Henry B. Welsh of Hay, called for tenders "to carry by land and water, 1,000 tons of copper ore via Hay, from the Mount Hope Copper Mines, 150 miles from Hay, to the smelting works, Adelaide". A second discovery of copper ore in the Mount Hope vicinity was made soon afterwards by McDowell and Mackenzie, in a porphyry formation just three miles or so south of the Mount Hope mine, which they named the Great Central Copper Mine. In February 1874 a third discovery was made in the district (by R. D. Jones), six miles north-east of the Mount Hope mine. In September 1874 the Mount Hope Copper Mining Company (Limited) was registered by the company manager, Thomas Clay, with a nominal capital of sixty thousand pounds (made up of five pound shares fully subscribed). Shareholders included a selection of businessmen (mostly from Hay) and district landholders. Richard Hollow, with “thirty years’ experience in copper mining in Cornwall and South Australia”, was appointed manager of the Mount Hope Mine. A manager’s house, a store, blacksmith's shop and miners’ huts were constructed at the mine site and three water tanks were excavated. However, development of the Mount Hope Mine was hampered by a shortage of water and the cost of transporting the ore. In February 1877 it was reported that at a special meeting at Hay of the Mount Hope Copper Mining Company "the chairman stated that all operations at the mine had been suspended until such times as the shareholders should agree upon some plan by which to work the mine". In the interim “the company's property would be in charge of a responsible caretaker”. In 1878 the company made a call on shareholders of sixpence in the pound. By November it was disclosed that “there were 2000 shares forfeited for non-payment of calls”. In February 1881 the principals of the Mount Hope Copper Mining Company began the process of setting up a new company. In January 1882 the old company was dissolved and its assets transferred to the New Mount Hope Copper Mining Company. Mount Hope township The formation of the New Mount Hope Copper Mining Company involved an injection of capital from the smelting company, Messrs. W. J. Weston and Co. of Sydney (representing half the share value) and the transfer of the registered office from Hay to Sydney. The construction of smelting furnaces at Mount Hope were