asked the Minister for Industry and Commerce if he will state the proven reserves and grades to date of lead/zinc mineralisation in deposits (details supplied) as computed by the Geological Survey Office.
24.
Ceisteanna—Questions. Oral Answers. - Mineral Deposits.
23.
asked the Minister for Industry and Commerce if he will state the nature of the arrangements made by a mining company (name supplied) for the sale of State-owned minerals from a specified orebody (name supplied) to various foreign smelters.
With the permission of the Cheann Comhairle, I propose to take Questions Nos. 23 and 24 together.
The deposits mentioned in the first question are being currently investigated under prospecting licences. The licensee is required to furnish annual reports of work done under the licences and information about the drilling of boreholes. Information given to me in this way is confidential. As a computation of ore reserves and grades to date of lead/zinc minerals by the Geological Survey of my Department would be based on such information, the Deputy will appreciate that it would not be proper for me to give the data requested by him.
As the company in question is a private concern I am precluded from giving information about its business apart from information which it publishes. A recent statement by the company to the Press indicated that estimated total reserves amounted to 77m short tons and that arrangements have been made with seven European smelting firms for the sale of concentrate products. This is confirmed in the company's last annual report which indicates ore grading at approximately 2.63 per cent lead and 10.9 per cent zinc.
I have already indicated to the House that undertakings have been given to the company named in the second question that a lease of State minerals in a number of townlands included in a prospecting licence held by them will be granted. It is my intention, as soon as I am in a position to do so, to grant a lease on foot of these undertakings subject to such terms and conditions as I may consider proper or desirable in the public interest.
Would the Minister not agree that, as public representatives, the Members of this House are entitled to know what property the State owns?
The Minister does agree that we are entitled to that information. However, the Deputy must also recognise that private companies, responsible to shareholders, have the right to certain secrecy in regard to their operations. If the Deputy objects to that position he is entitled to say so but it has been normal practice in our society to respect that privacy, and it is a necessary part of business.
Would the Minister not accept that Members of this House are the best representatives of the shareholders in Irish mineral wealth?
The Deputy is broadening the scope of the Question.
I would agree with the Deputy but I do not see how it helps.
In the matter of negotiating a licence with this foreign-controlled company is the Minister accepting it as fact when this foreign-controlled company states that there are 77 million tons? Does the Minister accept that figure?
The Deputy is aware that companies prospecting in Ireland have a statutory obligation to give certain information to the Geological Survey staff. The Minister for Industry and Commerce has the service of a band of very competent professional experts. I am advised by them on these matters and it is not simply a matter of accepting what one is told by some private company.
If we intend to have a smelter plant in this country are we going to have materials for it? If the present foreign-controlled company has made a deal with foreign smelters where are we going to get materials?
The Deputy's question does not arise on this question.
The supplementary, in fact, arises out of a question to which I am about to give an answer.