MINING NEWS
MOUNT LYELL YEAR
"Mount Lyell's spectacular increase of dividend from 2i per cent, per annum to 10 per cent, is due to the increase in net earning to £187,921 or nearly three times greater than for 1935. The profit was arrived at after writing o(T £31,908 for prospecting and development, £44,671 for depreciation, and £26,636 for taxation. Full accounts will not be available until the end of the month. The increase in earnings is attributable largely to the higher price ruling for copper. In September, 1935, the average London price ruling for electrolytic copper was £38 4s 10d a ton. The latest London average is £47 10s. In Australian currency the current price of copper is about £60 a ton. In the year 12,335 tons of blister copper were made, compared with 13,927 tons in 1935, and 13.096 tons of cathode copper were produced, as against 12,232 tons in the previous year.
NEMONA DREDGE. Nemona Dredge reports 70oz from 1650 cubic yards for 124 hours.
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https://paperspast.natlib.govt.nz/newspapers/EP19361117.2.161.15
Bibliographic details
Evening Post, Volume CXXII, Issue 120, 17 November 1936, Page 14
Word Count
167MINING NEWS Evening Post, Volume CXXII, Issue 120, 17 November 1936, Page 14
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