MANAPOURI SCHEME
‘Govt. Finance Sensible’
(N.Z. Press Assn.—Copyright) MELBOURNE, February 15.
The New Zealand Government’s decision to finance Manapouri was a favourable development for Comalco and a sensible one for the Dominion, the Melbourne “Age” financial editor, John Elsworth, said today. “It will save Comalco the need to find and spend more than £3O million on which it could expect no better than an interest return,” he said.
“The decision means there is now more flexibility in Comalco’s New Zealand venture, since it will not be the sole user of the Manapouri power.” Elsworth said: “With adequate notice to the New Zealand Government the smelter can now be larger or smaller than the origin-ally-planned 96,000 - ton capacity, as the world market position warrants. “Comalco’s Queensland reduction plant will still be of 360,000-ton capacity, as planned. “At Weipa, incidentally, the first regular shipments of bauxite will begin towards the end of March. "So far trial shipments have been made of 30,000 tons to Japan, 9000 tons to Europe and 30.000 tons to Bell Bay.
"Production is at a 350-400,000-ton annual rate.”
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Bibliographic details
Press, Volume CII, Issue 30058, 16 February 1963, Page 13
Word Count
180MANAPOURI SCHEME Press, Volume CII, Issue 30058, 16 February 1963, Page 13
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