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Show Dm 1).:111(1 1 the Street ti Uranium Firms Yet 'May Feel The Fallout From Chernobyl Robert H Woody TnEwne Business Editor Utah has et to be touched by tht id,ition fallout of Chernobyl But operators of Utah mines and ulls agree the emotional fallout By "We still feel confident that nuclear posker tias to incredse in this coun. try as in ether countries. Nit-- Lay. ton said Rio Algom empl atiuut 150 rim- ers, millers, maintenance personnel and clerical people The Blanding null. commissioned trimintrwoloweri,1 44117 le .)('' ' ) Robert II. .'f---- -- um sharply. Energy Fuels Co ordered start up last October hen it determined it had enough ores from its Arizona mines inventoried at Blanding to make make milling economically feasible. "But it's hard to imagine that Chernobyl as an upside event for our industry." said Ronald Nuzman. manager of employee and public relations for the Denver-baseEnergy Fuels. Energy Fuels employs about 150 miners. engineers and geologists in the Kanab and Fredonia area, with hopes of corning up with at least one good mine a year to support the Blanding mill. he said However, the mill, which is operated by UMETCO, can operate only 10 more months with present inventory. Woody , -- I T, I',V ' ciwn in 19d3 afier energy demand projections fell 1980. V3s shut e high-grad- Business Editor the Russian reactor failure is likely to bell) their precarious osinesses. 'The' two principal operations in tdh are: Elio Algom Mining 's Lis-'e- n Corp rdine and mill 40 miles south of goat)! (.:1ETCO Minerals and Energy Fuelsro.'s jointly owned mill at :flanging. which processes-- ores mined by Energy Fuels in the Arizo1,1 str)p" near Fredonia, Ariz Nedher operation could be consid,-ren(bust compared to 30 years ago Aben!the area was swarming with prospectors and miners, and mills at Silt Lake City, Moab. Monticello and MexiOn Hat were churning out thou,ands-of pounds of uranium oxide to meet 'urgent military requirements. Latir. in the 1960s there had been that military procure,..xpect..ation menthaving been met. would be replaced with utilities procurement But the expectation was never fully ftaltie.d by the domestic industry. Reasons: Increasing public apprehension. escalating reactor costs. and strong competition from Australian 3nd Canadian ores. Cherbonyl hasn't helped.' said ,1 I) Lawton. Rio Algorn president. Though the Russian reactors are not identigal to ours, any nuclear accident anywhere raises questions." Rio Algom. which began operations IS years ago with high expectations for the energy industry, currently hasno customers. he said The firm is not only inventorying uranium oxide from its 800-todaily mill using both Lisbon mine ores and purchased 70-3- Mr W heat sa;td tne airport s operating rev enLe of $'22 47 ) 39,8 is 4 4 per cent more than budgeted Mr Miller interjected !Lai auto parking revenue iimunted to 00 .!F;4 more than the $2 Iiiti.375 expected to be generated for the period "We could see i4r,,W, 1.ke said Mr coming for totir ',ears Miller You nted to keep in mind that parking rates at this airport have not changed sinCt: June 1980. So this Is a true volume increase, unlike the revenue charged by airport concessionaires vho may have raised their prices since 1980 Its lauto revenue is a real vod barometer lof airport growth The airport authorit board also unanimously adopted a resolution supporting Salt Lake City's position that the state has primary responsibility to control flooding of the Great of $1.897.500. Salt Lake and Utah Lake On Sept. 18. 1985. the airport au- The city requested the airport authority approved an agreement under which the airport would construct the thority board adopt the resolution at a previous meeting to aid in lobbying Federal Express building as part of efforts during the Utah Legislature's its program. sPecial session convening May 13 That program also calls for the airAirto for work do site Douglas port t fusecraft Co.'s lage panel manufacturing plant to be built on airport land. However. Douglas Aircraft Co.. the aircraft manufacturing subsidiary of St. Louis-baseMcDonneli Douglas Corp.. will build the plant and then Gregory 11. Boyce. has been named director of environment. safety and lease it back from the airport. health for Kennecott. the firm Mr. Miller said the airport's arch ... ,. tects have estimated it will cost ,,,He succeeds $180,000 to construct the second level Robert A. Malone, of the Federal Express building and recently named di- $10,000 more to prepare the necesrector. health. sary construction plans. lie said Fed- safety and envi- eral Express will reimburse the air- f of na nl port for the design fee. even if afterv the bidding process the company de-- , cided against constructing the second Ceti Iiisiie' Thursday Morning May 8, 1986 Section The stock NEW YORK (API B 13 Page at New d d Exchange i May 7, 1986 up capital-improveme- VOLUME 515 160.000-square-fee- 129,890,000 SHARES CHA':JED 410 ISSUES TRADED 1.775.30. Analysts said traders were preoccupied with the Treasury's sale of $27 billion in bonds and notes, which got off to what 4 as described as a lukewarm start on Tuesday and continues through Thursday. In Wednesdays auction. the notes at an Treasury sold average yield of 7.47 percent. There was some unhappiness on Wall Street over provisions of the tax bill passed by the Senate Finance Committee that would eliminate tax breaks for longterm capital gains and curtail the tax advantages of Individual Retirement Accounts. But brokers also noted that. by lowering the maximum general tax rate to 27 percent. the mea y York Stock 2,003 DOWN 1,018 N Y S E. S & P. 136.11 - 0.66 Index 236.08 - 1.16 Comp Dow Jones Ind 1,775.30 - 12.65 sure would reduce the tax burden on short-tergains. which now are subject to the ordinary-incomlevy of as much as 50 percent. They also observed that the bill is several steps away from becoming law. It still must be considered by the full Senate. and then be reconciled with a House version that differs from it in many respects. sues in the Ray, Chino and Bingham copper divisions in Arizona, New Mexico and Utah, respectively. The company has said its survival depends on reducing the average wage to $9.66 an hour from $13.76 and cutting the whole pay and benefit package to $16 from $24, along with a $400 million modernization of its Utah operation thats tentatively to be completed by 1988. Ball has said the company was ask m e lernat. Ediar Ball. of the s coordinated barunionS' gaining committee. and Ken Hoch- stetlei, a Kennecott spokesman. said subcoplmittees were working here is Wednesday on local and work-rule ing the unions to give up too much. and has asked Kennecott for "verifiable data that will justify" its proposal. But Kennecott "may need some financial help until then," he said. Kennecott has shut down its Utah Copper Division and curtailed emin ployment Arizona and New Mexi- co. Its total work force now numbers about 2.000 compared to 12,000 five years ago. IDaa:S5 iPOID1 Day Special! eta' s th ir ii-- 4itt the annual rental rate Federal Express will pay the airport authority under terms of a lease, said Mr. Miller. Federal Express new facilities are being built south of terminal one near Interstate results for the nine months ending March 31. John Wheat. director of finance. noted operating revenue increased 18.7 percent over the same time last ,year to $22.475.388, operating expenses increased 15 percent to $9,264.779 and net income increased 50.5 percent to $4.904.564. He said the modernization work should permit Kennecott to produce copper for 51 cents a pound. 111 ' -- - i . or enroll now for . . , 5 i ' t t t a .. . .. I STEAM ROOM ; SUGAR HOUSE a 10331 210050 t ' WEST VALLEY HIGHLAND FASHION PLACE 268-060- 6 DR OGDEN r;i IT ' I 3581 SO MARKET -- 3354 HARRISON BLVD - ' 0 Dollar Falls Again NEW YORK (AP) The dollar fell Wednesday to another War II low against the Japanese yen in New York and declined against post-Worl- d other major foreign currencies. There was no single. clear-cu- t for the decline, traders said. reason r-:- I 1 VI - 4 i'l,11 A , 110, . I, ..i f 1. .un - , , . ,, , rd. 4Act, '',., . , , - t , . ,. -- FINAL DAYS ts 2: 'tu,:;, , ,i,1446' Ai 1 k::: 4;? v 0'1 ,:- '3, -. .."- - , , ,"? , I -" --, . tdy . ,, 34, ,, ' ;....ti-- AS ' ..? ir . : - N.,,, Atiult r.euns OtlOy 1 , spirit to make it come alive. Mountain Bell is proud to find ., Friendships.And a man yearning to a place in his newly discovered America bring this touching play to ; . "The Immigrant: A Hamilton County your town. Wt' believe this is Album" is the story of I laskell Harelik, a theatre You will truly enjoy. For it is the Russian Jew who, on a quest for freedom American dream from poverty and persecution in his 1C3i Mountain Bell in Texas small town a settles broughthomeland, US WEST ,:,:.7','''..' to life. with little more than a dreamand the "The Immigrant: A Ilamilton County Album" is a Denver Center Theatre Company the Tirad Center or stop by Data 'fix. production. Please call , r 155 E 6100 SO OREM I ' . EQUIPMENT 4700 . Its about dreams. hardships. SAUNA NUTRITIONAL GUIDANCE MODERN CONDITIONING 278-284- 6 484-878- 6 t Tucson. He joined Kennecott in 1977 at its Ray Mines Division in Hayden, Ariz. ,,. SOOTHING HOLLADAY Mr. Boyce , York, he holds a bachelor's degree in mining engineering from the University of Arizona. 4 LiT4--,1,- i . , . 1 r' - - UTAH'S FINEST HEALTH SEAS FOR MEN & WOMEN SWIMMING POOL AEROBICS CLASSES RELAXING WHIRLPOOL . Nsi fn 0 ' b . .. , . ay . . , 2' 0 NTat hor:ss. cfl ' Memberships for the price of one! ti oeai eednative rt wit I , ohe al Mountain Bell presents a play about an American dream. And the Russian immigrant who brings it to life. FOR 1 it A oot 80. In reporting the airport's financial f i . Kennecott Taps New Official level. If the second floor is constructed, its cost and the design fee will be included in figures used to determine Kennecott, Unions Huddle on Local Issues in Search for Accord PHOENIX. Ariz. (AP) Negotiators for Kennecott and its 17 copper unions continued talks Wednesday toward:clearing up local issues and clearing the way for an economic set- nine-mont- 45.000-square-lo- The Market In Brief market gave ground Wednesday as investors cautiously watched for signals on the outlook for interest rates. A sell-of- f in International Business Machines shares contributed to the wary mood on Wall Street. But the market nevertheless managed to close well above its midday lows. The Dow Jones average of 30 industrials, down almost 30 points at one stage. finished with a loss of 12.65 . - Wary Wall Street Slips As Sell-O- ff Slaps IBM "Chernobyl won't do any good politically." says Donald Spar ling, manager of the Blanding mill, which, with 130 workers. is the largest mph)) er in the area. We have a lot of faith in nuclear power. and still think its good." The mill also processes vanadium pentoxide ores. Vanadium is an alloying agent for steel. Hence, UMETCO, has strong interest in the future of Geneva Works of U.S. Steel Corp.. he says. The Orem-baseGeneva faces shutdown in 1989 after U.S. Steel completes arrangements for replacsteel with that ing Geneva-producefrom a modern Korean plant for finishing at at U.S. Steel's Pittsburg. Calif. plant. UMETCO is a mining affiliate of Union Carbide Corp. Mr. Spar ling, in the uranium business for 30 years, comments: "I have visited reactors. and the safety record is fabulous in the United States." Energy Fuels Co. sells its own as well as brokered uranium to a variety of ores , By Joe Rolando Tribune Staff Writer Tile Salt Lake City Airport AuthorWcdnesday approved the design and construction of about 5.000 sq,iiirt, feet of office space or the NCC- ond le el of Federal Express's rieV sorting facilities on airport land In requesting that action. airport director Lou Millur said Fccieral Express wants construction to begin on the second story sooner than it origi- rally intended. for two reasons First. the low bid for construction of the ground floor was lower than the estimate. Second. Federal Express needs the second floor sooner because of some opera- tional changes" for that office space. Mr. Ntiller said the low bid submit- ted March 28 to construct the first level amounted to $1,497.836, corn- pared with airport officials estimate - Florida Power Co It also supplies or has supplied custoniers in Switzerland. Germany, Finland. Italy. England. Austria. Spain. Portugal and Korea. he said he said. n For Construction at Federal Express Office Zribmic domestic and foreign customers, says Mr Nuzman Those include Ar.zona I'Lblic Service. Philadelphia Electric. Public Service Company of New 11,m1pAire. MJin Yankee Atomic Po er Co Verrmint Yankee Nuclear Power Co Public Electric and Gas of New Jersey. Consolidated Edison Co and Ks Plans S.L. Airport 1)c 703 SOUTH STATE MUMS Serving Utahns for over 28 years with the finest in Health Spa Facilities!! - A 575-500- , Album" by Mark flare ilk (2 performances) &Nlon., May 12 (1 performance), t "The Immigrant: i Sat., iklay ., 10 A Hamilton County , |
