3 - two principal affiliated companies. The Marcona Corporation is engaged in the production and marketing of iron ore products, ocean transportation, aragonite a calcium carbonate dredged in the Bahamas and sold primarily to the cement and glass industries in the United States and Marconaflo, a patented process for handling raw materials in slurry form. Utah owns approximately 25% of Cyprus-Pima Mining Company, a producer of copper concentrates from a mine and mill in Arizona. Of more significance are three subsidiary companies Utah Development Company which conducts our operations in Australia; Lucky Mc Uranium Corporation which has been formed for the purpose of owning and managing all of Utah's uranium business to overcome Department of Justice concern; and Ladd Petroleum Corporation which conducts an oil and gas business in the United States and in a more modest way in Canada. Utah Development Company (UDC) is 89.2% owned and in turn owns 85% of Central Queensland Coal Associates (CQCA) with Mitsubishi now owning the balance. It also holds a 1/3 interest in Mount Goldsworthy which ships approximately 7.5 million metric tonnes of iron ore from mines in Western Australia. UDC owns 100% of the Blackwater Mine with annual shipments of coking coal of approximately 3.3 million tonnes while Central Queensland Coal Associates ships approximately 12.0 million tonnes from coking coal mines at Goonyella, Peak Downs, and Saraji. Through Utah Shippers, UDC is also engaged in the ocean shipping business because it sells approximately 25% of its coking coal to Europe on a delivered basis with the balance being sold to Japanese steel mills on an F.O.B. basis.