OCR

This decision was of course subject to the successful conclusion of a suitable sales contract with the Japanese steel mills, and represen- tatives of Mount Goldsworthy Mining Associates were then in Japan negotiating for such a contract. Investigations at Mount Goldsworthy to December of 1963 cost $2, 000, 000 and at that time it was estimated that total capital expenditure to bring the mine to production at an initial rate of up to 2 million tons per annum would be approximately $42, 000, 000. Following a decision by the Commonwealth Government to liberalize the conditions for the export of iron ore from Australia (announced by the Minister for National Development, Senator Sir William Spooner, on June 10, 1963) the Mount Goldsworthy Mining Associates have obtained a license to export up to 4 million tons of iron ore per annum. Dredge ''William E. Palmer" - renamed Dredge "San Mateo" During 1963 Utah Construction and Mining Co. also purchased the above 18-inch hydraulic dredge, built in 1947 by Olympian Dredging Co. Following is the General Specifications for this machine: DREDGE "WM. E. PALMER" - NOW "SAN MATEO" _GENERAL SPECIFICATIONS_ General: --18" hydraulic dredge, built in 1947 by Olympian Dredging Co. Hull: --Length 120'-10" , Beam 32'-2", Depth 7'-6" --All steel construction, made up of 20 water tight compartments --Suitable for towing at sea Ladder: --74' long, heavy structural steel --Equipped with 8'-7" special extension digging depths - 8 to 60 ft. below water Spuds --25" dia. by 75' long --Working spud is of tabular steel construction --Fleeting spud has a wooden core with steel sheeting Main Pump: --20" suction and 18" discharge --Casing is a chrome moly casting --Doors are equipped with renewable liners --Runners are alloy steel Main Pump Motor: --Westinghouse slip ring induction motor delivering 1600 H.P. @ 450 RPM