SOUTH AFRICAN DIAMOND MINES.

New Zealand Herald, Volume XXXI, Issue 9497, 28 April 1894, Page 5

SOUTH AFRICAN DIAMOND MINES.

We have been shown a copy of the fifth annual report of the De Beers Consolidated Mines (Limited), Griqualand, South Africa. During the twelve months ended June 30 the diamonds produced realised £3,239,369 8s 6d, and the total expenditure, including interest on debentures was £1,695,293 10s Bd, leaving a profit of £1.544,095 17s lOd. The dividends paid and provided for were £987,238 15s. Redemption funds (mortgages and £300,283 19s 4d, the balance carried forward for the year being £782,407. The average yield for De Beers and Kimberly is 1.05 carats per load of 16 cubic feet, weighing 16001b, the value per carab £1 9s 0.6 d, and the value per load £1 10s 6d. The stock of blue ground on the floor had been increased by 91(1,557 loads, making a total of 2,606,362 loads, which the directors considered a most reliable asset and a great safeguard against all contingencies. The increase was due to the result of improvements in machinery and mining developments during the last twelve months, bub owing to these improvements, the cosb of raising blue ground has been considerably reduced, and the directors had therefore taken the stock on the floors into their account at 3s fid, as against 5s 2.1 d. The report contains a large amount of statistical information, also plans of the De Beers mine at the 1009-feeb level and sections off the same mine looking north and west. There is also a plan of the Kimberly mine 1000-feet level, another of the contour of the working and sectional views looking north and east. There is also art interesting diagram showing the gallons of water pumped per hour from Do Beers and imberly mines. The diagrams are of great interest, as showing the formations passed through before the blue diamondbearing ground is reached. It is principally debris, basalt, and black shale, the surroundings of the reef covering the blue ground consisting of melaphyre arid quartzite. The speech delivered by the Hon. Cecil John Rhodes in moving the adoption of the reporb contained a large amount of information regarding the company's properties. '. ■■ ■ ■_. t -,