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Show Work Proceeding on Rio Algom . Ufoupjih Venfilofloii 51m! 1 r 1 :tf iv-r . k' . r; j I j F r- ' I ' V - ? .v--r -". . K f v . o " ' rninp now under development near inning of a new mine. Cement is pour- uranium mine now 2 " the concrete lining of the ventilation Moab. 5na't "collar" at Rio Algom Corporation's Development of Rio Algom Corporation's Uranium mine 35 miles south-east of Moab, Utah began last February-after February-after some three years of testing and study. Rio Algom Al-gom Corporation is a U. S. subsidiary of Rio Algom Mines Limited, Canadian uranium producer and developer de-veloper of natural resources. The new mine will be ;a production in early 1972. Its production rate will be 3.2 million pounds uranium in concentrate per year. . Total cost of developing the mine and constructing a mill with a planned milling rate of 500 tons of ore per day will be about $23 million. The mine and mill will employ a workforce work-force of 110. Development began on February 12 with the start of drilling of the first of three wells required to provide water to the mine site. Work is now underway on a ventilation shaft, to be 18 feet in diameter, concrete lined, and 2,662 feet deep. It is scheduled for completion comple-tion in October 1970. Sinking of the production shaft is planned to begin this fall and should be completed early in 1971. Part of the Utah mine's output will be used to fill a sale agreement with Duke Power Company of Charlotte N. C. The agreement calls for the delivery of 3 million pounds of uranium in concentrate con-centrate over a six-year period starting in 3972. Discussions Dis-cussions are underway with potential customers for the sale of additional uranium from the property. |