FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, 
Section 17(a) of the Public Utility Holding Company Act of 1935 or 
Section 30(f) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person*

     Valles        Jean-Paul              

 2. Issuer Name and Ticker or Trading Symbol

Minerals Technologies Inc. (MTX)

6. Relationship of Reporting Person(s) to Issuer
    (Check all applicable)
     X     Director                    ____ 10% Owner
              Officer (give            ____ Other (specify
              title below)                         below)

      

       (Last)                 (First)                  (Middle)
                   

        Minerals Technologies Inc. 
               405 Lexington Avenue                    

 3. I.R.S. Identification
    Number of Reporting
    Person, if an
    entity (voluntary)
 		4. Statement for
    Month/Year

August 2002

                            (Street)

 New York,             NY               10174 

5. If Amendment, 
   Date of Original
   (Month/Year)

 7. Individual or Joint/Group Filing
    (Check Applicable Line)
 X  Form filed by One Reporting Person
___ Form filed by More than One Reporting
       Person
       (City)                       (State)                  (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security
    
    (Instr. 3)		 2. Transaction
    Date


    (Month/
    Day/
    Year)

 3. Transaction
    Code
    
   (Instr. 8)		 4. Securities Acquired (A)
    or Disposed of (D)

   (Instr. 3, 4, and 5)		 5. Amount of
    Securities
    Beneficially
    Owned at
    End of Month

   (Instr. 3 and
    4) 		6. Owner-
   ship Form:
   Direct (D) or
    Indirect (I)

   (Instr. 4) 		7. Nature of
    Indirect
    Beneficial
    Ownership

   (Instr. 4)
Code V Amount (A) or (D) Price
                   
                   
                   
                   

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instructions 4(b)(v).

 

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(Over)
SEC 1474 (3-99)

 

 

FORM 4 (continued)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

  

1. Title of  Derivative
    Security
   

   (Instr.3)

 2. Conver-
    sion or
    Exercise
    Price of
    Derivative
    Security		 3. Trans-
    action
    Date


    (Month/
    Day/
    Year)

 4. Trans-
    action     Code
   

(Instr. 8)

 5. Number of     Derivative
    Securities
    Acquired
    (A)  or
    Disposed
    of (D)

   (Instr. 3, 4
    and 5) 		6. Date Exercisable
    and Expiration 
    Date

    (Month/Day/Year)		 7. Title and Amount
    of Underlying
    Securities

    (Instr. 3 and 4)		 8. Price of
    Derivative
    Security

   (Instr. 5)		 9. Number of
    Derivative
   Securities
   Beneficially
   Owned at
   End of
   Month

   (Instr. 4)		 10. Owner-
      ship
      Form of
      Derivative
      Security:
      Direct (D)
      or Indirect
      (I)

      (Instr. 4)		 11. Nature
      of
      Indirect
      Beneficial
      Owner-
      ship

      (Instr. 4)
Code V (A) (D) Date
Exer-
cisable		 Expiration
Date		 Title Amount
or
Number
of Shares
Phantom Stock Units 1 for 1 6/14/02 A -- 1.016 -- * * Common Stock 1.016 49.62 -- D --
Phantom Stock Units 1 for 1 7/1/02 A -- 55.758 --  * * Common Stock  55.758 49.32  -- D --
Phantom Stock Units 1 for 1 7/1/02 A -- 16.250 --  * * Common Stock 16.250 48.99  -- D --
Phantom Stock Units 1 for 1 7/25/02 A -- 53.981 -- * * Common Stock  53.981 37.05  -- D --
Phantom Stock Units 1 for 1 8/6/02 A -- 55.633 --  * * Common Stock 55.633 35.95 2197.747 D --

Explanation of Responses:

*

The Phantom Stock Units were accrued under the Minerals Technologies Inc. Non-Funded Deferred Compensation and Unit Award Plan for Non-Employee Director's and are to be settled in cash upon the reporting person's retirement.

 

 

S. Garrett Gray for Jean-Paul Valles August 12 , 2002

**

 Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). 		Jean-Paul Valles
**Signature of Reporting Person  		Date

Note:

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