Word: steen
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Dates: during 1950-1959
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...through the uranium country in the Western states, ore has piled high outside the mines as production outsped the expansion of uranium refineries. One of the biggest stacks of ore lies outside the rich ($60 million in proved reserves) Mi Vida mine of Charles Steen, the onetime oil geologist who discovered Mi Vida when he was almost penniless, thereby touched off southeast Utah's first big uranium strike (TIME...
...been collecting at Mi Vida's portal at the rate of 15,000 to 20,000 tons monthly, now lies in heaps 40 ft. high. The sight of such idle riches disturbed Steen, so he decided to build a mill himself. Last week he signed, for his Uranium Reduction Co., a contract with the Atomic Energy Commission to build an $8,000,000 to $10 million uranium-reduction mill, the biggest...
...Steen's mill, the eleventh in the nation, will go into production next summer, will refine ore (by the sulphuric-acid leaching process) from Mi Vida and other mines in the Big Indian Wash district, as well as from AEC's nearby stockpile. To finance construction, Steen will borrow $3,500,000 from New York's Chemical Corn Exchange Bank, $6,200,000 from the New York Life Insurance Co., thus bring a major insurance company into the uranium business for the first time. Steen need not worry about customers: AEC will take the mill...
...Parting Guests. In Wichita, Kans., after being robbed by two bandits ol $1,500 and forced to carry a stolen bag of' groceries to their car, Grocer Dale Steen was forced at gunpoint to borrow a customer's car, push the getaway car a quarter of a mile to get it started...
...uranium boom on the Colorado Plateau has spawned another crop of big rich, led by Vernon Pick, who sold his uranium mine to Floyd Odium's Atlas Corp. for $9,000,000 (75% of which Pick kept under capital gains), and Charles Steen, whose Utex Exploration Co. (90% owned by Steen) has an estimated $150 million worth of uranium underground. Hollywood's high-paid stars, who by tradition blow their wealth on caviar and Cadillacs, have also learned how to join the ranks of the new millionaires. Bing Crosby, for example, was able to buy 20,000 shares...