AUSTRALIAN ITEMS

Auckland Star, Volume LXXII, Issue 281, 27 November 1941, Page 3

AUSTRALIAN ITEMS

MOUNT LYELL, PRODUCTION Mining and milling were carried out on an increased scale by Mount Lyell Mining and Railway Company. Limited, in the year ended September 30. according to the directors' report. As announced in a preliminary statement, the year's profit was £169,318, against £183.095 in 1939-40. The slightly lower grade of ore treated and some decrease in metal recovery brought about a small reduction in copper output. Serious delay in delivery of mining and treatment plant on order at the close of the previous year had prevented realisation of expected benefits to copper production. but directors expect the benefits to be felt in the current year. At September 30 ore reserves were estimated at 15,760,000 tons, of an assay value of 1.15 per cent copper, 0.070z silver, and 0.0120z gold a ton.

Amalgamated Textiles.—A further improved net profit of £35,667 is disclosed by Amalgamated Textiles (Australia). Limited, for the year ended Septemtjer 30. It compares with £31.569 for 193940, and is struck after providing £6791 for depreciation, against £7170 last year, and £3788 for taxation, against £1258. In addition £15,291 was expended from income on repairs and maintenance of plapt. Dividend of 9d and bonus of 3d a share, totalling 9.23 per cent, the first distribution since 1937. require £22,063 on the reduced capital.