Utah interest in Waipipi raised
PA Wellington Utah International will become the major partner in Waipipi Ironsands, Ltd on Monday when the present major partner, Marcona Corporation, sells its 75 per cent shareholding to Utah International. Utah has a 46 per cent shareholding in Marcona, Cyprus Mines of Los Angeles holds another 46 per cent, and other shareholders eight per cent. The change in ownership
lis not expected to result In ! changes in ironsand mining, said the general manager of Waipipi (Mr P. Connolly). i Two vice presidents from Utah, Mr K. Wallace, and Mr R. Long, were in New Zealand in connection with the ownership change. They spent seme time at Waipipi this week, and i visited the Wellington partner. Viking Mining Co. j Ltd. a subsidiary of the Todd Group, with a 25 per cent ’shareholding in Waipipi.
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Press, 17 April 1978, Page 19
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140Utah interest in Waipipi raised Press, 17 April 1978, Page 19
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