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...meet the rapidly expanding demand for borax. U.S. Borax & Chemical Corp., the world's largest borax producer, last week began operating a huge new plant perched on the edge of the crater at Boron, Calif. It will process ore straight from the open-mine pit, thus cut transportation costs, eventually replace facilities elsewhere. U.S. Borax intends to boost production 30% through its $20 million expansion program at Boron, knows now that it will have no trouble selling all it can turn...

Author: /time Magazine | Title: CORPORATIONS: Element of Tomorrow | 6/10/1957 | See Source »

Exciting Future. The most exciting new use for boron is in exotic fuels (TIME, April 1), in which it is joined with hydrogen or other elements to generate infinitely greater power with less volume than present fuels.* The U.S. Defense Department has already invested $100 million in high-energy fuel development. U.S. Borax & Chemical is negotiating with top chemical firms to commit part of its borax production (70% of U.S. output) to making high-energy fuels. Should boron become the key element in the fuels of the future, the industry estimates that demand for borax, which has already doubled...

Author: /time Magazine | Title: CORPORATIONS: Element of Tomorrow | 6/10/1957 | See Source »

Even discounting high-energy fuels, borax production is already based solidly on the requirements of more than 100 industries, ranging from glass to pesticides, fertilizers to soaps. And further uses for boron are being found every day. Standard Oil Co. (Ohio) has developed a boron additive for gasoline to provide better economy and lower engine maintenance, is marketing it through Richfield Oil Corp. and Sunray Oil Corp. Though boron for gasoline this year would account for only $500,000 of all borax sales, U.S. Borax hopes to sell the boron additive directly to dealers, swell boron gas into a healthy...

Author: /time Magazine | Title: CORPORATIONS: Element of Tomorrow | 6/10/1957 | See Source »

...Borax is only a corporate infant-formed last year by the merger of oldtimers Pacific Coast Borax Co. and U.S. Potash Co. But it has close to a natural monopoly, holds 63% of the free world's deposits, including the only big deposit of sodium borate ore (at Boron), the cheapest and easiest type of the mineral to mine and process. The company's ancestry is the story of borax mining in the U.S. The discovery of borax in a California hot spring in 1856 set off feverish prospecting and mining that eventually made the U.S. the world...

Author: /time Magazine | Title: CORPORATIONS: Element of Tomorrow | 6/10/1957 | See Source »

...creditors, he was forced to sell out his stock to Gerstley and other Britons with holdings in the new company, which eventually became known as Borax (Holdings) Ltd. Domination of U.S. borax mining passed to the British- and stayed there, largely because of new finds such as the boron deposit that allowed Borax (Hofdings) Ltd. to cut costs, forced borax prices down over the years from about $4,000 to $38.50 a ton. The younger Gerstley came to the U.S., took over the Pacific Coast Borax division, became a U.S. citizen. In 1956 Borax (Holdings) Ltd. decided to make Pacific...

Author: /time Magazine | Title: CORPORATIONS: Element of Tomorrow | 6/10/1957 | See Source »

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