9. ore producers which sell in U. S. dollars but pay a portion of their costs in Australian dollars, where the rate has changed from a pre-Smithsonian $1.115 to the current $1,415. Needless to say, the Australian producers are seeking relief from the Japanese customers and will press their case very hard. There is no assurance that relief is in sight but the Japanese in the past have shown a sense of equity in dealing with their customers not readily found in U. S. or European buyers. In Utah's 1973 fiscal year we expect Marcona's iron ore earnings will increase by less than shipping earnings will decline. Goldsworthy's earnings will be lower than last year until some price adjustment is achieved. This is discouraging but far from disastrous insofar as Utah is concerned. Like Mark Twain's death the reports are greatly exaggerated and probably of less consequence than the upward movement of copper prices. Given the capacity now in place, the strength of the markets we serve, and our contractual commitments we expect Utah's earnings to set a new high in 1973 and to continue to grow certainly through 1975. This does not mean however that we are free of problems, for we never are. Certainly the weakness of the U. S. dollar is one problem and one we have already discussed. It will have some adverse effect on our earning power because of the Goldsworthy exposure. It also has an impact on construction in progress at Saraji to the extent that costs are incurred in Australian dollars. These costs are capitalized and written off over the life of the project. We estimated that our share of capital additions in Australia would amount to U. S. $143 million at an exchange rate of $1. 195. These capital costs will now increase by some $22 million, no small figure but over the life of the project it