Word: magma
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Dates: during 1950-1959
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...Vegas, Molybdenum Corp. of America's new 50-million-ton "rare earth" mine at Mountain Pass, Calif., a $28 million Hughes guided-missile plant and a Douglas Aircraft experimentation plant at Tucson, industry" new plants at aviation, Phoenix, electronics and a and brand-new, "smokeless $120 million Magma Copper mine, mill smelter and town at San Manuel, Ariz., to mine the newest and biggest proved deposit of copper ore in the U.S. (see color pictures...
...Rockwell Mfg. Co., DeWalt Inc. and Black & Decker Mfg. Co. have brought out whole lines of better, easier-to-use tools. Black & Decker alone has 150 models, now does a $35,648,000 business annually v. $5,346,000 in 1939. Other firms, such as Skil Corp., Shopmaster, Magma Engineering Co. (TIME, March 29), have brought out portable and stationary power tools to do half a dozen different jobs. Magma Engineering's versatile Shopsmith tool is a complete home workshop, with drill, lathe, saw and sander all rolled into one. Price: $269.50. But the real tinkerer who plans...
...Wesley P. Goss, 54, vice president and general manager of Arizona's Magma Copper Co., moved up to president, succeeding A. J. McNab, who became chairman. One of the West's top mining engineers, Goss bossed development of Magma's famed San Manuel mine, largest underground copper mine...
...samples were analyzed at the Scripps Institution of Oceanography. They seem to be "acidic," which would prove, according to Scripps Man Richards, that the volcano is a continental type in spite of its position well out from the continental shelf. It may get its lava from a deep-down magma reservoir like those which have fed volcanoes on the Mexican mainland...
Last week Magma struck it rich-not on the San Pedro but in the bureaus of Washington. To develop its San Manuel property, it got a $94 million RFC loan, the biggest ever made to a private company. With the money, Magma plans to build a town for 7,000, a concentrator, smelter and other installations. But there is one catch. Not till Magma raises $17 million for the mine from private sources will the RFC turn over its money. President McNab is still not sure where the $17 million will come from. But since the Government is willing...