GOLD, COAL AND OIL

Taranaki Daily News, 17 September 1934, Page 7

GOLD, COAL AND OIL

DOMINION’S PRODUCTION.

HIGHER VALUE OF BULLION.

Wellington, Sept. 14.

The value of the bullion produced in New Zealand during 1933 showed an increase of £79,765 over the previous year, due to the higher price for gold, according to the Mines Department Statement, presented to Parliament today. Last year’s production amounted to 592,2470 z., valued at £1,099,579, a decrease in quantity of 136,8990 z., but an increase in value of £79,765, as compared with the previous year. The gold content of the bullion for 1933 is estimated at 161,7550 z., valued at £1,063,543, compared with 166,3540 z., valued at £874,734, for 1932.

The value of minerals exported, including kauri gum, and of coal used in the Dominion, amounted to £3,151,807, compared with £2,883,211 during 1932. The total value of such minerals exported to the end of 1933 amounted to £185,091,367. The amount of goldfields revenue received and payable to local bodies during the year ended March 31, 1934, was £19,380, an increase of £3557 over the previous year. During the same period the duty on exported gold amounted to £129,820, of which £8177 was credited to the accounts of the local bodies. The special export duty of 12s 6d an ounce amounted to £117,090, which was paid into the Consolidated Fund. An indication that the increased interest in the mining industry is being maintained is given in the number of licences for mining privileges granted during the year. These totalled 3093, as compared with 1982 for the previous year and 1276 for the year before that. Of the total issued for the year ended March 31, 1934, 554 were licences for claims authorising the holders to mine for gold, 271 more than for the year before.

The production of coal showed a decrease ct 20,764 tons for the year, amounting to 1,821,258 tons.

During the year one company was actively engaged in boring for oil in the Dominion, the aggregate depth bored in two wells being 3128 ft. A production of 169,675 gallons of oil was obtained from Moturoa Nos. 1 and 2 wells at New Plymouth. The Dominion’s total production of crude petroleum oil to December 31, 1933, was estimated at 2,067,464 gallons.