Japanese May Look At Old N.Z. Mine Claims

Press, Volume CIII, Issue 30454, 30 May 1964, Page 14

Japanese May Look At Old N.Z. Mine Claims

"The Press" Special Service AUCKLAND, May 29. Japanese mining experts may soon be investigating the potential of old mining claims in the Coromandel Peninsula. From the Mitsui Mining and Smelting Company, Ltd., of Tokyo, they will be working in co-operation with men from a Canadian company, South Pacific Mines, Ltd., which has amalgamated more than 700 old Coromandel mining claims into about 40.

The old claims were all being worked at the turn of the century. Other areas in the region are still to be thoroughly explored. Properties likely to be worked in the near future are in the Sylvia group of mines in the Tararu-Puhoi-Thames area. A great deal of drilling is reported to have been done there in recent months. About 14 years ago Sylvia Mines Consolidated, Ltd., offered the Electrolytic Zinc Company of Australasia, Ltd., an option over its sulphide ore deposits, apparently without result.

After five years of exploration in the Coromandel-Te Aroha area, South Pacific

Mines announced last year that it was preparing to embark on a mining and milling project in the area. One of the men behind the project, Mr B. H. Swig, said at the time that South Pacific Mines expected to make a profit of up to £250,000 a year from the operations. Further investigation had still to be made, however. The Japanese have now entered the field because of a long-term 50-50 contract signed by the Mitsui company and South Seas Mining, Ltd., of Vancouver, British Columbia, for the development of mining properties in the Highland Valley of central British Columbia.

Operating profits of companies already in the Highland Valley are running at more than 10 million dollars (about £3.31 million) a year. South Pacific Mines, which is the largest shareholder in South Seas Mining, has announced that Mitsui was investigating the possibilities of developing its New Zealand properties. Mitsui has had more than a century’s experience in successful world-wide mining and milling.