MINING IN NEW GUINEA.

New Zealand Herald, Volume LXVII, Issue 20475, 29 January 1930, Page 15

MINING IN NEW GUINEA.

* OPENING NEW GOLDFIELD,

AEROPLANES FOR TRANSPORT^ Particulars of a scheme by which ailj transport will play an important part the development of a New Guinea, gold* field, reputedly very rich, were given b$ Mr. E. G. Banks, formerly of the Waihi Gold Mining Company, at{ Auckland, who returned by the Maunganuijj yesterday after a business trip to England; and Siam. Mr. Banks expects to Heavaf shortly for New Guinea to inspect an allut vial gold area on the Bulolo Creek. 11

Careful surveys of the area had beenj< made, Mr. Banks said, and it was mated .that there were about 40,000,000j yards of easily dredged gold-bearing;, gravel. It was estimated that it woulat realise a clear profit of £3,000,000. i "Difficulties nave arisen over transport* but they will be obviated by 'the use ojj aisroplanes," Mr. Banks said. "Thsj Bulolo Creek area is only 35 miles fronaU the coast, but the country is so roughij that the journey by fbot takes about week However, an aeroplane can cover;! the distance in about half an hour, and a» there are three emergency landing on the route it will be quite safe for fly*' iug." .( The dredging company would purchssm giant aeroplanes for the work, and they would be operated by Australian aviation company, Mr. continued. All materials and machinery}) needed for the working of the goldfielct? would be transported- from the coast fibyf: aeroplane, and oven the dredges would b®' carried in sections and assembled on that spot. One piece of machinery whifchjt would have to be carried weighed TOOOIbJ Mr. Banks has been investigating th<H tin market in the East, and is of the*} opinion that the present drop in pricstj for tin is only temporary, due.to production. Supplies apd prices were no*jj Wing regulated, and values would be ad«* justed in due course.