MINES TO REOPEN

Poverty Bay Herald, Volume LXV, Issue 19785, 12 November 1938, Page 8

MINES TO REOPEN

WESTLAND GOLD & COAL FINANCE l'M!()M AUCKLAND Two West Coast mines—gold and coal—are to be opened again, after being flooded for many years. Capital has been raised in Auckland to finance the reopening of the mines, in whien work will be given for about 100 men. "Despite the oft-repeated statement that most New Zealand money is going to Australia, we have secured sufficient capital in the North island to pul two South Island mines, owned by companies of which I am managingdirector, into operation again," said Mr. E. T. Cox, a former Mayor of Dunedin and also a former Methodist minister at Gisborne. The gold mine was at Reefton, and was owned by Murray Creek Consolidated Gold. It was closed in 1920 because of the high cost of labour and the low price of gold. For 17 years the mine had been flooded. Since dewatering by the company a thorough survey of the levels had been made. A shaft of 150 ft. would be sunk, and two drives would be made to new bodies of ore. The coal mine, owned by United Brunner Coal Mines, Limited, was situated on the Grey River, six miles from Greymouth. It had been closed for many years. Mr. Cox said that reecsit surveys had reported a field o. approximately 0,000,000 tons of bituminous coal and deposits of fire clay. "Financial interests in Auckland responded freely to meet our requirements, and I was assured that Auckland has plenty of money available for legitimate South Island industries, sa'.d Mr. Cox.