THE MINING YEAR

Wanganui Chronicle, Volume 82, Issue 305, 24 December 1938, Page 8

THE MINING YEAR

COAL, OIL AND GOLD MANY' IMPORTANT MILESTONES PASSED [ Per Press Association.] AUCKLAND, Dec. 23. In a statement issued to-day, Hon. P. C. Webb, the Minister of Mines, says: “As the year draws to a close I derive some measure of satisfaction from the progress which has been made in our mining industry during the past twelve months. First of all the petroleum legislation passed by Parliament at the end of 1937 has proved very sound and has given a great impetus to the search for oil. Several major organisations with-the strongest financial and technical backing in the world have applied for and have been granted 1 ” oil prospecting rights over considerable areas. To date, licences have been granted for over 7000 square miles of territory and no less than thirty geologists and geophicists are at work in different parts of the country. The extent of this activity can be gauged when it is pointed out that this force of scientists is about three times as great as present personnel of the New Zealand Government Geological Survey Department. “Most up-to-date drilling plant is already at work near Gisborne putting down the first well for the New Zealand Petroleum Coy., Ltd. I am looking forward with the greatest of interest to possible developments in 1939.

“In the gold mining industry another important milestone was passed a week or two ago when two magnificent modern dredges commenced operations on the West Coast. These machines mark a new era in the industry and are forerunners of several similar plants now under construction. One of these dredges is the largest in the southern hemisphere and is thought to be the second largest in the world. The first return from these huge machines will be watched with the greatest of interest by the mining industry and investing public. “These developments on the west coast have been largely brought about by the Government’s action in making ample supplies of electric power available and by the construction of a transmission line over difficult terrain between Lake Coleridge and Westland. “In the coal mining industry, conditions have been satisfactory and I look forward with confidence to a greater production in 1939 and an expended use of our New Zealand product in our gas works and other fuelconsuming units.”