A.I.D.C. lends W.M.C. $3.5M
! NZPA Perth I The Australian Industry Development Corporation has offered the Western Mining Corporation, Ltd, sAust3.sM over the next 12 months towards the cost of a developIment programme at the Windarra nickel mine. The total cost of the profgramme, which has already j begun, is expected to be between SSM and S7M. ■ The A.I.D.C.’s offer is in addition to an earlier underI taking to finance spending normally carried out by Poseidon, Ltd, which owns jthe other half of the Win-' idarra mine. This financing is believed! Ito be costing the A.1.D.C.1 about $250,000 a week. Posei-I don was put into receivership | by the A.I.D.C. in October I (and there have been doubts i about the future ownership lof the project since. The major part of the deIvelopment programme is the I removal of several million I tonnes of overburden from lone of the nickel deposits. • Deepdrilling will also bei j carried out with the objective of defining further oreI reserves. I
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19761208.2.179
Bibliographic details
Press, 8 December 1976, Page 29
Word Count
165A.I.D.C. lends W.M.C. $3.5M Press, 8 December 1976, Page 29
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in