I.C.I.A.N.Z. Plans Mineral Industry Expansion

Press, Volume CVIII, Issue 31596, 6 February 1968, Page 17

I.C.I.A.N.Z. Plans Mineral Industry Expansion

(N.Z. Frets Association— Copyright)

MELBOURNE, February 1.

Imperial Chemical Industries of Australia and New Zealand is contemplating expansion in the mineral industry, the joint managing directors (Sir Archibald Glen and Mr T. B. Swanson) say in the annual report of the company.

“Development' effort has been directed towards reappraisal of existing business and its possible future expansion and consideration of other avenues of expansion such as the mineral industry with specialty products arising from the basic chemicals,” they say. (Last week 1.C.1.A.N.Z. announced its entry into the blue metal quarrying field with a giant project neat Port Kembla.) Mary Kathleen The directors of Mary Kathleen Uranium, Ltd, blamed a reduced company net profit for the year to December 31, on an unsuccessful copper investigation, in a premilinary report released here today. According to the report the net profit of $150,863 was

almost $3OOO less than the net profit for the previous year. B.H.P. Ore Sales

They show that 65 companies with more than 25 per cent overseas equity were responsible for 44.5 per cent of the value of mining production in 1965.

Broken Hill Proprietary Company, Ltd, is to sell 9.8 m tons of iron ore pellets to Japan over eight years from next October, Australia's Minister for National Development (Mr D. E. Fairbairn) said tonight, announcing approval of the sale. Mr Fairbairn said that the contract would be supplied from the company’s new pellet plant nearing completion at Whyalla, South Australia. Mr Fairbairn said that it was particularly pleasing that this was a contract for the sale of pellets which would be produced from ore pro-' cessed in Australia. Retail Sales Retail sales in Australia in December were worth a record $804.6m according to figures released by the Australian Commonwealth Statistician (Mr K. M. Archer) in Canberra. Overseas Interest Growing overseas control of the Australian mining industry was indicated in figures released in Canberra by the Australian Commonwealth Statistician (Mr K. M. Archer).