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1224
MINERAL RESOURCES.
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to a volcanic breccia outcropping in several places in that region.
This breccia contains all the minerals found in the gem sands, and is
similar in appearance and composition to the kimberlite rock of South
Africa. In the latter country the kimberlite occurs in necks or pipes
of old craters. At Kakanui the breccia is stratified and probably
represents a submarine flow. In such a case pipes probably exist in the
region, though buried under the flow.
Though diamonds can not be predicted for this region, it will not be surprising if they are found.
BORNEO.
In Netherlands Borneo, according to "Le Diamant,"0
not only are diamonds found, but there are several cutting
establishments where the stones are cut very cheaply. At least 300
polishers and 160 cleavers are at work. The cut stones are bought by
native merchants and are shipped to Java, Singapore, and Siam. Not only
the stones found in Borneo and Australia are cut, but about 16,000
carats are imported from South Africa. There was much activit}7
in prospecting for diamonds in Netherlands Borneo during 1906, and one
report states that stones were found plentifully at Tainam, while
extensive digging operations were being carried on near Martapura, in
southwest Borneo.
NOTES ON THE DIAMOND INDUSTRY.
Income tax on De Beers Company.—The
British Government levied an income tax against the De Beers
Consolidated Mines Company, not only for the year 1906, but for several
years past. The contention was that the greater part of the company's
business was conducted in London, and that it should be taxed there
accordingly, regardless of the tax already paid to the Cape Colony
government. This new tax amounts to over £100,000 a year, and the total
for past years would bring it up to over £600,000. Since this tax is
considered unjust, there was some talk of the diamond syndicate moving
its offices from London to avoid paying the double tax. America
purchases more than one-half of the company's diamond output, while
England consumes only about one-sixth. Accordingly, it was suggested
that it might be good policy for the company to move its London office
to New York. The tax, amounting to something like £600,000, has been
paid, however, and it is not probable that this step will be taken at
the present time at least.
Diamond cutting.—The
question of the establishment of a diamond-cutting industry in South
Africa was much agitated by the newspapers of the colonies. It was
argued that if an export tax of £1 per carat should be placed on all
rough diamonds exported it would cause the mining companies and the
diamond syndicate to set up their own cutting establishments in the
colonies to escape the tax; and in this way occupation would be
supplied for some 15,000 workmen, and a large additional revenue would
be earned on the diamond production. It is not likely, however, that
the diamond cutters could be attracted from their homes in their native
lands unless they were offered greatly increased salaries over what
would be required to offset the increased
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