LEAD AND ZINC MINING

Rotorua Morning Post, Issue 5311, 25 January 1947, Page 5

LEAD AND ZINC MINING

Big Company Formed In Commonwealth LONDON, January 24. Mr. John R. Govett, chairman of the Zinc Corporation, announced the deeision to form a new company called the Broken Hill Corporation, with a capital of £5,000,000 to extend iead and zinc mining at Broken Hill and the smelting, refining and manufacturing industries in Australia, the Australian mandated territories and the United Kingdom. The company's issued capital will be 1,000,000 4i per cent. cumulative redeemable preference shares of £1 euch, 2,000,000 ordinary £1 shares and 2,000,000 shares unissued. Alr. Govett defined the expansion plans as first to search for and develop where justified other mines in the neighbourhood of Broiken Hill and el.e where; secondly, to search in Australia and the mandated territories for oil and natural gas and develop the use of coal and othei* fuels; thirdly, to develop the manufactingindustries associated with the treatment of sulphur-bearing- ores and the production of non-ferrous metals; ■fourthly, to supply power and other maehinery for 'use in the Brolcen Hill field; fifthly, to provide research, technical, financial, commercial and transport services essential to the mining, smelting and manufacturing industries.