The Mining Magazine, Vol. 1 : September, 1909 (Classic Reprint)

Excerpt from The Mining Magazine

It has been said that Britons take their pleasures sadly it is more Obviously true that they take their holidays religiously. There fore, at this season the City lacks the presence Of the energetic spirits who are at the seaside or on the moors, renewing their youth in preparation for the Winter campaign. Thus there is a lull in the mining market, which, however, is in a decidedly healthy condition. In the early summer, as indicated by the calendar and not by the weather, there was sufficient Speculative activity to warrant talk Of a 'boom,' especially in the Ka?ir Circus, Where prices rose cheerfully, and in the American department, Where the quotations for half-a-dozen celebrated mines re?ected a renewal Of interest on the part of the public. General financial and industrial conditions are healthy, so that a reasonable Optimism prevails.

Excerpt from The Mining Magazine, Vol. 1: September, 1909

It has been said that Britons take their pleasures sadly; it is more obviously true that they take their holidays religiously. Therefore, at this season the City lacks the presence of the energetic spirits who are at the seaside or on the moors, renewing their youth in preparation for the winter campaign. Thus there is a lull in the mining market, which, however, is in a decidedly healthy condition. In the early summer, as indicated by the calendar and not by the weather, there was sufficient speculative activity to warrant talk of a 'boom,' especially in the Kaffir circus, where prices rose cheerfully, and in the American department, where the quotations for half-a-dozen celebrated mines reflected a renewal of interest on the part of the public. General financial and industrial conditions are healthy, so that a reasonable optimism prevails.

As is indicated by the letter from our Johannesburg correspondent, the mining industry of the Rand is undoubtedly prospering, having passed successfully through the troublous period of labour unrest and political uncertainty. The production of gold continues to increase and is now at the rate of 7,125,000 ounces or £30,000,000 per annum. During July there was anxiety on account of the shrinkage of labour supply, owing to the customary return of many Kaffirs to their farms, but this apparent shortage was due more to the needs of an expanding industry than to any serious diminution in numbers. In July 1908 the Rand employed 149,000 Kaffirs and 19,000 Chinese; in January 1909, the natives numbered 169,500 and the Chinese 11,500, making 181,000. In June the natives had increased to 176,000 and the Chinese had dwindled to 5,500, leaving the total almost unchanged at 181,500. In 1906 the Chinese importation gave 53,000 labourers to the Rand, but this is now a story of the past; the remaining Chinese will soon be going. They saved the Rand pending the recruiting of natives, a process that has proceeded steadily, so that between January 1907 and June 1909, there has been a gain of 72,000 Kaffirs. It remains for the managers to increase the value of this industrial implement by training the natives to greater efficiency. Next to the labour factor comes the consolidation of companies whereby the costs of administration are being decreased by centralization of management. At the same time old mines are being strengthened by alliance with fresh claim-areas and large milling plants are assured of a continued supply of ore. One of the latest fusions is between the Geldenhuis Deep, Jumpers Deep, and Geldenhuis Estate; it is also announced that the Rose Deep and Glen Deep are to consolidate, while Rand Mines is to acquire Rand Mines Deep. The Crown Mines flotation marked the amalgamation of an important group and it is apparently a settled policy, especially with Wernher, Beit & Co., to induce economy by this process of reducing the expenses of maintenance and administration. Working costs on the Rand are now about 17s. per ton, a notable improvement on the average of 28s. per ton prevailing before the War. The general effect of the application of sound financial and expert metallurgical knowledge to mining in the Transvaal has been to place the industry on a peculiarly sound basis and to diminish the speculative aspect of ownership in Kaffir shares.

Announcement of another 'banket' discovery is made from Rhodesia, this time at Abercorn in the Mazoe district, 60 miles northeast from Salisbury, in a region fairly well watered.

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