SOUTH AFRICAN GOLD

New Zealand Herald, Volume LXXII, Issue 22131, 10 June 1935, Page 5

SOUTH AFRICAN GOLD

VAST OUTPUT OF RAND UNPARALLELED PROSPERITY SMALL MINERS IN RHODESIA " Rhodesia and the Union of South Africa are probably the only two British Dominions to declare a genuine surplus during the past year," said Mr. H. Cramer-Roberts, a New Zealander with mining interests in Southern Rhodesia. Mr. Cramer-Roberts returned recently after an extended visit to the mines in which he is interested. His son, Mr. John Cramer-Roberts, who was educated at King's College and the Thames School of Mines, is in Rhodesia, managing one of these properties. " This state of prosperity is entirely due to the great activity on the goldfields," Mr. Cramer-Roberts said. " The yield is enormous and the Rand alone has an output of £7.000,000 sterling a month, some of the mines bringing out as much as 200,000 tons of ore in that period. Two years ago it was estimated that 60 miles of the AYitwatersrand re<?f would have been developed by today. Actually, there are now mines through 100 miles of its length, and the development goes on all the time. There are already two big mines in the Far East Rand Extension, and the Far East Rand area is being opened up rapidly. Over 100 gold mines are working at present in that area alone." Large Capital

A groat number of the Rand mines, Mr. Cramer-Roberts stated, had started with a capital of between £1,000,000 and £2,000,000, and several were capitalised to a much larger sum. The majority appeared to have a long life ahead of them and, at the present price of gold, could look forward to up to thirty more years of production at least. Low-grade propositions had come into their own and many abandoned mines had been reopened. All goldmining shares had appreciated very considerably, and dividends in many cases were phenomenal. The Witwatersrand country, Mr. Cra-mer-Roberts said, consisted of a huge basin with granite edges, filled with layers of sedimentary rocks. The chief gold-bearing strata was of quartz pebbles in a matrix, the latter strangely enough bearing the gold. Most of the earlier mines were developed along the actual outcrops, but to-day mining was proceeding further and further inward. The possibilities of the deeper levels along the main axis were unlimited. Subsidences in Workings "An interesting phenomenon in Johannesburg itself," Mr. CramerRoberts said, " is the frequent occurrence of heavy earth tremors, many more violent than any I have experienced in New Zealand. These are caused by subsidences in the old workings under the city. Everybody is thoroughly used to them and they pass practically without comment. All the same, I think that sooner or later some of the large modern buildings may be affected. To-day the general practice is to pipe the battery residues underground as filling, the poisonous cyanides being neutralised to protect the miners. " Conditions in Rhodesia differ materially from those on the Rand," Mr. Cramer-Roberts continued. "Southern Rhodesia offers the best small mining facilities in the world, and for every company there are probably over ten individuals working their own claims, with native labour. It costs only £1 to peg out a claim and another to register it, while 60ft. constitutes the amount of work to be done annually. Goldmining is carrying the country, while the farmers are being subsidised. Some years ago .tobacco growing represented a highly lucrative occupation, but to-day only certain classes of leaf are in demand and many of the growers are up against it."

GOLD AND SILVER QUOTATIONS IN LONDON (Received June 9, 5.5 p.m.) LONDON, June 8 Fine gold is quoted to-day at £7 Is lOd an oz., compared with £7 Is 9sd yesterday and £7 Os 7d on Thursday. The quotation for silver at per fine oz. yesterday was 35 5-16 d, compared with 35 l-16d on Thursday.

CANTERBURY MARKETS

MOVEMENT IN POTATOES [BT TELEGRAPH —PRESS ASSOCIATION*] CHKISTCHURCH, Saturday The excitement in the potato market has subsided to some extent and at the moment there is very little movement. Up to £6 12s 6d and £6 15s a ton have been paid during the brief spurt by oversellers, but the limit asked to-day for prompts is £6 10s. However, buyers' limit for whites is to £6 7s 6d and for Dakotas £6. Quotations to farmers are £5 for Avhites and to £4 15s for Dakotas. July-September quotations are £7 10s a ton f.0.b., sacks included, but an odd sale or two has been made at less than this figure. It is expected the Waipiata's local potato consignment will approximate 4000 sacks. Notwithstanding the steady dispatch of potatoes North this season, total shipments from Lyttelton are not greatly in excess of what they were last year. To June, 1934, the total was 67,144 sacks, and to June 1 this year 80,130 sacks. However, an allowance of practically 10 to 12.J per cent has to be made for the lighter weight of the sacks this season, which would bring the total dispatches to about 4000 sacks more than last season. Timaru figures are not available, but probably considerably more potatoes have gone North this year from that ceutre. A new factor in the position has developed within the last few days. Potatoes have been offered from the Bluff at £6 5s for June, and it is understood that 300 tons have been sold for the North. Dunedin is also reported to be quoting in small quantities. Oats are a shade stronger in tho South, A Cartons being quoted at 3s 3d to 3s 4d a bushel f.0.b., sacks included. There is no response in the local market. Chaff is not selling readily in Christchurch at £3 5s a ton on trucks.

There is a shade firmer feeling in the market for partridge peas, although there is no change in quotations, which are* 6s a bushel on trucks.

The surprise of the local market during the week was the reduction by the Wheat Purchase Board of the price of wheat for poultry purposes to the North Island from 4s 4d to 4s Id f.0.b., sacks included. Some merchants are holding fair stocks bought at the higher price operating previously for "free" wheat.