MINING PROMOTION.

Auckland Star, Volume LXVII, Issue 196, 19 August 1936, Page 6

MINING PROMOTION.

If the recent attitude of the LabomGovernment regarding assistance in mining is to be continued, then it is time all in New Zealand associated with this industry made their protest with no uncertain voice. It should be noted that the Minister recently criticised some of the New Zealand mining companies of the past as "Ivelly bushrangers," but the Government has agreed to advance about £200,000 of good taxpayers' money to bring electric power to a huge Australiancontrolled company from Lake Coleridge. Why? Practically all of the profits will go to insiders in Australia who hold the shares. This wealthy group of financiers has now formed companies to exploit the richest areas on the West Coast. This may supply a reason why the gold tax of 12/G per ounce lias not been removed, as that, appears to be all this Dominion will get out of the sclieme. Meantime the poor old fossicker who presents his one ounce of hard-won gold is mulct in 12/6 for his pains, yet -he works and spends his money in New Zealand. A review of the prospectus issued by the company mentioned is a revelation, and as a mining man who has never yet succeeded in getting the slightest, help from the Government of this Dominion, I am more than amazed that the Government has agreed to advance the huge amount named. It is moreover reported that the pontoons for the dredges the company will use are to be made in the railway workshops at Addington. If so, why does the Government interfere with private enterprise ? Having succeeded in establishing dredges with success on the West Coast, we would have been very pleased to get even a few hundred pounds as a contribution, but, instead of that, find our returns penalised to the extent of 12/6 per ounce with 110 prospect of removal, together with higher wage, costs. wonder that English investors are shy. MINING ENGINEER. '