PANY MEETING
DURBAN ROODEPOORT DEEP
(Incorporated in the Union of South Africa)
INCREASED DEVELOPMENT
W. H. A. LAWRENCE. the chairman, presided at the annual meeting urban Roodepoort Deep, Limited, which was held in Johannesburg lay 19th Moving the adoption of th‘i report and accounts, the man said that the total profit had been £1,229,795. Dividends had bed £406,875 and provision for taxation had amounted to £638,551. ter provision made in respect of miners' phthisis outstanding liability been £6,954. .1 expenditure on capital account had amounted to £124,411,. the ipal item being the sinking of No. 5A circular shaft and the provision luipment for it. The headgear portion of that shaft had been ema- il during the year and the shaft had been sunk to a depth of 1,301 ft. w the 30th level. A large winder for Nos. 3 and 4 compartments :o. 5 shaft had been erected and put into commission and various ssan; additions had been made to No. 5 compound.
ivelopment accomplished during 1941 had amounted to 106,447 ft.— 'crease of 7,922 ft. compared with the previous year's figure. Payable developed had amounted to 3,108,300 tons with an average value dwts per ton. The available ore reserve as re-estimated at
• mg 31st, 1941, had been 7,881,800 tons averaging 4.4 dwts. over mg widtn of 54.4 ins. The available reserve had shown a satisfactory of 1,082,500 tons, the average value remaining unchanged, while toping width had been 1.9 ins, greater.
e price received for gold and the rate at which normal income-tax payable by the company had remained unchanged throughout the There had been, however, an increase in the special contribution was based on taxable income before deduction of redemption ce and any tax loss brought forward from a previous year. As January 1st, 0941, the percentage payable had been raised from r cent. to 16 per cent., while as from the beginning of 1942 there en a further increase to zo per cent.
ng the year difficulties experienced in obtaining adequate supplies ntial materials had increased. Every effort was being made by the 'rung industry as a whole to reduce consumption and to conserve g stocks, and with that object in view development programmes Ily had been curtailed since the beginning of 1942. In order to ly with the general policy of conserving essential materials it had decided' not to circulate to shareholders the usual quarterly reports e report of proceedings at the meeting. Copies of those reports be obtained, however, on application to the head office in Johannes- or to the London office.
large number of the company's European employees was absent on service. In addition, the mine had undertaken its share of eons production and had satisfactorily fulfilled all work of that entrusted to it.
report and accounts were adopted.
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