Misima In Production

In Early 1948

CUTHBERT’S Misima Goldmine Ltd., Papua, expects to start production in 1948 and to put through about 20,000 tons of ore in the first year. This will be at a rate approximately half that of pre-war. The machinery necessary for this rate of production is now awaiting shipment in Sydney or is being over hauled at Misima.

These facts were stated by Mr. T.

Nevitt, a director, at a general meeting of shareholders held in Sydney on April 28. Mr. Nevitt said further that staff on Misima was being increased each month but that shipping services from Australia were still far from satisfactory and that employees on Misima, were finding it diffi cult to get more than the bare neces sities of life.

In future the company would introduce mechanical means of working wherever possible in order to reduce the native labour force which was much less efficient under present conditions of indenture than it had been before the war.

War Damage and Army claims already paid to the company amounted to £72,314, the only claim now outstanding is for £5,406 in respect of deterioration of roads.

Moneys paid in compensation are expected to cover cost of rehabilitation and recon struction. Liquid assets of the company are at present £BO,OOO,