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Show ' iii "Oct Vol. 28 HetoS - i!; 1 N etf tHcH Significance in The Oil a' No. 24 mg Wet-Id- " 10 Salt Lake City, Utah, Friday, August 9, 19 COMES OF AGE' x Gilsonite Plant Enters New Ere The first GILSONITE, Colo. commercial plant to make gasoline from a raw material other than crude oil was formally opened here Thursday by the Sec- - visitors, Ernest FvCkxxlner, president of American 'Gilsonite Com. pany, pointed out the historic significance of 'the occasion and the revolutionary aspects for the retary of the Interior, Frederick oil industry of the new operation. He said: This refinery proves the A. Seaton. economic feasibility of deriving A gathering of distinguished products from other Governors petroleum conventional sources. We guests,L. including than R. Nichols of Colo- believe this Is Stephen opening up unrado and George D. Clyde of limited possibilities for the vast Utah, at the new refinery near quantities of pertoleum-lik- e maGrand Junction, heard Secretary terials, now lying unused, in Seaton point out that this is the tot privately financed commer-- J0in, Research e dal operation to produce solid hydrogasoline from a carbon, Gilsonite ore, which is mined in Utah and transported over the worlds first pipeline to cross a mountain range. The board of directors of FedUranium Corporation Thurseral The other major product of the new $16,000,000 undertaking of day voted to exercise ah option the American Gilsonite Company to join its subsidiary, Radorock of Salt Lake City is highpurity Resources, Inc., as a partner in Radorocks development program metallurgical coke, in demand by Mn Gas Hills uranium area of aluminum producers and other Wyoming. carbon users. specialty The decision was announced by .Roy E. Nelson, vice president Amerand production manager of Ralph W. Neyman, Federal pres-icGilsonite Company, handed ident, following a board of direc-- a switch to the two Governors tors meeting, Mr. Neyman said that Federal and they released a spectacular mixture had obtained the option by loan the fountain of slurry of Gilsonite ore and water which ing Radorock initial development pipe- - funds when Radorock first enterpasses through the at the mine line from Bonanza, d the Gas Trm area earlier this Utah. year. Federal decided to exercise The ceremony climaxed three the option after, a drillingpra-day- s of Celebration, which opened gram conducted by Radorock with a tour of the mine by busi proved very favorable. ness and technical editors and a ' The Federal-Radorojoint visit to the highest point on the venture includes agree operating Baxter ment5 with three other firms pipeline, M00-- f oot-hiin the Book Cliff Mountains. more than 1200 claims in The formal ceremonies were ering this fast developing uranium proheld here today at a luncheon, area. Under terms of ducing followed by a tour of the processagreements with these companies ing plant. will first re In 8 speech of welcome to the cover its development costs and then share in profits with the 1 high-octan- J-Explor- esource Receives U.S. Grant in Northwest ation which this area abounds. The Defense The pipeline delivers 700 L Is Exploration AdministraGilsonite new a ore to the of tion. nnounced an initial grantfof day processing plant. The refinery $45,960 today to turns out daily 275 tons of ex- Corporation of Spokane, Wash., electro- for exploration of uranium locattremely lytic coke, quantities of fuel oil ed on Eastern Washingtons Blue which is burned for power for the Mountain. This is the govemmffct plant, and 54,600 gallons (1300 agencys largest loan ever granted gasoline. in the Northwest for ur: barrels) of high-octan- e This is enough gasoline for William Weaver, president of around 820,000 miles of driving Corp., 'said today for the average automobile. that this is the first uxrf nium deposit located by the chemistry in uranium prospecting. The Blue Mountain area had IINGTON . Gen-Resourc-e an 72-mi- le I ; The success of the method will lead to similar reprospecting of countless other potential uranium areas in the nation, Mr. Weaver stated. nt Geo-Resour- Federal Acts On Option I Cents previously been abandoned be- Receives Utah Oil Leases Tex-A- nt Purchase of a checkerboard spread of oil and gas leases totalrs ing 10,560 net acres in the Area of Utah has been )nade by Texas American Oil Corporation of Midland Texas. Four-Corne- cause it showed no commercial erald H. Bartley, Company Geoe promise after bulldozing and logist, said the acreage acquired a good sized ore body has tillometer surveys, he said. marks Texas Americans first play rs een outlined by drilling and province This new technique, .called by in the oil Nations d where the biggest the tests. radiometric He said ore also geologists The is in boom means ca years underway. provides the been discovered on other Fed- of locating uranium buried below leases cover potential oil and gas holdings in the area, the reach of counters and areas in Garfield, Emery, Unitah, and that a crew for the joint ven-u- re other surface Geiger prospecting tools. San Juan and Grand counties. was now in the area. He said scin-wher- I Four-Corne- alluvial-geochemi-la- I eral-Radro- dk sven drill rigs are working for ederal-Radoroc- Kennecott Preay Predicts Demand For Copper in Second Half of Year k. These are the first joint yen-ure- s for Federal and Radorock. tadorock is a 52.6 per cent owned A good demand for copper in the second half of the year was predicted by Charles R. Cox, president, Kennecott Copper Corp. in a quarterly statement to stock- subsidiary of Federal Uranium Corporation. Potash Production Up U. S. holders Teleased today;V tial decline in the price of copper. The average price received by Kennecott in the first half of this cents a pound, year was 31 whereas' the t average for the same period of last year was 45 cents. On June 19, 1957 the U. S. Producers price, which is necessarily related to the European price, declined to 29 cents. The underlying cause of . the decrease in price is the new copper production resulting from wartime pressures which has been coming on the market during the past year and a half. In his letter to shareholders, in which net income per sare for the Marketable potassium salts pro-- 1 first half of 1957 declined almost cov-Pa- ss ductlon in the United States con- - j 45 per cent in camparison with the tinued its upward trend and corresponding period of last year, reached a new high in 1956 of I Mr. Cox said more than 3.6 million short tons, Net income per share in the according to reports by producers Federal-Radoroto the Bureau of Mines, United first half of 1957 was $4.tfB, as States Department of the Interior. compaired with $8.24 in thp first Sales of potassium salts increased half of 1956. Per share income in Increased costs, while a less claim-holdipercent in 1956 while apparent the second quarter of 195y was companies. in the first and quarter important factor in reducing earnMr. Neyman said that Federal consumption remained about the $1.99 ings than price, were due to the with 1955. Stocks $2.57. directors believe this venture is same compared mining of lower grade ore, the inone of the most important in the In producer.- band, at the end I our the for earning creased amount of stripping reof 1956 were 17 percent more of the company. lessT we sold history were first quarter NEW YORK, N. Y. Vitro He said the most advanced new than in 1955. , wage increases, higher more copper. Total sa in tthe quired, for goods and services purpriceh Engineering Company, a division discovery is on Federal-Rado-roc- ks of potash materials to six months were 283, 1 tons; as chased. Imports of Vitro Corporation of America, Sagebrush No. 1 claim the United States remained about compared with 270,215 in the has been selected to design and 1956. in We expect a good demand in same same the in of Production 73 were 1956; period exports construct a 500,000 kilowatt 1957 was more the second half of this year, show1955. first half the of in West than 6,308. percent (thermal) nuclear power station Quinta-Philli- ps was East in decrease The Germany, earnings ing strength in the fourth Germany, France, near Rome, Italy, according to an substan-the and to to Chile continued be due Spain, thq principally announcement here today by J. countries, supplying principal Carlton Ward Jr., Vitro president. .. The major portion of exports i , The contract, which represents TO to went and a venture Under (49 Japan agreeAccording percent) joint the first foreign nuclear power Quinta Corporation of New countries in the Western Hemistation awarded to a U. S. engi- ment, Mexico and Phillips Petroleum sphere (41 percent). neering firm, is with SIMEA of Tulsa, together have leased six Italians Meridionale sections Publication of the production, (Societa land of in McKinley United States urk- - .the nation as a whole was 7,240,-00- 0 an on the various grades and DENVER detail operating County from Yncca Mining & PeEnergia Atomica) , types of potassium salts has been nium reserves increased 12 pef tons, with an increase in avsubsidiary of AGIP Nucleare, a troleum Co. Inc. discontinued company owned by the Italian beginning with the cent between November 1, 1956 erage uranium oxide content from This was the announcement (to1956 statistics to avoid disclosure government. .25 per cent in November 195& of Melvin E. Richards, presiand June 1, 1957. of individual Details of the project were out- day figures. company to .26 per cent in June 1957. & Petroldent of Yucco 60-6- 2 lined by Dr. Norman A. Spector, eum Co., Inc., aMining percent muriate contin-- 1 The latest official figures reColorado corpor The Vitro vice president for engineer- ation headquartered in Albuquer- ued to be the major potash mate- leased by the Atomic Energy Reserves declined- in Utah, rial Ward Mr. produced. who accompanied ing, que. Commission on United States re- Colorado, Arizona, and Washingto Europe and who conducted The sections are located in New Mexico, California, and serves of uranium are reported ton. The Arizona loss of 1,4000,-00- 0 tons represented 53 per cent the technical negotiations with Township 16 North, Ranges 15 Utah continued to supply the ma exclusively in the current issue Nucleare. of AGIP the states total as of Novemand 16 West. Negotiations for the jor portion of domestic potash 0f p Uranium Information, th ber 1 1956. The power station will be lo joint venture companies were production, Washington declined New Mexico in Den- 37 cent to 940,000 tons, while cated in central-southe- rn Italy. made by Victor Salzar and Rich- supplying 92 percent. The Na- Weekly report published per ver Petroleum Information. Certain major components, in- ard Bokum for Quinta-Phillip- s tional Potash Company had near- Most bysignificant increas was in relatively small decreases were reacand by Richards for Ycca. cluding a presurized water ly completed development of its Wyoming. That states reserves noted in Utah and Colorado. terms to the the tor, will be purchased in the of According mine and construction of its re- rose Uranium Information pointed per cent, making the United States. It is planned that arrangement, Yucca Mining the end of the year. The state by143 by finery Mexico to New out that the June 1 figure probsecond only other components and services Petroleum Co., Inc. retains a gross Farm Chemical Resources Develore uranium Utah in and proved ably are less than the actual total. will be procured in Europe wher- royalty interest and receives opment Corp began mine develop reserves. New Mexico, still far For example, a high AEC official ever advantageous to the project. substantial sum plus Quinta stock ment late in 1956. state in total and away the top recently stated that Wyoming reTotal cost of the project is esti- At the present time three drilling serves probaby are substantially ton The world production of potash reserves, showed a 7,000,000 mated at 29 billion lira ($46,400,-000- ). rigs are operating on these propgreater than the 5,00,000 ton figStart-u- p is scheduled for erties to complete a thorough ex was 5 percent greater in 1956 increase up sopie 14 per cent. ure Overall increase for 1955. in than tonnage given on June 1. 1962. ploration program. ck 1 ck Vitro to Construct Nuclear Station ng I to Lease 6 Sections Uranium Reserves Up 12c - . bi-wi- - early |