THE IRONSAND INDUSTRY
Thb Minister of Mines, in hiß annaal statement, sayß:—There are, as yet, no farther developments with regard either to oar iron deposits in the Middle Island er to the immense quantities of ironsand on the Taranaki coast, but the present high price of . iron, combined with the growing demand for that metal, should lead to the attention of capitalists being directed to this colony as a suitable field for the establishment of smelting works on a large scale. With a view to encouraging the introduction of sufficient ■ capital for the erection of such works, the Government is prepare d to consider favorably a proposal based on the following lines:—"That a company shall be formed with.a capital of not less tban £2OO 000; that of this £200,000 £IOO,OOO shall be expends i in acquiring land?, erec'ing buildings and the necessary plant and appliances. This having been done, that the Government shall grant a bonus of £1 per ton on the fiiet 20,000 tons marketable iron or steel produced; that the iron or steel required for the colooy shall be taken from the company at a margin above the market rates rating beyond the colony, allowing freights.
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Bibliographic details
Taranaki Daily News, Volume XXXXII, Issue 204, 2 October 1900, Page 1
Word Count
198THE IRONSAND INDUSTRY Taranaki Daily News, Volume XXXXII, Issue 204, 2 October 1900, Page 1
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