Mining and Engineering Journal, Vol. 1 (Classic Reprint)

Johannesburg, Nov. 11, 1916. of 15 per cent., this may be said to represent 1,500,000 milling tons, worth 55s. per ton, or a net profit of about .- 2,800,000, equivalent to 8per share! If developments continue on this scale, even the present price of the shares will soon seem very moderate. The previous record year was 1914, when 1,990,000 tons were developed of an averagi value of 38s. 7d. per ton. #T he British Trade Commissioner inS outh Africa has forwarded a further extract from the local Transvaal Steel, press relative to the extension of the steel works at Vereeniging (T ransvaal). The small steel furnace which has done service in the past is being replaced by a larger one, which is lined with locally-made magnesite and silica bricks, products which, it is stated, are destined to displace the imported articles. The furnace of the latest open-hearth type is supplied with a chrome lining from Rhodesia. All castings (or the furnaces are made on the spot, only the valves and chains being imported. Nothing but local bituminous cum I is used to supply the required gas. The latest type of Dibley valve is employed, and it is anticipated that the new furnace will turn out 1,000 tons of steel a month, while the original small plant could produce only half that amount. The increased production of copper has not in any way impaired the proximate future. A ceordT he Copper ing to authorities in the United States, theO utlook. production during 1917 will greatly exceed that of the current year. This increased quantity will not, it is said, be produced speculatively; it is to meet more or less known or expected demands. Some of the biggest companies have sold ahead at 28c. per pound, and profess to see this level at least maintained, if not exceeded. Not only inN ew York, but in other big centres, the investing public think and talk copper, and to-day sprices oJ the
(Typographical errors above are due to OCR software and don't occur in the book.)