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Thursday, 25 October 1973
Page: 1459

Senator MAUNSELL - I ask the Minister representing the Minister for Minerals and Energy whether it is a fact that the Government has approved revaluation compensation for the asbestos company Woodsreef Mines Ltd? Is this the first case of revaluation compensation to a mining company being approved? Is it also a fact that negotiations are continuing to change the control of the company which is owned 58 per cent by a Canadian group and the rest by the Australian public? Is the Australian Industry Development Corporation involved in these negotiations? Finally, is it to be taken that revaluation compensation to mining companies will be determined by whether the companies are controlled by overseas or Australian interests?

Senator WRIEDT - I have no knowledge of the matter raised by Senator Maunsell. I will have it referred to the Minister concerned.

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