Snowballing

Concern Over NC's Snowballing Recession

From “PlM’s” Noumea Corresponden New Caledonia’s snowballing rec sion is giving many people cause worry. Export figures recently leased for the first eight months this year show that all exports < down except iron ore to Austra: which rose slightly.

THE value of exports for t] period compared with the sa period last year is 300 million frai (about £6,500,000) lower.

This results in a drop of 35 mill: francs (£175,000) in anticipai revenue in Customs duty, exp taxes, etc.

Figures for the next few mom are expected to be even more alai ing.

To add to the recession, American-owned Tiebaghi chroi mine is in difficulties. This mine, « of the world’s richest, has annoum that it is ceasing production and v only keep a staff of about 30 maintain mines installations.

The mine is situated near northern end of New Caledonia., was originally owned and develoj by British interests, but war de forced the British to turn it over' American interests, Tiebaghi’s career since then has i been a happy one. In 1957, the mi exported 60,000 tons of chrome wH in 1961 only 22,000 tons were sold The total tonnage for 1962 will : exceed 15,000 tons —most of it goc to France.

Russia, Turkey and Rhodesia produce at more competitive prii than New Caledonia —freight chan being a heavy burden on local o It is believed that France also trai a certain amount of nickel to Rus for chrome, chiefly to sell the nick A few months ago the Tiebaf company put off about a third of : working force.

The closing of the mine will only affect New Caledonia’s bud|l It will also paralyse a big part the north-west of the island, whr people largely depended on the mn for their livelihood.

A group of officials went to T baghi in September to study the sitt tion. The group included the chiefi the Mining Department and the spector of Labour.