Dáil Éireann debate -
Thursday, 15 May 1941

Vol. 83 No. 4

Committee on Finance. - Minerals Exploration and Development Company Bill, 1941—Money Resolution.

Minister for Industry and Commerce (Mr. MacEntee)

I move:—

That for the purpose of any Act of the present Session to make provision for the promotion by the Minister for Industry and Commerce of a limited company for prospecting for and developing minerals other than coal, and to make divers provisions in respect of such company and for matters connected therewith, it is expedient to authorise—

(1) the payment out of moneys provided by the Oireachtas of the expenses incurred by the Minister for Industry and Commerce in the administration of such Act;

(2) the payment out of and charge on the Central Fund or the growing produce thereof of the money payable by the subscribers to the memorandum of association of such company and the Minister for Finance respectively as consideration for the allotment and issue to them of shares in the share capital of the company in pursuance of the provisions of such Act;

(3) the loan to such company, out of moneys provided by the Oireachtas, of a sum not exceeding £250;

(4) the advance, from time to time, to such company, out of moneys provided by the Oireachtas, of such sums (not exceeding in the aggregate £50,000) as the company shall require for the purposes of its business or for the purpose of paying the price or compensation payable by the company in respect of the acquisition of an existing mining business under such Act;

(5) the payment, from time to time, to such company, out of moneys provided by the Oireachtas, of such sums (not exceeding £3,000 in any one financial year) as the Minister for Industry and Commerce shall think proper.

Mr. Cosgrave

Had the Minister any estimate as to the sum of money that is involved in this?

Mr. MacEntee

At the moment £250 for the formation of the company, and whatever else may be voted by the Oireachtas, up to a total sum of £150,000.

Mr. Cosgrave

Are there any costs for working the Act?

Mr. MacEntee

Well, there are the usual costs which would fall on the Department, but they are not very heavy.

Mr. Norton

I want to endeavour to excite the Minister's interest in some mineral deposits in connection with this Bill. It is true, of course, that the Bill excludes coal for the purpose of definition of minerals, but there is an area convenient to Carlow town and going into Laoighis for a considerable distance, the area of Killeshin and Rossmore, where a small mine is being worked at present in a rather primitive fashion. If local folk of substantial maturity can be believed, the area contains very extensive deposits of other minerals as well. Because the matter is very urgent in our present circumstances, I should like if the Minister could see his way to direct some examination of that particular area, to ascertain whether, in fact, the minerals reputed to be there are there, whether they are there on a scale that would make them profitably exploitable, and whether it would be possible to direct the attention of the Exploration and Development Company to those deposits with a view to having them worked with the utmost expedition. As I have said, local people who have very many years of experience of the deposits in the area, and claim to have some geological knowledge of the extent of the deposits, are satisfied that very valuable minerals are lying there untapped. If that is true, I am sure the Minister would feel that they should be exploited with the utmost expedition. At all events, it seems to me, from all the information which I have been able to gather, that the subject is one which is well worth probing, and the probing of the deposits in the area might in fact lead us to quite a variety of minerals of a kind that we badly need in existing circumstances. I am just putting it to the Minister, on the Money Resolution, that perhaps he would have that matter investigated as soon as possible.

Mr. MacEntee

The Deputy has properly said that this Bill is concerned only with minerals other than coal. The area which the Deputy has mentioned has already been examined, and a detailed report has been sent to the persons interested. I shall submit that report to the mining company when it is formed, and will draw their attention to the suggestions which the Deputy has made, but I must allow them to exercise their own discretion as to whether they would deal with that area or not.

Mr. Norton

Will the Minister say if the area has been surveyed geologically only?

Mr. MacEntee

Yes.

Question put and agreed to.

Resolution reported and agreed to.