Very interesting plant. It would look like a dirt processing system except for the circular pile of logs. Can anyone explain what is going on?

Found a name for it, North Carolina Chip, Canal Wood LLC. So I guess it makes wood chips.

Correct, it's known locally as "the chipper mill". I don't think it's as big of an operation today as it was back then. I believe they still send an occasional train load down to either Morehead City or Wilmington. Otherwise that rail line is seldom used.