MARTHA GOLD MINE OPERATIONS ARE LIKELY TO CONTINUE
AUCKLAND, Sept. 22 (PA.)— The Martha gold mine at Waihi IS expected to continue producing until at least the end of next year,, as a result of the increase in the price of gold from £8 8k 6d to £l2 4s 6d an ounce. , It was announced in June that me Martha Gold Mining Company (Waihi), Ltd., would commence closing the mine immediately because it was no longer economical to operate. The local director and attorney of the company, Mr J. H. G. Banks, said in Waihi today that a reassessment of the whole operating position was- being made, and > the directors would no doubt authorise continuance of operations until at least tne end of 1950. Since the announcement that the mine was to close work has been confined to the extraction of remnants of ore. However, very few men have been dismissed apd only a small number have left. The number of miners employed is now about 95, compared with a normal strength of about 125. Mr Banks said on Monday that the present number would not be sufficient if normal,work was resumed.
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Greymouth Evening Star, 23 September 1949, Page 7
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192MARTHA GOLD MINE OPERATIONS ARE LIKELY TO CONTINUE Greymouth Evening Star, 23 September 1949, Page 7
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