|
486
SIR ERNEST OPPENHEIMER
how
much more so would this be the case if the properties were equipped
more in accordance with their reserves. As I have stated, it is
impossible to express any opinion as to the ultimate output. Very
diverse views will no doubt be found to exist on this point, but it is
possible, and in fact probable, that the above figure of 195,000 tons
will steadily grow and as it does the influence exercised by a company
controlling this output would increase and its position correspondingly
improve. Another point in connexion with production, for which
provision would be made by the establishment of a company to take over
the interests of the three companies, would be that operations could be
conducted in the most economical manner, that is to say, copper would
be produced where it could be made most cheaply. This would be of
inestimable value in times of depression and low copper prices.
(2) The formation of one large company would greatly strengthen the position vis-a-vis legislation
and the Government authorities generally. There is a tendency among
governments today to intrude themselves into the affairs of private
enterprises and invariably when they do so it is with disastrous
results. This disposition is probably most accentuated in regard to
mining. In the nature of things, for profitable operation, mining has
to be conducted today on a very large scale, which, for financial
reasons, leads to the creation of powerful groups and combines. This
naturally tends to place the control of large sections of the mineral
wealth of a country in a few hands. On the other hand it is a popular
argument in these democratic days that the mineral wealth should be the
property of the nation. In their efforts to reconcile the
irreconcilable, governments incline to exercise control over mining
operations. This tendency to interfere finds fruitful soil in
dissensions among rival mining enterprises, because it provides the
government with an excuse to intervene ostensibly with the object of
settling those differences but really with the aim of controlling the
industry. It is improbable that any basis could be found for merging
all the enterprises in Northern Rhodesia because the interests are too
divergent. As between Bwana and R.C.B.C.-N'Changa, however, there is
much common ground. The value of a united front as presented by these
companies, as opposed to individual action and divided council in
negotiations with the Government, cannot be over-estimated.
(3)
For purposes of finance. This is certainly as important as either of
the previous reasons. You will note that the estimates in regard to
N'Kana forecast an expenditure as between 31 May last and the date of
starting production which amounts to no less than .£3,750,000 exclusive
of expenditure in connexion with the Rhodesian Selection Trust
properties and N'Kana (balance) Concession. Of this sum a big part
still remains to be provided and so much more as the outside interests
call for. The amount of money already invested in Rhodesia is very
great and yet much more is
|
||
|
|
||