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This newspaper page contains 13 articles. Subscribers can read the full text of each article.
Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jan 29, 1970
Page
14
Wool selling centres at Goulburn and Newcastle must adapt to changes in wool handling and selling to remain viable as wool selling centres.
Tokyo reports Comalco of Australia and two leading Japanese aluminium smelters signed a 268 million dollar deal to export 50 million tons of bauxite from Comalco's Weipa mine over 25 years starting 1976. The arrangement could accelerate Weipa expansion and affect wool centre dynamics in Goulburn and Newcastle.
Mary Kathleen Uranium Ltd completed engineering studies to assess reopening options for its Mary Kathleen Queensland plant. A computerised orebody data study guided extending the lowen cut when operations resume. Costs for this work and asset maintenance totaled 355233, funded by a transfer from reserves. Net profit preliminarily 173366. Annual meeting scheduled March 19.
The world will require as much petroleum in the next 10 years as it has consumed in the past 110 years, signaling a massive sustained demand across industries and markets globally.
Registrations of new motor vehicles in Australia for December totalled 41,289, up from 37,205 a year earlier, with a seasonally adjusted 40,204. The rise occurred in all states except Tasmania, which showed only a marginal difference, while Canberra registered 450 versus 406 in the prior December. The figures were issued by the Statistics Bureau yesterday and note November’s figure remained higher by about 700.
Kempthorne Mis tral Ltd reported sharply higher net profit and turnover for the six months to December 31. Chairman A Grimwade said the results suggested a strong outlook for the second half. Selected Securities Ltd, Sydney based, was noted as part of the report.
Aquitaine Ltd seeks NZ25 million private placement to fund its Tasman Bay offshore well set to begin drilling by mid next month. Half-year after tax profit rose to NZ653,000 from NZ499,908, with a six month turnover of NZ21.7 million. Interim dividend boosted by a one for four bonus issue, while orders and earnings reflect rising costs and strong group turnover in a buoyant market.
Australia faces a booming economy with 6 percent growth and rising wage and dividend payments. The piece analyzes balance between supply and demand, weak retail sales growth, strong government spending, and rising production, while noting inflation risks, productivity gains, and uncertain unemployment versus vacancies. Potential political pressure on Mr Gorton for a state handout is discussed.
Australian companies with U S branches urge policy changes to extend six month business visas. Spokesmen cite unequal treatment versus US travellers, discuss possible permanent residency avenues, and note potential treaty or congressional steps. Companies Flick and Northumberland Insurance push coordinated action, amid nonbinding talks and state cooperation hurdles.
Sukiyaki heads toward a national dish shift as C Itoh and Company and Suchira Shokuhin KK announce a cattle fattening project with F J Walker. The venture aims to fatten 300 to 400 bulls of Hereford, Shorthorn and Aberdeen Angus breeds to about 550 kg in six months, per company spokesmen.
London dealers report heavy trading and rising prices on the London Metal Exchange as Communist China’s purchases push nonferrous metals higher. Analysts cite large but opaque orders and complex trades, with some suggesting stockpiling or shifting sources to offset Western financing.
Japan and West German yards led a record shipbuilding year with Lloyds data showing Japan had 5,446,744 tons under construction and 15,590,110 tons on order backlog. Total new ships launched reached 9,384,000 tons, far surpassing ten years ago. Marubeni and Nissho-Iwai topped Japanese output, while Britain remained a large buyer as production plans expand amid growing demand for ships and related machinery.
Japanese firms and Australian interests reach broad agreement to double projected joint industrial salt production in Western Australia to 1,200,000 tons annually, announced by Marubeni lida Ltd. The deal expands cross border production plans amid rising demand for salt products.
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