THE MINING INDUSTRY.

Star (Christchurch), Issue 5989, 30 September 1897, Page 1

THE MINING INDUSTRY.

ANNUAL EEPOET.

TFBoai Our Correspondent.! WELLINGTON, Sept. 29.

The Mines Statement, laid on the table of the House by the Hon Ai J. Cadman today,, shows that the total production of gold and silver for the year ended Dec. 31 last was valued at a decrease of .£120,526 compared with the preceding year. Coal and other minerals wei?e valued at £862,224, an increase of .£36,00<!>. <0f the gold exported during the year, --Auckland contributed 93,8760z, Marlbofrough 7890z, Nelson and West Coast 74,0820z, Otago 88,166oz; total 256,9130z. The total outpnt of coal last year was 792,851 tons, an increase on the previous year of 66,197 tons. The largest increase was in Kawakawa and Hikurangi viz., 9000 tons, while Greymocth showed the largest falling off with a decrease of 4774 tons. The total export of coal for the year was 86,280 tons, A new feature is that 10,000 tons have been directly exported from Westport to San Francisoo, Valparaiso and othec ports on the west coast of America. Reference is made to the discoveries o£ opals: at: Tairua (Thames) and ' at Mount Peel (.Canterbury), ah&it is; stated that -applications have; been- made for six leases covering an aiea of 239 acres ; and that the "production of opals may yet become an important industry." The sum of .£44,771 was spent during the year on works for the development of the mining industry and .£IOB2 on schools of mines, exclusive of teachers' salaries. The Minister draws attention to the over capitalisation that has taken place in connection with placing mines on the English market, and urges investors to see that the working capital bears an adequate ratio to the amount of capital actually subscribed. In conclusion the Minister says that, to aid the further development of the mining industry, substantial grants will be required for prospecting, water conservation and deep level mining.