COSTS HIT GOLDMINING
Received Monday,- 7.5 p.m. JOHANNESBURG, Oct. 25. The President of the Transvaai Cliamber of Mines, Mr. G. Carleton Jones, said a considerable part of the goldmining industry would soon disappear if the prescnt rise in costs was not halted. The price of gold in the past six years had risen 15 per eent. and the cost of production 38 per cent. Eleven mines representing a quarter of the industry, were earning average profits of three shillings a ton or less. It would be unwise for the leaders of the industry to base the immediate policy on the assumption that a priee rise was imminent or probable, nor would redueed taxation solve the problem." The Government and country had chosen between policies of keeping down costs and ensuring at least the maintenance of the country 's economic activity, and allowing them to rise and thus jeopardise the country 's future.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHRONL19461029.2.8
Bibliographic details
Chronicle (Levin), 29 October 1946, Page 3
Word Count
152COSTS HIT GOLDMINING Chronicle (Levin), 29 October 1946, Page 3
Using This Item
NZME is the copyright owner for the Chronicle (Levin). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in