Word: molybdenum
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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...
Water by Phone. The changing face of the desert reflects the great migration. New cement plants have sprung up in the Mojave's Ivanpah, Oro Grande and Tehachapi. There are a new steam plant and expanded manganese mine near Las 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...
...penny stocks. The boom then was founded on paper claims and hope; now the penny-stock companies are merging, or being taken over by companies with enough capital to start mining. At least 20 of the nation's biggest mining companies, e.g.. Phelps Dodge, Anaconda Copper, Climax Molybdenum and Vanadium Corp. of America, were looking over companies with promising claims. Thus out-of-town investors, who hooted at uranium stocks nine months ago, have changed their tune. Now three of every four orders come from outside the city...
Radioactive Rumors. Keeping his find to himself, Shepherd began buying leases and options on land in Nowata County and started negotiations to buy from Whitehill Oil Corp. several thousand acres where he had found radioactive filters. But two weeks ago that deal fell through. Reason: Climax Molybdenum Co., one of the nation's biggest uranium producers, bought Whitehill-and rumors started running around Wall Street of a big uranium find. In a declining market (see below), Climax stock scooted up six points, to 63¾. Climax, which already has an active waterflood oil division, insisted that it bought Whitehill...
...have allies, and that it will be able to maintain supply lines back and forth across the oceans. Furthermore, if self-sufficiency is the goal, the U.S. should be spending its money only for those highly critical metals that cannot be found at home, instead of buying aluminum, nickel, molybdenum, etc., which are available in the U.S., Canada and Mexico...