MINING BILL

Grey River Argus, 13 August 1937, Page 12

MINING BILL

- Minister’s Intentions f Mining interests nope great things ? from the Bill which the Minister of ’ Mines (the Hon. P. C. Webb) has pro- ’ mised to bring down next session. On ’ taking office, the Minister outlined ‘ his policy, which would, he stated, encourage production and as far as possible restore the mining industry to its former prosperity. He spoke of doubling' New Zealand’s output of gold. Apparently Mr Webb has since settled the main outlines of his Bill, having toured the principal mining districts and consulted with all classes of people engaged in the business. One point at stake is the special gold export duty of 12s 6d an ounce imposed as a temporary measure during the stress of the depression. Mining interests have ever since been pressing for relief from ’this. Mr Webb has made it clear that he intends “as far as humanly possible,” to restore the industry to its former position of importance in the national economy. The reproach of its being described as the “Cinderella of New Zealand industries” is to be removed. Consideration would be given, he said soon after taking office, to the gold export tax. It is his opinion that a substantial proportion of the duty should be ear-marked for prospecting and assisting development of * new mines.

Taking up this statement at the annual meeting of the Talisman Dubbo Company, the chairman of directors (Mr W. F. McCallum), suggested that this could best be done through the medium of existing companies. They control the richest fields and if the proceeds of the tax were returned to them as a grant to be used exclusively for development and prospecting work the best interests of the industry and of the country would be served. The increase in gold production and in numbers employed would be much greater, he claimed, than if the revenue were spent on the extremely uncertain work of prospecting for new fields or developing untried areas. Another suggestion whereby the preportion of gold won which is necessary' to provide for the average working costs, should be exempt from taxation, was put forward by Mr W. P. Guavain, chairman of directors cf the Waihi Grand Junction Gold Company, Limited, at -the annual meeting in London recently. The proposed amount to be freed from taxation was the first 5 dwt. of heading value a ton.