MINING.

Otago Witness, Issue 3335, 13 February 1918, Page 22

MINING.

WEEK'S MINING NEWS

February 6. The secretary of the Nokomai Hydraulio &luioing Company reports that No. 2 had a full week's stripping off the top material, and good progress was made. No. 3 struck Wooiom. at a depth of 50ft. Owing to a F-jit team of sand being struck the elevator viis being removed to a fresh position. The returns for January practically complete the output of bullion for the year 1917 from the mines on the Hauraki Penin- •> eula. but fivm the fact that silver realises considerably more in London at the present tima than the value estimated at this end the actual cash returns should be correspondingly increased when the corrected figures are available. Including the January return, the total output for 1917 now stands at £741,534 7s Bd. This shows an increase upon the output for 1916 <bi £27,386 3s 3d. The returns for last month total £57.201 13a 9d, of which all but £3203 came from cranes in the .Ohinemuri County. Appended are detailed returns: —Waihi, 18,700 toas, £30,613;- Talisman Consolidated, 1030 tons. £11,340; Waihi Grand Junction, 6880 ton>, £12,045; Sylvia Reefs, 58 tons, £3203. Tofctl for January, £57,201. Total for 1917, £741,^3). February 7. The Rise and Shine No. 1 dredge has now made an opening into the river on the western boundary, and will thus be ready to move to the Athenaeum ground when the rirer is suitable. Meanwhile the present vut in the freehold will be worked. The No. 2 dredge is working tight and stony wash on a bottom of soft red reef. The cut was extended a little to the westward last week, but the centre of it gives the better prospects. The known supply of metals of the platinum group in the world is possibly 5,000,000 oz. Estimates based on the official figures of production from Russia since 1843, which are taken as 25 per cent, too low, and on the assumption that Russia has supplied 95 per cent, of the world's output, indicate that the total quantity of crude placer platinum produced in the world since 1843 has been less than 4,632,000 troy ■ oz, or ahout 159 short tons. Crude platinum contains, besides iron, small amounts of one or all of the metals iridium, palladium, osmium., rhodium, and ruthenium. It is difficult (remarks Dun's Review) to estimate the quantity of platinum in the world, but it is perhaps within reason to say that the platinum in the world's stock of metals of the platinum group amounts to 4,000.0000 z. The estimated world's production of crude platinum in 1913 was 267.233 troy oz. and in 1914 260,5480 z.. in 1915 143,1450 z, and in 1916 89,9320 z. In 1916 Russia produced 63,9000 z. as compared with 250.0000 z in 1913: Columbia, 25.00007. (15.0000 z in 1913); United States. 7500 z (4&>jz) : Canada, 60oz (50oz); Austral I '*!, Z-Zoz. (1500 oz). February 8. The Kao-tca dredge return for last week was 31sOZ To:- five days, three shifts being lost ropniring the screen. For the period ended January 26, representing 21 davs' crushing, the Waihi Companv treated ??.45 tons for £21,487, a decrease of £9119 compared with a longer period Inst venr. The total won from the mine is £11.860.108. ■ . February 9. Crushing returns from the Consolidated group of mines. Reefton, are as follows" for January:— Progress Mines: Crushed 1170 tons, value £1473: workinc expense, £1506; , and development, £241. Blackwnter Mine?: Crushed. 2300 tons; value, £4606.; working expenses, £2744; capital. £l2; development. £461. Wealth of Nations: Crushed, 860 tons: value. £812: working expenses, £1279; development. £lB2. According to an article in a Brazilian journal tho best known deposits of tung-

sten, in the form of wolframite, are found on the Paraopeba River, in fcho State of Minas Gereas, and also in the States of Bahia, Rio do Jansiro, Ceara, Rio Grando do Norte, and Parahyba. It is stated that a samplo of metal sent to Rio Janeiro from Rio Grande do Norte, and taken from the Serra Branca region, was so puro as to exceed the Portuguese wolframite in quality. No analysis ha 3, however, yet been made to determine itJ industrial value. In his unnual report to the Minister for Home and Territories, Dr J. A. Gilruth, Administrator of the Northern Territory, states, with regard to tho mining industry, that in tohe past four years £33.725 had been spent in monetary assistance to 33 mining propositions, but only 16 were still being worked. In addition two batteries for tho treatment of tin ore had be6ii erected, one costing £20,163 and the other £3294. Neither of these plants had yet been able to work more than one shift, which was not clue to the poorness of the field, but to the class of mir.ohok'er, who was iu many cases neither skilled nor persevering. Government prospecting parties did not seem to have been a success, but it might bo worth while to prospect thoroughly certain areas where hopeful indications had already been secured. Whilst mining was hopeful, thete was no reason to believe that it would do all that its advocates anticipated in solving the vexed question of tli6 settlement of the Territory. The Talisman Consolidated Company during January treated 920 ton 3 for a value of £ll,llO, an increase of £4094 over last year, when 783 tons yielded £6235. The total won to date, is £270,57.4. ' February 11. Tho Clonbiv.ane Gold and Antimony Company, near T e o?AS or.-i (Victoria), has been compelled to sell i's property and plant for about £4o'>, not bt-iv.use its efforts to obtain the antimony frocn Us rnme, but because it was impossible to find shipping to take the antimony ore away, or means for treating the refractory ores. The company has lost some thousands of pounds. Tho Queonstown (Tasmania) correspondent of the Mining Standard reports that with the closing of tho year he Mount Lyell branch of the Federated Waning Employees' of Australia ceased to ei'afc, having been merged into the Australian .Workers' Union, and in the futwra all union industrial matters in connection with mining operations on this field will be controlled and supervised by the latter organisation, which, it is stated, now numbers 100,000 members, making it the most powerful industrial union in tho commonwealth. The change is considered likely to make for more satisfactory conditions between the Mount Lyell Company and its employees in the mines and smelters than have hitherto prevailed. The leaders of the A.W.U., while they always staunchly protect the interests of their members, have usually managed to settle disputes . without resorting to the suicidal policy of "downing tools." Altogether, therefore, the absorption by the A.W.U. of the F.M.E.A. may be regarded, as far as the Lyell mining field is concerned, as being very conducive to the establishment of permanent industrial peace throughout the district.

February 12. The following cablegram has been sent to the head office in London of the Waihi Grand Junction Company: "Wo are crushing 330 tons per 24 hours; the extraction is £1 135." DREDGING RETURNS. The following returns have been reported for last week: — Oz. dwt. gr. Rise and Shine No. 2, Cromwell, 133 hours 39 9 0 Rising- Sun, Cromwell, 119 hours 27 17 0 Rise and Shine No. 1, Cromwell, two weeks (opening-out) 15 8 0 Olrig, Alexandra, week 7 10 0 Total ... 90 4 0 DUNEDIN STOCK EXCHANGE. There has been little movement in the local share market during the past week. In dredging stocks Electrics have been inquired tor at Is, and offered at Is 6d. Rise and Shines are to be had at £1 0s 6d, but there' has been no demand. Rising Suns arc wanted at 12s, and offered at 15s. In mining stocks Progress Mines are on offer at 7s 6d, but there are no buyers beyond ss. Ten shillings were offered for Talismans, on Monday, with sellers at 10s 9d, but Friday's buyers were quoting only 8s 6d with sellers at 10s 2d. U'ainis are firm at about £1 17s 6d, buyers quoting £1 17s, on Friday, and sellers £1 18s. Grand Junctions have weakened slightly, and were offered on Friday at 15s 6d without response. Mount Lyelis have been moving up, and have been responsible for a good deal of business during tho week. They changed hands on Wednesday at £1 9s, and on Friday a number of parcels were disposed of at £l 9s 6d and £1 9s 7d. The market closed with further demand at £1 9a 6d, and sellers holding off for £1 10s. Tasmanian Coppers are wanted at 5s lOd, but none are offering/ There was a buyer of Reid Roseberys at £1 0s 6d on Friday. In investment stocks National Banks are wanted at £5 ss. New issue Bank of New Zealands are sought after at £l7 4s, with holders asking 2s more. There is a demand for the old issue at £l2 ss. Union Banks, ex dividend, are w'anted at £53 15s, but none have been offering. For National Insurance up to £3 is offered, but sellers want £3 Is. There are buyers of ordinary Union Steams at £3 2s and of the preference issue at £1 Is. but there are no declared sellers. Huddart, Parkers have eased slightly. Tho ordinary issue was sold on Tuesday nt £l, 14s Bd, and more worn offered at that figure on Friday, but buyers did not go beyond £1 14s 4d. Tho preference issue was to be had at £1 Is. Westport Coals are quoted at £1 lis, and £1 Us 3d, for buyers and sellers respectively. Dominion Rubbers were on offer on Friday at £1 18s. and Milburn Limes at £1 Us. Mosgiel Woollens ure to be had at £4 19s, and £4 15s was offered for them. There was only 6d between buyers and sellers of NewZealand Drugs, for which £2 10s 6d was offered. Paper Mills are wanted at 19s 3d, Consolidated Denials at £1 2s 6d, and Perpetual Trustees at £1 ss. Ordinary Express Companys are on tho market at 19s 6d, and there is inquiry for Bruce Woollens at £1 83. Government War Loan stock was offered on Friday at £99 ss, buyers quoting £99. . Mount Lyelle seemed a shade easier on Monday, and woro offered in the afternoon at £1 10s 3d. with buyers at £1 9s 6d. For new issue of Bank of New Zealands £l7 3s was offered, and £l7 7* asked. Now Zealand Insurance shares woro inquired for at

£8 6s. For ordinary Huddart-Parke.rs £1 14s 4cl was offered, but -hoiJiors asked 5d more. Thore was Is &d ibeiwoen buyers and sellers of National Mortgages, which were offered at £4 2s- 6d. Inquiry was made for Papuan Products at £2 3s. For war loan debentures £99 2s 6d was offered, sellers quoting £99 7s 6d. The following are Monday's latest quotations, subject to the usual brokerage: DREDtjiNQ Stocks. Electrics—Buyers Is, sellers Is 9d. Riso and Shine—Sellers £1 Os 6d. Mining Stocks. New Sylvia—Buyers Is. Talisman Consolidated—Sellers 10s 3d. Waihi Grand Junction —Sellers 15s 6d. - Mount Lyell—Buyers £1 9s 6d, sellers £1 10s 3d. Feb. s.—Huddart-Parker (ord.), £1 14s 8d Feb. 6.—Mount Lyell, £1 9s (two parcels). Feb. B.—Mount Lyell, £1 9s 6d, £1 9s 7d (three parcels). " .Feb. 9.—Huddart-Parker (ord.), £1 14s 6d, New Zealand Refrigerating Company (new issue), £2 (three parcels). AUCKLAND STOCK EXCHANGE. AUCKLAND, February 11, The following business was recorded on 'Change to-day:—Sales: Bank of New Zealand (old), £l2 8s 6d. CHRISTCHURCH STOCK EXCHANGE. CHRISTCHURCH, February 11. The following business was recorded on 'Chango to-day : —Sales: New Zealand Farmers' Co-operative, £2 3s.