GOLD MINING REVIVAL

Sun (Auckland), Volume IV, Issue 1024, 15 July 1930, Page 14

GOLD MINING REVIVAL

PROPOSALS IN DUNEDIN POSSIBILITIES OF INDUSTRY Press Association DUNEDIN, MondayA number of local business men, realising that the revival of the go]d mining industry in the Dominion would bo of immense advantage, not only to the Government but also to the community, recently- discussed with the Otago and Southland Goldmine Owners’ Association the question of evolving a means by- which the industry in New Zealand could be stimulated. It was stressed at the meeting that the standard price of gold, which was fixed as far back as ISI6, had remained unaltered ever since, whereas since 3 914 prices of other commodities had risen to an extent which meant that the value of gold had actually depreciated, while it remained at a price which made its production unremunerativd and in a number of cases practically prohibitive. In the past gold had been found in localities where it was easily won, but there were in New Zealand areas containing almost inexhaustible low-grade goldbearing deposits, which by modern methods could be profitably worked, if financial assistance were given to such ventures by the Government.

In view of this, and also of the fact that a similar move was recently made in Australia, the meeting decided to go farther into the question of representing to the Government the necessity for encouraging, by a bonus or otherwise, the exploiting of the vast gold resources of the Dominion. When suitable proposals have been formulated and duly considered it is the intention of the interested parties to approach the Government and lay their suggestions before it.