marcona corporation's other principal subsidiary cia san juan s.a furnishes marketing and ocean shipping capabilities for marcona mining company and also for the mount goldsworthyiron ore mine a subsidiary of cia san juan s.a san juan carriers ltd owns a fleet of seven vessels especially designed for the iron ore trade most of the ships in the fleet are large combination ore-oil carriers the newest vessel the 106,000 dwt san juan exporter was put into service in november 1967 it is the largest specialized ore carrier in the world and brings the capacity of the owned fleet to 498,000 dwt additionally san juan carriers directed a fleet of 12 ships under long-term charter or contracts of affreightment during 1967 contracts were concluded for the construction of three 130,000 dwt ore-oil carriers in japanese yards two of these vessels are scheduled for delivery in 1969 and the third in 1970 the addition of these three ships will bring san juan's total owned fleet capacity to about 890,000 dwt cia san juan s.a recorded improved earnings in 1968 largely attribu table to increased sales san juan carriers ltd reported decreased earn ings as profit margins declined from the abnormally high levels attained in the months which followed the closing of the suez canal in 1967 in november 1967 an agreement was reached with a group of investors under which marcona corporation obtained an option to acquire a con trolling interest in compania minera santa adriana which carries on a salt mining operation in northern chile the new company controls major deposits of fine quality rock salt located just fifteen miles from the deep water port of patillos chile this location combined with marcona's low cost ocean transportation capabilities permits santa adriana to deliver salt to world markets at highly competitive prices pima pima mining company which produces copper and molybdenum concen trates in southern arizona recorded earnings below those of last year utah's 25 per cent share of pima's earnings after provision for distri bution taxes amounted to 2,476,000 a 16 decrease from last year's record performance of 2,949,000 although pima was not directly in volved in the copper industry strike of last year and early months of 1968 it had to stockpile concentrates for about 9 months pending return of the smelters and refineries to work in 1968 a major expansion program was completed at pima the milling capacity at the mine is now in the range of 36,000 tons of ore per day and at the manapouri power project two workers weld a section of one of seven giant penstocks which will carry lake manapouri water to seven hydroelectric turbines located in the machine hall 600 below the lake surface