B.H.P. AT DEEPDALE
Development Deferred
(N.Z. Press Assn.—Copyright* PERTH, June 6.
Broken Hill Pty. will defer the development of its Deepdale iron ore reserve if the proposal for four mining companies to combine-to develop Mount Newman Iron’s big deposits of high grade ore at Mount Whaleback is finalised.
The companies involved in the new joint venture proposals are 8.H.P., Cliffs Western Australia Mining, Colonial Sugar Refining and American Metal Climax. Consortium ’ B.H.P.’s chief general manager (Sir lan McLennan) said in Melbourne today that the ore B.H.P. would acquire in return for its investment in the consortium would be shipped mainly to the Eastern states in place of ore from Deepdale deposits. B.H.P. would not take part in initial exports, contracts which had already been negotiated, but the company would not be excluded from any future contracts. The company could not simultaneously develop Deepdale and help with the Mount Newman project, so it had decided to aid the Mount Newman plan first. The latest proposals would not affect the development of Koolyanobbing, which was continuing as planned.
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Press, Volume CVI, Issue 31080, 8 June 1966, Page 21
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176B.H.P. AT DEEPDALE Press, Volume CVI, Issue 31080, 8 June 1966, Page 21
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