Word: kermac
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...Then, in the past five years, it trebled in size. Last week, Kerr-McGee spread itself still wider. It put together a combine with uranium ore reserves estimated at some 5,000,000 tons on the Colorado Plateau (total U.S. reserves: 30 million tons), worth some $200 million. If Kermac builds a $20 million processing mill next year, it may well become the second biggest (next to Anaconda Co.) uranium producer...
Reserves & Rawhide. Uranium is nothing new to Kermac, whose founder and board chairman is Oklahoma's Oilman-Senator Robert S. Kerr. As far back as 1951, the company was the first oil producer to decide that uranium, instead of being competitive with oil, was a supplemental and profitable field. In 1952, with $700,000, Kermac bought New Mexico's small Navajo Uranium Co., built a mill at Shiprock, N. Mex., did so well that it has expanded operations to a total of $3.3 million. By spending $100,000 a month for more exploration, it uncovered sizable reserves near...
Last week's combine makes it a giant. As operator and controlling owner (more than 50%) of Kermac Nuclear Fuels Inc., the company will pool the reserves of two other companies with its own into one big combine, process the ore, split the profits on a pro-rata basis...
...join Phillips as a warehouse clerk. By 1932 he was assistant to President Frank Phillips. At 35, Adams was named treasurer, and in 1938 he became president. He moved up to board chairman 13 years later. In the Alaskan venture, Phillips, as usual will put up the money, Kermac crews will do the geological exploring and drilling...