Earnings Statement

Consolidated Statements of Earnings
(Unaudited)
(In Thousands)

		Three Months Ended		Six Months Ended
		June 30/99	June 30/98	June 30/99	June 30/98

Revenue from
	Products and services	$181,428	$156,997	$328,415	$288,873

Expenses
	Products and services sold	97,335	81,803	177,412	151,058
	Depreciation, depletion and reclamation	30,443	28,252	60,309	53,936
	Administration	10,932	7,628	17,839	14,426
	Exploration	4,463	6,541	10,227	12,535
	Research and development	638	608	1,133	1,174
	Interest, net	3,083	(1,267)	4,463	(3,441)

		146,894	123,565	271,383	229,688

Earnings from operations		34,534	33,432	57,032	59,185
	Income tax expense
	- current	3,723	1,006	3,803	927
	- deferred	13,694	13,061	24,990	21,089

Net earnings		17,117	19,365	28,239	37,169
Preferred securities charges		2,215	-	4,482	-

Net earnings attributable to common shares		$14,902	$19,365	$23,757	$37,169

Earnings per common share		$0.26	$0.34	$0.41	$0.65

Consolidated Statements of Retained Earnings
(Unaudited)
(In Thousands)

	Three Months Ended		Six Months Ended
	June 30/99	June 30/98	June 30/99	June 30/98

Retained earnings at beginning of period	$510,972	$505,220	$509,326	$494,608
Net earnings	17,117	19,365	28,239	37,169
Dividends on common shares	(7,213)	(7,201)	(14,422)	(14,393)
Preferred securities charges	(2,215)	-	(4,482)	-

Retained earnings at end of period	$518,661	$517,384	$518,661	$517,384

Note: See notes accompanying the consolidated financial statements.