1956

              1956
During 1956, by sale or liquidation, Utah disposed of its interest
in certain subsidiary and affiliated companies primarily concerned
with construction or with the operations of housing developments.
Utah Construction Limited, which participated in the construction of
the Big Eildon Dam in Australia, was liquidated.   Consolidated
Builders, Inc., in which Utah held a 10% interest, also voted a final
plan of liquidation which was completed in 1957.   The Company sold
its interests in companies concerned with the ownership and operation
of housing developments at Bisbee, Arizona; Wichita, Kansas; and Salina,
Kansas.
During the closing months of the fiscal year, Kennecott Copper
Corporation awarded two contracts to Utah Construction Company in
connection with its open pit copper mining operations at Bingham
Canyon, Utah.   Under one contract Utah was engaged to strip
8-1/2 million yards of overburden on the upper east and west side
levels of the huge Bingham Mine.   Additionally under this contract
Utah was to construct the necessary haulage and access roads for
the company mining operations which were to be undertaken when
stripping was completed.   Under the second contract Utah would drive a
17, 000 foot railroad tunnel through the mountain bordering Bingham
Canyon at the 5,490 foot level.   This tunnel would enter the mine
pit at a new low level area to more efficiently service and handle
the future shipments of ore mined from the deeper areas of the pit.
Lucky Mc Uranium Corporation
During 1956 Utah, under the terms of an option agreement to
acquire 60% of the ownership of this company, conducted intensive
geological investigations of the mining properties and leases controlled
by Lucky Mc.   These studies confirmed the existence of sizable
bodies of uranium ore of good grade and quality.   As a result Utah
negotiated for Lucky Mc a long term milling and sales contract for
uranium concentrate with the Atomic Energy Commission.