MINING NEWS.

New Zealand Herald, Volume LXIX, Issue 21233, 13 July 1932, Page 5

MINING NEWS.

WEST AUSTRALIAN YIELD.

FURTHER INCREASE IN JUNE.

288.7640 Z. FOR THE HALF-YEAR.

The Western Australian gold yield for June was 50,079 fine ounces, valued at £212,724 at £4 4s lljd an ounce, which is without allowing for • premium or bounty. This compares with 47,5080z. in June, 1931, and is tho highest Juno yield since 1920. The total for the six months was 288,7640z., an increase of 63,4830z. on the yield for the corresponding period of 1931. Recently, from 8201b. of ore produced at the Eureka Mine, near Cue, Western Australia, 9710z. of gold was obtained. MOUNT ISA PRODUCTION. YIELD OF £51,600 IN MAY. From 41,916 tons of ore treated at Mount Isa Mines, Queensland, during May, the company obtained 3582 tons of lead and 168,000 ounces of silver, together valued at £51,600, equal to 25s a ton. New sintering equipment and the third blast furnace will shortly raise the output to 5000 tons monthly. AUSTRALIAN PRICE OF GOLD. RISE OF Is 6d AN OUNCE. The price fixed by the Commonwealth Bank for gold, including jewellery, lodged at the Melbourne Mint, for the week ended July 1, was at the rate of approximately £6 10s 5d a standard ounce (22 carat), equal to a premium of 67£ per cent. Payment is made according to the assay value of the gold. The price was Is 6d an ounce higher than that ruling during the previous week, when the premium was 65£ per cent. The Commonwealth Bank's price for sovereigns, at head office, Sydney, has advanced from 32s to 32s 6d.