Trends

The Mexican Government is building a mill at Churunibave in Sonora to handle lead, zinc, and copper ores. This development was sparked by increased mining activity in Mexico and Arizona caused by the Korean war. Pickands Mather, acting for a group of iron ore producers, is negotiating an agreement with Steep Rock Iron Mines, Ltd. to explore and perhaps lease iron ore property covering more than 1000 acres in the Steep Rock Lake area in Western Ontario. Plans call for the early commencement of an exploratory program. Other members of the group by Pickands Mather are Bethlehem Steel, Youngstown Sheet & Tube, the Steel Co. of Canada, and Interlake Iron Corp.