GREAT PROSPECTS

Hokitika Guardian, 28 October 1932, Page 6

GREAT PROSPECTS

FOR GOLD INDUSTRY IN N.Z. UTILISATION OF CHEAP -LUEJ JOES’. (Per Press Association — Copyright .) WELLINGTON, October 27. Optimistic prospects for the goldmining industry are held by the Minister of Mines, Hon. C. E. Macmillan, who, speaking in the House to-night, indicated that there was a possibility of big developments taking placid in the Dominion in the near future.’ .i o Mr Macmillan said tlt&Jb heI’frisked 1 ’frisked the Government had finances available to encourage the mining industry, because he thought that developments were taking place which would increase tlie natural wealth. For some time there had been a lull in ti e operations, and during that period, improvements had taken place in mining methods.

Owing to the drop in the price of tin, there were many dredges in the Malay Straits, which, could he bought cheaply, lie said, and which were eminently suitable for mining. He would have liked the Government to have been in a position to assist enterprises to purchase these dredges. The Minister said ho was glad to see that the Unemployment Board was assisting in mining developments. A loan had recently keen granted to a company which.was working on lav grades of ore. Ho preferred that loaris should he given ratlin’ than grants, hut contended that the Government should follow the exnmpo of the Unemployment Board,' and colWt la small subsidy on the gold won. This subsidy could ho used to hui-d up a. fund for the purpose of assisting goldmining activities.