Homestake Mining Company

From Wikipedia, the free encyclopedia
Jump to: navigation, search

The Homestake Mining Company was one of the largest gold mining businesses in the United States from the 19th century through the beginning of the 21st. It was merged into the Canadian-based Barrick Gold Corporation in 2002.

Homestake's first and most famous operation was the Homestake Mine in Lead, South Dakota.

George Hearst, Lloyd Tevis, and James Ben Ali Haggin, bought the Homestake Mine property from its discoverers for $70,000, and incorporated the Homestake Mining Company, on 5 Nov. 1877, to operate it. They began selling shares in 1879 on the New York Stock Exchange, the first mining stock ever listed.[1]:31 Homestake would become the longest-listed stock in the history of the New York Stock Exchange.

The company diversified in the 1950s, operating or becoming the major investor in the Buick Mine, Compania Minera del Madrigal, Bulldog Mine, and United Nuclear-Homestake Partners. Subsidiary income amounted to $83 million of Homestake's $135 million in 1976.[1]:72-73

Ore Production[edit]

1906 - 1,500,00 tons, $5,000,000

1925 - 1,589,701 tons, $5,999,074

1933 - 1,432,195 tons, $13,000,000

Dividend[edit]

1880 - $450,000

1891 - $1,175,000

1899 - $1,175,000

Superintendents[edit]

1878-1884 Samuel McMaster

1884-1914 Thomas J. Grier

Presidents[edit]

1914-1944 Edward H. Clark

1944-1960 Donald H. McLaughlin

1960-1970 John K. Gustafson

1970-1977 Paul C. Henshaw

Managers[edit]

1914-1918 Richard Blackstone

1918-1936 Bruce C. Yates

1936-1953 Guy N. Bjorge

1953-1957 Abbott H. Shoemaker

1957-1972 James O. Harder

1972-1977 Donald T. Delicate

References[edit]

  1. ^ a b Bronson, W., and Watkins, T.H., 1977, Homestake, San Francisco: Homestake Mining Company