ELECTROLYTIC ZINC

New Zealand Herald, Volume LXXV, Issue 23178, 26 October 1938, Page 9

ELECTROLYTIC ZINC

ALUMINIUM WORKS NEW INDUSTRY PLANNED' LARGE OVERSEAS INTERESTS [from oi?r own correspondent] MELBOURNE, Oct. 20 Proposals for the establishment in Australia of aluminium production and fabrication were substantially advanced during the recent visit to England of Sir Colin Eraser, chairman of directors of Electrolytic Zinc Company of Australasia, Limited, states the company's annual report. The constitution of the company to produce the metal has been broadened and the participating interests now are: —British Aluminum Company, Limited, 33 1-3 per cent; Aluminium, Limited, of Canada, 33 1-3 per cent; Electrolytic Zinc Company of Australasia, Limited, 20 per cent; Metal Manufactures, Limited, 13 1-3 per cent.

The first step in connection with the now industry will be the establishment of a rolling mill and extrusion plant to deal with aluminium and its strong alloys. This will probably be erected on a site adjacent to the works of Austral Bronze Company Proprietary, Limited, at Alexandria, Now South Wales.

At a later date, when consumption warrants it, reduction works for the production of ingot aluminium will be erected either in New South Wales or Tasmania, at a location where low cost power is available. Until the reduction works are established the aluminium required for the fabrication works will be supplied by Electrolytic Zinc's oversea partners in the business. It is intended to expand the works from time to time to meet the full requirements of the Australian market for aluminium and its alloys.

VALUE OF POUND CONCERN IN AMERICA EFFORT TO RAISE URGED (Received October 25, 7.14 p.m.) WASHINGTON", Oct. 24 United States Treasury experts stated that unless Britain exerts efforts to raise the value of the pound th« tripartite agreement will,, be valueless. They hint that if the agreement <s upset the Tinted States will have to devalue the dollar in order to compete in the world markets. GOLD AND SILVER QUOTATIONS IN LONDON LONDON, Oct. 21 Fine gold is quoted to-day at £7 os lid an 07... compared with £7 <js lid on Saturday. The quotation for silver at per fine o 7.. is 121 3-Iftd, compared with '2l 5-i tid oil October 21. The following is a summary of the fluctuations in the price an ounce of line gold this year: — £ s d Highest price, September 28 7 7 0 Lowest price. January 3 .. 010 5 October in 2 October 10 2 {» ? October 20 . . • ■ i •> '<>'% October 21 . . • • •_ " 2 i Or lobar 22 I 1' ,J 't October 21 . . • • • • < 011 -PRICES OF METALS A FIRMER TENDENCY LONDON, Oct. 24 Following are to-day's quotations on the London metal market, compared with those of October 21: — Oct. 21 Oct. 1 21 Per ton Per ton I' s d C s il Copper, stall., spot 10 5 0 45 It 3 Copper, stan., nios. 40 0 iVi 45 Hi 3 Copper, electrolytic 52 O 0 51 10 O to to 53 0 0 02 10 0 Copper, elect., wire bars . . 53 0 O 52 10 0 Lead, soft, spot 10 3 0 10 1 3 Lead, soft, forward 10 0 JOVi Ml 3 1% Spelter, spot 15 7 o 15 3 0 Spelter, forward . . 15 8 0 15 5 7|/j Tin, stan., spot , . 210 17 0 2< 18 7 (1 Tin, stan.. 3 nios. 21J 17 0 200 7 6 MINING NEWS YIELDS OF COMPANIES Clutha Dredging (Otngo).—2looz, for 1.10 hours. Gillespie's Beach (South Westland'i. 21 oz. lOdwt. from 15,990 yds in 11.') hours. Blackball Creek (West Coast). — 107oz. from 19,700 yds in 218 hours. Mataki "Dredging (Murchison). —47oz. from 8200 yds in 128 hours,