CHATHAMS PEAT WAX
Test results excellent
Extraction tests on the peat wax deposits in the Chatham Islands shows a yield in excess of 25 per cent.
Karangi Minerals Australia, N.L., one of the companies with an interest in the deposits—through Pan Pacific Mining Corporation, Ltd, —said that this compared more than favourably with other world producers, whose extraction rate varied between 4 and 10 per cent. The tests were carried out in Australia, and by the New Zealand D.S.I.R.
The cost of production from open cuts is such that the company would be able to enter world markets on more than competitive terms, the directors said.
Feasibility studies on markets had shown that the demand for this type of work exceeded supply, they said. The company expects to sell wax to the value of sBm, beginning in the latter half of 1973; cost studies indicated that these sales would yield a pre-tax profit of ssm. Stock piling is planned to begin early in 1972. It was expected to have the New Zealand holding company operational during the first three months of 1972 the directors said.
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Bibliographic details
Press, Volume CXI, Issue 32774, 26 November 1971, Page 10
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185CHATHAMS PEAT WAX Press, Volume CXI, Issue 32774, 26 November 1971, Page 10
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