Word: ores
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Dates: during 1950-1959
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...year in history. From Norway to Nagasaki, slipways are jammed with new hulls. Though they are busily expanding capacity to handle the boom, some shipyards cannot promise delivery before 1962. Anticipating a continued upsurge in world trade (which has already soared 50% since 1948). shipowners are ordering giant new ore carriers, combination ore-petroleum ships, roll-on, roll-off carriers to haul loaded trucks and vans, fast new freighters to slake the world's impatient thirst for machinery and steel, coal, wheat, and other basic raw materials that must be hauled from the ends of the earth (see color...
...first, and then it finally spreads out." A small independent, Kerr-McGee spent 20 years pulling itself up to a $15 million annual business. 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...
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...
...subsidiary of Texas Co. and New Jersey Zinc. Fletcher Bronson and family originally bought mine for $1,000 as copper prospect in 1946, once turned down $15 million for it. Texas-Zinc is mum on purchase price, but has already started building processing mill at Mexican Hat to handle ore from Happy Jack and other southeastern Utah mines...
...URANIUM ORE PRODUCTION in the U.S. is up to nearly 3,000,000 tons annually (v. 70,000 tons in 1948), thus making U.S. the free world's leading producer, says AEC Raw Materials Director Jesse C. Johnson. U.S. ore output will eventually climb to 5,000,000 or 6,000,000 tons annually...