Australia To Develop New Guinea Timber
CANBERRA, Nov. 8 (Recd. Gpm).— The Commonwealth Government is to develop the timber areas in the Bulolo ’/alley. New Guinea, which recently were the subject of a Royal Commission. The Commonwealth, with Bulolo Gold Dredging, Limited, will form a joint company with a nominal capital of £750,000. of which the Government will hold a majority of shares. The company will produce plywood, vender and timber, r.nd will examine the practicability of exporting logs to Australia. The Minister of External Territories Mr. Ward announced today that negotiations were proceeding and that the conclusion of arrangements depended on approval by Bulolo shareholders and a favourable report from experts on technical and economic aspects. Sample logs had been sent to* Canada for testing and if the tests -jroved successful two plywood specialists from Canada would make a full investigation. The area is estimated to contain 200.000,000 super feet of hoop and klinki pine, and a smaller quantity of cedar and secondary timbers.
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Wanganui Chronicle, 9 November 1949, Page 5
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165Australia To Develop New Guinea Timber Wanganui Chronicle, 9 November 1949, Page 5
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