The Chicago Tribune is reporting:
Dallas-based Eagle Materials Inc., poised to start operating in LaSalle County, estimates it would sell at least 900,000 tons of sand a year from a single mine on 564 acres. At $110 a ton, the company estimates the mine will generate $99 million a year over the next 45 years, according to a state permit application. Analysts who follow Eagle Materials say about $40 of the $110-per-ton price is pure profit.
"Mining frac sand is a lot like mining regular sand except it's wildly profitable, and that's why everyone wants to do it," said Todd Vencil, managing director of equities research at Sterne Agee, a privately owned brokerage firm based in Birmingham, AL.
The company paid $8 million to buy the land, according to property and state records, and it expects to invest $25 million to $50 million to get the mine running, according to company filings.