CHRISTMAS ISLAND PHOSPHATE NATIONALISED

Chronicle (Levin), 2 October 1948, Page 7

CHRISTMAS ISLAND PHOSPHATE NATIONALISED

WELLINGTON, Oct. 1. The New Zealand and Australian Governments have reached an agreenient to acquire jointly the phosphate deposits on Christmas Island as from December 31 next wlien the interests of Ihe coiupany now operat-ing the concession will be taken over for £2,750,000. Announcing tliis todav the Acting Priine Minister (Mr. Nash) said the New Zealand and Australian Governments had for somo time been considering the possibility of acquiring tlie rights to the large phosphate deposits on Christmas Island situated near Javu and 1400 miles from Premantle. Next to Nauru these deposits constitute the largest reserve of hig'h-grade phosphau kuown. The concession to work the phosphaL-. at Christmas Island had been lielil sinct 1897 by the Christmas Island Phosphat Company, Ltd., a private company ui corporated in England. Eecent negotia tions between Mr. A. Ilarold Gaze general mauager for the British I'hot? phate Coinmissioners acting under tln authority of the two Governments, ams Mr. G. H. Viuen, chairman of the eoia pany, had resulted in the agreement a stated. The transactiou is subject to a ratifieation of the contraet bv botl Governments and by the company i.. general ineeting. The property will b vested in an authority lo be appoiutei: by the New Zealand and Australian Government aud the phosphate will be distributed by the British Phosphate Coinmissioners in conjunction with sup|>lies from Nauru and Ocean Islands to meet the agricultural requirements of New Zealand and Australia. Air. Nash said phosphate from Christmas Island wliiclt. 15 -Sh present being purchased by the; British Phosphato

1 . - - — Commissioners under an ordinary commercial supplv contract will continue to be delivered to the nearest fertiliser works in Australia, principallv in Western Australia, thereby releasing corresnonding tonnage of phosphate froin Nauru and Ocean Islands for delivery in New Zealand. The supply of ground phosphate from Christmas Island to Malaya will be continued under the new authority. Air. Nash said Nauru and Ocean Islands still contain about 87,000,(){)H tons of phosphate. The Christmas Island deposit is conservatively estimated al approximately 30,000,000 tons and will form a very important and useful addi tion to the phosphate resources of Austvalia and New Zealand wliich are alreadv usiug about 1,250,000 tons oi phosphate annually ' vcith every prospect . of a Gonsiderably increased consitmption in ihe years to come.