Earnings Statement

Consolidated Statements of Earnings
(Unaudited)
(In Thousands)

				Three Months Ended				Six Months Ended
				June 30/00		June 30/99		June 30/00		June 30/99
Revenue from
	Products and services			$163,495		$181,428		$305,922		$328,415
Expenses
	Products and services sold			98,209		98,103		183,819		178,180
	Depreciation, depletion and reclamation			27,577		30,443		52,127		60,309
	Administration			8,029		10,164		15,668		17,071
	Exploration			5,598		4,463		9,648		10,227
	Research and development			651		638		1,367		1,133
	Interest and other			(1,207)		3,083		(2,334)		4,463
				138,857		146,894		260,295		271,383
Earnings from operations				24,638		34,534		45,627		57,032
	Other income			-		-		1,093		-
	Earnings before income taxes			24,638		34,534		46,720		57,032
	Income tax expense
		- current		1,224		3,723		2,524		3,803
		- deferred		10,544		13,694		19,762		24,990
Net earnings				12,870		17,117		24,434		28,239
Preferred securities charges, net of tax				2,192		2,215		4,364		4,482
Net earnings attributable to common shares				$10,678		$14,902		$20,070		$23,757
Earnings per common share				$0.19		$0.26		$0.36		$0.41

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

			Three Months Ended				Six Months Ended
			June 30/00		June 30/99		June 30/00		June 30/99
Retained earnings at beginning of period			$554,465		$510,972		$552,154		$509,326
Net earnings			12,870		17,117		24,434		28,239
Dividends on common shares			(6,916)		(7,213)		(13,997)		(14,422)
Preferred securities charges, net of tax			(2,192)		(2,215)		(4,364)		(4,482)
Retained earnings at end of period			$558,227		$518,661		$558,227		$518,661

Note: See notes accompanying the consolidated financial statements.