N. Z. COPPER MINING.

Poverty Bay Herald, Volume XIII, Issue 4490, 1 February 1886, Page 3

N. Z. COPPER MINING.

Nelson, Jan. 30. At the annual meeting of the Champion Oopper Mining Co. the balance - sheet showed £54,362 has been expended on the mine, including £19,983 for purchase of properties, and £1596 for road construction. Smythe and Franzen were re-eleoted directors, and Price, of Wakefield, was elected inplace of a director who had resigned. The mining manager, Carl Henreioh, who was obtained from America, where he had large experience, at a salary of £1000 a-year, gave a plain statement concerning the mine, which elicited hearty applause. He said he had 600 tons of ore from the United lode to crush and 400 tons from the Champion. He expected this 1000 tors would yield 150 tons refined copper. He said they could count on having 3000 tons of ore within the mine in sight, and that, though he could ■se into the earth no further than others, he had every reason to believe the ore went down beyond their present levels. If he did not believe it he should have not undertaken the work he had. He said the cost of roasting and smelting would be between 20s and 40s per ton. A hearty vote of thanks was accorded the directors for their past labors, and the shareholders appeared to be very confident as to the future.