Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Full Day's HansardDownload Full Day's Hansard    View Or Save XMLView/Save XML

Previous Fragment    Next Fragment
Wednesday, 2 April 1941

Senator McBRIDE - The Government has definite information that the Broken Hill Proprietary Company Limited is putting up a plant, for the manufacture of magnesium. I understand that that plant will be in production in the latter half of this year. We have no guarantee from the company as to whether its process will be successful, nor in respect of the price to be charged. I point out that as the Broken Hill Proprietary Company Limited did not ask the Government for any assistance, or protection, in this venture, we have no information of the kind asked for by the honorable senator in the latter part of his question.

Senator AYLETT - Was it necessary for the Broken Hill Proprietary Company Limited to apply to the Capital Issues Advisory Board for permission to increase its capital in order to enable it to commence the production of magnesium, or is the company undertaking that work with its private capital?

Senator McBRIDE - I have no knowledge as to what portion of the company's capital is to be utilized in the establishment of its plant for the manufacture of magnesium. The honorable senator, however, will recall that only recently the

Broken Hill Proprietary Company Limited made an additional issue of capital for which, I believe, it secured the approval of the Capital Issues Advisory Board. I am unable to say whether the company is using any portion of that capital on the production of magnesium.

Suggest corrections