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298 THE DIAMOND
fallen
in. 1905 showed an increase to .1049 and further betterment in 1906 to
.1089, but 1907 fell to .0911. The quality of the diamonds, however, is
very fine, combining great purity of color and brilliancy, similar to
the Indian goods. Consequently they have always brought high prices.
From 1887, when they realized about thirty shillings per carat, the
price rose steadily to over sixty-six shillings in 1904. In 1905 the
price dropped to 61s. 5d., but in 1906 advanced to 63s. 4d., and at the
time of putting out the report for that year, the price had advanced
again to seventy shillings, and the yield for the year to March 31,
1907, realized 71s. 6d. The yield being so small, the cost of
production per carat compared with some other mines is very high,
running in the neighborhood of thirty shillings per carat. It was 2s.
10.79d. per load in 1904, which equals 30s. per carat.
The
profitable nature of African mining, once a true pipe is obtained, and
the mine is worked under a single and capable management, is forcibly
illustrated in the Jagersfontein. With a yield of about one-tenth of a
carat to the load, two dividends of £100,000 each were paid in 1904,
and a balance of £85,297.10.10 was carried over. In 1905 £362,500, and
for the year ending March 31, 1906, £425,000 was paid. The profits of
the year to March 31, 1905, were £437,355 ; of the next year, £437,293,
and to March 31, 1907, £429,373.
The
mine employs from two to three thousand natives. 2800 are needed for
the capacity of the mine, but as many of the natives go to their kraals
in planting time, there is sometimes a shortage of labor.
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