OCR

and only minor impurities, from ores containing only a few tenths of 1% uranium ozide and major impurities. After the ore is crushed and ground, sulphuric acid and other chemicals are used to dissolve most of the contained uranium. Next follows a series of decontation steps during which almost all of the remaining uranium in the ore is dissolved and the resulting barren solids are discarded. The uranium-bearing liquor is then filtered and passed through the ion exchange system. Here the uranium is concentrated into an enriched solution by the action of small beads of resin. Remaining impurities in the enriched solution are then precipitated out and finally the uranium is precipitated as yellow coke, ready for filtering, drying, packaging and shipment. Shipping Cia. San Juan S. A. in which Utah has a 41.25% ownership interest, was engaged in the sale and ocean transportation of Peruvian iron ore under an exclusive contract with the Marcona Mining Company, as well as transportation of other bulk commodities. Shipments were made in vessels chartered in the world market and from a wholly owned subsidiary of Cia San Juan S. A., San Juan Carriers, Ltd. San Juan Carriers, Ltd. owned one 16,000 ton and two 32,000 ton ore carriers. A new 47,000 ton combination ore and oil carrier was launched in September and a sister ship was to be delivered in May of 1959. More efficient use of owned and chartered vessels had resulted from the development of backhaul of bulk cargoes which complemented the movement of iron ore from Peru. Personnel In order to strengthen the management structure to meet require- ments of the Company's expanded and diversified activities, early in the year J. A. Mecia, C, W. Robinson and A. L. Reeves were elected Vice Presidents and O. L. Dykstra was named to the position of Treasurer. In August, Mr. E. W. Little field, the Executive Vice President, was appointed to the additional post of General Manager.