Homestake Mining Company
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.
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.: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.:72–73
The Homestake Mining Company started with ten acres in 1877. Through land purchases and acquisitions of the Highland, Deadwood, Terra, Caledonia, and Father De Smet Mining Companies, the land area was increased to two thousand six hundred and twenty-four acres. The mine created forty-one miles of underground trams.
Homestake Mining Company formed a hydro-electric plant in 1910 and another in 1917 referred to as Plant #1 and Plant #2.
The Homestake Mining company uses a gold cyanidation technique that has been banned in many countries including Germany, Czech Republic, Hungary, Costa Rica and some Argentine provinces. In the United States Montana and Wisconsin have bans but courts in Colorado and South Dakota have ruled against bans.
1906 - 1,500,00 tons, $5,000,000
1925 - 1,589,701 tons, $5,999,074
1933 - 1,432,195 tons, $13,000,000
1880 - $450,000
1891 - $1,175,000
1899 - $1,175,000
1878-1884 Samuel McMaster
1884-1914 Thomas J. Grier
1914-1944 Edward H. Clark
1944-1960 Donald H. McLaughlin
1960-1970 John K. Gustafson
1970-1977 Paul C. Henshaw
1914-1918 Richard Blackstone
1918-1936 Bruce C. Yates
1936-1953 Guy N. Bjorge
1953-1957 Abbott H. Shoemaker
1957-1972 James O. Harder
1972-1975 Donald T. Delicate
- Bronson, W., and Watkins, T.H., 1977, Homestake, San Francisco: Homestake Mining Company
- Kingsbury ,George Washington (1915). "History of Dakota Territory, Volume 4". History. S.J. Clarke Publishing Company. pp. 846–848. Retrieved October 25, 2015.
- Beardshear, Iva (June 2, 2015). "A profile of Nemo, South Dakota". "Some History of Lawrence County" (1981). Lawrence County Historical Society. Retrieved October 25, 2015.
- Parker, Bob; Mayer, Tom (1981). "Hydro-electric plants #1 AND #2". Lawrence County Historical Society. Retrieved October 25, 2015.