MINES AND METALS

Evening Star, Issue 23175, 26 January 1939, Page 10

MINES AND METALS

EMPEROR MINES LIME PLANT AT TAU IN COMMISSION Emperor Mines Limited reports that discharge of timber and fuel oil by steamer at the new wharf at Vatia, Fiji, is expected near the end of January. The lime plant at Tau is in commission, and the first samples of lime have given satisfaction. In the annual reports of the Emperor and Loloma Companies, issued in October, the directors stated that both of the companies were large users of lime for treatment purposes. The erection of the new plant at Tau, about 85 miles from the mines, would mean substantially cheaper lime supplies, and consequent lower treatment costs. In addition to serving the oil tankers discharging fuel oil for Tavua Power Pty. Ltd., the directors stated, the new wharf at Vatia would enable other deep-sea vessels to discharge cargo at a more convenient point for the mines than has previously been available. ZING CORPORATION LTD. EXPANSION IN OUTPUT Although the objective of 700,000 tons ore per annum will not be reached before 1941, Zinc Corporation Limited, Broken Hill, is progressively expanding output. The mill treatment increased to 414,500 tons ore in 1938 from 390,360 tons in 1937. Metal content of the concentrates produced was 64,033 tons lead, 39,666 tons zinc, and 1,564,5880 z silver, compared with 68,927 tons lead, 34,059 tons zinc and 1,427,3910 z silver in 1937. Average prices (London) of the base metals showed a sharp fall, lead to £ls 5s 4d a ton from £23 6s Id, and zinc to £l3 19s lOd a ton from £22 6s lid. PRICE OF GOLD Press Association—By Telegraph—Copyright LONDON, January 25. (Received January 26, at 1 p.m.) Fine gold is quoted at £7 8s B*d an ounce.

Highest price in 1939, January 4, £7 10s 5d (record). Highest price in 1938, November 26, £7 10s; lowest price in 1938, January 3, £6 19s sd. Highest price in 1937, March 6. £7 2s 7id; average price in 1930, £4 Ss an ounce. FRENCH FRANC Press Association—By Telegraph—Copyright

LONDON, January 25. (Received January 26, at 11 a.m.) Sterling exchange on Paris, 177

Par with sterling. 123.31 francs to £l.

STERLING EXCHANGE Press Association— By Telegraph—Copyright LONDON, January 25. (Received January 26, at 1 p.m.) Sterling exchange, London on New York, 4.67 J.

London on New York, during 1932 averaged 4.95 dollars to £1 sterling; on August 2, 1938. 4.903; on September 28, 4.63; and daring October varied between 4.784 and 4.75|. During November, 1938, the variation was between 4.76 J dollars (November 8) and 4.63 i (November 26) During December. 4.694 (December 6) and 4.64| (Decern her 31). The year 1939 began at a rate of 4.634. which dropped to 4.624 on January 4. COLOMBO TEA SALE Mr L. M. Wright has received the following cabled report on the Colombo tea auction of January 24:- n At yesterday’s auction of 2,700,0001 b all grades were in keen demand, and prices advanced Jd for good quality teas and about Jd for medium kinds, common teas being very firm at last week s rates. . , One and a-half million pounds have been catalogued for sale next week.

January 24 . . £7 8 84 January 23 ... 7 8 84 January ?1 ... 7 8 Si January 20 ... 7 8 7 January 19 ... 7 8 5i January 18 ... 7 8 7i January 17 ... 7 8 7i January 16 ... 7 8 8i January 9 ... 7 8 7i January 4 ... 7 10 5 December 1 ... 7 6 3i November 1 ... 7 6 34 October 3 ... 7 4 8i September 1 ... 7 3 04 August 2 ... 7 1 8 July 1 ... ... 7 0 9 June 1 •y ... 7 0 74 May 2 ... 6 19 64 April 1 ... 7 7 04 March 1 ... 6 19 94 February 1 ... 6 19 7 January 3 ... 6 19 5

francs to £1. ... 117 1-16 January 24 January 23 ... 177 January 21 ... ... 176J January 20 ... ... 1774 January 19 ... 1771 January 18 ««• ... ... 1771 January 17 ... ... 1771 January 16 ... 1771 January 13 ... 177 7-16 January 11 ... ... 1774 January 10 ... 17615-16 January 9 ... 177 5-16 January 5 ... 17611-16 August 31 ... 1784 May 7 ... ... ... 1794 May 4 ... ... 168J April 25 ... March 26 ... ... ... 165| ... 16315-16 March 8 ... 15515-16

January 24 . ... 4.67J January 23 ... . . ... 4.67 j January 20 ... . . ... 4.684 January 19 ... . . ... 4.68 January 17 ... . . ... 4.674 January 16 . ... 4.67J January 13 . ... 4.67 January 11 . ... 4.67J January 10 . ... 4.67 January 9 . ... 4.67* January 2 . ... 4.63J November 1 ... 4.75 5-lb October 1 . ... 4.82J September 1 ... 4.85 13-16 August 2 . ... 4.90J July 1 .. . ... 4.958 June 1 . ... 4 94J May 2 . ... 4.98 11-lt April 1 '. . ... 4.94J March 1 ... '5.02