DEVELOPING MINERAL DEPOSITS.

Taranaki Daily News, 18 January 1922, Page 4

DEVELOPING MINERAL DEPOSITS.

The development -of the miineral resources of the Dominion is a matter of far greater importance than is generally credited. Such attempts as have been made in the past have been confined mainly to private enterprise as regards iron and petroleum, and have languished for want of capital. It is, therefore, encouraging to find that outside interest is being taken in the exploitation of both iron and petroleum, and that capital is ready to be used if satisfactory conditions can be arranged. As a matter of principle the development of the resources of the country is an undertaking that should long since have been entered upon by the Government, but such aid as Cabinet has given has been only a mere drop in the ocean as compared with the needs for thoroughly searching for these valuable assets. Already a Darlington firm of ironmasters has been negotiating with the object of converting the vast stores of Taranaki ironsand into iron and steel, the tests made having proved a complete success. It now appears that the Anglo-Scottish Finance Corporation is so convinced of the potential value of the kerosene shale oil deposits in New Zealand that it is prepared to invest the requisite capital for developing the industry. This is certainly good news, and every encouragement should be given to have these minerals, which are now practically useless, converted into a source of wealth. There is no question as to the excellence of the quality of both the iron and oil that has so far been obtained, and it would be a great factor in the prosperity of the Dominion if these minerals could be properly exploited and brought into marketable form. It is, therefore, to be hoped that in the near future the minerals will be a welcome addition to the products of the country.