MINING NEWS.

Auckland Star, Volume LXXI, Issue 13, 16 January 1940, Page 4

MINING NEWS.

MOUNT ISA EARNINGS. Mount Ifm Mines, Limited (Queensland), report ii net profit of U 18,708 for the year ended Juno 30, compared with fc 18,74. tor HIUB «nd £ 70.1100 for 1037. Revenue j rom «alo» foil to £1,158,704, ugalnst 0 1.018,733 111 1037-38. Expenditure ill mlnlnit, milling and smelting was i, 887,833, compared with £ 1.tW».»24 In the previous year. The profit does not lncludo allowihumi for clepreclutlon, but provision Is made for Interest, on debentures und loans, overhead expenses, and expenses amounting in £20,(100 In connection with the conversion of third mortgage debenture stock. REPORTS 07 MANAGERS. Mount Lyell (Tiismnnla). — Fortnight ended January 8— Mines, Inns extracted: North Lyell, 1123; Crown Lyell, 000; West t y|,|| 3»> 7.>3. New ore transfer pass— construction work In pro«res,s. Lyelf Cornstuck Uli-11>. Reduction works: Kurnnce In blast'full period; -'7HT> tons relitiery anodes made for current year. Concentrator: Mill otlerated 200 hours find treated 80,402 ton* ore wroduelWf 1381 tons concentrates. Copner rellnery: Tank house In operation throughout fortnight, 440 ton* cathode copSer being produced. Total tor currcnt year, L'4o ton*.