• Short Summary

    FORTY YEARS AGO THE GOLDFIELDS AROUND WAU PRODUCED NEW GUINEA'S RICHEST PRODUCT. THEN THE SECOND?

  • Description

    FORTY YEARS AGO THE GOLDFIELDS AROUND WAU PRODUCED NEW GUINEA'S RICHEST PRODUCT. THEN THE SECOND WORLD ENDED THE BOOM. THE PRICE OF GOLD SLUMPED AND PRODUCTION COSTS INCREASED ENORMOUSLY. WITH THE BIG COMPANIES REDUCING THEIR OPERATIONS, THE MOROBE DISTRICT IS NOW LEFT TO A FEW HUNDRED NATIVE PROSPECTORS AND SMALL MINING CONCERNS.

    THE NATIVE GROUPS BOUGHT OUT THE EUROPEAN CLAIMS AND ARE WORKING ON IN THE HOPE THAT GOLD CAN ONCE AGAIN BECOME NEW GUINEA'S TOP MONEY EARNER.

    THERE'S REPORTED TO BE A LOT OF GOLD LEFT, BUT IT'S ONLY WORTH A FRACTION OF ITS VALUE IN THE 1930'S. IT'S BEEN ESTIMATED THAT THE NATIVE MINERS EARN MORE THAN 170,000 DOLLARS A YEAR BETWEEN THEM. THEY HOLD MINERS' RIGHTS AND WORK REGISTERED CLAIMS.

    MOST OF THE GOLD IS NOW OBTAINED BY SLUICING METHODS. THE COMPANIES THAT OPERATED THE BIG DREDGES HAVE CLOSED DOWN OR TURNED TO THE TIMBER INDUSTRY. ANNUAL PRODUCTIONS FIGURES FOR THE WHOLE OF NEW GUINEA CLEARLY ILLUSTRATE THE DECLINE IN OUTPUT FROM 300,000 OUNCES IN 1940 TO LESS THAN 50,000 IN THE EARLY 1960'S.

    NOW THE PROSPECTORS AND THE BIG CONCERNS ARE HOPING FOR A RISE IN THE PRICE OF GOLD WHICH COULD BRING THE MOROBE FIELDS OF NEW GUINEA BACK TO LIFE.

  • Tags

  • Data

    Film ID:
    VLVA9S2N6FYFY6NZWPI1CGQKMHDWK
    Media URN:
    VLVA9S2N6FYFY6NZWPI1CGQKMHDWK
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    02/02/1968
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:19:00
    Time in/Out:
    /
    Canister:
    N/A

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