MINING.

Otago Witness, Issue 3330, 9 January 1918, Page 22

MINING.

WEEK'S MINING NEWS

January 2. The returns from the Auckland district gold mines, reported during December, totalled' £31,833, compared with £33,312 in December, i 916.

The value of minerals produced in Tasmania during the quarter ended September 30 was £418,041, as compared -with £382,433 in the previous quarter, and with £368.191 in the September quarter of 1916. The quantities of the various metals produced in the third quarters of this and last year compare as follows, last year's figures boinsr those in parentheses :—Gold, 4604.11 (4015.79) fine oz; silver-lead ore. 2394.38 (2902.1) tons; blister copper, 1526 (1572) tons; copper and copper ore, 115.9 (39.8*) tons; tin ore. 711.43 (833.94) tons: coal. 17,740 (16.693). tons; wolfram, 34.38 (23.54) tons; bismuth. .9 (1.15) tons; shale, nil (336- tons); iron pvritcs, 1214.418 (3348.545) tons ; scheelite. 29.7 tons (nil); barytes, nil (57 tons); osmiridium, 118 (37.05) oz • asbestos, 100. (15). tons; zinc, 24 tons (nil). The number of men employed in the industry in all the mining divisions of the State was 4051 last quarter, as against 3988 in the corresponding quarter of last year.

January 3. The mine superintendent of the Waiotahi Gold Mining Company reports that good dabs of gold have been seen in stoping in the leader from the surface level. The actual return won from the recent crushing of 17 tons of quartz and 201 b of picked stone was 118 oz lldwt of melted gold, valued at £323 10s 9d.

The gold yield of Queensland for No vcmber shows a further decrease, both in quantity and value. The output was 9978 fine oz, valued at £42,384, compared with 14,185 fine oz, valued at £60,254, in November, 1916 s—a decrease of 4207 fine oz and £17,870 value. The yield for 11 months amounted to 160,137 fine oz, valued at £680,219, as against 204,567 fine oz, valued at £868,945, for the corresponding period last year. The dividends paid during the past 11 months amounted to £242,690, as compared with £228,552 in the corresponding period last year.

January 4. Tlie New South Wales gold yield for November was 69030 z of fine gold, valued at £29,323, compared with 72430 z, valued at £30,765 for the same month in 1916. For the 11 months of the year the yield was 77,8130 z 6f fine gold, being a decrease of 41020 z from the yield for the same period of 1916.

A comparison of metal prices quoted in London at the end of November with those ruling immediately before the war, shows the following results, the pre-war figures being those in parentheses:—Electrolytic copper, £123 (£61); standard copper, mean spot and forward, £llO (£57 7s 3d); tin, spot, £291 2s 6d (£132 ss); 'three months, £238 5s (£135 ss); lead, £3O 10s (£lB 15s); spelter, £54 (£2l 15s); standard silver, 3s 6|d (Is llfd) per ounce.- It 'must not be forgotten, however, that in some cases present prices have been, in the meantime, very much exceeded, as, for instance, copper at this date in 1916 went as high as £153 ss, and averaged £145 9s 2d throughout December, 1916. while in February, 1916, spelter went to £llO per ton. On the other hand, the extraordinary rise in tin values occurred entirely last year, the £2OO mark having been reached for the first time during the first week in February.

January 5. The gold mines in the Auckland district showed returns for the past month totalling £31,832 13s 9d, as against £33,311 12s 4d for December, 1916, a decrease of £1478 18s 7d. The details are.—Waihi Grand Junction, 8920 tons, £15,389 15s 9d; Talisman Consolidated, 1150 tons, £12,219 7s 3d; Waihi-Paeroa,' 13,500 tons tailings, £3900; Waiotahi, 17 tons 2.01 b picked stone, £323 10s 9d; total, £31,832 13s 9d.

The ore reserves of the King Island Scheelite Company (Australia) are estimated at 76,009 tons of 1.1 per cent tungstic acid, and it is hoped that large additional tonnages will be added to this amount. After paying the iiret dividend of Is, amounting to £6OOO, there was a profit of about £7OOO on the half-year's operations. .

January 7. A return of 320 z 18dwt of gold for 70 hours' dredging' is reported from the Rising Sun dredge, Cromwell.

January 8. The gold output of Western Australia for November amounted to 80,641 fine oz, valued at £342,54-1, as compared with 88,337 fine oz, valued at £375,235, for November, 1916, the decrease being 7696 fine oz, and £32,694 in value.

The Scientific American says that the Slociete Le Fer, in France, has succeeded in producing electrolytic iron on so large a scale, in retorts absorbing as high as 20,000 amperes, that the Bouchayer and Viallet Works, at Grenoble, which hold a concession of the society's patents, have already commenced the manufacture of pipes of large size from electrolytic iron. These are 4 m. long, 100 to 200 mm. in diameter, and 1.5 mm. in thickness (13ft long and 3.9 to 7.Bin in diameter, .06in thick). These tubes are employed for various industrial purposes, such as conduits for water, steam, or compressed air. They have given entire satisfaction in practical use. Such a tube of electrolytic iron is said to joossess the same strength as a tube of cast iron 20 'times' as thick.

THE SCHEELITE INDUSTRY.

GRIEVANCES OF NEW ZEALAND MINE-OWNERS.

Those who have invested capital in promoting the scheelite mining industry in New Zealand are complaining bitterly of the unfair treatment meted out to them by the Imperial authorities. Appeals for justice have been made repeatedly, and the Parliament of New Zealand was petitioned. But it was late in the session when the question was discussed. Scheelite and the allied ore wolfram yield tungsten, which- is used for hardening special steel. It is sold at per unit (that is, per 1 per cent.) of tungsten. A ton of scheelite_ contaming 65 per cent, of tungstic acid is reckoned at 65 units. Before the war Gc-rnmny was practically the only buyer, and about seven or eight years ago one mine in New Zealand obtained about £2OO per ton for a while, and at the same time the company was offered" £50,000 cash from Krupps for the mine. In August, 1915, the New Zealand mines received an offer of £2l? per ton for 65-unit ore; but the Irnperial Government intervened, an embargo was placed on private shipment, and the New Zealand Government asked to arranged to purchase _ at about £l7B 15s per ton, Representations- wore made but th? offer was practically an ultimatum. A't the end of the year another attempt was made to got a bettor price, as the cost of production, such as labour and material, had increased greatly. In reply it was argued that if more was paid for New Zealand ore the price would have to be raised to others: bu't it is pointed out that a great portion of the tungsten used comes from Portugal, for which £3OO per ton is paid. Cablegrams have been repeatedly sent Homo, but these have boon mostly ignored. The Now Zealand mine-owners allege that while the Imperial Government will not pay a fair price for their scheelite, it allows extraordinary .scope for profits in Enprlanrl. The manufacturers pay about £3OO per ton for raw material from which t-ungeten powder is made, and tho'latter brings them £7OO. Gables sent by the Prime Minister and the Minister of Minos have not moved the Imperial authorities. The New Zealand mine-owner? say that tho price given by tlio' Imperial Government is unprofitable, and the scheelite is hold in the hope that a better price may be obtained. Meantime a local industry is hampered, and the New Zealand Government is losing considerable revenue. The mine-owners hope that by ventilating their grievances through the press they may receive justice.

SOUTH AFRICAN MINING. j annila l report of tiio Department of a Mines and Industries of the Union of South n Africa for 1916 shows the total value of e minerals produced as £50,595,359, which exe coeds the output of 1915 by £7,062,350, 0 the chief increases being:—Diamonds, •fc £5,323,581; gold, £551,835; coal, £597,186; copper, £95,066; asbestos. £47,171; salt, » £24,214; and antimony, £13,187. The out- " put of diamonds in 1915 was worth only 0 £399,810, and the resumption of washing 11 operations early in 1916 on tho principal '- diamond mines, and tho subsequent rerl starting of mining, together with larger s output from alluvial, resulted in the prot duction of stones to a total value of a £5,728,391. Tho report states that the 1916 1 carat prices were the highest since the 2 Union. Tho gold output also (£39,490,990) s was tho largest since the Union, the in- - crease being-attributed to the mines of tho Boksburg district of the Witwatersrand. With respect to coal (£2,739,665), all proJ vinces except the Capo showed increases, J both in tonnage sold and price per ton ob--1 tamed. In tho Cape Province the sales def creased, but the price increased a little | over 2d per ton. Tho £95,000 increase for j copper was due mainly to higher prices, K but about 10 per cent, more was shipped from the Transvaal than in 1915. A number 1 of new producers of asbestos have appeared, ' chiefly in the Capo Province, and the quan--3 tity produced increased from 138.473 tons 3 in 1915 to 4665.837 tons. The tonnage of 5 antimony purchased was 721.662, as com--1 pared with 89,669 tons in 1915, but the • price remained almost unchanged, and Mr * R. N. Kotze, the Government mining engineer, doubts whether the improvement in--5 dicated will continue, as in December there '■ were only two concerns producing. MOUNT MORGAN COMPANY. ; BRISBANE, January 6. ! The surplus for the half-year in the ' Mount Morgan Company is £124,844, and a ■ dividend of Is per share has been declared. ; . DUNEDIN STOCK EXCHANGE. The Dunediir Stock Exchange re-opened on Monday, and business was quiet although prices were generally well maintained. There was an offer of £5 2s 63 for National Banks (ex div.), and Bank of New Zealands (new issue) were on the market at £l7 ss.' New Zealand Insurances wore in demand at £7 18s 6d and Standards at £2, and" Nationals were on offer at £3. Coal shares Mere firm. There was a buyer of Huddart-Parker ordinary shares at £1 12s 4s, but sellers wanted £1 13s. Waihi mining shares were- wanted at £1 16s 6d, with a seller at £1 18s. Mount Lyells (ex div.) had a buyer at £1 6s 6d and a seller at Is more. The following are Monday's latest's quotations, subject to the usual brokerage: — - Dredging Stocks. Electric —Buyers Is, sellers 2s. Rise and Shine —Sellers £1 Is 6d. Mining Stocks. New Sylvia—Buyers 4d. Talisman Consolidated—Sellers lis 6d. Waihi—Buyers £1 16s 6d, sellers £1 18s. Waihi Grand Junction —Buyers 15s 6d y sellei-s 16s 3d. Mount Lyell (ex div.)—Buyers £1 6s 6d, sellers £1 7s 6d. AUCKLAND STOCK EXCHANGE. AUCKLAND, January 7. The Stock Exchange has reopened after the holidays. Sale: National Banks, £7 4s. LONDON SHARE MARKET. LONDON, January 3. Bank of Australasia, £ll4 15s; Bank of New South Wales, £35 15s; National Bank of New Zealand, £5 2s 6d (ox dividend); Bank of New Zealand (4 per cent, guaranteed stock), £79 lis 6d; New Zealand loan debentures, £69, £6B 10s (ex dividend).