Company News NEW COMALCO MOVE
£3sm. Alumina Plant
(N.Z. Press Assn.—Copyright) BRISBANE. April 18.
A £3sm alumina factory will be built at Gladstone, about 360 miles north of Brisbane. Sir Maurice Mawby, th- chairman of directors of Comalco. the company developing the giant Weipa bauxite field, announced here today. Comalco is jointly owned by Con Zinc Riotinto of Australia. Ltd.. CR A. Kaiser Aluminium. U.S.A Sir Maurice Mawby said it was planned to start production in Gladstone by early 1967. Other compans officials said today that work would start “almost immediately.” The refinery will support a work force of almost 50 Another 300 to 400 men will be engaged in the construction.
Today’s announcement—a long-awaited final decision, ends several months of speculation on the site. Sir Maurice Mawby said today that construction would probably take up to four years. He said it was hoped ‘he refinery would be of 360.000 tons capacity a year Raw bauxite ore would be shipped from Weipa to Gladstone.
Boral Profit Rises (N.Z Press Assn.—Copyright) MELBOURNE. April 18 Group profit of Bitumen and Oil Refineries (Aust). Ltd., for the half-year ended December 31, before tax, almost equalled the gross profit for the previous full year. The half-year profit of £1.220,334 compares with £1,309.614 for the year ended June 30. 1962
The net profit for the halfyear is £818.878. against £1.043 514 for the previous full year, accounts in the formal take-over offer to Mount Lyell Investments show. The interim dividend for the current year has been increased from 7 J to 10 per ce.it. Final dividend last year was 10 per cent
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19630419.2.159.3
Bibliographic details
Press, Volume CII, Issue 30110, 19 April 1963, Page 12
Word Count
267Company News NEW COMALCO MOVE Press, Volume CII, Issue 30110, 19 April 1963, Page 12
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in