Christmas Islands' Phosphate Secured for New Zealand

Grey River Argus, 4 October 1948, Page 8

Christmas Islands' Phosphate Secured for New Zealand

P.A. WELLINGTON, October 1. The New Zealand and Australian Governments have reached an agreement to acquire jointly the phosphate deposits on chrismas Island as from December 31 next when the interests of the company now operating the concession will be taken over for £2,750,000. Announcing this to-day, the acting Prime Minister, Rt. Hon. W. Nash, said that the New Zealand and Australian Governments had for some time been considering the possibility of acquiring rights to the large phasphate deposits on Christmas Island, situated near Java and 1,400 miles from Fremantle. Next to Nauru, these deposits constitute the largest reserve of high grade phosphate known. The concession to work the phosphate at Christmas Island had been held since 1897 by the Christmas Island Phosphate Company Ltd., a private company incorporated in England. Recent negotiations between Mr. Harold Gaze, general manager for the British Phosphate Commissioners, acting under authority of the two Governments and Mr. G. H. Vinen, chairman of the company had resulted in an agreement as stated. The transaction is subject to ratification of the contract by both Governments and by the company in general meeting. The propertv will be vested in an authority to be appointed by the New Zealand and Australian Governments and the phosphate will be distributed bv the British Phosphate Commissioners in conjunction with the supplies from Nauru and Ocean Islands to meet the agricultural requirements of New Zealand and Australia. NAURU SUPPLIES rMr. Nash said that the phasphate from Christmas Island, which is at present being purchased by British pnospiiate Commissioners uncle? ai. ordinary commercial supply contract, will continue to be delivered to the nearest fertiliser works in Aus Liana, principally in Western Australia, thereby releasing a correspondm,; tonnage of phosphate from Naiu-u and Ocean Islands for delivery in New Zealand. The supply of ground phosphate from Christmas Island tc Malaya will be continued under th<: new authority. Mr. Nash said that Nauru ana Ocean Islands still contain about 87,000,000 tons of phosphate, lit Christmas Island deposit is conservatively estimated at approximately 3(1,000,000 tons and will form a very important and useful addition to the phosphate resources of Australia and New Zealand which are already using about 1,250,000 tons of phosphate annually, with every prospect of a considerably increased consumption in years to come.