MINING INDUSTRY

Otago Daily Times, Issue 23517, 4 June 1938, Page 22

MINING INDUSTRY

A PROSPEROUS YEAR REVIEW BY MINISTER (Per United Press Association) HAMILTON, June 3 That the mining industry has had a satisfactory year was indicated by the Minister of Mines (Mr P. C. Webb) in an interview at Hamilton. For the year just ended the added output of gold registered was due to the increased dredging returns. A number of large dredges, involving a cost of £10,000,000, were under construction, and should be operating within the next few months The coal industry also showed an increased output, nearly all the mines working to full capacity The slack problem in the Waikato, by which 1,000,000 tons of coal were destroyed annually, had been solved, and the future of the. industry looked bright. As the result of last session’s legislation, prospecting for oil had gone on at a rapid pace All the areas applied for were granted. 'The New Zealand Petroleum Company (Taranaki) had already £70,000 worth of drilling machinery on the way to the Dominion, and drilling experts to operate it were expected within the next fortnight The company’s first hole would be drilled just out of Gisborne. Roads and accommodation were being provided, and the contractors were working day and night in readiness for the plant. The actual drilling should be commenced within the next two months, A number of geologists were also on the way to make a survey of the Taranaki areas.