OCR

1958 Of particular significance were the more important developments in Utah's domestic mining operations. The year saw the completed construction of the uranium oxide processing mill for Lucky Mc Uranium Corporation in which Utah had a 60% interest. Exploration activities in the Shirley Basin in Wyoming had progressed favorably and the findings of our geologists indicated that Utah controlled a high grade uranium ore zone in that area, a potential for future development. The outlook for the parent company's mining operations in the State of Utah was further enhanced by the consummation of a long-term iron ore sales contract with the Columbia-Geneva Division of the U. S. Steel Corporation. Also of importance, in a related field, was the launching of a new combination ore-oil cargo ship, the San Juan Merchant, under the flag of San Juan Carriers, Ltd., an affiliated company. On the less favorable side, in certain phases of activity the operating results had been unsatisfactory, some slowness had been noted in Land Development sales and dredging programs, the company had sustained losses attendant to an abnormal backlog of idle construction equipment, and unfavorable results had continued in certain of the St. Lawrence Seaway joint venture projects. In Mexico and Australia also, the results of operations had been disappointing. Engineering Continuing growth in the magnitude of construction projects during the last three decades and the company's program of diversification in its ownership activities, made expansion of engineering activities desirable, with the objective of providing a completely integrated service and also a means of securing profits the company might not otherwise enjoy. Utah thus endeavored to build up its engineering organization to the point where it included oustanding talent in four fields of engineering: investigation, design, management and construction. Following are some projects in process or completed by Utah in 1958.