PRIMARY PRODUCTION
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The Credit Unions Ordinance (Chapter 119) was brought into operation on February 28, 1970. Under this legislation, the Registrar of Credit Unions (currently the Director of Agriculture and Fisheries) has vested in him powers and duties in regard to the registration of credit unions and their by-laws, the examination of their accounts and general supervision. Up to the end of the year, 36 credit unions were registered, and they have made loans of nearly $2 million to members for provident and productive pur- poses at low rates of interest.
MINING
Iron ore and, at times, wolframite and graphite are mined under- ground and kaolin, feldspar and quartz by opencast methods. Iron ore concentrate (magnetite) is exported to Japan, graphite principally to the United States and kaolin to Japan, Taiwan and the Philippines. Most of the feldspar and about 20 per cent of the kaolin are con- sumed by local light industries.
Under the Mining Ordinance, the ownership and control of all minerals is vested in the Crown. The Commissioner of Mines is empowered to issue prospecting and mining licences and the Land Officer to issue mining leases. Details of leases and licences in operation are published twice a year in the Government Gazette. At the end of 1970 there were three mining leases, 20 mining licences, and six prospecting licences valid for different areas in the territory. They were mainly controlled by individuals or small mining companies.
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The Superintendent of Mines deals with applications for pro- specting and mining licences, the grant of mine-blasting certificates, the assessment of royalties on mineral sales at rate of five per cent of value, the collection of royalties, rents, premiums and fees for licences and leases, the certification of the origin of minerals in respect of which Comprehensive Certificates of Origin are required, and enforces safety regulations. He is also responsible for explosives regulations and for enforcing safety legislation in stone quarries. Strict security controls over explosives and fireworks were also continued throughout 1970.