MINING.

Otago Daily Times, Issue 18445, 5 January 1922, Page 7

MINING.

■ * ( ■ > ■ 'y.t i ‘ > •;-» Eh« secretary of the Nokomai Hydnalla 'A Sluicing Company reports that a w»eh-up waa made at No. 2 claim, tj» result being ,- .’ 1220 z 4dwt. No, 3 claim also had a wash-up,. .>*; the result being 770 z .lldwt. .fr&av :• , • ■ ■ V r : ' COMMONWEAL’S GOLD YIELD*; - - ' Tho yield: of gold in Australia for-Not»a»- *j her makes a poor showing when : compared with that fpr November of previous! years, as. it is 20,9240 z leas thon. that of the corresponding month (states the Sydney .Shipping List. Considering that the, continuance of a number of mines has for stmt* time rested largely upon' the premiums dorived from sales of gold in the United States’ and the East, prospects for the industry are unfavourable, especially as tho leodvwj* m ■ the dollar-sterling exchange rate. means'-“ai much lower rate for gold. For The < eleven months of the year the decline in the output stands out prominently, being X 79,2680? ices than for the corresponding' p<pod -in 1920. If compared with the same term "two yeans agy, production'has shrunk by 325,8620 z-fine. Tho <eaaier tendency of the market for gold may mean that before long' tho preinniun received may be insufficient to warrant opera- -!■ tions in. some of the mines in view of -,the -i current high costs of labour. The following is a comparison of aggregate commonwealth yields for the first 41 months of the year •' with those of 19X9 and 1920: ’ 5 $ Oz. fine. . Oz. fine, o-Oz.dne, Victoria' .. 120,522 136,886 - .93,759 ‘ ; N.S.W. .. .. 58,653 44,637 .. <•, -48,186’ '‘- Queensland 110,429 101,307 86,034 ’ W. Australia 705,397 668,921 499,038 •S. Australia 6,600 '4,000 8,309 •Tasmania 9,626 , 5,774 6,500 •Approximate.