White Pine Mine Development - Flat Lying, Deep Seated Ore Calls For Mobile Equipment, Conveyor Haulage

INTEREST in developing White Pine, considered since 1942, was renewed by the Korean conflict and its shortage of domestic sources of copper. In view of this Morris F. La Croix, president of Copper Range Co. of Boston, and of its wholly owned subsidiary, White Pine Copper Co., worked an agreement out with Government officials. Essentially the contract called for a construction loan of $57,185,000 at 5 pct interest, with $13 million additional supplied by Copper Range. Defense Materials Procurement Agency contracted for 243,750 tons of copper from the first 275,000 tons produced, at a base price of 25.5& per lb, the contract to expire Dec. 31, 1961.