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(iv) NEW TERRITORIES MINING Co., LTD.
One square mile held under lease at Ma On Shan for a period of 50 years. An outcrop of magnetite iron ore is being mined on the quarry system by 120 contract coolies under Chinese management. Approximately 8,000 tons have been produced since 1931 and royalty amounting to $3,600 has been paid up to February, 1938. Production is regulated according to demand and the whole of the output is being sold at present to the Green Island Cement Co. at $10.50 per ton, the cost of pro- duction, transport and royalty being $8.00 per ton. Owing to the limited time at my disposal, I was unable to visit the mine. After some trouble I located and visited the Company's office where there was no responsible person in charge at the time, and it was only at the last moment that I managed to interview the Chinese managing director. According to him, there has been no fatal accident since the mine opened up seven years ago, so it would appear that mining operations are being controlled in a satisfactory manner under the Chinese manager.
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