GOLD IN AUSTRALIA
BIG DECLINE IN OUTPUT. There has been an extraordinarily rapid decline in the output of gold in Australia. In five years the value lias fallen from £3,143,830 to £1,807,411. Ten years ago the value was £5,454,800. For many years Western Australia has produced more gold, than all the other States between them. On 1026 that State produced more gold than the rest of Australia is producing at the present time, the value in that year being £1,970,320 in a total value of £2,214,410. But the industry has slumped badly, the reason, according to those who are now seeking a bounty on gold produced in the Commonwealth, being the hugs costs of production, which makes the working the mines uneconomic. In 1918 1,273,187 fine ounces of gold, valued at £5,408,154 was produced in the- Commonwealth, 870,511 ounces being produced in Western Australia. Victoria was second in that year and has maintained relatively her position ever since. New South Wales has dropped far behind the other States. In 1918 this State produced 87,504 ounces, valued at £369,743. Five years ago the output had dwindled to 19,422 ounces, and last year production in New South Wales was only 7469 ounces, valued at £81,842.
Thf production of fine gold in Australia Inst year was ■ only 425,500 ounces—about 33 per cent, of the pro-, duction a decade ago, As a matter of fact the slump in mineral production has not ‘been confined to gold. Satistics shqw that taking all min. erals into consideration there has been a steady decline in production over the past five or six years, and in many respects this has affected Now South Wales more than any of the other States. It is of interest to note, though, that Australia has produced fabulous sums in, mineral values. At the beginning of last year the total value had approached the amazing figure of more than £1,200,000,000. The Government had not yet given any decision in regard to the request that has been made for a bounty of £1 an ounce on gold produced within the Commonwealth.
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Hokitika Guardian, 30 August 1930, Page 7
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347GOLD IN AUSTRALIA Hokitika Guardian, 30 August 1930, Page 7
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