AUSTRALIAN MINING.
A STATE EXPERIMENT. Tho experiment initiated by the South Australian Government in State mining is reported to have been a costly and altogether unprofitable venture. It is likely that tho present Liberal Government, after having given the Yalta proposition a trial which no mining company would ever have dreamt of doing, will abandon it (says an Australian paper), thus cutting a loss of at least £32,124. Since the mine began working two months ago at a rate sufficient to keep the furnaces going, a loss of £1000 to £2000 lias been made. Tho present Minister of Mires promised to subject the mine to a fair tost, and that having been done, the only course left is to candidly admit tho worthlessness of tho proposition from a payablelet alone revenue-producing—point of viow. As was urged at the time, the venture lacks the most commonplace essentials for ultimate success.
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Bibliographic details
New Zealand Herald, Volume L, Issue 15269, 5 April 1913, Page 5
Word Count
149
AUSTRALIAN MINING.
New Zealand Herald, Volume L, Issue 15269, 5 April 1913, Page 5
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