SEARCH FOR GOLD

Otago Daily Times, Issue 22052, 7 September 1933, Page 6

SEARCH FOR GOLD

MODERN MINING METHODS MR L. E. SINCLAIR INTERVIEWED. The opinion that as modern engineering equipment had made it possible to forecast with reasonable certainty just what returns would be, mining, at least in the older countries of the world, was now recognised as an industrial investment and not as a gamble, was expressed yesterday in an interview with a Daily Times reporter at the City Hotel by Mr L. E. Sinclair, A.R.S.M., M.A.1.M.E., A.1.M.M., a mining engineer of worldwide experience, who has arrived to take up a business appointment in New Zealand. Mr Sinclair, who has worked in mines in Cornwall, Luxembourg, and Mexico, and who was manager of a chrome mine in New Caledonia, probably the largest in the world, said that what had previously been insurmountable difficulties in the way of success for the old-time pnspcctor did not now present even a problem to the modern engineer. As an example he quoted one mine in Mexico where 30,000.000 gallons of water was being pumped a day. In fact, more water than ore was being shifted, and yet the mine was being made to pay. Electric-ally-operated shovels and dredges had also done an enormous amount to revolutionise mining methods. 'Thou there was the process of flotation through which millions and millions of tons of copper, zinc, and lead had been put on the market. In fact, the poor state of the market for these com 1 modifies to-day could be directly attributed to this method of treating ore. The process was being further developed and extended to gold mining, and it was now possible to save all the fine gold which the old sluice boxes and cradles could not hope to catch. Modern equipment had given a big impetus to mining throughout the world, enabling previously unpayable ground to be worked profitably. This was especially so with gold, the present premium adding considerably to profits. Speaking of the gold mining industry in New Zealand, Mr Sinclair said he considered that the prospects for development were brighter now than ever before. Thirty years ago, he said, the gold boom had censed almost’ overnight, the arrival of refrigeration with the consequent opening np of lucrative markets for frozen meat having diverted people to agricultural pursuits. Competition among the primary-producing countries, however, was now very keen. Almost every country was producing something to compete with one or other of New Zealand’s products on the markets of the world, but very few countries had the natural wealth of gold which New Zealand had. What was more, the whole world was a market for gold.