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Press Cutting - Future Of In Industry: Perak To Meet Miners
This article published in the New Straits Times on 2 December 1985 advises that the Perak State Government is to meet major local mining companies to discuss the fate of their workers and the future of the declining industry said Menteri Besar Datuk Seri Ramli Ngah Talib.
The resumption of trading on the London Metal Exchange and the Kuala Lumpur Tin Market is expected to affect the price and several gravel pump mining companies may have to close.
The situation may be worse than expected and Perak expects to get only $3.5 million in taxes which is 50% down on last year and only four or five years ago the taxes would total $30 million or more. However, Ramli also said that he expected the industry to pick up again and continue to contribute to the economy of the State.
It is expected that it will take about 11/2 years before current stocks are depleted and the price to improve.