Over £2,000,000

New Guinea's Gold Production in 1938-9

From Our Own Correspondent WAU, July 8.

IN the year ended June 30, 1939, the gold output of the Morobe Goldfield was a record, and exceeded in value £2,000,000 (Australian).

The actual figures, at present, are 391,- 026 ounces, valued at £2,041,317, but this may be increased eventually, by about £BO,OOO, owing to the rise in gold values.

The Territory’s administrative revenue, enjoying a royalty of 5 per cent., will benefit by over £lOO,OOO.