The property at Casapalca also is controlled by the Cerro de Pasco Company. In one mine there, a 5000 foot adit cuts the vein 2500 feet below the outcrop; other adits are higher. The ore is sent to the smelter by an aerial tram. The output is 2500 tons a month, two per cent copper, and 40 ounces silver. The Casapalca smelter has three blast furnaces and four barrel type converters. The flue dust is briquetted and returned. It does custom work for independent miners, and in 1916 treated 175,000 dry tons, producing nearly 20,000,000 pounds of fine copper, 3,000,000 ounces of silver, and 3587 of gold; the capacity is now increased 50 per cent. A new smelter has been erected at Yauli by the Company. The Cerro de Pasco property is said to be the most costly ever developed; the ores are refractory. With the cost production eight cents a pound on an output of over 70,000,000 tons a year, $4.20 a share is earned on 14 cent copper, double on 20 cent copper. The Corporation’s income in 1916 was $3,676,000, about 12 per cent on the investment; about 8 per cent was paid in dividends, not an undue amount on what was considered by many a very large risk. Another great copper property, also owned by Americans, is at Yauricocha, about 50 miles south of Yauli, and west of the Oroya-Huancayo Railway. Four hundred and fifty thousand tons averaging 16 per cent copper and 2¹⁄₂ ounces of silver per ton, five per cent of the probable ore in sight, are now ready for stoping. The smelter and blast furnace have an output of 15-18 tons of blister copper daily. Native labor of fair quality may be obtained at one fifth of the cost in the United States, while the ore is said to be six times as rich as most of that in the West. Considerable water power is available. An automobile road has been constructed from the station Pachacayo 60 miles to the mine. There are other rich copper deposits in Peru, in Huancavelica, Cuzco, Arequipa, Ica, Apurimac, Junín, Ancash, Cajamarca; but as yet none of them is in full production. Ferrobamba in the Department of Cuzco, 45 miles west of the city, at an altitude of 13,000 feet, is one of the largest properties, with 207 claims over 225 acres. The concession includes water rights; 120,000 horse power is available. The ore can be worked by steam shovels. One field is estimated to contain 12,000,000 tons of ore, 6 per cent copper, 3 ounces silver and 9 grams gold. Its inaccessibility has so far prevented extensive operations. The Anaconda Copper Company owns a copper property in the Department of Arequipa. Copper matte is exported from Queruvilca, Otuzco, Santiago de Chuco, and Cajabamba.