BROKEN HILL MINES
TO CLOSE THIS MONTH. (Australian aad N.Z. Cable Association.) SYDNEY, Sept. 11. The Broken Hill Proprietary Mine Directorate announces the closing down of the mine about September 24. This step is taken owing to the low price of lead and to there being no indication .of a very substantial recovery. Over one thousand men will be idled. It. is understood that Block Fourteen Mine will also close at the same time, idling a large number. These announcements caused a heavy slump in the price of all Broken Hill shares. The directors state that they regret idling the mine workers, but in view of the extent of the losses already made, and of the present outlook of the lead market, they consider that a continuance of operations at the present time would not be justified.
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Greymouth Evening Star, 12 September 1927, Page 12
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137BROKEN HILL MINES Greymouth Evening Star, 12 September 1927, Page 12
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