IRONSANDS DEPOSIT
Development Next Year (N.Z. Press Association) HAMILTON, July 20. Development of the Taharoa ironsands deposit should begin early next year, a spokesman for New Zealand Steel, Ltd, said today. Two of the company's senior personnel have just returned from Japan after reaching a conditional agreement with five Japanese steel companies over an Ironsands contract.
The five companies, Nippon Steel Corporation, Nippon Koban Labushiki Kaishi, Sumitomo Metal Industries, Ltd, Kawasaki Steel Corporation, and Kobe Steel, Ltd. have agreed to a conditional 10-year contact for the supply of 11 million tons of ironsands concentrate with New Zealand Steel. The agreement Is subject to Government approval. It requires completion of negotiations within six months. The 600 Maori owners of the Taharoa ironsands block have also reached an agreement with New Zealand SteeL
Once the provisional agreement with the Japanese is ratified, New Zealand Steel will be able to go ahead with building a concentration plant at Taharoa. However, the company has refused to reveal any of its plans until all negotiations are complete.
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Press, Volume CX, Issue 32354, 21 July 1970, Page 26
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172IRONSANDS DEPOSIT Press, Volume CX, Issue 32354, 21 July 1970, Page 26
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