GOLD AND COAL

New Zealand Herald, Volume LXXI, Issue 21906, 15 September 1934, Page 15

GOLD AND COAL

DOMINION'S PRODUCTION HIGHER VALUE OF BULLION SMALL OIL OUTPUT [BY TELEGR.yH —SPECIAL REPORTERI WELLINGTON. Friday The value of the bullion produced ui New Zealand during 1933 showed an increase of £79,765 over the previous year, due to the higher price for gold, according to the Mines Department Statement, presented to Parliament to-day. Last year's production amounted to 5P2,2470z., valued at £1,099,579, a decrease in quantity of 136,8990z., but an increase in value of £79,765 as compared with the previous year. The gold content of the bullion for 1933 is estimated at 161,7550z., valued at £1,063,543, compared with 166,3540z., valued at £874,734, for 1932. The value of minerals exported, including kauri gum. and of coal used in the Dominion, amounted to £3,151,807, compared with £2,883,211 during 1932. The total value of such minerals exported to the end of 1933 amounted to £185,091,367. The amount of goldfields revenue received and payable to local bodies during the year ended March 31, 1934, was £19,1380, an increase of £3557 over the previous year. During the same period the duty on exported gold amounted to £129,820, of which £8177 was credited to the accounts of the local bodies. The special export duty of 12s 6d an ounce amounted to £117,090, which was paid into the Consolidated Fund. An indication that the increased interest in the mining industry is being maintained is given in the number jf licences for mining privileges granted during the year. These totalled 3093, as compared with 1982 for the previous year and 1276 for the year before that. Of the total issued for the year ended March 31, 1934, 554 were licences for claims authorising the holders to mine for gold, 271 more than for the year before. The production of coal showed a decrease of 20,764 tons for the year, amounting to 1,821,258 tons. During the year one company was actively engaged in boiing for oil in the Dominion, the aggregate depth bored in two wells being 3128 ft. A production of 169,675 gallons of oil was obtained from Moturoa Nos. 1 and 2 wells at New Plymouth. The Dominion's total production of crude petroleum oil to December 31, 1933, was estimated at 2,067,464 gallons. AID TO PROSPECTING SUCCESS OF SUBSIDY PLAN MUCH GOLD WON [BY TELEGRAPH —SPECIAL REPORTER] WELLINGTON. Friday Considerable benefit has been derived by the gold mining industry from the assistance given by the Unemployment Board by way of subsidies paid to men to assist them in prospecting. The Mines Department Statement, prison ted to Parliament to-day, shows that from the inception of the Unemployment Board's prospecting schemes to March 31 of this year subsidised miners have won approximately 10,000oz. of gold. During the year the net expenditure by the board for subsidies, supervisors and the purchase of equipment was £198,334, including £7293 paid to mining companies and syndicates by way of subsidy on the wages of the men employed.- During the year ;in average of men have received assistance. It is explained that applications for subsidies made by companies and syndicates are thoroughly investigated by the Mines Department. In these cases the amount of the subsidies received is refundable before dividends can be paid. Already one company, which could not have carried on but for the substantial assistance from the board, had refunded the full amount of the subsidy paid. The assistance thus given had not cost the country anything, and had enabled 30 men to be retained in employment, besides making it possible for the company to find work for additional men. It is stated that many claims which have required time to develop are now reaching the production stage, and it is reasonable to expect that the amount of gold won in the coming year will show- an increase. Expert assistance and guidence are always available to the men, and every endeavour is maile to see that they are given a fair chance to succeed and become independent of assistance. Already quite a number of men previously in receipt of financial aid are now able to carry on without the subsidy.