GOLD

Hokitika Guardian, 24 February 1927, Page 4

GOLD

AUSTRALIAN YIELD. Returns of the Australian gold yields in recent years have shown that the output of the mines has fallen off considerably. Figures relating to 1926 disclose that the drift in the yield has been less marked than in the last few years. The need for the discovery of new fields to revive the industry in the Commonwealth has been recognised, and the recent developments in NewGuinea have been followed with more ■ than ordinary interest. Already shipments of gold from that source, approximating 30,0000 z. have been received in Sydney. 'These are not included in the Commonwealth returns. Since the cessation of operations at the Mount Morgan mine in Queensland pro-: dilation of gold in that State has fallen ! to very small proportions, that of 1926 at OCSOoss fine, contrasting with 44,332 ox for 1925, and 95.7030 z for 1924. The total yield of the Commonwealth for the twelve months was 514,49207 fine, compared with 553,4480 z for the preceding term, ora decrease of 30,019-! o/, fine. Owing to high cost of opera-’ tions / brought about by high wages and heavy duties on essentials, the goldmining industry throughout the Commonwealth is being carried on under favourable conditions. In AVestern —ustralia this has meant that selected ores have had to be drawn upon freely, thus curtailing the life of the mines, and the gradual cutting-out of the higher grade ores will continue unless conditions arise which will permit the lower grade material to ho profitably worked. The following is a comparison of yields for Australia for the last three years:— 1921. 1925. 1920.

0z flue. Oz fine. Oz fine. Victoria Xeiv South 07.167 47.296 49,073 Wales 18,685 19,422 19,435 Queensland Western 95,703 44,332 9,036 Australia 483,035 440,818 437,343 South Australia 787 780 7S0 Tasmania 3,450 2,800 3,707 Total 670.827 555.448 519,429