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Show I Plow Cmidphtfa nsM tm MM fEm Fs&f , nBiV4n 32i 99 40 m s WiV 4:-i- r, I ! O ...... W f ';r L- it Members of the Moab Red Deil basketball team, representing Region Ten in the State 2-A Tournament this week in Provo, re head coach Del Ford, assistants Wayne Larsen and Kenny Yama and Manager John Law ley; Van Mays, Kim Loveridge, Kim Johnson, Kevin Daniels, Kenny Bonn, Kenny Roberts, Jeff Cathey, Mike Bunce, Mike Adkison, Jack Birchfield, Marlyn Wyatt, Donny Knowles, Paul Proctor, and Ross Tabberer. Atlas Minerals President Roy F. Mollis told The Times this w:ok that he is "quite pleased with progress on the installation of a vanadium processing ; circuit and work on the old plant." Of the work currently being done at the Atlas plant north of Moab he , said, "We are a little behind schedule, but we still think it will be some time ; late in 1975 or early 1976 that the plant will be finished, which will include the vanadium circuit on stream somewhere around the first of the year, and the revisions on the old plant finished shortly thereafter." Me noted that during the time work is being done by a contractor at the plant, there will be close to 80 people working on the contract. Directly and indirectly in-directly at the mine and mill, he said, "We have employed currently about 200 people in this area." Although at the time of the issuance of the 1973 annual report of Atlas Corporation, parent company com-pany of Atlas Minerals, it was planned to close down the mill for a second time following the October Octo-ber 1973-September 1974 closing, it was decided to remain open and run continuously con-tinuously the alkaline recovery re-covery circuit of the mill at least until the newly installed uranium-vanadium recovery circuit is in operation. The delay in schedule for installation was caused, cau-sed, in addition to increased in-creased costs, to delays in delivery of equipment ordered. The main business of Atlas Minerals, according accord-ing to the 1974 annual report, re-port, continues to be the processing of company-owned company-owned and controlled uranium ur-anium ores and uranium ores owned by others, in the Moab mill. During 1974 Atlas proceeded pro-ceeded with its plans to install the new circuit so that the substantial quantities quan-tities of uranium-vanadium ore discovered and acquired in 1973 might be processed there. The company also proceeded with work required to develop de-velop and mine some of these new ores. According to Mr. Hol-lis, Hol-lis, this end of the business busi-ness is currently "in good shape, with mine development develop-ment coming along fine, and 7 mines now under development. Atlas Minerals now has contracts to sell U308 into 1980, and a new contract con-tract for the delivery of 300,000 pounds of U308 is June of this year is in negotiation. The demand de-mand for uranium continues con-tinues to be strong and the market price structure, struc-ture, both long and short term, has increased dramatically dra-matically in the past several sev-eral months. The price for vanadium has also been strong over the last 3 years, and domestic do-mestic requirements for vanadium, which is used mainly as an allow with steel to increase hardness, hard-ness, is projected to increase in-crease at least moderately moder-ately annually for the indefinite in-definite future. As was projected in the 1973 annual report, Atlas Minerals operated at a loss in fiscal 1974, mainly because the mill was closed down for a substantial period of time. In the 1973 report it was also projected that the Minerals Division would incur an operating loss this year, however, it now appears that the division di-vision will operate at a profit during fiscal 1975. |