Kennedy Mine
From Wikipedia, the free encyclopedia
The Kennedy Gold Mine is a gold mine in Jackson, California, one of the deepest mines in the world. It closed in 1942 and together with nearby Argonaut Mine, is registered as California Historical Landmark #786. It has since been re-opened as a tourist attraction.
The mine is named for Andrew Kennedy, an Irish immigrant, who reportedly discovered a quartz outcropping in the late 1850s near what is now California State Highway 49. The Kennedy Mining Company was formed in 1860 when he and three partners began digging shafts near today's mine property entrance. The mine operated sporadically until it closed in 1878. In 1886 fifteen people invested $97,600 to reopen the mine under the corporate entity of the Kennedy Mining and Milling Company.
In 1898 the company began sinking a new shaft 1,950 feet (591 m) east of the original shafts. This East Shaft would eventually reach a vertical depth of 5,912 feet (1,792 m), the deepest vertical depth gold mine in North America at the time. In 1928 a surface fire burned all the structures except two. All other buildings and foundations were built after 1928. The company operated the mine until 1942 when the U.S. Government closed gold mines because of the war effort.
At the time of its closing, the mine had produced some $34.3 million (according to the California Department of Conservation) when gold was valued at $20.67 and $35.00 per ounce. The company paid its stockholders $5.8 million between 1886 and 1937. Over 95% of these dividends were paid at $20.67 per ounce.
[edit] Reference
- Mining History. City of Jackson, California. Retrieved on September 16, 2005.
[edit] External links
