Word: coppered
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Although 90% occupied with defense business, Revere Copper & Brass, copper fabricator, last week revealed that it had laid off 1,100 workers, 12% of its working force. It just could not get enough copper. Neither can the U.S.-OPM foresees a 770,000-ton (30%) gap between 1942 needs and supplies. Problem of the week was how to narrow this...
Since the 1942 U.S. copper deficiency is estimated at 770,000 tons, Morenci comes in none too soon. OPM's copper curtailment order went into effect last week, cut off all supplies from manufacturers of 100-odd copper gadgets after...
Frontiersman Robert Metcalf first stumbled on the green-stained rocks of the Morenci bed 70 years ago. Its exposed ore was so rich it was "quarried rather than mined." But by 1932, after yielding 1,800,000,000 lb. of copper, the high-grade open veins were played out, the underground low-grade (1.06%) ore too costly to work for a 6? copper market. Morenci became another ghost town...
...price of copper went to 16?. Phelps Dodge dusted off long-drawn openpit plans, issued $28,000,000 in convertible 3½% debentures, began moving the 46,000,000-ton mountaintop...
...Today copper is 12? a lb., not 16?. Yet the Morenci ores, though low-grade, will still yield a profit. When production starts, nine 125-ton electric locomotives will haul 75,000 tons of rock from the pit each day, dump 50,000 tons of waste into the canyons, spill the rest into ore bins. Each ton of ore will yield 21 lb. of copper-a daily smelter production of around 260 tons...