Salient. Victoria University Students Newspaper. Volume 37, No 26. October 2, 1974
Red Hills Asbestos
Red Hills Asbestos
A consortium of Kennecott Copper Corporation of USA, Cassiar Asbestos-Corporation of Canada, and Lime and Marble N.Z., are in the advanced stages of prospecting a large asbestos deposit in the Red Hills area of N. W. Otago. Situated in the middle of one of N.Z.'s last great wilderness areas, and bordering Mt Aspiring National Park, the Red Hills deserve better than to be processed into fibrolite and asbestos cement pipes. If mining does go ahead, the consortium will regroup as N.Z. Asbestos Ltd, with Kennecott and Cassiar holding one million shares each, and Lime and Marble having the right to purchase 324,581 shares.