Twenty-Five Years Of Progress

UP TO and including 1931, the twelve mines that were treated in THE PORPHYRY COPPERS had produced 17.4 billion pounds of copper worth $2,820,000,000. With a little help from six others (three of them did not start output until 1954) that record had been increased at the end of 1955 to 60.5 billion pounds worth $10,440,000,000. Today, ten billion dollars is not as impressive as it once was; but it still represents a lot of value. It must be remembered that this is newly-created wealth, produced entirely from material considered worthless when the Porphyry era started about fifty years ago. At that time "rock" that contained less than forty pounds of copper per ton was regarded by competent mining engineers as value- less. It was not "ore" in the economic sense. Today, ore is being successfully exploited that contains less than twelve pounds of copper per ton. Also, in Peru, a typical Porphyry operation is being launched by a partnership of four United States mining companies that will involve an initial capital investment of $200,000,000 for mine development, plant construction, and the provision of related facilities. Of this project more will be said at the end of the chapter. The point I want to make now is twofold: (1) that phenomenal progress has been made in Porphyry engineering and technology; and (2) that exploitation of an important Porphyry copper deposit has become an industrial enterprise of truly great magnitude. Much had been accomplished by 1931; but that progress has been dwarfed by the achievements of the past 25 years- a fact that, in the nature of things, is as it should be.