PRICE OF GOLD
INCREASE_POSSIBLE MINING COSTS RISING CRITICAL DIFFICULTIES JOHANNESBURG, Nov. 19. The chairman of de Beers Consolidated Mines Limited, Sir Ernest Oppenheimer, said that if the upward trend of prices continued at the present rate of 10 per cent, each six months for the next two or three years, the price of gold would have to be increased. “I hope this major operation, which has carried so many other difficulties with it. will not become necessary." He dismissed wage reductions as a means of mitigating the- upward trend of, working costs. After saying that the "immediate difficulties may even be described as critical," Sir Ernest Oppenheinier added that the problem for the existing Rand mines was to continue through the next two or three years. He was confident that the difficulties would be overcome and the gold mining industry would emerge bigger and better than ever.
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Bibliographic details
Gisborne Herald, Volume LXXIII, Issue 22184, 21 November 1946, Page 4
Word Count
147PRICE OF GOLD Gisborne Herald, Volume LXXIII, Issue 22184, 21 November 1946, Page 4
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