OUR MINERAL WEALTH.

Gisborne Times, Volume XXVI, Issue 2257, 31 July 1908, Page 1

OUR MINERAL WEALTH.

ANNUAL MINES REPORT. ' i

[Special to "Times.”] WELLINGTON, July 29

Tho annual report of the Depart* meat presented (to Parliament today states that although 'there nas a falling off in the gold yield last year there were indications that would bo made up during tho prosont year. The gross value of all minerids produced during 1007 amounted to £8,775,835, being £OO,-lob lesd than during 1000. This decline w cmtirolv confined to tho yield 1 1'oin tho alluvia'! gold mines, tho production from all other branches of mining showing' an increase. Tho quantity of gold entered for export was 508,2100 z. valued at £2,02/,490, a decrease of £243,414 as compared with tho export returns for tho previous year. The value of other minerals, including silver, coal, and kauri gum produced during tho year was £1,748,845, an increase' of £147,258 as compared until the product-, ion during 1906. Tlio total value of gold, silver, coal, and other minerals (including kauri gum) produced up to tlio 31st December 1907, was £100,523,086. Tho quantity of gold for export through tlio customs for the year 1907 was as follows Auckland 298,1 Oloz.; Nelson 46880 z.; West Const 870690 z. ; Otago and Southland 118,3520 z.; total 508,-, 210 oz. valued at £2,027,490. • The re-; port states that during 1907 the quartz mining companies paid in dividends £628.860, equivalent to 40.7 per cent, of the value of tho bullion won by thorn which, with one except- 1 ion, is 'the highest proportion so paid in any country. The Wnihi Gold Mining Company declared during the year £396,726 in dividends, as tho result of treating 356,974 tons of ore for a return of £826,010. The total dividends paid by this company to tho end of 1907 amounted to ‘£2,693,274. The Wailii Grand Junction Gold Mining Company paid in dividends £71,742 as the result of treating 40,875 tons of ore. Tho Talisman Consolidated Mine had been tho most successful, tlio production for tho year being £184,446 from 46,025 tons treated at tlio high •average value of £4 0s 2d per ton, and £75,000 was declared ill dividends. On the Thames Goldfield there had been a decline in tho gold production duo to practical exhaustion of many of the most important mines above water-level. It was satisfactory to report, however, that a commencement had been made in deep sinking operations from the Queen of Beauty pumping shaft, by the May Queen' Company. Owing to the central position of this shaft these operations, when completed, would enable the whole of the valuable area from which, bullion to tho value of between' £7,000,000, and £8,000,000 sterling had been won, to be made easily accessible at the lowest levels by moans of cross-cuts of inconsiderable length from the Queen of Beauty shaft.