DOLLAR OFFER FOR VAST COAL SCHEME
BRISBANE, This Day (Rec. 2 p.m.).—A new proposition involving the investment of 25,000,000 dollars has been made for the development of coal at Blair Athol, which has enormous deposits of black coal suitable for open-cut working. The main .difficulty at present is transportation 1o . the coast, 130 miles from the workings. The offer concerns the building of a giant conveyor belt system to the coast.
Rumours of the offer have been confirmed by Mr D. M. Corrie, managing director of Blair Athol Open-cut' Collieries, Ltd. Nineteen mouths have passed since the Queensland Government signed an agreement with Mr T. J. Hirst, acting on behalf of the Electric Supply Corporation of England, but so far little appears to have been clone to take advantage of the terms.
The Queensland Government has power to insist on the exercise of the franchise within a reasonable time and in the event of continued failure to end the agreement. The volume of coal at Blair Athol has been estimated at not less than 200,000,000 tons.
Beyond saying that the offer came from America, Mi’ Corrie today refused to discuss the matter further. He declined to disclose the name of the party making the offer.
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Greymouth Evening Star, 3 August 1949, Page 5
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205DOLLAR OFFER FOR VAST COAL SCHEME Greymouth Evening Star, 3 August 1949, Page 5
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