BARRIER MINING INTERESTS.

Evening Post, Volume CVI, Issue 54, 12 September 1928, Page 14

BARRIER MINING INTERESTS.

Among points of particular interest in the address of Sir Kobcrt Home (chairman) at the annual meeting in London of Zinc Couiporatiou, Ltd., was the statement that the company, in conjunction with the North and South Broken Hill companies, was considering formation of a great central power unit to replace individual effort and effect economies. Experts were preparing reports. Should the scheme be adopted, its finance would not involve any draft on Zinc Corporation's earnings. Sir Robert Home also said that Zinc Corporation was considering, in conjunction with the North and South companies, some collective action in the direction of formation of a separate investment trust company, to handle special investments in connection with extension and improvement of metallurgical industries in Australia and the expansion of Australian manufactures. Speaking of the outlook, the chairman stated that the vicissitudes had been wea thered without loss, and the future was full of hope. Increasing co-operation between the company and its neighbours could not fail to benefit each of them. The chairman (Mr. H. G. Darling) told the annual meeting of Broken Hill Proprietary, Ltd., in Melbourne, that since the mine at Broken Hill was closed in September last only pumping and general repair work underground had been maintained. Mining treatment and compensation costs were more than the ore was worth with lead at any thing like present value. Nobody could predict with any certainty the course of the lead market, I and the company could not sit back indefinitely incurring heavy expenses, with a faint hope that the price of lead would appreciate. The directors would soon have to consider whether a complete abandonment-of mining was advisable. The steel works were running on reduced capacity,, due to lack of orders and extreme competition inr'some lines from overseas.