Word: climaxes
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Dates: during 1950-1959
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With a string of uranium mines and one mill already operating at capacity in Colorado's plateau country, Climax announced that it was moving its uranium subsidiary headquarters from New York to Grand Junction, Colo., to be closer to actual operations, making it easier to expand into uranium. Though the company netted only $428,248 (4.4% of total profits) from uranium in fiscal 1953, it is prospecting for more lodes, will build new ore-processing plants wherever needed...
...Said Climax President Arthur H. Bunker: "Our plan is to be very active in uranium. The acquisition of property is continual...
...Risky Business. But Bunker, who knows that uranium is often a risky business, is not betting all his money on it. His company has set up a separate department of industrial development to invest in a whole new series of strategic metals. Climax owns thorium deposits in Colo rado, wants to expand into large-scale production of such other vital metals as nickel, cobalt and manganese, all needed for U.S. strategic stockpiles...
...Climax also passed on some good news about its overall business to stockholders last week. The company's biggest business is mining molybdenum, the heat-resistant metal (melting point : 4,750° F.) for hardening steel. In 1953, Climax' sales climbed to $38,907,151, 30% better than 1952, and earnings rose from $6,071,519 in 1952 to almost $9,717,000 last year...
...Climax' miners, who must tunnel through Colorado's Bartlett Mountain for the ore, call it "molly bedamned," and until World War I no one had much use for the metal. The Germans, then short of tungsten, first used it to harden the barrels of their Big Berthas. It was used on a large scale again in World War II. In peacetime, however, most steelmakers preferred tungsten; molybdenum production usually dropped off to a trickle...