GOLD DREDGING

Evening Post, Volume CXXVII, Issue 111, 13 May 1939, Page 13

GOLD DREDGING

PROSPECTS IN NEW ZEALAND

Important developments in the goldiredging industry in New Zealand may take place as the result of the Visit to New York next month of Mr. Walter J. Radford, of San Francisco, general manager of the Grey River Gold Dredging Company and of the Eimu Gold Dredging Company. Mr. Radford will leave New Zealand for the United States of America at the end of this month, and will return in about three months. "Our company," Mr. Radford said, in an interview in the Christchurch "Press," "has gold - dredges in many parts of the world, including six in South America, but we like New Zealand better than any other country. "We want to find new fields in New Zealand, and I hope we shall. That is one ■at the matters I shall discuss at the "ompany's headquarters in New York." The prospects of the gold-dredging industry in New Zealand were bright, Mr. Radford said, but new ventures, which required the outlay of huge capital sums, called for operating costs to be kept as low as possible. One sometimes wondered, Mr. Radford said, if New Zealand as a whole fully appreciated the potential value of its dredging industry, which represented new wealth, steady employment of labour, and much business activity in the manufacture and supply of machinery parts and of other material required in the working of the dredges. . Mr. Radford said his company had been operating for 17 years at Rimu. In that time, gold to the value of £1,236,702 had been produced, every penny of which was. newly-created wealth.