METAL MINING SLUMP.

Press, Volume LVII, Issue 17126, 22 April 1921, Page 7

METAL MINING SLUMP.

BBOKEIT HILL AFPECTED. (By Cable—Press Association— Ccmytig'hl.) ' (Australian and N.Z. Cable Association.) ~ SYDNEY, April 21. . In connexion with the mining slump the staff of the .Broken Hill Block 14 Mine have, received notices of the termination of their serviceßi I |The management of the Broken Hill '■ Associated Smelters recently intimated that there were fab prospects of a re-1 sumption of smelting operations a,t Port' Pirie While working costs and metal values remained as at present; There must be a marked Change in the proportion of costs to values before Work cbuld bo conducted with success. It WttS explained that the plant reconstruction was being pushed on With activity merely, to relieve, as ffif as possible, distress among the workers. The reopening of smelting de- \ pehds Upon two factors—-metal values and costs; Tlie former tomafc linfcfctVe and the latter must be reduced before work will recommence. Incidentally it is mentioned that the present pro-, gramme of work at Broken Hill is Hot fikely to continue much longer. The Work ilbW, beihg carried but resulted from the efforts Of the Broken Hill ObUncil and Messrs Itavanagh and "Payne's visit to the Barrier; Tho companies promised to continue Bome work Utttil about the middle of April itt the hope ■of better metal prices and reduced costs, but if these were not realised it wag made clear that except for zinc concentration all the plants must cloflb. As there has been no improvement in metal Values, while wages, coal port, etc,, are all as high as ever, a complete Bhut-down Is the only, possible bourse. Drastic reductions in fees,' Salaries, and office staffs, it is stated, are' now being made. So it Would appear that the companies engaged in the base metal industry ate pessimistic of the futliroi The companies sum Up the •position in the remark of brie official : ''The trbuble la easily explftinecl--Aus- J traliat} costs bf production are 20 tb 25 per cent, too high. If.we are tb Htfb we must produce cheaper. It is eithei that 0* close permanently.""]