1962

              1962
Iron Ore
Long term contracts, and adequate reserves to service these
contracts, characterized Utah's position in the domestic iron ore markets.
The direct shipping of ores from the Company-owned Iron Springs mine in
Utah was now supplemented by its beneficiated ore produced in the new
plant completed in 1961.
The multi-phase $50, 000, 000 expansion program for Marcona
Mining Company was on schedule, with the first three phases completed
and in operation.   The last two phases were nearing completion and when
operational, the total annual capacity would be in excess of 6 million tons
of high grade iron ore and pellets .   The major elements of this whole
program were:   added crushing and stock pile facilities, a two-mile down-
hill belt conveyor, beneficiation facilities , a pelletizing plant, and a new
deep water pier installation including shiploader and complete pierhead
facilities.
Ocean Shipping and Ore Sales
Marcona's ore is marketed throughout the world by Cia. San Juan
S. A. , in which Utah has the same equity and voting interest as in Marcona.
Cia. San Juan's wholly owned subsidiary, San Juan Carriers, Ltd. , owns
six ships with a combined carrying capacity of 250, 000 deadweight tons,
with a new- vessel, the SS "San Juan Pioneer" of 70,000 deadweight tone ,
joining the fleet in October 1962 to replace the SS "San Juan Trader" which
was then sold.   Two other ships were then under construction and, with,
the addition of these ships, the capacity would be 390, 000 deadweight tons.
In addition to San Juan's fleet, 55 other ships were chartered.   Together
these ships moved 34 billion ton miles of iron ore and other bulk cargoes
during the last year.
Coal
The development of the Navajo mine continued with the erection of
a giant 40 cubic yard dragline and the beginning of pre-mine stripping
operations.   The 350,000 kw. Four Corners power generating plant was
being built by Arizona Public Service Company and Utah would begin
supplying fuel to APS in January,  1963.   This would culminate efforts
begun by Utah over nine years before with its development of this coal
field.   The initial 350, 000 kw. plant can supply enough electricity for a
city with a population of 500,000.   Leased from the Navajo Indian tribe,
this 25, 000-acre coal deposit contains one of the largest low-cost
thermal energy reserves in the Western United States.   It is estimated
that this 600 -million ton reserve can supply enough -fuel to generate
2. 500, 000 kw. for more than sixty years .