Word: magma
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...years ago the San Pedro Valley desert east of Arizona's Santa Catalina Mountains was inhabited by little more than coyotes and cactus. But after Magma Copper Co. proved up the nation's biggest copper deposit beneath the San Pedro Valley floor, the face of the desert changed. Earth movers terraced the rimrock into 1,500 homesites, bulldozers crunched over thousands of acres to carve out winding avenues, parks, shopping centers, a community swimming pool for the new town of San Manuel (TIME COLOR PAGES, July 25). To house Magma's workers. Builder Del Webb put house...
When San Manuel hits full production, perhaps by midsummer, it will process 30,000 tons of ore daily and yield 70,000 tons of copper yearly, plus 3.000 tons of molybdenum as a byproduct. Thus Magma, which has only one other smelter (at Superior, Ariz.), will boost its total copper production to almost 100,000 tons yearly, jump from sixth to third place among U.S. producers (after Kennecott and Phelps Dodge). At peak production San Manuel will expand U.S. copper output by 8%, molybdenum...
...Manuel into operation, the Government gave Magma a strong helping hand: a $94 million loan from the RFC, fast tax write-offs on plant and railroad, and a price prop at 24? a Ib. With copper now selling at 43? a Ib., Magma's rough-and-ready President Wesley P. Goss had plenty of reason to fire up San Manuel ahead of schedule. Says he: "When you have more than $100 million tied up, you are interested in getting into production as quickly as possible and getting some of those dollars back...
...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...