£17.5m SPENT BY COLMALCO
(N.Z.P.A.~Reuter— Copyright) MELBOURNE. April 24.
The Conzine Riotinto Company of Australia (C.R.A.) and the Kaiser Aluminium and Chemical Corporation of the United States have spent almost £17,500.000 *o far in Comalco Industries Proprietary, Ltd. This has been announced in Conzine Riotinto’s annual report. Conzine has a halfinterest in Comalco.
The annual report said Riotinto had contributed £8,675,000, of which £2,000,000 was equity capital. Directors of Riotinto said similar amouits had been provided by Kaiser, which owns the remaining 50 per cent, of shares.
During 1962, Riotinto advanced a further £2,975.000 as a long-term interest-free loan to Comalco.
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Bibliographic details
Press, Volume CII, Issue 30115, 26 April 1963, Page 17
Word Count
101£17.5m SPENT BY COLMALCO Press, Volume CII, Issue 30115, 26 April 1963, Page 17
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