Fortune Shows Mining Sales Up 14.5% In 1967

The mining companies on the page opposite are among the elite industrial 500 in Fortune magazine's June Directory of U. S. firms that rang up the largest dollar sales volume in 1967. The companies are listed according to their 1967 sales rank, which is given along with their 1966 rank for comparison. Mergers played an important role in the addition and deletion of several companies to the list. Tenneco, Occidental Petroleum and Gulf & Western Industries made the list of mining companies by their purchases of Kern County Land, Island Creek Coal, and New Jersey Zinc, respectively. In turn, these three companies disappeared from the list. General Aniline & Film acquired Ruberoid, and Ideal Cement is now a part of Ideal Basic Industries -a name change only. Only two companies, St. Joseph Lead and U.S. Smelting, Refining & Mining, were actually displaced from the list. The mining industry increased its sales 14.5%, placing fourth among the 22 industrial classifications listed in the Directory. However, among the ten biggest losers in sales were four mining companies-Kennecott Copper, -33.8% ; Asarco, -21.8% ; Amax, -16.5%; and Anaconda, -15.1%.-which was mostly a result of the copper strike, except for Amax which suffered strikes at its molybdenum and aluminum operations. Mining heads the list of industries for return on sales and assets per employee, while it rests at the bottom with respect to sales per dollar of invested capital.