near riverton wyoming utah construction company has recently completed stripping vasl quantities of overburden preparatory to its commencement of mining operations and delivery of uranium ore to the new orfi processing mill of lucky me uranium corporation which will go on stream early in 1958 utah has a 60 percent ownership interest in lucky me peruvian iron ore utah construction company owns a 41 25 interest in the equity stock and a 50 interest in the voting stock of certain companies concerned vith the mining sale and shipment of iron ore from the marcona deposit in peru these companies all showed increased earnings because of higher volume and improved operating cia san juan s a da san juan s a is a panamanian company engaged in the sale of iron ore and the ocean transportation of iron ore and other bulk commodities iron ore shipments were made principally to the united states germany and japan in vessels either chartered on the market or from this compo ny s yhol ly o^vned subsidiary son juan carriers ltd the latter company owns one 16,000 dwt vessel and two 32,000 dwt specialized ore carriers in addition it has placed orders for two new 47,000 dwt ore carriers with delivery expected in late 1958 and early 1959 cia san juan's consolidated earnings were 3,770,000 for the 12 months ending october 31 1957 an increase of 1,620,000 over the preceding year ore shipments were 3,550,000 tons an in crease of 42 profits from the freighting of other commodities increased sharply during the year marcona mining company marcona mining company is a domestic corporation engaged in mining iron ore in peru it reported a profit of 7,356,000 for the 12 months ending october 31 1957 compared to 3,023,000 during the preceding year the gain in profits was primarily attributable to greater volume better profit margins and lower depreciation charges during the year marcona retfred its remain ing 2,000,000 in second preferred stock and paid 23.50 per share in dividends on its class b common stock py p nstruction and preliminary stripping of ov cident to commencement of mining operations these views of the installations of our affiliate marcona mining company show stripping and iron ore mining operations being carried on approximately 1 7 miles from the port of san juan peru as well as screening crushing and stockpiling operations which are conducted adjacent to the mine shown here are the two 3 1,600 ton sister ships specialized ore carriers allen d christensen and harvey s mudd owned and operated by our affiliate san juan carriers ltd the christensen is pictured passing through the panama canal and the mudd is shown discharging marcona iron ore at rotterdam holland