Chino

REJUVENATED is an apt word to apply to Chino, Kennecott's big open-pit mine at Santa Rita, New Mexico. Back in 1923 Chino was merged with Ray by an exchange of shares, and in 1926 the Ray-Chino combination was taken over by Nevada Consolidated through an issue of bonds that were traded for the Ray and Chino assets. Subsequently, of course, the whole package was acquired by the Kennecott Copper Corporation. On the basis of the terms of the Ray-Chino-Nevada exchanges, Chino was rated third in value, something less than thirty per cent of the total. In 1955 the appraisal would doubtless be forty per cent or more. But it is not only vis-a-vis Ray and Nevada that Chino has blossomed out. At the end of 1931, Chino ranked seventh among the Porphyries in point of output; whereas by the end of 1954 it was fifth,. having passed both Inspiration and Nevada Consolidated. Sharp curtailment in production in 1932-33-34 and total suspension in the two years following (see Fig. 21) found the property in a somewhat parlous position. However, the engineers had not been idle; they had been planning for the future, and in 1937 a far-reaching program of rejuvenation was launched. During the ensuing five years, capital expenditures totaled more than $8,500,000. Among the projects undertaken were the following: (1) Mine-Purchase of larger and better equipment for drilling, loading, and transporting the ore. (2) Mine-Beginning of the first systematic project to leach and recover copper in the waste dumps at the mine.