IRONSAND

Taranaki Daily News, 18 August 1922, Page 5

IRONSAND

DEVELOPMENT PROSPECT#*. DEPOSITS IN TARANAKI. ' PLEA FOR ATTENTION. (From Our Parliamentary Reporter.) Wellington, August l(k. When the report on the experimellbß in the smelting of Taranaki was placed ibefore the House of Repre« sentatives to-day Mr. -S. G. SmlfK (Taranaki) urged the Government j give attention to the subject. It been proved, he said, that the ironaaad deposits were of enormous potential value. The of earlier attealml to develop the deposits had been i entirely to lack of capital. Experimarts had shown that pig-iron df very quality could be produced. Some reot experiments in Sydney had shown tfe gold and platinum could, also ha/j&j covered from the sands, which, were start! ed to contain enough wealth to pay * the national debt. Mr. Smith mentiß ed the offer that had ibeen made by J British company to develop the ire sands if a sufficient quantity of hydl electric power were made available. ® Taranaki people were developing poMrj but they could not supply the requilN*< menta of the company without Goysmi* ment assistance. Sir John Luke (Wellington North) paid tribute to the efforts made by the lata Mr. E. M. Smith to bring about the development of the iron industry in Havß Zealand. Iron recently produced at Bank para had been of a quality that could *ot be surpassed in any part of the wori<L He did not think there was any need fox the Government to engage in iron ifflilFt ing at Onakaka, as he understood the company operating there had capital enough. It had been stated that New Zealand could produce all the iron it needed, but requirements in New Zealand were so vaifedl that he did not think it possible for a local rolling-mill to compete successfully in all lines with the manufacturers abroad. Mr. R. Masters (Stratford) said that at Onakaka it had been proved that New Zealand could produce a first-grade pig-iron. The stage had been'reached, however, when the company needed more capital for further development Work. He suggested that the State should assist the conqiaaiee which were endeavoring to build up the iron-smelting industry. He did not propose a gift, hut a loan. If large-s&k development was made possible in New Zealand, the ores could be worked so economically that it would be very hard for outside manufacturers to compete. The Minister of Public Work* (tiu Hon. J. G. Coates) said that some time ago a scheme had been mooted under which a company would endeavor to smelt Taranaki ironsands by electricity generated with coal from the Mokara field. He wished to state that the Government scheme of developing electricity at Arapuni was to be carried out. The Government was prepared now to consider any large order for power “in bulk” in Auckland or Taranaki. The power would not be ready next day, but when supplied it would be at a price with which he did not think power max other sources could compete. Mr. Smith asked whether the Minister could promise that the power would be available within five years. Mr. Coates replied: I would not like to say within five years, but it will not be much over five years. It all depends on the amount of power that is required. The Prime Minister agreed with those who believed the country had a very valuable asset in the iron sands of Parapara and Taranaki Ho was confident that the smelting industry would eventually grow up. He had seen New 1 Zealand * iron sand smelted by electrfoity* Experts had informed him that afitemps to smelt such sand in aft ordinary blast furnace had not succeeded anywhere. He would rather see private enterprise developing the iron induatry than see the State attempt it. Privati enterprise was the more likely to et»ceed. He did not think it possible fop the Government to find money at cueu

a time for the assistance of companies endeavoring to build up the new industry. but the bonus on iron production was still available, and it was fairlyH substantial. He hoped the iron smelting in New Zealand would be a success*