The Chron­i­cle

Chronicle (Zimbabwe) - - National News -

BU­L­AWAYO, Fri­day, De­cem­ber 2, 1966 — The Renco gold mine 60 miles south of Fort Vic­to­ria, has been sold by the An­glo-Amer­i­can Cor­po­ra­tion be­cause it is not a payable propo­si­tion for a large com­pany to de­velop and work.

An An­glo Amer­i­can spokesman de­nied re­ports that the price was so low that it did not even equal half the value of the plant. The mine was sold for an undis­closed price to the Fil­rho Min­ing and Ex­plo­ration Com­pany which also owns the Kil­lar­ney Mine at Fi­l­abusi.

The com­pany sec­re­taries Mssrs CW Bot­ton and Sons of Bu­l­awayo, would not com­ment yes­ter­day. The chair­man of Fil­rho, Mr JWP Lever, was not avail­able for com­ment.

An An­glo Amer­i­can spokesman said yes­ter­day that the cor­po­ra­tion jointly took over the Renco claims area as a gold prospect and formed a new com­pany, Renco Gold Mines Ltd, to carry out prospect­ing devel­op­ment from an ex­ist­ing shaft.

“Af­ter a thor­ough in­ves­ti­ga­tion it was ev­i­dent that the prop­erty would not be a payable propo­si­tion for a large com­pany to de­velop and work,” he said.

“Renco is in the south­ern meta­mor­phic belt of Rhode­sia, which up to the present has been found to con­tain lit­tle be­yond un­payable quan­ti­ties of gold”. The An­glo Amer­i­can spokesman said the cor­po­ra­tion had been asked by the Mines De­part­ment to in­form it of any prop­er­ties that might be suit­able for small work­ers.

“When the cor­po­ra­tion no­ti­fied the de­part­ment that the Renco prop­erty would not be de­vel­oped any fur­ther, var­i­ous small work­ers ap­plied to work it on trib­ute. “It was sold to Fil­rho Minig and Ex­plo­ration Co of Fi­l­abusi”.

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