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Final

HIST 113- Final Articles.docx

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Department
History
Course
HIST 113
Professor
Catherine Briggs
Semester
Winter

Description
Creating a New Staple Capital Technology and Monopoly in BCs Resource Sector 19011925o Main Issue o Thesis o Emergence of Zinc mining reflected a fundamental reconstructing of the industry as search went from deposits of gold and silver to copper lead and zinc This caused tech economics of scale and capital investment to be the hallmarks of the new industry o Points o Describes the mining industry in BCo Zinc production and how it was the most profitable sector of the industry from early 1900s to mid 1920so increasing amounts of zinc ore were found in the silverlead ore in BCo Zinc was seen as a contaminant and smelters penalized mineowners who shipped ore that was over 10 in zinc o Concern over the zinc problem by 1905 caused federal govt that responds to lobbying efforts of mineowners appointed a commission to investigate the zinc resources of BC and the conditions affecting their explorationo Mining companies looked at ways zinc could be overcome in their mining industryo Efforts to find the key cause of zinc ore caused tech and capital to play a key role o 19011925 mining industry in BC went from high precious metals to low grade ore o 1920s large corporations in central Canada and USA became key players within industry smaller companies still existed but played less importance o Emergence of a new branch of the industry the extraction the concentration and the refining of zinc ore explains process and consequences of restructuring of mining o Major resource industry experienced what can be Canadas second industrial revolutiono In 1925 the total value of mineral production in BC tripled to 46 million dollars and lead and zinc were the most lucrative activity and was a large preserve for Cominco a subsidy of the Canadian Pacific Railway o Comincoemerged at the end of the interwar period as most successful mining company to operate in BC In 1966 govt publication awarded it for producing half of the metal wealth in BC Cominco was successful when it was able to exploit the massive leadzinc ore body at its Sullivan mine and to treat Zinc successfully at its Trail refinery Cominco succeeded where other companies failed as they saw the leading role of zinc in the industry Substantial Capital was needed to support extensive programme of research and to profit from economies of scale by combing transportation network with mining concentrating smelting and refining operations as Cominco was able to do this with its plant at Trail its facilities at Kimberly and connecting rail link owned by its parent company the Can Pacific RailwayLocal investors could not mobilize such resources o Buoyant 1890s the mining industry rivaled those of Australia and South Africa o Because of Kootneys there was a collapse in the shares of mining companies in the London Stock Exchange and decline in value in the mineral contento Difficulties bought to the attention of the federal govto Reps of Slocanarea mines requested financial aid from Ottawa to help economy
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