A WEALTH OF DIAMONDS.

Hawera Star, Volume XLVI, 14 April 1926, Page 6

A WEALTH OF DIAMONDS.

SOUTH AFRICAN OUTPUT. According to the statistics of the .Department of Mines issued early in March the total production of diamonds in the Union last year reached the value of £8,198,128, an increase of £165,722 compared with the previous year, says the Auckland Eterald/s Capetown correspondent. In the value of the total production the Cape, of course, comes first with £5.070,304, toward which Kimberley contributes no less than £4,174,4J3. The Transvaal’s total production is valued at £2,214.122, of which Pretoria district is responsible for more than half. The Free State total was £913,702, chiefly from the Fauresmith disAt the annual meeting of the Premier Diamond Mining ,Co., Ltd., the chairman made the announcement that the new diamond buying syndicate had concluded an agreement for the purchase of the Premier stones at a price- 10 per cent, below the price paid by the former syndicate. To maintain its quota the company would have to increase its contribution of stones of lower value, and would thus be adding to the already overstocked market of inferior stones, thus continuing the vicious circle which was responsible for. bringing down the price.