OAKLAND AD CLUB June 1, 1955 Gentlemen: I have been asked to describe to you what Utah Construction Company does and is doing. Our company is part mining company, part construction company, and part holding company. The investments which it owns are an outgrowth of its construction and mining activities and include subsidiary and affiliated companies concerned with foreign mining, the sale and transportation of ore, foreign and domestic construction, the ownership and operation of rental projects. The wide range of our activities would indicate we are a large company and perhaps we are as construction companies go. However, none of the construction companies are big compared to the industrial giants in other fields. WHAT DO WE DO? As miners we own and operate a metallurgical coal mine in Arkansas which is used as coking coal for blast furnaces in Colorado. The output of our iron mine in Utah has been sold as far east as Pennsylvania, as far west as Japan, but mostly finds its way to steel plants at Geneva, Utah or Fontana, California. From our mine in British Columbia we are sending iron ore to Japan. We have under investigation or lease properties where we are prospecting for uranium, phosphates, and other basic minerals. In New Mexico we have located a coal deposit of immense magnitude that could well prove a vast source of low cost power in the days ahead. We are also a poorer but wiser partner in a petroleum syndicate that is the proud possessor of one small producing well and nine very dry holes. Perhaps our most noteworthy accomplishment in mining is in Peru where we in association with Cyprus Mines Corporation opened up the vast Marcona iron ore deposit. In four months we built a town, a port, 20 miles of highway, installed crushing and conveyor facilities, opened up the mine, and had ore flowing to U. S. Steel mills. In less than a year we had 20 full cargoes of ore leaving the port in one month.