N.Z. GOLD OUTPUT £949,760 LAST YEAR

Grey River Argus, 7 October 1949, Page 3

N.Z. GOLD OUTPUT £949,760 LAST YEAR

Martha Mine’s Notable Record

P.A. WELLINGTON, Oct. 6. The Martha mine, at Waihi, must be accounted one of the great gold mines, of the world, as it had produced bullion valued at £24,174,563 to the end of 1948, and paid £6,916,784 in dividends, stated the annual Mines Statement presented to Parliament to-day. The report stated that there had only been two quartz mines of any consequence, for some years—the Martha, and the Blackwater near Reefton. The former had been responsible for over 70 per cent, of the output of gold from the quartz . mines, Although the Martha mine eeased active development work many years ago, and the operations had been mainly of a reclamation nature, it had maintained its position as New Zealand’s main gold producer. SLUICING DECLINE The decrease in the alluvial mining production had been marked over recent years. In 1934 the gold won by this means totalled 3,5410 z, but last year was only 21240 z. Only one sluicing company of any consequence was operating and the bulk of the production was now due to the work frequently intermittent, of small parties and individuals. From 1857 to the end of 1948, New Zealand exported 26,578,2310 z of gold valued at £118,055,275, which had been invaluable in the development of the country. The gold from the Martha mine last year totalled 26,9750 z valued at £328,317, and from the Blackwater mine 99770 z, worth £96,023. The total of all gold won last year was 93,9030 z, of which 37,1350 z was from quartz mines while 54,6440 z was won by dredging'and 21240 z by alluvial mining. SILVER PRODUCTION Quartz mines accounted for 231,865 ounces of last year’s silver production of 232,5630 z, the Martha mine producing 231,7530 z of the total. The value of all production was £949,760, quartz mines accounting for £426,075; dredging for £503,351, and alluvial mining for £20,334.