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PRIMARY PRODUCTION
during the past six years has been the growth in the number of co-operative building societies, which are at present formed ex- clusively of local pensionable officers of the Civil Service and have been established with funds loaned by Government. Another development of interest is the increasing appreciation by rural communities of the improvements they may make in their way of life by co-operation and the formation of better living societies. Several of these societies have successfully completed water supply and housing schemes for their members.
A further source of credit to farmers who are members of co- operative societies is the J. E. Joseph Trust Fund. The fund is administered by the commissioner, as Registrar of Co-operative Societies, and since its establishment in 1954 9,019 loans totalling $12,350,034 have been issued. In addition a large number of societies operate their own revolving loan fund schemes which are steadily growing in size and effectiveness, and which it is hoped will reduce the dependence of members for short-term credit on official and outside sources. The best examples can be found in fishermen's co-operative societies, 56 of which operate revolving loan funds with a total capital exceeding $800,000 and a turnover of more than $750,000 a year.
Twenty-nine new co-operative societies were registered in 1962, bringing the total on the register at the end of December to 377. At present there are 14 different types of societies. A table showing the number of societies in being at 31st December 1962, with details of their membership, share capital, deposits and reserve funds will be found in Appendix V.
MINING
Iron ore, wolframite and graphite are mined underground, and kaolin, feldspar and quartz by opencast methods. Iron ore is ex- ported to Japan, wolframite to the United States, graphite to the United Kingdom, United States, Japan and other countries, and kaolin to Japan, Taiwan and the Philippines. Ceramic and enamel- ware factories consume all locally produced feldspar and quartz, while about a fifth of the kaolin mined is used in local rubber
factories.
In 1962 iron ore mined at Ma On Shan was treated in a dressing plant near the waterfront with a daily capacity of 800 tons of
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