Norpac Mining winding-up
J Press Association) The winding-up petition of J the creditors of Morpac Minting, Ltd, will be heard in the i(Supreme Court at Hamilton _|on July 11. ’( Norpac was placed in reJ ceivership by the Govern“'ment in November, 1973, after the Development FinI ance Corporation lent it - $120,000. ■| The Mitsui Corporation, I declined to renew its conII tract for purchase of lead- - 5: zinc concentrate because ore L from the Tui mine was conitaminated with mercury. ■| D.S.I.R. scientists were 1 1 called in to develop an alter- ( native refining process, but 5 ! Mitsui then cut out further r ! purchases when the Japan- > ese Government ordered a ! 20 per cent production drop U because of the energy crisis. ‘I The research continued, ’ and D.F.C. money propped ; up Norpac while a search . began for other markets for 1 the ore, but none was found. The mine was closed in February, and later the assets were sold off to Mineral Resources (N.Z.) Ltd.
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Press, Volume CXV, Issue 33878, 25 June 1975, Page 18
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162Norpac Mining winding-up Press, Volume CXV, Issue 33878, 25 June 1975, Page 18
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