Page Six 16 1/2 million tons of iron ore over a 7-year period starting with 1 1/2 million tons in calendar year 1966 and 2 1/2 millions tons thereafter. I do not expect this operation to make any substantial profit contribution to Utah during our current year, but thereafter it should provide a new attractive source of profits. Our share of the capital expenditures involved is approximately 17 1/2 million dollars. Utah is performing the construction work on this project for a joint venture which includes Consolidated Gold Fields and Cyprus Mines as our partners. Utah has also entered into a contract with Mitsubuishi to provide 13 1/2 million tons of coking coal from the Blackwater area of Queensland with production starting initially at 1/2 million tons in 1968 and increasing to 1 1/2 million tons by 1971. Our projected capital investment is 18 million dollars. There are still several conditions that must be satisfied before this contract can be considered finalized, the most important of which is the testing by the Japanese steel mills of the bulk samples that we are providing. This program is currently under way and we are optimistic about its outcome. As a result of these two contracts our backlog of mineral sales contracts again hit a new high (see chart). Nothing is included for either Marcona or Pima but the backlog at the end of the year was 502 million dollars and almost 25 times the size it was 10 years ago and over twice as large as it was 2 years ago. Another program of great significance to us is the further expansion of our Navajo coal mine. It was almost 5 years ago exactly that we first began our efforts to interest Southern California Edison in the potentialities of supplying the growing energy needs of their market in Southern California from