CRU, IPCC CONTROVERSIES SHOW EPA ENDANGERMENT FINDING BASED ON FLAWED SCIENCE
KEY REPORT FINDING: The information exposed in the UK’s CRU email controversy shows that the UN’s IPCC science is seriously flawed. The IPCC’s flawed science serves as a critical basis of EPA’s endangerment finding for greenhouse gases. For this reason, the finding should be thrown out.
CRU CONTROVERSY IPCC/USGCRP REPORTSEPA ENDANGERMENT FINDING
CLAIM: Some have dismissed the email scandal as involving just a few scientists, the IPCC’s major gaffes exposed by the media (e.g. that the Himalayan glaciers will melt by 2035) as irrelevant—and that neither of these things affects EPA’s endangerment finding.
• The scientists involved in the CRU controversy violated fundamental ethical principles governing taxpayer-funded research and, in some cases, may have violated federal laws.
• Many of the scientists involved in the CRU controversy also wrote the IPCC’s science reports.
• The flawed IPCC science reports are the most important scientific basis for EPA’s endangerment finding for greenhouse gases.
• On the critical issue of whether man-made greenhouse gases are causing climate change, EPA relied nearly exclusively on the work of the IPCC.
• EPA accepted the IPCC’s conclusions wholesale, without doing an independent review. Therefore, EPA failed to uncover key errors in the IPCC reports that ultimately were incorporated into the endangerment finding.
• EPA claims separately that it also relied on the work of the United States Global Change Research Program (USGCRP). But the USGCRP is closely linked with the IPCC. For example, of the 35 members who worked on a key 2006 USGCRP report, 23 also worked on the IPCC’s 2007 climate change science assessment.
• In short, the CRU emails reveal scientists who worked together on the major reports that form the so-called “consensus.” The emails show that there is no consensus and that EPA’s endangerment finding should be scrapped.
Full Senate Report Available at www.epw.senate.gov/inhofe
Contact: Matt Dempsey Matt_Dempsey@epw.senate.gov (202) 224-9797
David Lungren David_Lungren@epw.senate.gov (202) 224-5642
Senator Vitter: “As it stands, NEPA is subject to frequent abuse by radical environmentalists who want to use litigation to impose their agenda on federal agencies. Our bill seeks to prevent that abuse, which often hinders economic development by interfering with basic functions such as the permitting of new power plants.”
(Reuters) - New York state prosecutors have "a devastating case" against former American International Group Inc Chief Executive Maurice "Hank" Greenberg, whom they accuse of fraud over a reinsurance transaction 10 years ago, the presiding judge said in court on Tuesday.
During oral arguments, New York State Supreme Court Justice Charles Ramos did not rule on Greenberg's motion last week to dismiss the case or the office of New York Attorney General Andrew Cuomo's request for summary judgment.
Greenberg's attorney David Boies argued that much of the attorney general's case relies on hearsay disputed evidence regarding two conversations the former AIG chief had with onetime General Re Corp Chief Executive Ronald Ferguson that purportedly sealed the deal.
The judge told Boies that David Ellenhorn, a lawyer in the attorney general's office, "has put together a devastating case, a very strong case, and we both know it. I am very, very much focused on those two conversations Mr. Greenberg had with Mr. Ferguson."
Brought in 2005 by former Attorney General Eliot Spitzer, the case involves a 2000 reinsurance transaction with General Re, a unit of Warren Buffett's Berkshire Hathaway Inc, that boosted AIG's loss reserves by $500 million without transferring risk.
"This transaction is material because it was designed to, and did in fact, mislead investors about AIG's reserves," Ellenhorn told the court.
He said that when he deposed Greenberg two weeks ago, 90 percent of his answers were "I don't know," despite the now 84-year-old Greenberg's fame for knowledge and attention to detail.
"He drills down so deep, to the Arctic ice, and yet he tells us he doesn't know the details of what he discussed with Ferguson," Ellenhorn said. "It's ridiculous."
Greenberg is trying to rehabilitate his reputation and settle lawsuits over the transaction and his ouster from AIG in March 2005.
Former AIG Chief Financial Officer Howard Smith also was charged in the civil lawsuit, which seeks to hold the two former executives of the giant insurer liable under New York's powerful securities law, the Martin Act.
Federal prosecutors have obtained five criminal convictions and two guilty pleas of former General Re and AIG officials over the transaction, including a conviction of Ferguson.
Last August, Greenberg agreed to pay $15 million to settle U.S. Securities and Exchange Commission charges that he altered AIG's records to boost results between 2000 and 2005.
Three months later, Greenberg and AIG resolved years of litigation that followed his exit. AIG agreed to reimburse him and others for as much as $150 million of legal expenses.
Investigators have questioned Buffett about the General Re transaction. The billionaire was never accused of wrongdoing.
The case is New York v. Greenberg et al, New York State Supreme Court, New York County, No. 401720/2005.
(CN) - Citing the "blurry relationship" between cost recovery and contribution claims, the 3rd Circuit vacated an $11 million judgment against a company relating to toxic waste cleanup at the Boarhead Farms Superfund site in Pennsylvania.
Waste from more than 20 companies was illegally dumped at the site in the early 1970s, leading the Environmental Protection Agency to investigate in the 1980s and conduct cleanup there through the 1990s.
The EPA sued five of the major polluters in 2001, including the Ford Motor Company. In 2002, those five sued 23 other companies under the Comprehensive Environmental Response, Compensation, and Liability Act, to recover a share of the millions of dollars they had already put towards decontamination.
After the trial in 2008, only one defendant was left: Carpenter Technology Corporation. The federal bench trial determined that of the approximately $13.68 million in costs the plaintiffs had incurred by the end of 2007, Carpenter was responsible for 62.6 percent, based on its proportionate volume of waste.
The court added to this 17.4 percent due to Carpenter's lack of cooperation with the EPA and for its having done business with known polluters, making Carpenter responsible for 80 percent of the cleanup, or about $10.94 million.
The Philadelphia-based appellate court reversed the judgment based on several key points.
Alluding to the "magnitude and complexity of the record," the court addressed Carpenter's challenge of the judgment based on a statute of limitations that starts once cleanup work has finished. The 3rd Circuit asked the trial court to determine, as best possible, a date certain for completion of the work.
The appeals court also ruled that plaintiffs should be shielded from contribution counterclaims, but may not pursue cost counterclaims pursuant to consent decrees.
Although the 3rd Circuit upheld the concept of the 17.4 percent penalty, since Carpenter showed "callous disregard" in dealing with the waste companies and EPA, it reversed the lower court's allocation of waste volume. The trial court may not base its decision on a stipulation that Carpenter never signed, the appellate court said, calling this hearsay and a violation of due process.
The 3rd Circuit remanded the case back to the trial court with instructions to issue a new ruling consistent with its own.
EPA Awards Nearly $80 Million to Cleanup and Revitalize Our Communities
Neighborhoods to gain health, environmental and economic benefits
WASHINGTON - The U.S. Environmental Protection Agency (EPA) announced today that it has selected $78.9 million in brownfields grants to communities in 40 states, four tribes, and one U.S. Territory. This funding will be used for the assessment, cleanup and redevelopment of brownfields properties, including abandoned gas stations, old textile mills, closed smelters, and other abandoned industrial and commercial properties.
The brownfields program encourages redevelopment of America 's estimated 450,000 abandoned and contaminated waste sites. As of March 2010, EPA's brownfields assistance has leveraged more than $14 billion in cleanup and redevelopment funding, and 61,277 jobs in cleanup, construction, and redevelopment. These investments and jobs target local, under-served and economically disadvantaged neighborhoods – places where environmental cleanups and new jobs are most needed. Cleaning up our communities is one of EPA Administrator Lisa P. Jackson's priorities, which leads not only to health and environmental benefits but also economic development and prosperity.
"To strengthen our economy, we must first strengthen our communities," said Administrator Jackson. "Cleaning up and revitalizing these contaminated sites opens doors to new businesses, new homes and new jobs for American workers while making our environment cleaner and the community healthier. This shows that what is right for the environment is right for the economy."
In total, EPA is selecting 304 grants through the Brownfields Assessment, Revolving Loan Fund, and Cleanup Grants programs:
· 188 assessment grants, totaling $42.56 million, will conduct site assessment and planning for cleanup at one or more brownfields sites as part of a community-wide effort.
· 17 revolving loan fund grants, totaling $17 million, will provide loans and subgrants for communities to begin cleanup activities at brownfields sites. Revolving loan funds are generally used to provide low interest loans for brownfields cleanups.
· 99 cleanup grants, totaling $19.36 million, will provide funding for grant recipients to carryout cleanup activities at brownfield sites they own.
Since the beginning of the brownfields program in 1995, EPA has awarded 1,702 assessment grants totaling $401 million, 262 revolving loan fund grants totaling more than $256.7 million, and 655 cleanup grants totaling $129.4 million. As part of Administrator Jackson's commitment to this program, the 2011 proposed budget includes an increase of $215 million for brownfields with a focus on planning, cleanup, job training and redevelopment.
In 2002, the Small Business Liability Relief and Brownfields Revitalization Act was passed. The brownfields law expanded the definition of what is considered a brownfield, so communities may now focus on mine-scarred lands, sites contaminated by petroleum, or sites contaminated as a result of manufacturing and distribution of illegal drugs (e.g. meth labs).
April 18, 2010
The EPA monster
By Alan Caruba
Among the legacies of Richard M. Nixon, famed for the Watergate scandal that forced his resignation, it should be noted that he created the Environmental Protection Agency. There was no vote in Congress. He did it with an executive order. Today the EPA has an annual budget of $9 billion and some 18,000 employees.
Not satisfied with the authorized powers given it to ensure clean air and water, the EPA has never ceased to seek expanded powers, culminating soon with a battle over whether it can regulate carbon dioxide (CO2) as a "pollutant." Labeled a "greenhouse gas," in the eyes of the EPA it is an "endangerment" to the health of humanity in general and Americans in particular.
CO2 is as vital to all life on planet Earth in the same way as oxygen. It is what plants consume in order to grow, much as oxygen is essential for life among living creatures that, in turn, are dependent on vegetation, crops, for their sustenance. It's a neat little cycle that has existed since life emerged on Earth.
If the EPA gains the power to regulate CO2, it will have the power to regulate the activities of every individual and the entire economy of the nation. Traditional sources of energy, with the exception of nuclear and hydroelectric power, involve the emission of CO2. A modern society cannot function without CO2 emissions, but they have nothing to do with global warming because there is NO global warming.
CO2 represents a mere 386 parts per million of the Earth's atmosphere. Humans are responsible for 3% of its generation; Mother Nature produces the other 97%. And the EPA wants to regulate ALL of it!
Actual science is of no importance to the EPA. If the EPA really cared about human life, it would not have a long history of banning beneficial chemicals such as DDT and other pesticides that protect humans against a laundry list of transmittable diseases like malaria, dengue fever, yellow fever, et cetera.
The EPA is actually seeking to limit the amount of deicing fluid used to protect commercial and other aircraft on the grounds that it might get into nearby streams and rivers. Never mind the lives of the passengers and crews on planes that would be brought down as the result of such ice. This defies common sense.
In truth, the EPA threatens the economy and our lives in so many ways it is difficult to know where to point first. To my mind, the way it infiltrates the nation's education system to fill the minds of children with visions of a planet threatened with "warming" or that every species is "endangered" or that all the waters and air are "polluted" is criminal.
The EPA is currently accepting grant applications "to help manage the National Environmental Education Training Program over the next ten years." Costing $10 million, it "will provide teachers and other education professionals with resources and support to enable them to teach about environmental issues more effectively." The EPA was not created to go into our nation's schools in this manner. This is propaganda. This is indoctrination.
Let us grant that, when it stuck to its original purpose, it did make the air cleaner and some of the nation's waters. Now, however, the EPA is a massive machine designed to destroy the nation's economy and impede growth and development in every way possible.
The primary tool for this are lies concerning any element of the environment it wants to control and, as a result, retard the economy. As but one example, there are the new "smog" standards the EPA recently announced. It has reduced them to a level of 60 to 70 parts per billion in the air. It released a list of counties it says are in violation of the new limits.
The cost of achieving the lower standard is estimated from $19 billion to $90 billion. If you took one tennis ball from an olympic-sized pool filled with them, you would achieve the same result. It's not merely absurd; it is yet another attack on every single business and industry operating in those counties.
The same idiocy applies to setting mileage rules or requiring that ethanol be added to gasoline. To achieve the mileage rules, the weight of automobiles must be reduced. People inside those thinner, lighter cars will die from an accident at a rate in excess of larger vehicles. As for ethanol, it requires more energy to produce than it saves. It drives up the cost of all the food we consume. It also reduces the mileage from every gallon of gasoline while emitting more CO2!
The EPA is currently at war with the coal industry, responsible for providing the source of 50% of all the electricity generated in the United States of America. A recent "endangerment" finding against all surface coal mining in the Appalachian States of Virginia, Kentucky, and West Virginia is based on the protection of the Mayfly population, an insect that typically lives for one day!
The list of EPA abuses of common sense and known science could fill a shelf of books in much the same way its ever-expanding regulations do, but the worst of it is yet to come if the Cap-and-Trade Act is passed.
Despite the fact that CO2 has nothing to do with the non-existent "global warming" and therefore does not need to be regulated for any reason, the enactment of the bill will literally prevent a homeowner from selling their home without permission from an EPA administrator. The cost of buying or selling a home will soar.
The Environmental Protection Agency needs to be reduced in size and authority to its original intent. Better still, eliminate it entirely. It is a monster.
© Alan Caruba
April 14, 2010
Revolt of the states
By Alan Caruba
President Obama, his weird circle of advisors (czars), and the ideologues within the Democrat Party led by Speaker Nancy Pelosi and Majority Leader Harry Reid only have a few months left to completely destroy the separation of powers between the States and the federal government.
A major battle is looming over the Tenth Amendment which declares that "The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people."
Almost everywhere one looks today, the States are in rebellion to the overreaching of the federal government. The process involved is called nullification, a legal theory that a U.S. State has the right to nullify, i.e., invalidate, any federal law deemed unconstitutional. Since the Supreme Court moves at a glacial pace, the States through their legislatures have taken the lead in many cases.
Nullification is not secession as in the case of the Civil War, but there is a history of nullification that includes the Kentucky and Virginia Resolutions against the Alien and Sedition Acts. Thomas Jefferson and James Madison both argued that the States are the ultimate interpreters of the Constitution, arguing that the States could "interpose" themselves to protect their citizens from unconstitutional national laws.
Much of the discord in the nation today has its roots in the vital difference between a conservative attachment to traditional values and a liberal ideology that would impose a One World Government on our sovereign nation.
The great philosopher of American conservatism, Russell Kirk, wrote "True conservatism is the antithesis of ideology. It is the negation of ideology. For conservative is grounded in the past. Its principles are derived from the Constitution, experience, history, tradition, custom, and the wisdom of those who have gone before us — 'the best that has been thought and said.' It does not purport to know the future. It is about preserving the true, the good, the beautiful. Conservatism views all ideologies with skepticism, and the more zealous and fanatic with hostility."
A case in point is the way that State after State has lined up to oppose through the courts and by individual legal action the imposition of the president's healthcare legislation, passed on strict party lines by the Democrat Party and only after the most vile revelations of bribery and backroom deals. It is a bill whose content Speaker Pelosi said Americans should supinely consider only after it was passed.
There has been a rapidly growing awareness and rejection of the assertion that the federal government can "own" General Motors or that the government should be in the business of buying and selling mortgages.
Pending financial reform legislation would permit the federal take over any company to install its own board of directors and thus control the economy. The failure to exercise existing regulation of the financial sector hardly calls for more regulation. It calls for stronger enforcement of existing laws.
The increasing awareness and rejection of the false "theory of global warming" is being rejected on the basis of the widely perceived cooling of the earth during this decade and the wild projections of warming 25, 50, a hundred or more years into the unknown future. More and more Americans now know it is based on feeble and deliberately false "computer models."
That is why the Cap-and-Trade bill, a huge tax on energy use, awaiting action in the Senate, even if imposed in the same fashion as the healthcare bill, will be rejected by the States. There is no need to regulate carbon dioxide, a natural gas that has nothing to do with "warming," but a rogue government agency, the Environmental Protection Agency, is set to assert this falsehood through massive regulation that will destroy the nation's economic base.
With increasing pace, the States are demanding that the Second Amendment protecting the right to own and bear arms be respected and asserting their right to pass laws permitting gun ownership, including the right to carry concealed arms for self defense. States that have enacted such laws have seen a dramatic decrease in crime.
The assertion of unconstitutional federal powers lies at the heart of the State's rejection of these efforts. Unfunded federal mandates are bankrupting the States and they want an end to them. The rapacious taking of State lands is crippling theirs and the nation's ability to access our natural resources.
A growing spectrum of federal laws intruding upon the sovereignty of individual States is being challenged and this is a good thing. We should all take heart from these challenges as well as the spontaneous occurrence of the Tea Party movement that is a dramatic demonstration that the spirit of individual liberty and of States rights is alive and well in America.
A new generation of Americans is learning that the Constitution was designed to ensure a small and limited federal government and that the States, like the Union, are individual republics.
The battle has been joined.
© Alan Caruba
By DAVID MARK | 4/20/10
Former President Bill Clinton's comments surrounding the Oklahoma City bombing commemoration are “unconscionable” and an “over-the-top” effort to silence critics, Sen. Jim Inhofe (R-Okla.) said Tuesday.
Clinton has drawn fire for reprising criticism he made of conservative talk radio 15 years in the wake of the bombing of the Oklahoma City federal building that took 168 lives and injured more than 500 others.
“I could not believe it when I first saw the Clinton remarks that he had come out again, 15 years later, and talked about this being precipitated by right wing talk radio,” Inhofe said in an interview for POLITICO's Arena forum. “This is an over-the-top effort to try to stop a movement of people who aren't amenable to supporting Obama programs, like cap and trade, government-run health care and closing Gitmo.”
Clinton's remarks have fostered a spirited back and forth about the role of increasingly heated political rhetoric by tea party protesters and others.
Rep. Tom Cole (R-Okla.), for instance, warned the former president not to “cheapen” the memory of the Oklahoma City bombing by comparing the anti-government sentiment that fueled it to the anti-Washington anger that drives the tea party movement. But former Rep. Mickey Edwards, an Oklahoma Republican who represented the Oklahoma City area from 1977-1993, said in Arena that Clinton's remarks were taken out of context and were actually more nuanced
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T.W. Arman, owner; owner of the properties, mines, and hydropower.
PRODUCTION OF CARBON NANOTUBES FROM BIOMASS AND HAZARDOUS WASTE SOLUTION COMBUSTION!
University of California Davis Professor Ting Guo discovers Iron nano-catalysts (Fe-Al-Ni) catalyst for Fischer-Tropsch reaction and converts carbon dioxide from air to carbon nano-tubes.
"One thing Fe is relatively good at is catalyzing Fischer-Tropsch synthesis of liquid fuels from syngas (CO + H2), which happens at 300 C or so. It is possible that we can convert your iron into materials good for catalyzing FTS, which can be used after methane and CO2 are converted to syngas using Ni catalysts at 900 C. We need to test to see if the iron catalysts from your waste is good for this purpose. Mixing them with carbon paste is an option. Because the reaction temperature is relatively low, we may not need to use nanotubes to anchor the catalysts. " Ting Guo, November 21, 2008
§ 2386. ...certain organizations"Mercury, gold, copper, lead, diamonds and oil: by 1900 the Rothschilds occupied a remarkable position in the world market for non-ferrous metals, precious stones and petroleum" [Ferguson op cit]
After the "discovery:" of alluvial and diluvial diamonds in South Africa's Orange and Vaal rivers in 1867 - concentrated around the "rush" town (originally farm) of Kimberley - conflicts broke out over ownership of claims, and between the English and Boer mine-owners. The violence and discord threatened both access to, and supply of, what was undoubtedly the biggest single deposit of high class sparklers ever located. It mightily worried the London Rothschilds too. For they already had their agents in the field and had acquired the biggest single stake in the Anglo American Diamond Mining Company Ltd; using this (especially after 1882) as a vehicle for buying out smaller claim-holders in the area. [Wilson, op cit, page 303]
The two biggest operators had emerged as Barney Barnato and Cecil Rhodes; the latter being the archetypal nineteenth century imperialist with a proclaimed aim to create "a British dominion from the Cape to Cairo."
Rhodes approached the London Rothschilds in 1887 for investment backing, and they coughed up a million pound guarantee. Using this, Rhodes quickly swamped the opposition, purchasing the rival French Diamond Company) and establishing De Beers Consolidated Mines Ltd (with Lord Nathaniel Rothschild on the board). Until the dawn of the twenty first century De Beers was to supply of eighty per cent of the world's gem diamonds.
Rio Tinto and the Rothschilds had started connecting a hundred years earlier, when the Societe des Metaux, headed by the French banker Hyacinthe Secretan, began buying huge quantities of European copper, in order to fix the world price. Behind this rudimentary exercise in monopolisation were a number of European banks, including the London and Paris Rothschilds and their comradely British rival, Baring's [Charles E Harvey, "The Rio Tinto Company: An economic history of a leading international mining concern, 1973-1954", Alison Hodge, London, 1981, page 70.]. Rio Tinto was by then the most important copper miner in the Iberian peninsular (Spain and Portugal) - indeed the world. Whether or not the banks held key shares in the copper companies at this time is open to question. In any event, a proposal by investors to buy out the mining companies was abandoned. An attempt at a compromise was made in 1888, when Rio Tinto and the banks, including the Rothschilds, decided to establish a new joint venture copper marketing company in England. Rio Tinto's founder, Hugh Matheson, became the chair, while half the directors were appointed by the banks. This so-called "Secretan copper corner" also collapsed for reasons which are not clear [Harvey, op cit pages 72-73].
But the financial dependence of Rio Tinto on the Rothschilds was becoming obvious. According to RTZ historian, Charles Harvey, in his assiduous history of the mining company's formative years: "The Rothschilds would seem from their involvement in various financial schemes to have become substantial shareholders in the Rio Tinto Company in the aftermath of the Secretan copper corner [A Rio Tiinto company] entry of 9 November 1905 indicates that their holding at that date amounted to 30.8 per cent of the Company's issued share capital" [Harvey ibid, footnote 73, page 110].
The first world war had a damaging impact on Rio Tinto's profits as copper pyrites (and by-product sulphur) prices slumped . Demonstrating their financial clout over the company, in June 1920 the London and Paris Rothschilds met with the Rio Tinto board and insisted on a major reshuffle: the directors duly fell into line [Harvey, op cit, page 171}. "The extent to which…the Rothschilds directed Rio Tinto's development is difficult to determine" comments Harvey "…Nonetheless it seems certain that the directorate's outlook was considerably influenced through its association with these financiers" [Harvey, ibid, page 188]
The growing mutual dependence of Rio Tinto and the Rothshild's became more obvious when the mining company moved into central Africa during the 1920s. The Rothschilds encouraged their British confreres to buy a major - and strategically invaluable - stake in the Northern Rhodesian (Zimbabwean) copper belt. They viewed the investment not just as a source of revenue but, says Harvey, " as a vehicle for capital accumulation in its own right" [Harvey, ibid, page 221]. By 1932, three outfits - collectively known as "the Rio Tinto Group" - controlled the biggest stake in what was potentially the world's richest copper field,. One was Rio Tinto itself, the second a company partly owned by Rio Tinto - and third came the Rothschilds. [Harvey, op cit, page 231].
Just how much of Rio Tinto did the Rothschilds continue to own during the heady fifties, sixties and early seventies - a period of enormous neo-colonial expansion for the world's most powerful mining company? We can only speculate. Though firmly from the French branch of the family Guy de Rothschild sat on the board of the London-based miner, while amassing his own mining interests into IMETAL by a stupendous process of acquisition (see below).
In his 1985 autobiography, Guy claimed that, until the old Rio Tinto evolved into RTZ (Rio Tinto Zinc) in 1962, through its acquisition of Consolidated Zince in Australia, the Rothschilds held no less than half the shares of the British company. At an unspecified time, Anglo American (one of the Rothschild's partners in the Brinco confection) also acquired 10% of RTZ, through its London-based subsidiary, Charter Consolidated and a Rothschild sat on the Charter board.
Certainly RTZ and the French Rothschilds connived closely to form the notorious "uranium cartel" in the early 1970s, in order to outflank the United States, then the prime supplier of the deadly metal. During US Congressional investigation of the cartel in 1975, one Congressman McDonald lambasted the Rothschilds in no uncertain terms:
"As suggested by the fist clenching five arrows in the family crest, the Rothschilds of France and England have an interest in nearly every uranium mine in the world…The Rothschild presence is everything" [ US Congressional Record, Extension of Remarks, Washington DC 4/3/1975].`
It is fair to conclude that the Bank (certainly the French arm) is no longer "everything" in the manifold manoeuvres of what is now the world's second largest mining company. In its latest Annual Report, Rio Tinto plc lists its twenty largest shareholders; between them controlling 32.47% of the company's share capital. All are "nominees" (ie investing on behalf of unnamed investors which could include themselves), led by the Bank of New York (7.63%), followed closely by Chase (7.58%) and with HSBC coming third (2.06%).
Rio Tinto Ltd, the company's Australian arm, is 37.60% owned by Rio Tinto in London, with Chase Manhatten Nominees second (9.18%).
Neither of the dual-listed companies are officially the beneficiaries of any important Rothschild stake. [Rio Tinto 2001: Annual Report and financial stat ements (according to US General Accounting principles), London and Melbourne, 2002, page 131].
Nonetheless, during the 1980s and early 1990s Rothschild and Rio Tinto continued to do deals. The bank was associated with the mining company when Rio Tinto planned to purchase the huge Cerro Colorado copper project in Pinochset's Chile, through its subsidiary, Rio Algom. (The project was delayed and Rio Tinto late sold off Rio Algom ["Plunder!" page 137]). And Rio Tinto bought up 40% of the vast - and hugely rich - Neves Corvo copper mine in Portugal in 1984 from two IMETAL subsidiaries.
But the nineties yielded nothing of the type and scale of investment brokered between the partners over the previous century. Two mining projects have brought the company and bank together recently (Lihir and Richards Bay) but these are relatively minor, conventional plays (see appendix). Rio Tinto and Rothschild do not seem to be currently wheeling and dealing in Australia, where the bank is concentrating its attention on the minerals sector
It is certainly reasonable to suggest that Rothshild's newfound interest in the mining company Lepanto may be partly motivated by Rio Tinto's former hands-on involvement with the Philippine company in the same area (It would not be unreasonable to speculate that the two parties consulted beforehand). But this is probably less important than the fact that it is partly through their 120 year association with Rio Tinto that the Rothschilds have acquired an expertise in mine finance which is unrivalled.
Forty years ago De Rothschild Freres changed its role from that of a merchant bank to a financial conglomerate, greedy for investments in oil, mining, shipping, and real estate. In 1967 the Bank merged its family concerns with that of their other major company, the Compagnie du Nord (railway) [Wilson, op cit page 401].
"If the 1960's really were 'swinging'" writes Derek Wilson, "no one swung with more vigour than the French Rothschilds. Not since the 1920s had they had so much disposable wealth. Not since the end of the last century had they wielded so much power". It was not only moneymaking which measurably advanced but also the Rothschilds political influence , especially with French prime minister Georges Pompidou.
During the late 1930's the left-wing Popular Front government "robbed" the family of its extensive railway holdings. Adding insult to injury, in 1940 the anti-semitic, Nazi puppet Vichy government stripped the French Rothschilds of their citizenship, confiscated their fortunes and forcedthem into exile.
They returned home after the war to recover their assets and some of their pre-war status . After re-establishing their business they began "cleaning up" in nickel by forming the Societe Metallurgique le Nickel (SLN) to further exploit the vast deposits in French-colonised New Caledonia. The family also built Penarroya - through its mines in Spain and France - into the leading European source of lead and zinc. In 1971, the family added Mokta, the Gabonese uranium miner, to their clutch of interests and, three years later, tied the three companies up in the huge IMETAL conglomerate.
Six years later, IMETAL took over the steel products manufacturer Copperweld, marking an important Rothshild entrée into the USA; a Texas-based refinery followed [Roger Moody "The Gulliver File" op cit, page 425].
While the good times of the '70s lasted, they were extremely profitable for the Rothschilds. Ranked in 1980 as thirty-eighth largest multinational in terms of annual sales, IMETAL was raking in more profits from its overseas operations than virtually any other global company ["The Gullvier File" op cit, page 426].
But then the Mitterand government nationalised the Rothschild banking interests and IMETAL, along with SLN, began to slip out of the family's hands. A tortuous decade followed and, by 1990, the company had virtually withdrawn from mining.
He answered: "Today I find it doubly sad to see Imetal, now government-controlled, staggering under the weight of the slump. All that remains for me is the remembrance of our efforts, our difficulties, our dreams" [Guy de Rothschild "The Whims of Fortune", Granada Publishing, Manchester, 1985]
See also The Rothschild Files (3 August 2003)
(Jardine/ Matheson archive. Minutes of the New Jersey Metal Refining Works Ltd. Minutes of board, annual and extraordinary general meetings of the New Jersey Metal Refining Works Ltd. The minutes begin with the first board meeting held at 3 Lombard Street, London, on 31 December 1892, and conclude with the final meeting of shareholders at the same address on 29 October 1897. The company is referred to as the 'The New Jersey Extraction Works, Limited' on the spine, and the first set of minutes explain that the property of this company was transferred to its successor, the New Jersey Metal Refining Works Ltd. The volume is labelled on the front cover 'New Jersey Metal Refining Co. Minutes 1892-7. (An interest of Matheson & Co.) Probably incorporated in the Mountain Copper Co.'.)
California journal of mines and geology, Volume 11
Report of State Mineralogist, 1892, Page 46
The Lost Confidence Mine is situated on Iron Mountain , near the summit of the range, 8 miles north of Shasta, at an elevation of 2,400 feet. The ore deposits occur in a body of porphyry of varying composition. A mile west of the mine slate replaces the porphyry, and extends west to the Gladstone Mine. An arm of the porphyry projects a little west of south, across the head of Whisky Creek, forming a V-shaped area.
The porphyry in the gulches about Iron Mountain is undecomposed, exhibiting quarters with crystalline faces. A half mile above the mine the porphyry has a fluted or columnar cleavage, resembling the columnar structure often seen in basalt. The ore lies in a very fine quartz porphyry, which changes at times into a chloritic felsite or petrosilex. The chlorite is present in large scales, probably representing crushed crystals.
A heavy iron gossan outcrops in great projecting masses just above the workings of the Lost Confidence Mine, on Slick Rock Creek, and extends up the mountain, forming its crest fully 1,000 feet above. This important mineralized belt extends about 10 miles northeasterly, across Spring and Boulder Creeks to Squaw Creek. A number of valuable silver mines are located on it. The Lost Confidence Mining Company owns about a mile of the deposit, beginning at Slick Rock Creek. One of the most interesting and valuable properties owned by this company is a body of pure hematite ore, covering about 40 acres. No development has yet been made, but every advantage exists for a great industry here. The iron is apparently inexhaustible, very pure, and with an inclined tramway built the Sacramento River could be cheaply place on the cars. The iron is separated from the silver vein by a dike of porphyry 300 feet wide. There are two ledges or deposits carrying silver, separated by a stratum of decomposed quartz porphyry 1 to 3 feet wide, and dipping to the northwest. The foot wall or silver vein is 10 to 30 feet thick. It consists of copper sulphurets, 80 to 150 ft. thick. It is worked for both gold and silver, containing them in the proportion of 10 silver to 1 gold. A large amount of native copper is saved every month by allowing the water which runs from the mine to pass through a flume several hundred feet long filled with scrap iron.
California journal of mines and geology, Volume 12-13
Report of State Mineralogist, 1894, Page 337
Iron Mountain Mine. – It is 8 miles N.E. of Shasta, on Iron Mountain , and comprises 1 mile square of ground, including three claims. The course of the mineral body is N.E. and S.W. and it can be traced for over 2 miles. It is apparently the iron head or gossan cause by bevy mineral springs permeating the fissure and surrounding rocks. The mass has been cross-cut in places over 500 ft. without reaching its boundaries. As depth is reached, the ferruginous and cupriferous oxidized mass changes to massive sulphides, sometimes of a steely nature and hardness. Tunnels have been run in, on what is taken for one of the walls, a distance of 500 ft., and a series of parallel cross-cuts made every 50 ft.; some of these are several hundred feet in length, all within the ore belt. The works from the upper tunnel have been entirely honey-combed and the ore sent into the mill. Near the surface the ore carries iron, copper, silver, and gold, said to yield in the mill 40 oz. silver and $1 gold. As depth is attained the percentage of gold increases. The reduction works include a fine 20 stamp dry-crushing mill and Bruckner furnace, furnace, 12 amalgamating pans, and 6 settlers, with a capacity of 75 tons per day. Has lately changed owners.
These injuries are a continuing negligent imminent hazard with felonious unlawful detainer and breach of warrantee for patent title from President Abraham Lincoln, May 1st, 1862; and breach of patent title from Governor Newton Booth, January 4th, 1875.
Economist Llewellyn Rockwell has written, "Private property is the real human right, and the foundation of all freedom. If a church can't own its building, there can be no freedom of religion. If a newspaper can't own its newsprint, there can be no freedom of the press. If there is no private land there can be no freedom of speech."
The subject of wetlands protection has offered the federal government a pretext for an unprecedented assault upon private property. Congressman Don Young (R-AK) has cogently summarized the issue:
"There are those in this country who in the name of environmental protection would seek to destroy the right to use your own land. At best these extremists tend to believe that our traditional notions of private property are old-fashioned throwbacks to our capitalist past that have outlived their usefulness. At worst they believe that all resources are to be shared by the masses and that they should be "managed" by the government for the benefit of all. If anyone can understand the practical difference between the central government managing the land for the collective benefit of the masses as Karl Marx suggests -- or for the collective benefit of the "environment" -- please explain it to me. I see no real difference."
The word Minnesota comes from the Dakota name for the Minnesota River : Mnisota . The root mni (also spelled mini or minne ) means, "water". Mnisota can be translated as sky-tinted water or somewhat clouded water .
FERC EXEMPTION ID #F 1967-34 WATER RECLAMATION PLAN
The State policies described in Water Code Sections 461 and 13510 are in the best interest of Iron Mountain Mine and the Township of Minnesota . The majority of jurisdictions in Shasta County have adopted measures to promote water reclamation. This chapter is necessary to protect the common water supply of the region which is vital to public health and safety, and to prevent endangerment of public and private property. Shasta County is highly dependent on limited domestic water for domestic, agricultural and industrial uses. The reliability of the supply of domestic water is uncertain. By developing and utilizing reclaimed water, the need for exportable water can be eliminated. In light of these circumstances, certain uses of potable water may be considered unreasonable or to constitute a nuisance where reclaimed water is available or production of reclaimed water is unduly impaired. Reclaimed water would be more readily available in seasons of drought when the supply of potable water for nonessential uses may be uncertain.
It is the policy of the Iron Mountain Mine and the Township of Minnesota that reclaimed water shall be used within the jurisdiction wherever its use is economically justified, financially and technically feasible, and consistent with legal requirements, preservation of public health, safety and welfare, and the environment.
The following terms are defined for purposes of this chapter:
A. “Agricultural purposes” include the growing of field and nursery crops, raw crops, trees, and vines and the feeding of fowl and livestock.
B. “Artificial lake” means a human-made lake, pond, lagoon, or other body of water that is used wholly or partly for landscape, scenic or non-contact recreational purposes.
C. “Commercial office building” means any building for office or commercial uses with water requirements which include, but are not limited to, landscape irrigation, toilets, urinals, and decorative fountains.
D. “Reclaimed water distribution system” means a piping system intended for the delivery of reclaimed water separate from and in addition to, the potable water distribution system.
E. A “greenbelt area” includes, but is not limited to, golf courses , cemeteries, parks and landscaping.
F. “Industrial process water” means water used by any industrial facility with process water requirements which include, but are not limited to, rinsing, washing, cooling and circulation, or construction.
G. “Off-site facilities” means water facilities from the source of supply to the point of connection with the on-site facilities, normally up to and including the water meter.
H. “On-site facilities” means water facilities under the control of the owner, normally downstream from the water meter.
I. “Potable water” means water which conforms to the Federal, State and local standards for human consumption.
J. “Reclaimed water” means water which, as a result of treatment of wastewater, is suitable for a direct beneficial use or controlled use that would not otherwise occur (see Water Code Section 13050(n)).
K. “Water discharge” means water deposited, released, or discharged into a sewer system from any commercial, industrial, or residential source which contains levels of any substance or substance which may cause substantial harm to any water treatment or reclamation facility or which may prevent use of reclaimed water authorized by law.
A. General. Upon adoption of this chapter, the Township shall prepare and adopt by resolution, a water reclamation master plan to define, encourage, and develop the use of reclaimed water within its boundaries. The master plan shall be updated not less often than every five years.
B. Contents of the Reclamation Master Plan. The master plan shall include, but not be limited to, the following:
1. Plants and Facilities. Evaluation of the location and size of present and future reclamation treatment plants, distribution pipelines, pump stations, reservoirs, and other related facilities, including cost estimates and potential financing methods;
2. Reclaimed Water Service Areas. A designation, based on the criteria set forth in this chapter, of the areas within the Township that can or may in the future use reclaimed water in lieu of potable water. Reclaimed water uses may include, but are not limited to, the irrigation of greenbelt and agricultural areas, filling of artificial lakes, and appropriate industrial and commercial uses;
3. Designate Tributary Areas. For each water reclamation facility identified in the master plan, designate proposed tributary areas. Within such areas, discharges to the sewage system shall be subject to permitting, monitoring and control measures to protect public health, safety and public and private property;
4. Quality of Water to be Reclaimed. For each water reclamation treatment facility, evaluate water quality with respect to the effect on anticipated uses of reclaimed water to be served by each treatment facility. Evaluate sources of waste discharge and sewer inflow that may, directly or cumulatively, substantially contribute to adverse water quality conditions (including but not limited to total dissolved solids, sodium, chloride and boron) in reclaimed water;
5. Tributary Protection Measures. Develop recommended control measures and management practices for each designated tributary area to maintain or improve the quality of reclaimed water. Such control measures may include capital improvements to the sewer collection system and waste discharge restrictions for industrial, commercial and residential discharges;
6. Mandatory Reclaimed Water Use. For each reclaimed water service area, evaluate whether greenbelt irrigation, agricultural irrigation, commercial office buildings, filling of artificial lakes, or industrial processes shall be limited to the use of reclaimed water. As appropriate, mandate construction of reclaimed water distribution systems or other facilities in new and existing developments for current or future reclaimed water use as a condition of any development approval or continued water service, if future reclamation facilities are proposed in the master plan that could adequately serve the development. Identify resources and adopt measures to assist water users in the financing of necessary conversions;
7. Rules and Regulations. Establish by resolution, general rules and regulations governing the use and distribution of reclaimed water;
8. Public Awareness Program. Establish a comprehensive water reclamation public awareness program;
9. Coordination Among Agencies. An examination of the potential for initiating a coordinated effort between the Township and other regional agencies to share in the production and utilization of reclaimed water.
A. Existing Potable Water Service.
1. Preliminary Determination. Based upon the master plan, upon the designation of each reclaimed water service area or the commencement of the design of new reclaimed water facilities, the Township shall make preliminary determinations as to which existing potable water customers shall be converted to the use of reclaimed water. Each water customer shall be notified of the basis for a determination that conversion to reclaimed water service will be required, as well as the proposed conditions and schedule for conversion.
2. Notice. The notice of the preliminary determination, including the proposed conditions and time schedule for compliance, and a reclaimed water permit application shall be sent to the water customer by certified mail.
3. Objections – Appeals. The water customer may file a notice of objection with the Township within 30 days after of any notice of determination to comply is delivered or mailed to the customer, and may request reconsideration of the determination or modification of the proposed conditions or schedule for conversion. The objection must be in writing and specify the reason for the objection. The preliminary determination shall be final if the customer does not file a timely objection. The Township Manager or his designee, shall review the objection with the objector, and shall confirm, modify or abandon the preliminary determination.
B. Development and Water Service Approvals.
1. Conditions. Upon application by a developer, owner or water customer (herein referred to as “applicant”) for a tentative map, subdivision map, land use permit, or other development project as defined by Government Code Section 65928 the Township staff shall review the master plan and make a preliminary determination whether the current or proposed use of the subject property is required to be served with reclaimed water or to include facilities designed to accommodate the use of reclaimed water in the future. Based upon such determination, use of reclaimed water and provision of reclaimed water distribution systems or other facilities for the use of reclaimed water, and application for a permit for such use may be required as a condition of approval of any such application, in addition to any other conditions of approval.
2. Alterations and Remodeling. On a case-by-case basis, upon application for a permit for the alteration or remodeling of multifamily, commercial or industrial structures (including, for example, hotels), the Township staff shall review the master plan and make a preliminary determination whether the subject property shall be required to be served with reclaimed water or to include facilities designed to accommodate the use of reclaimed water in the future. Based upon such determination, use of reclaimed water and provision of reclaimed water distribution systems or other facilities for the use of reclaimed water, and application for a permit for such use, may be required as a condition of approval of the application.
3. Notice of Determination. A notice of the basis for the preliminary determination, proposed conditions of approval and schedule for compliance shall be provided to the applicant prior to approval of the development application.
C. Reclaimed Water Permit Process. Upon a final determination by the Township Manager that a property shall be served with reclaimed water, or adoption of a condition of development approval requiring use or accommodation of the use of reclaimed water, the water customer, owner or applicant shall obtain a reclaimed water permit.
1. Permit Conditions. The permit shall specify the design and operational requirements for the applicant's water distribution facilities and schedule for compliance and shall require compliance with both the California Department of Health Services Wastewater Reclamation Criteria (see California Code of Administrative Regulations, Title 22), and requirements of the Regional Water Quality Control Board.
2. Plan Approval. Plans for the reclaimed and potable water distribution systems for the parcel shall be reviewed by the Township Manager or his designee and a field inspection conducted before the permit is granted.
3. Iron Mountain mine joint venturers to manufacture sodium sulfur (Nas) and zinc air batteries, Cadmium sulfide and telluride solar cells.
4 Iron Mountain mine joint venturers to construct superconducting supergrid.
5.Iron Mountain mine joint venturers to precast seismically engineered containment structures, schools, hospitals, and housing.
6. Permit Issuance. Upon approval of plans, the permit shall be issued. Reclaimed water shall not be supplied to a property until inspection by the Township Manager or his designee determines that the applicant is in compliance with the permit conditions.
D. Temporary Use of Potable Water. Upon the approval of the Township Manager or his designee, potable water may be made available temporarily. Before the applicant receives temporary potable water, a water reclamation permit must be obtained for new on-site distribution facilities. Prior to commencement of reclaimed water service, an inspection of the on-site facilities will be conducted to verify that the facilities have been maintained and are in compliance with the reclaimed water permit and current requirements for service. Upon verification of compliance, reclaimed water shall be served to the parcel for the intended use. If the facilities are not in compliance, the applicant shall be notified of the corrective actions necessary and shall have at least 30 days to take such actions.
E. Reclaimed Water Rate. The rate charged for reclaimed water shall be established by resolution of the Township.
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The Township of Minnesota community site (that burned up on day five in the Motion wildfires 2 years ago) is located at the Crown Point lode mining claim in Section 1, 32 N, 6W of Mount Diablo meridian. This land is servient heritage to the Camden and Magee Agricultural College land patent of 360 acres in Section 34, 33N, 6W, purchased with Bounty Warrants for land from the United States Army as payment to soldiers for service to the nation, which patent was signed May 1, 1862 by President Abraham Lincoln. This patent is also the apex of the Flat Creek Mining District, originally the "Lost Confidence Mine", as recorded April 8, 1880.
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|Move Your Money - Eugene Jarecki|
The "Spiritual Sanctuary" is to be located in Section 22, 33N6W MD, upon the "Owl" consolidated lode mining claims.
(The "Owl, Gold Bar, & Grey Squirrel" lode mining claims).
…to their and their use and behoof forever.
Iron Mountain During the 1890s when Mountain Copper Company owned Iron Mountain Mine, a company town named Iron Mountain was located on the mountain. It was perched on the mountainside near the mine shafts and included a one-story, 7-room cottage with two large brick fireplaces and a wide porch all around for the manager, three superintendent houses containing four or five bedrooms, a two-story, 16-room staff quarters' building a large mess and entertainment hall complete with dining room and kitchen, canteen, billiard room and music room, a hospital, approximately 25 family cottages, and two 16-room bunkhouses for the single men employees. Also on the property was a tennis court, a football field, and the Iron Mountain Post Office. In 1897, a fire destroyed many of the buildings. In 1922, the mine was abandoned but continued to operate intermittently until as late as 1963 when all mining operations ceased.
Matheson Matheson was established as a direct result of Iron Mountain Mine and served as the railroad terminus for the mine. A Southern Pacific Railroad siding operated at Matheson until 1951. Ore was hauled from the mine to this siding. In 1921, the rail line was replaced by the Iron Mountain Tramway (aerial). In 1953, the tramway was extended one additional mile from Matheson to Keswick. It operated intermittently into the 1970s. Remnants of it still exist.
The Matheson Post Office was established in 1922 and operated until 1962. Matheson Road exists off of Iron Mountain Road and is near the Chappie-Shasta OHV area.
The following excerpts are taken from the Iron Mountain Mine entry out of the book titled The Dictionary of Early Shasta County History by Dottie Smith
"...Originally worked as a gold mine, later silver, until the true wealth of the mine was discovered to be copper, iron, and sulphur...Discovered in the early 1860s by Charles Camden and William Magee. James Sallee became a 3rd partner when he discovered a silver vein. In 1884, Camden, Magee, and Sallee leased the mine to a Honolulu company who soon returned the property and equipment back to them. Camden, Magee, and Sallee again operated until 1894 when they sold to Mountain Copper Co. Ltd. who built (the next year) a smelter at Keswick and the Iron Mountain Railway, a 3-ft. gauge mountain mining railroad which connected the mine with the Keswick smelter and Southern Pacific tracks at Keswick. In 1898, 221,895 tons of ore were extracted from the mine. The smelter contained two blast furnaces and 80 open-roasting stalls where ore was heap roasted or burned in the open air to reduce the sulphur content, sometimes burning 350,000 tons at a time. Prior to the arrival of electricity, the smelter furnaces and train engines were fueled with wood supplied by a 75-man woodcutting crew who cut down almost all the trees between Keswick and Copley and with 20,000 cords floated downriver from the Flatwoods area by Buick & Wengler. Hydroelectric power arrived in 1901 via the Volta Powerhouse owned by Keswick Electric Power Company to operate the smelter furnaces. Water was pumped 4500 ft. from the Sacramento River through a 16" pipe near the mouth of Spring Creek with the help of a Corliss-Hamilton engine and a cornish plunger pump. The smelter became a major health and environmental hazard because it released huge volumes of poisonous sulphurous dioxide gasses into the air killing most of the vegetation it came in contact with. The company made little attempts to prevent the spread of the poisonous gasses resulting in Superior Court lawsuits which closed the smelter by court order in 1907. The company built a new smelter at Martinez, and in 1920, a 2½ mile ore-hauling aerial tramway from the Hornet Mine to another railroad siding at Matheson and began shipping ore via the railroad to the Martinez smelter for processing. A company town was perched on the hillside near the mine shafts and included a one-story, 7-room cottage with two large brick fireplaces and wide porch all around for the manager, three superintendent's houses containing 4 or 5 rooms, a 2-story, 16-room staff quarters' building, a large mess and entertainment hall which included a dining room and kitchen, canteen, billiard room, and music room, about 25 family cottages, and two 16-room bunkhouses for men. Also on the property was a tennis court and football field. In 1897 a fire destroyed the silver mill, a sawmill, all the stores, the office, the assay department, hospital, the mess and entertainment hall, plus a number of small buildings. But mining resumed and buildings were reconstructed. In 1922 the mine was abandoned. Reopened periodically until 1927. Gossan was extensively mined for gold from 1931 until 1941. Reforestation attempted after World War II when 2.6 million seedlings were planted but the acidic soil and slope instability rendered the project a failure. Underground mining ceased in 1956 and open-pit mining was undertaken at Brick Flat. All mining operations ceased in 1963. Sold to Stauffer Chemical Co. in 1967 who sold to Iron Mountains Inc. in 1976. Placed on the Environmental Protection Agency (EPA) National Priority List and/or the Top 10 Hazardous Site List in 1983 making it eligible as a Superfund cleanup site. Mine holdings include the Complex, Hornet, Lost Confidence, Mattie, No. 8, Old Mine, Brick Flat, and Richmond Mines (Brick Flat, Hornet and Richmond Mines were pyrite mines). The mine was responsible for the creation of the communities of Iron Mountain, Keswick, Matheson, and Taylor. Total copper output was +342,000,000 lbs. making it largest Shasta County producer. Major modifications and changes currently underway to make the mine environmentally safe. Mine was important to Shasta County's economy for 70 years."
Using the results of assays and information developed during drilling, drifting and mining of the various segments of the Iron Mountain ore body, geological ore reserves were developed for both the massive sulfide and disseminated ores by Mountain Copper Company. Reserves of the gossan ore were developed through the cooperation between engineers of Mountain Copper Company and Stauffer Chemical Company. Subsequent checks of these reserve figures have been made by Southwestern Engineering Company and Iron Mountain Mines, Inc. In addition, various Mountain Copper Company internal checks are evident. The result of the calculations and checks is the general agreement that there presently exists at Iron Mountain Mine roughly 12,000,000 tons of proven sulfide ore with minimum average grades of 1% copper, 2% zinc, 0.02 gold and 1.5 oz. silver. Probable gossan ore is estimated at 3,000,000 tons. The combined proven geological reserves amount to 15,050,000 tons of proven sulfide and gossan ore contained within an area of roughly 300 acres. These reserves represent tonnages presently remaining in the Hornet, Mattil, Richmond Extension and the unmined Brick Flat ore bodies. No recent reserve figures have been developed for the three magnetite bodies. Remaining in place tonnages for the Old Mine, Number 8, Confidence-Complex, Camden , busy Bee, Lone Star and Okosh massive sulfide bodies are listed in various data and reports received from Iron Mountain Mines. However, no reserve calculations for these deposits are available as backup. Limited backup assay data are available for the Camden and Okosh bodies. According to this information average copper grades for the Camden and Okosh are 1.01 percent and 3.43 percent respectively. No overall averages are readily available for the Old Mine, Number 8 and Confidence-Complex but general extension of adjacent data indicates average grades may approach one percent.
Tons of proven sulfide ore in place: 14,183,000; probable reserves 1,050,000
Tons of proven gossan in place 3,050,000; probable reserves 3,795,000
Grand Total in place 17,233,000; probable reserves 4,845,000
During 1950 and 1951, a 1,798 exploration drill hole was put down by the U.S.G.S. in the vicinity of a syncline on the southeast side of the Iron Mountain mine. Located at the approximate mine coordinates 2900 north, 3650 east passed through numerous rhyolite intervals of Balaklala formation throughout its entire length. Intermittent, broad to narrow bands of disseminated sulfides were present throughout the drill hole with some intervals containing slightly greater than one percent copper. Kaiser Engineers, 1981
Balance of Trade:
The proposal forecasts the elimination of imports of at least 50,000 tons of metals annually, resulting in a net adjustment to the current trade deficit of over $150 million dollars annually.
Current market and employment impact
Cautionary Disclosure: This is "forward-looking information about prospective results of operations, financial position or cash flows that is based on assumptions about future economic conditions and courses of action and that is not presented in the format of a historical balance sheet, income statement or cash flow statement ." Examples of financial outlooks include expected revenues, net income, earnings per share and R&D spending. Material facts have not been verified. Actual results may vary. These results are highly speculative. Readers should establish their own reasonable basis for these assumptions. Verbum Sap.