Word: ores
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Dates: during 1950-1959
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...obstacle is that the U.S. has contracted to pay steep royalties to Freeport Sulphur Co. for the ore that the plant uses, is even now battling to renegotiate the contract and slash the royalties. Few companies are willing to bid on the plant until peace is declared and a steady stream of ore is guaranteed at a good price...
Price Fight. When the Government built the Nicaro plant in 1942, it badly needed ore to feed it. Freeport Sulphur Co. owned a rich ore body just four to eight miles away, and the Government lent $1,100,000 to Freeport to develop the ore. The Government promised to buy at least one-third of Nicaro's ore needs from Freeport through 1968, now gets all of Nicaro's ore from Freeport, pays a royalty of $1.73 per ton, and also pays the cost of extracting the ore. The Bureau of Mines contends that the Government, which operates...
Last year Freeport offered to cut the price to $1.24 if the Government would sign an irrevocable contract to buy at least two-thirds of its Nicaro ore needs from Freeport through 1978. General Services Administrator Franklin Floete turned down the offer, called on Lawyer Ira D. Beynon, 62, to clean up the Nicaro dispute. Beynon attacked the chore with vigor. Testified Freeport Sulphur's President Langbourne Williams: "Mr. Beynon began to call us names, to threaten us with congressional investigations. He said, 'You reduce [the ore price] or I'll shut this plant down...
...seven under construction. In addition. AEC said that four entirely new mills are needed. As Congress has pointed out. contracts for Canadian and African concentrates, which fill half of U.S. needs, will end in the early 1960s. In all, AEC wants to add about 3,000 tons of ore to the U.S. daily milling capacity of 20,400 tons previously planned for 1962. As a first move. AEC announced negotiations with International Resources Corp. to build a new mill in one of the Dakotas with a daily ore capacity of 600 tons...
Western miners and Congressmen who had complained bitterly about the freeze (TIME, March 10) were not entirely satisfied that the AEC has thawed enough. Milling capacity will be boosted only in areas where ore bodies were developed before last Nov. 1, thus giving no encouragement to the development of new finds or combatting the sharp decline in U.S. prospecting in the last six months. But Western miners hope that more thawing weather...