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”.