MINING IN AUSTRALIA

New Zealand Times, Volume LIII, Issue 12613, 25 November 1926, Page 11

MINING IN AUSTRALIA

GREAT POSSIBILITIES. LONDON, November 20. Mr Corbould, a director of the Mount Isa Mining Company, in a statement regarding the Anglo-Ameri-can Corporation’s participation in the company, says it would be one of the greatest invasions from outside of Australia of mining capital for a quarter of a century. Although the corporation originated in South Africa, it included the Pierpont Morgan and Grenfell groups with a capital of £2,000,000, to-day’s market price of which is £4,000,000. If the corporation’s experts approve of the Mouut Isa property, the fprmer is prepared to invest unlimited capital in it. Tjbreo experts are to come to Australia, Messrs Harold Titcomb and Richard Gippert. by the Ormuz, on January 27th, and Mr Carl Davis from South Africa. They will meet Mr Corbould in Sydney in February. Mount Isa shares in London to-day are quoted at 23s 9d. Mr John Huxliam, for Queensland, says this is the most important of recent Australian mining enterprises. If it is successful, the co-operation of some of the world’s greatest magnates is assured. It is understood the Anglo-American Corporation does not propose to limit its investments to mining, but is prepared to investigate other propositions.