DREDGING FOR TIN

Hokitika Guardian, 7 February 1929, Page 2

DREDGING FOR TIN

WAllil, COMPANY’S VENTURE. ! AUCKLAND, Feb. 5, That dredging of tin ore that will average one shilling per cubic yard is very profitable on large areas is the considered opinion of Mr E. G. Hanks, superintendent of the Waihi Gobi Mining. Company, who recently returned from the .Malay States, after investigating a number of tin mining propositions on behalf of the company. On Mr Banks's recommendation the Company, acting in conjunction with a Malay company, has acquired a dredging claim some hundreds of acres in extent. The property the company will work is situated on the island ot Puket, on the west coast of Siam about six miles from Tongkali Harbour. lielore recommending its acquisition to the Board of Directors in London, Mr Hanks bad the area bored and chock-bored to ascertain the probable tin measures contained on it. On bis return to the East last year Mr Hanks found that in spite of a heavy fall in the price of tin, the industry was in a flourishing condition. Tbe search for new properties, aiut the bringing to a productive stage of known areas was proceeding steadily. He is convinced that the prospects oi the tin industry in the Malay States and Siam are good. Increased production last year has not resulted in u very groat increase in the world’s stocks of tin, due to the fact that consumption has boon rising steadily. Mr Banks, after exhaustive investigation, is of opinion that tin will yield satisfactory profits with tin l price at £21)0 per ton. In his opinion more attention will he given in future to lode tin than has been the ease in tbe past. Touching on the winning of alluvial tin, Mr Banks said the tendency during the past few years has been to build larger dredges to handle greater quantities of gravel, and at greater depths. A modern dredge costs anything from £50,000 to £BO,OOO. tbe cost, depending oil its capacity, and the-depth to which it can dig. Many recently-constructed dredges are -wo-k----ing at depths exceeding /oft and t-uo nearing completion are designed to dig to a depth of 120 ft, and handle monthly a minimum of 150,000 cubic yards. The tin concentrates are smelted in the Federated Malay States. A very large percentage of the labour is performed bv Chinese coolies, who are paid' at the rate of 2s 4d (English money) per.day.