PROGRESS OF MINING.

King Country Chronicle, Volume VI, Issue 482, 13 July 1912, Page 7

PROGRESS OF MINING.

AN UNEVENTFUL YEAR

The annual statement of the Mines Department, presented to the House on Tuesday by the Hon. Jas. Colvin, shows that the value of the mineral output for the past year totalled £3,492,362, as against £3,774,898 for the preceding year the decrease being principally due to an impoverished zone encountered at the Waihi mine, where a decrease of £224,636 resulted. The value of bullion from our gold mines amounted to £1,948,369, as against £2,067,890 for 1910, while dividends declared by registered gold mining companies amounted to £504.795, in addition to a considerable profit from privatelyowned mines and dredges. The total output for the year totalled 2,066,073 tons, greater than for any previous year except 1910. Kauri gum to the value of £15,809,152 was exported up to the end of 1911, of which £395,707 worth was obtained during that vear. Mining development generally has been unimportant, with the exception of explorations for mineral oil at Poverty Bay, Taranaki, and near Lake Brunner, says the report. Drilling operations in Taranaki have been fairly successful, three flowing wells having been located. It is anticipated that very shortly the company will succeed in obtaining the second bonus of £2500,

The profit in the working of the State coal mines during the past year was less than that during the previous year, principally owing to the higher cost of production, but partly to diminished output. The briquette manufactory at Westport was closed down owing 'to the high cost of manufacture.

The Minister, in reviewing the state of the gold mining industry, remarks that the day of the individual miner is fast drawing to a close. The more easily won deposits have become or are becoming exhausted, and it is now to the geologist as well as to the engineer that we must look for the future development of the industry. There is, however, still great mineral wealth to be won, and abundance of opportunity for th« judicious investment of unemployed capital.