AUSTRALIAN RIO TINTO
Development Of W.A. Ore
(N.Z. Press Assn.—Copyright)
MELBOURNE, April 3.
The Rio Tinto Mining Company, of Australia, Ltd., intends to accelerate immediately its programme to determine the full potential of the Western Australian Pilbara iron ore deposits and the best methods of development. The company will spend £500,000 on surveying the deposits within the next few months.
Announcing the acceleration plans, the company’s chairman (Mr B. Pelly) said that the Western Australian Government had granted the company temporary reserves in the Pilbara area covering substantially the iron ore deposits discovered by Rio Tinto in association with Mr L. Hancock. New Grants
The new grants total 24 reserves and are in addition to the 10 temporary permits of 50 square miles each granted to the company in 1961. Mr Pelly reaffirmed his earlier statement that an invitation had been extended to Consolidated Zinc Proprietary. Ltd., and to Kaiser Steel Corporation of America to be associated with Rio Tinto in development of the Pilbara area to prove their economic worth.
Mr Pelly said that he thought an early development of a domestic industry would be premature. Some years’ work would be necessary before full development of the Pillara areas could be achieved. even if the iron ore deposits proved economic.
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Bibliographic details
Press, Volume CI, Issue 29791, 6 April 1962, Page 15
Word Count
211AUSTRALIAN RIO TINTO Press, Volume CI, Issue 29791, 6 April 1962, Page 15
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