GOLD MINING

Evening Post, Volume CXIV, Issue 103, 28 October 1932, Page 3

GOLD MINING

MINISTER OPTIIifIISTIC DEVELOPMENTS PROPHESIED Optimistic prospects for the gold mining industry are held by the Minister of Mines (the Hon. C. E. Macmillan), who, speaking in the House of Representatives last night, indicated that there wag a possibility of big developments taking place in the Dominioa in the near future. , Mr. Macmillan said that he wished that the Government had the finances "available to encourage the mining industry because he thought that developments were taking place which would increase the natural wealth. For some time there had been a lull in the operations, and during that period improvements ' had taken place in mining methods. Owing to the drop in the price of tin there were many dredges in the Malay Straits which could be bought cheaply and which were eminently suitable for mining. He would have liked the Government to have been in the position to assist enterprises to purchase these dredges. He was glad to see that the Unemployment Board was assisting in mining developments, and a loan had recently been granted to a company which was working on low grade ores. He preferred that loans should be given, lather than grants, but contended that the Government should follow the example of the Unemployment Board and collect a small subsidy on the gold won. This subsidy could be used to build up a fund for the purpose of assisting gold mining activities.