DIAMONDS.

Dominion, Volume 7, Issue 1871, 3 October 1913, Page 5

DIAMONDS.

$ NEW SOUTH WALES FIELDS. FUTURE POSSIBILITIES. That there is a possibility of big diamond fields, rivalling even those of South Africa and Brazil, being eventually discovered in Australia, is the belief of s?r. D. Grove, of Invorell, Now South Wales, though the latter district itself is too low geographically for any of the "pipes" which yield largo diamonds in tiio profusion that is characteristic of the Kimberley mine. None, tho less Inverell is tho present seat of the Alls- • tralian diamond industry, and the stones yielded are, size for size, of as good quality as the best tho world produces. Mr. Grove was formerly concessionaire of the St. Paul do Loanda railway in Portuguese West Africa, and consulting adviser to H. A. Ward, of the Wesselton diamond mine, South Africa. lie came to Australia in March, 1912, to investigate tlie diamond oceurreneo in the matrix foundiat Oakoy Creek, by Mr. A. ft. Pike, and was last week.in Sydney completing arrangements for tho visit to Inverell of Anglo-French financiers who have already arrived in Melbourne. Having taken out some hundreds of loads of tho matrix, Mr. Grovo absolutely convinced himself that tho class of diamonds found therein are equal to the best Brazilians of the same size. The largest that has yet been found was of 2 9-10 carats, and had it been of as good a shape as most of the smaller stone, it would have been worth £60 or £70. "That, of course, is tho wholesale dealer's price," explained Mr. Grove. "There is a very big increase by tho time a stone is retailed to the public." He added that though it is forty years since diamonds were first discovered in Australia, the market for Australian stones has not been developed until quite recently. When he arrived in Australia some eighteen months ago diamonds were being sold freely at 10s. per carat, at four stones to the carat, and to-day similar stones fetched 225., and would very probably rise in price. Larger stones wero proportionately more valuable. Mr. Grove added tha.t tho party _ of capitalists now in Melbourne were going to examine the wholo Inverell district with tho object of taking over mines already proved, notably the Alfredamia diamond mine, from which 1360 diamonds have been won out of 300 loads, worth roughly £320; tho Leander tin mine, at Gilgai, midway between Tinglia and Inverell; and Parry's and Elliott's tin lodo propositions. When they return from Inverell, Mr. Grove intends going over to Melbourne, with tho view of endeavouring to induce the Federal Government to encourage dia-mond-cutting in Australia by the offer of a subsidy of £1 per carat on 5000 cara.ts of cut diamonds.