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Show THE GREEN SHEET 9 CCmMUNi i Y Thursday, April 28, 1988 NtWS Mine Gains Favor With Planners Hercules Reaches Financial Milestone by Ray Friess Green Sheet Staff Writer SALT LAKE. Kennecott Explorations on Tuesday received a favorable recommendation from the County Planning Commission on a request to rezone more than 2,000 acres of land to, hopefully, make way for an open-p- it gold mine that would create a large number of new jobs and generate more than $1 million each in property taxes and payroll. However, in approving the zone change, the commission warned Kennecott not to clear or move anything on the property until conditional use approval is granted, approval which will be contingent on the company answering a number of serious concerns on the part of the county Kennecott officers will have to answer these, and other concerns prior to receiving conditional use flnnmvtii -- rrw, tA ,v rvsonn 'o f no" minincro operations, planning commissioners stated Tuesday, and until those are answered, the company was told not to begin moving any earth in the area. In another action affecting a major employer in the valley, the commission postponed for another two weeks a decision on a request from Hercules to build a new rocket motor plant. The commission is still awaiting results of a study which will determine if the new plant would expand the overpressure zone, the aca around Hercules that would be damaged in the event of an i cmiucnuu CApiUbiun. In other action, the commission continued for two weeks: A decision on a request from the owner of Francescos to erect a sign in front of the restaurant at 535 W. 3900 South; to allow a day care facility at 6099 So. Redwood Rd.; a decision to rezone 6.5 acres at 13320 So. 7565 West from agricultural A-- 5 to A-- re earnings, first-quart- have achieved an important financial goal, restoring the earnings per share contribution that was lost with the sale of HIMONT Incorporated in September 1987. "Even with the loss of equity income of 36 cents per share from said "we per-sha- re COUPON In Home Estimates CALL fDAV 973-70- 1! can rely on Anderson Lumber for and Professional Sales and Installation Prompt You and state officials, are concerned about of contamination potential groundwater in the area if an accident should occur in the proposed adjacent leaching operation which would operate in conjunction with the mining. County however, j HIMONT Incorporated, 1988 first 1988 were $661.6 million versus the reported $667.2 million in the quarter earnings on a per-shabasis are nearly the same as last comparable period a year ago. the 1987 results However, years results. He went on to say that the net included water-solubl- e polymer income for 1988 was $39.8 sales of $20 million, which are million, equal to 82 cents per now part of the Aqualon group, a share. This compares with the joint venture company. 1987 first quarter net income of $132.1 million, or $2.32 per share further on the Commenting of which $84.4 million, or $1.47 quarters results, Hollingsworth per share, was attributable to noted that a number of businesses had made key contributions nonrecurring items. Thus, operating earnings on a during the first three months. basis for the first Organics sales increased 10 quarter of 1988 and 1987 were 82 percent over the same period a cents and 85 cents, respectively. year ago, and operating profit Sales for the first quarter of improved significantly. 0 0 0 The The Executive Director of the Utah Water Pollution Control Committee, Don Ostler, in a letter sent out by him, points out the proposed operation area is a groundwater aquifer recharge area used by Copperton, West Jordan and a number of private An accident in the owners. leaching operation, Ostler said, could send leaching solvents, into the including cyanide, groundwater table which is 120 feet below the proposed mining and leaching area. ' companys i and the state. zone change approved the by Tuesday planning commission, if approved also by the county commission, will rezorie 2,320 acres in the area of So. 8200 9600, West from agricultural to manufacturing. Kennecott officials have stated the open-pi- t gold mine, which must still go through the conditional use approval process, could create up to 200 new jobs and generate $1 million to $2 million annually in property taxes for the county and almost as much in for the payroll employees. MAGNA. The first quarter of 1988 represents achievement of a financial milestone for key Hercules which Incorporated, operates the Bacchus Works near Mntma. o David S. Hollingsworth, chairman and chief executive in announcing the officer, Windows Decks Siding Fencing Roofing Roof Conversions etc. w A aj Jfj coupon is worth 100.00 off any Home Improvement over 1,500 This One coupon per customer at time of purchase Open Mon. thru Fri., wnSmSa to 8 a.m. to 5 p.m.; Sat., 8 a.m. to 1 p.m. 1624 West 3860 South Andtrton for answers ggg 973-701- 1 hundreds of REALTORS will be holding open houses at homes for sale all across the Salt Lake Valley and South Davis County. Its all part of the Salt Lake Board On April 30, of REALTORS Valley-wid- e Open House, and the national celebration of American Home Week. With low interest rates, and a large number of homes on the market, now is an ideal time to buy. Watch the classifieds for the prices, addresses, times and other important details on homes youll want to see. REALTOR |