MINING.

Auckland Star, Volume LXV, Issue 162, 11 July 1934, Page 4

MINING.

RAND PROFITS DOUBLED. HIGH PMCH OF GOLD. A revolution has been wrought In Rand, gold-milling since South Africa's departure from gold. As a result of the Governnient's decision In December, 19..2, the mines as a whole have increased their profits bv about 100 per cent, their direct contributions to Government by 2->0 per cent, dividends by DO per cent, and their appropriations to capital expenditure by 60 per cent; while tonnage has risen by little more than 5 per cent, and working costs have been almost stationary. These figures have been cited as an effective reply to those who prophesied that the gain to primary producers, whether mines or farms, would be dulckly offset either wholly or partially by higher costs of living and production. Actually, costs of living in the Union have risen by no more than 2J per cent, due to the usual "lug" of retail behind import and wholesale prices. A further rise in living costs and, therefore, also in production costs, is regarded as probable, hut the past year's experience, especially the dollar "stabilisation," has increased the probability of a general return to gold, and a return at a substantially enhanced currency price. If that should occur, it would be many years before the natural rise in costs could overtake the rise in selling values. YIELDS OF COMPANIES. Bell Kilgour (Cromwell). —Last week, 21oz lOdwt. Mataki (Murchison). —Last week, 390z for 129 hours. Okarito (South Westland). —Last week, 2Soz 15dwt for 122 hours. MANAGERS* REPORTS. Dawn of Hope (Thames). —-A further fift has been driven on the hangtngwall dropper of the Golden Age reef, this making a total distance of 23ft in the hiUward block on the reef. This body of ore is now showing a width of 12in in the face. and at each breaking down has shown gold freely in the stone broken, and generally looks most promising. During the week we have had live loads of dirt treated at the School of Mines for a return of 290z 17dwt retorted gold, the approximate value being about £130.