Waihi's Gold Mine To Keep Going
AUCKLAND, Sept. 22. _ The -Martha g'old mine at Waihi is expected to continue producing until at least the end of next year. This is the result of the increase in the price of gold from £8 8s- fid to £12 4s 6d an ounce, which followed the devaluation of the pound. , It ; jwas -• announced . in June that the' Martha Gold' Mining Co. (Waihi) Ltd., would commence elosing the mine xmmediateiy beeanse it was uo longer economieal to operate. -.The local direetor and attorney of the company, Mr. J. H. G. Banks, said in Waihi today that a reassessment of the whole operating position was being made in the light of the increase in the gold price -and the directors • wpuld no doubt authprise; a continuance of operations until at least the end of 1950. Since the announeement that the mine was to close, work has been confined to the extraction of remnants of ore. .-Uowever, very few nien have been dismissed and only a small number have left of their own accord. The number of miners "employed is now about 85 compared with the normal strength of about 125. Mr. Banks said on Monday that the present number' would not be sufficient if normal. work was r(esumed.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHRONL19490923.2.8
Bibliographic details
Chronicle (Levin), 23 September 1949, Page 3
Word Count
213Waihi's Gold Mine To Keep Going Chronicle (Levin), 23 September 1949, Page 3
Using This Item
NZME is the copyright owner for the Chronicle (Levin). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in