FILE NAME Cape Asbestos CAPE
DATE 1974 DOC CAPE122
DOCUMENT DESCRIPTION Annual Report - Anglo American Corp. of South Africa Ltd. Legal - Tibbs Case Exhibit 20
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HEAD OFFICE
;
44 Main Street Johannesburg 2001 fe
P.O.Box P.O.Box 61567 Marshallionym 2107 2107
Secretary Managing
J.T.Goldfinch J.T.Goldfinch
OFFICES
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Australian Anglo American Limited
500 Gelin Street Melbourne
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Anglo American Investment Trusi Bermada Limited
Belvedere Building Pitts Bay Road Pembroke Bermuda b
Secretary Ellis
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Botsalano House The Mali Gaborone fog
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Anglo
American
Corporation
Botswana
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Limited
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Secretary
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de Anglo American Corporation do Brasil Limitada
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Secretary A.de Azevedo oe
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Angle American Corporation of Canada Limited P.O.Box P.O.Box 28
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Dominion Centre Toronto M5K 188
Secretary P.H.Page a % ;
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Charter France S.A. 9 Rue de Vienne Parisae2, 0
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Secretary J.V.N.Payne J.V.N.Payne g
Luxembourg
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50 Route DEsch459
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Secretary D.P. Paton
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Portugal | Anglo American Corporation ofSouth Africa
244 Avenida Da Liberdade Lisbon
S.A.R.L.
Secretsry A. Vieira De Castro
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Rhodesia
70 Jameson Avenue Central Salisbury C4
Managing Secretary for Rhodesia T. Bain
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Booth E. 40 Holborn Viaduct London ECIPIAJ England
2. Joint London Secretaries D.S.
and Burrows
American CorporationLinaka Anglo
74 Independence Avenue
Central Africa Limited
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Secretary R.V.C.Asherived R.V.C.Asherived
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SHARE TRANSFER SECRETARIES
Registrars Limited 2
Consolidated Shate
62 Marshall Street Johannesburg 200
P.O.Box P.O.Box 61051. Marshalltoi 2107
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Charter Consolidated Limited
+ P.O.Box P.O.Box 18
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Qunter Houre
Park Street Ashford .
. Kem TN24 SEQ England
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ANGLO AMERICAN'
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AFRICA OFSOUTH
LIMITED
Soe
daeorse sed we the Bend ty H SAH tt6
58th Annual Report ConzoryPrasertionPrasertionde Vip
Containing the annual financial in statements respea of
thefinancialyearyear ended 31st December 1974
1974
ve
.
Noficteo members 2
Introduction 3
The year in brief 5
Directorate 7,
Administration $
Directors review 9
Financial Financial statements 41
Profile of the Group of
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Notice to members
Notice heren given that the fifty eighth annual general meeting meeting
members of Anglo American CorporationCorporation of South Africa Limited
will be held 21:44 Main Street Johannesburg on Friday 23rd May 1975 31 19:00 for the following following business
To toe^-e and consider the nnaal financial statements in
respout of the year ended 31st December 1974 |
0
* ;
2 los efect directors in accordance with the pivisions of the
a any shares offered to
in
shareholders the Corporation bu
way of tights issues but not taken
by the persons
emiledikereto emiledikeretoemiledikereto and
up
any shares resulting from the consolidation of any trac
Ene
tional entitlements in respect of any shares isstted in
paragraph pursuance of
gisgis of this
provided provided
resolution The that am such shares which can be soid on
Johannes- Johannes-
Corporation's amides et association association
~
3. To consider and it deemed fit to pass with or without medilica-
tion the following following resoltation~ asan ordinary resolution nameki
bung
or London Sto^ Exci^ iigesat a net price in
excess of theissue price shallbe sold be the underwriters underwriters
2 and any excess the net proceeds of sale over the issue
Corporation Th^tthe directors be and they are bendy authorised
price be paid to the
forli Kingdom issueddesirous determine in
4
dielo dielo allor andissue after
The head officoe ffice and United
providing providing for the allotment andissue
registers of members of the
translet registers and thie
of ifte ordinary shutes terms of the share incentive scherae
Corporation will be closed from Teth
and the staff share option scheme all or any portion of the
May to 23rd 23rd May 1975
days inclusive
remaining unissued ordinary shares of 10 cents caci in the
Holders of share warrants to beater who
in person or by
or
of attending
capital of the Corporation such time or times to such
proxy
voting at any general meeting of the
person or persons company or companies and upon suci
Corporation must comply with the regulations of the Corporation under which share warrants to beater are
terms and conditions as they may
:
meeting to make
member entitled to attend and vote at the
is entitled
tij deemfit may
arrangements on such terms and conditions as they |
for the
subscription by underwriters of
to appoint a proxy to attend and speak and on poll vote in his
subscription stead A proxy need not be a member of the Corporation
By order of the board
:
L.T.GOLDFINCH
;
Managing Managing Sean diciary
28th April 1975 Registered onite onite
44 Main Street
Johannesburg
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Introduction
Anglo American Corporation is the head of an international
inmteirnnatiinongal | mining industrial andinvestmentinvestment companies In
international group
the
Ps
Corporation together with its close associates De Beers Consolidated
Fe
Mines and Charter Consolidated have important interests in the
of ae y 6 production gold and uranium diamonds copper and nickel coal =
a
platinum tin potash asbestos iron ore lead zinc and wolfram In
m^king ; .a , indirsity the Corporation'sCorporation's interests range from and
and heavyengineering to construction nator vehicles paper
1
textiles chemicals drilling tools refractories and foodstuffs It
:
- ako active it property development and insurance in Southem
ee
=<}
Africa
"
fo TheCorporation's investments ar held mainly through a number
S specialised companies Anglo arveleon arveleon Gold Investment
Company holds gold mining inteAnrgle o Asust1s 2an Investment = Trust diamond mining and marketing investments Coal mining interests are held by African and European Investment Company
and by Vereeniging Estates and industrial and commercial holdings
by Anglo American Industrial Corporation Minerals and Resources
Corporationis taking an increasing part in the Group'sGroup's international
mining basiness On a geographical basis there are Anglo American ,
Corporation of Canada Anglo AmericanCorporation Rhodesia
Zambia Copper Investments and Australian Anglo American
ay Rand Selection with which Anglo American has been closely associated sinceits formation holdsa diversified spread ofinvest-
ments similar to those of theCorpor^tionitself and owns
Schlesinger Insurance and Institutioial Holdings
The term group has a wider meaning in the South African mining
industry thanits statutory definition of a parent company andits subsidiaries and throughout this report it is usedin its wider sense
The mining finance housesin South Africa have traditionally
operated the group system whereby the parent house not only
administers companies that are not necessarily subsidiaries but
provides them with a full range ofadministrative and technical
services and zable by vinue ofits financial strength and standing 4 to assure them of capital for expansion and development Thus the
= Anglo American Corporation Group comprises a large number of
companies that are closely linked to the Corporation but which
(
generally are not subsidiaries or controlled companies as defined
in the statutes De Beers and Chaner are separate organisations
not members of the Group tixough they do draw upon the
Corporation's technical services ?
hy
Corporation Oppenheimer and The
Ernest
Corporation has had only chaimmen the founder Sir , from 1917 to 1957 the present chairman
his son My Harry Oppenheimer This has brought a continuity of
s policy the activities of the Corporation whose aims are to cam
profits faits
and real
faits shareholders but to do so in such way as to make lasting contribution to the we ateof the areas and
countrieswhere it operates
~
Corporation's planted Africa The
in
Corporation's roots are firmly
in
where it
interests ' began its
there bothin mining andin a widerange of
industriesare continuing to grow Butits resources are also being
applied internationally in mining and related fieldsdirectly through Minerals and Resources Corporation and indirectly through Charter
and other associates Geological exploration similarly has become
world The Group is involved in prospecting programmes in
Africa North and
South and Europ
original The Corporation's
America ^finAustralia the Far East capital in 1917 was million which
was raised from British American and South African sources
hence the title Anglo American Corporation of South Africa The
present capital and reserves exceed R393 million and theAfrica
Corporation's investme usat the end of 1974 were valued at R1277 million The mining industrial and property companies
administered by the Group are valued at about R4 600 million
To illustrate the scale of its mining operations in 1974 the
Group was responsible for nearly 40 per cent of South Africa's gold output equivalent to about 30 per cent of world production texcluding Communist countries for per cent of South Africa's coal and a third of its uranThie cuoppmer mines in which the
Groupis interested accounted for over nine per cent of world
production 3
.
^
With nearly 17 000 registered ordinary sharehoklets and more
than 43 000 BearerBearer certificatesin issue the ownership of Anglo
is
American Corporation is widely spread The majority of the share
capitalis heldin South Africa The United Kingdom and other European countries hold about 44 cent
sinking below the collar of the men and materials shafi of _
assembled assembled temporary headgear enables sinking to proceed without
is internation while the permanent headgear being constructed
save several of This innovation will
inonths sinking time
D
Se
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i ests
*
American Corporation The consolidated profit ofAnglo
by R17.506 milli^nor 30
increased
per cent ~ oR75.746 million which after
deduction of preferred dividends is equivalent to 57,4 cents an
Cordinary share The total dividend on the ordinary shares was
Increased by five cents to 29 cents a share
companies amounted theandinterests The value of the Corporation's listed investments was RI 058
smillion a decrease of R56 million over last year An analysis by
primary source and geographical location of the Corporation's
direct investments and the underlying investments
holding
compCaonripeosraitniwonhiacnhdiittiss interested is given in the table ophpoolsdiitneg
associated finance companies had
valued at about 800 million in the mining industrial financial
oatnadlpvraolpueertoyf companies that the Corporation administers The
these
In
to abou R4 600 million
addition the interests of the Corporation and of its finance
companies
De
companies
in
companies
administered
outside
the
Group
such
Beers Charter Consolidated and Engelhard Minerals
Chemicals
Chemicals were valued at more than RI 700 million The
alue of the interests of the
overall
Corporatianodn ompanies at the end of
its associated finance
1974 was therefore about R3 500 million
Bnd the overall size of
pproximately the Anglo R6 300 million American Corporation Group was -
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. ; ,
;
356
;
;
South Africa and South
West Africa
ws ; an
42
42
INCOME FROM
.
INVESTMENTS Co 1974 19731973
1974
a mS 38
:
:
4
weedy
18/195 18/195
18/195
18/195
North America
Australia _:
NVESTMENT COMPANIES .
a
Land Selection Corporation's consolidated
30th September 1974
net profit for the year
rose by R18,0 million to R43,9 million
\ nd the value of its general investment portfolio amounted
price Fe
jontributed significantly higher gold Rand Selection and Insgotlditruetsuiltosnal grouacpquiredacquired .
:
. significantly
hc Schlesinger Insurance
1974
.
Institutional
Institutional
Holdings
Holdings
with
of
ompanies
National
ompaniLesimited 1974 whereby
February reached whereby Barclays National capital quired the entire equity
of Western Bank
per centequity Anglo American Gold Investment Company again benefited
ubstantially from increased dividends declared by its gold mining
nterests and its consolidated profit for 1974 rose by
R75,3 million
can
4
Anglo
American
Industria
Corporation's
consolidated
consolidated
ose this year by 36 cent to R28,5 million
profit
Anglo
American Investment per cent arnings by 21
Trust Limited increased its equity equity
R29,4 million _.
.
Working cosas at Group mines rose by 31,8 per cent to
of price ton milmilleld ed . The price golgold d on the free
R14,33
1IS market rroose se from 1IS 1IS
an
ounce
in
January
1974
to reach
the
record
figure
of 197,50
;
in
December and was had the effect 5178 on 14th March 1975. These higher prices
have of ;
significantly extendingmakinggrade areaspayable thereby significantly
ore reserves
life
ea
over the of mine a
ns
a
URANIUM
profit from acid decreased 803 incres there The produced _
Group
tons in
ce
Dat
1 023 tons of uranium compared with
1973. Owing to a lower level of contract sales working
uranium and
to R1,3 million but
are signs that demand should
the oe decade ;
an substantially the end
ae
;
GOLD
;
1
DIAMONDS ... Mainly as a result of mining lower grades of made
=
by
higher gold prices production by
ore
economic
Group mi^-es by the fell by 46 200
which is about 40
of South
per cent The Communist
of world production excluding
648.4
Working profits rose by 48.6 per cent to
million of which taxation and the State's share of profits
_.>
approximately R363,6 - mounted to
_
million or 56,1 cent
|.
_
~
Sales
of gem
and
industrial
diamonds diamonds
Organisation in 1974 fell by R72 million or 7.C8enpterracleSnetlltionRg849
million consolidated net profit attributable to De Beers
Consolidated Mines decreased by R36.2 million to R201.3
equivalent to 56 cents a deferred share after
million
preference dividend Total output ofthe De
allowing the
os
*
068 183
Beers group was
carats which was about two per cent more than in 1973
oe
>
IFsEsuAeTd URES capital and R OF THE CONSOLIDATED
FINANCIAL STATEMENTS
eo
ordinary reserves
ley
;
seeene
#
.
1974
2
R
1973 ;
of 388 000 Book valuliseted investments
000 tow' Market value listed investments : of 978 Book value of unlisted invesUMENIS Directors valuation of unlisted investmiems __2 Investment income investmiems :
wen 5
wees,
mo
on
*
834
293
000
345 349 167 000
| 057 |.
_
1.113 943 000
732 117416 117416 000
218 785 000
*
Equity camings ~, Equity camnings share
Dividend per ordinary share ____
Total ordinary dividend Se
.
ee wee
73 298 000
75 460 000
57,4 cents
s 29s cents ' -
wae
51017000 51017000
57 954 000
44.6 cents
24 cents
.
38 000 31 176 000
Not available
131-387 131-387 300
129 889 300
1972
-
R
314 204 000
350 609 000
1162 000
..99 337 000
mh
*
44 679 000
45 379 000
34.9 cents
19 cents
24 674 000
_
_
_
200 129 858
COPPER AND OTHER MINING
a There was a sharp decline in the London Metal
31
copper in 1974 from a record 400
Exchange price for
ton in April to 554 in
. The average price for the year was 877
727 in 1973
compared with s
.
The value sales copper of Copper Mines in Zambia Production finished copper at Nchanga Consolidated
rose from
was
tons
of the
of
and
K423 million in 1973 to K522 million Production of
zinc improved to 83 039 tons from 78 101
lead
- Hudson Bay Mining and
tons
additional tax burden in Smelting Co. was subject to a substantial
44.58 million
1974 and net earnings fell from Canadian
:
to 38,58 million or 3,88 a share
mine a improve nickel modifications are being undertaken to the plant of Selebi Pikwe ^finBotswana to
milion
R9,62 million while Scaw
maiclhlieivoend record earnings of 29.12 million an increase of R2,02
Highveld Steel and
Corporation
VanadiumCorporation achieved record
vandium
year
- The Cleveland Potash mine in the United
~~ production in October 1973 continues to buiKldingdom which began
PROPERTY ::.
A be vehicles opplearnanteidonaanlnual rate second shaft is expectedutpo profduulcltyion to its The Group's principal pr.operty a bgp Anglo 8 ;
-
American shortly Properties ma
and Sorec
Amaprop Anglo American months an
|.
to 31st
reported a loss
000 in the
and Sorec showed August 1974 compared with a loss of R1 005.000 005.000
Net profits of Group collieries rose from
R2 19 600
an increase taxed profit of nine cent
for the June 1974 million and sales increased
R8,4 million to R10,3
mo
year to 30th
which
by 5,5 per cent to 21,0 million
.
per cent represents 32,5
of South African coal
tons
CHAIRMAN'S STATEMENT
{E.- 1974. Coal reinforced its position as the dominant production in
A statement by the Chairman of
in South Africa during the year
energy source
Oppenheimer will
ae
Directorate
CHAIRMAN
_
H.F.Openheimer H.FOpenheimer H.F.Oppenheimer
DEPUTY CHAIRMEN
Sir Keith Acutt British "
W.D.Wilson W.D.Wilson
DIRECTORS
F.S. Berning
W.G.Boustred Dr Z.J.de Beer D.A.Etheredge.O.B.E D.A.Etheredge.O.B.E British G.C.Fletcher G.C.Fletcher M.C.
H.R.Fraser H.R.Fraser British
|
C.J.L.Griffith E.P.Gush
M.B.Hofmeyr N.K.Kinkead N.K.Kinkead British G.Langton G.Langton
Nicholson British
N.F.Oppenheimer
Sir Philip Oppenheimer British
G.W.H.Relly Sir Albert Robinson British
S.Spiro S.Spiro M.C
J.Ogilvie J.Ogilvie Thompson
G.H.Waddell G.H.Waddell .M.P
ALTERNATE DIRECTORS
Dr M.G.M.Atmore M.G.M.Atmore
Smith British
A.W.D.Darvall
H.K.Davies H.K.Davies Dr H.B.Dyer H.B.Dyer
W.J.Hefer 5
D.B.Hoffe
-
J.A.Holmes British F.J.A.Howard F.J.A.Howard
J.D.Johnson British
A.Johnstone
Q.P.Koevort
S.B. Kossuth
P.J.R.Leyden British : *
D.E.Machver A.B.McKerron
C.D.M.Melville C.D.M.Melville British M.C.O'Dowd M.C.O'Dowd B.W.Pain B.W.Pain British
2. M.W.Stephenson M.W.Stephenson British : A.Wilson A.Wilson
EXECUTIVE COMMITTEE
H.F. Oppenheimer
:
Kit Kenh Acoil
W Poenarod DA Etheredge
G.C.Hatcher G.C.Hatcher
NSS tanec
L.Grilt~ kL.Grilt~ k
M.B.Hmeyz M.B.Hmeyz M.B.Hmeyz GWUF
GWUF GWUF Relly Relly
Sit Albert Rob^mani
Sp^tis
1 Ogilvie Ogilvie Thotazymanesfi
G.H.Waddell G.H.Waddell G.H.Waddell
W.DWikomi W.DWikomi W.DWikomi Abensbas od agerating agerating coQuir
MANAGERS
.S Berning
B Bullett
G.A.Carey G.A.Carey Smith
H.K.Davies H.K.Davies
Dr Z. Jade Herz
1.C de Zwan
M.W. DuninghaDm unningham IL De
E.P.Garsh E.P.Garsh
W.J. Heter
D'H.Holle D'H.Holle
ELA Howard A. jo ustom
MW King
NK Kinkead Werles
O.P. Korvol
S. Kossuth~-
PLRfeuden PLRfeuden M.N.McCr^,,m M.N.McCr^,,m A.B McKeton
CD.M.Mchille CD.M.Mchille D Nicholo
M.CO Dod
10rgan B.W.Fain B.W.Fain
V.L.Webber
A. Wikon
CHIEF ACCOUNTANT fi
G.Cleeman os G.Cleeman
;
.
ECONOMIC ECONOMIC CONSULTANTCONSULTANTCONSULTANT
A.B.Dickin A.B.Dickin :
SECRETARY : MANAGING SECRETARY J. Goldfinch
CONSULTANT MEDICAL MEDICAL
DiLLC Whitcanbe
PERSONNEL CHIEF
E. Cathtine
CONSULTANT -
8
SENIOR PERSONNEL CONSULTANT
LEDrysdale
PUBLIC RELATIONS
.
B.R.Metin
CONSULTANT
B.R.Metin -
~
a
5.
TECHNICAL DIRECTOR
G.Langton G.Langton
DIRECTORS TECHNICAL DEPUTY
Dr M.G.M. Atmore
A.W.D.Darvall A.W.D.Darvall
J.A.Holmes J.A.Holmes 3.D.Johnson 3.D.Johnson
D.E.Machver D.E.Machver MW MW Stephenisn
CONSULTING ENGINEERS
J.Airswonh T.A.J.Braithwaite T.A.J.Braithwaite K.Daniel
S.F.Gandar
V.W.Hall V.W.Hall
K.C.G. Heath W.R. Lawrie T.Lec Jones
A. McLeod R.A.Mudd R.A.Mudd G.Y.Nisbet G.Y.Nisbet -
T.L. Pretorius D. Rankin
H.J.Stucke H.J.Stucke
von Holdi R.G.Williams P.M.C.Wilson
CONSULTING CIVIL
D.W.StandishD.W.Standish ENGINEER
CONSULTING ELECTRICAL ENGINEER
A.S.Adams A.S.Adams
CONSULTING GEOLOGISTS
Dr F.W.D.Cornwall F.W.D.Cornwall Dr P.V.Freeman P.V.Freeman Dr J.B.Howkins J.B.Howkins J.B.Howkins E.Raman E.Raman R.J. A. Kemick LG.Murray LG.Murray | Dr. H.J. Nel Dr J.EOsten Dr Pienaar
Dr D.A.M.Smith D.A.M.Smith
CONSULTING MECHANICAL AND
ELECTRICAL .
P.P.Coetser P.P.Coetser P.de Klerk
'
G.D.Griesel D.H.Hillhouse
Purkiss AZHAZH W.
S.Sheet |.
D.W.Wantenaar D.W.Wantenaar
CS.West
CONSULTING
B.Baslin B.Baslin
METALLURGISTS
Chani
R.M.Chatton R.M.Chatton
, A.D.Deuchar A.D.Deuchar -
W. Ruhmer
H.S.Schwartz H.S.Schwartz
J.F.Slabbert
CONSULTING ARCHITECT ARCHITECT
Yetton
RESEARCH MANAGER
G.S.James G.S.James
i
Finance and investmem II
Gold 16 Eas
Diamonds 20
Copper and other mining 23
Coal 27
|
Industry and commence 30
Property 35
Exploration and research 37
es
the tedeniasi tedeniasi director director vt
ae eae) eros
Finance and investment rene
panies within the SII group so that at 30th September 1974 the
Rank Selection group's equity interest in
Assurance
African Eagle Lite
Society Limited was 75 cent in Westerii Bank
Limited just under 70 per cent in Soree Limited
Consolidated net profit attributable to the Corporation Corporation for the year
47 per cent and in Metal and
approximately
Limited about
Minerals Investment Gorporation Gorporation
ceat
000 dose by 300 per cent to R75 746
or 57,6 cents a share compared
per
and Premier Finance Corporation Pro-
with R58 240000 or 448 cems a state for the
priet^ry Limited and Townsview Estates
December 1973. Ordinary dividends
year ended 31st became wholly owned subsidi^tiesIn
Proprietary Limited
distributed amounted to 29
February 1975 agreement was
cents a share a five cent increase Amvestment Amvestment income for the
reached with Barclays National Bank Limited whereby they would
rose by 44 per cent to R73 298 000 and net
fees and other sources after
income
year
from interest
make an offer to acquire the entire
in exchange for new A
equity capital of Western Bank
deducting ^dministrationexpenses was
ordinary shares Rand Selection has
27 per cent higher at R22 599 000. The surplus on realisation of
announced its support for the offer which is
shortly Rand Selection's
expected to be finalisai
investments amounted to R705 000
1973
compared with R5 000 in
ended 30th
consolidated taxed profit for the
year
a when a large portion of the Ce soration's interest in U.A.L.
September 1974 tose by B18.0 million to R43,9 million
hare acquisitions Holdings Limited and its entire interest in U.D.C. Bank
cents were sold Prospecting costs increased
Limited
Earrings a were 13,6 113,6
adjusted the SIF compared with 76,1 cents in the
during the year
An amount of R7 000
by 26 per cent to R4 445 40
year These higher
previous financial
was provided against investments investments
earnings which were largely attributable to
com-
pared with K2 654 in 1973 and R1 000 was provided against
significantly increased income from the group's interests in gold mining allowed the dividend
loans this year The provision for taxation
by was R4 614 000 lower at
to 70,0
distribution to be raised 17,5 cents
000 largely because of the lower surplus on realisation of
investments in 1974. The profit attributable
cents a share ^ major portion of Rand Selection's income
is derived from investments ^fin companies which
do
which subsidiaries decreased
to outside interests in their camnings in full
not distribute
Conseq^"^'mly Selotion's of by R261 000 to R3 000. An amount of
if Rand
share these
f^r holdings R824000 R824000 was transferred from the currenscy reserve
undistributed profits alter adjusting cross
were to be
foss arising from danges in currency exchange rates cover the
taken into account its total earnings would have been 200
share against 145 cents for the
cents a
The listed investments of the Corporation and its subsidiaries had The value of
year ended 30th September 1973
market value of 057,82 057,82 million at the year end ilus excooding the book value by R763,24 R763,24 million At 14th
Rand Selection's general investment portfolio taking listed investments ar market value ami unlisted
value was
Mardi 1975 the market
directors valuation
investments at
virtually unchanged unchanged at RT 054,18 million The director^'
Valuation of unlisted investments investments at the
amounted to R885,3 million at 30th September 1974 compared with a book value of R268,7 million
million 40,5
year end was R218,79
On 14th March 1975
:
of The
per tem greater than the book value R155,73 million Limitada
Anglo American Corporation do Brasil
estimated value of the mining finance industrial and
Ambras owned by the Group and its associates associates acquired
administered property companies
by Anglo American
49 cent equity interest in Minera^^Moorto Velho SA This
tion was
Corpezas
of approximately 600. million at 31st December 1974
company has operateda group of small gold mines in
Minas Gerais Brazil since 1830
the State
and
Or that total the interests of the Corporation and its
finance
associated
surface rights in the
also owns other mineral a~-r
di
companies listed in the table overleaf -accounted for about
adjoining area Ambras will provide technical
with of 800 million which together
interests valued at almost
assistance to the company and its present production AN IOTIS
R17067 million in finance
ore a month is expected to be
increased panies administered
investment and operating -com- perio
;
significamly within short
outside the including De Beers Consoli-
:
Investment dated Mines Limited Charter Consolidated Limited and
Minerals and Chemicals
Engelhard
Anglo American Gold Investment
had an excellent
Company Limited ( Xingolda Xingolda
year in 1974 with its substantial
Corporation mining in interests the
makes the overall value of
and uranium
interests gold
companies Corporation and its associated
benefiting significantly from the
finance on #therefore approximately 500 million
companies
compared with 83.000 83.000
continu~ ibuoyancy of the gold price the free market Investment income increased by 71 per cent to R7235
31st December 1973
million and was largely
Rand Selection Corporation Limited is a finance and investmen
responsible for Amgoli 'sconsolidated net profits rising by 75
company with interests in gold diamonds copper and other base
cem 91 R3233 million to R75,3 million for the year ended 3p1esr
December
1974.
1974.
Dividenes distributed
metals coal platinum industry and property The
Selection's Selection's
spread of Rand
105 cents to 250
increased increased accordingly
int^'resiswas enlarged by the acquisition acquisition
cents a share Although the book aint of listed
i by 1974 of Schlesinger Insurance and Institutional
April April investments Bad only risen marginally R2,6 million
SH with as significant investments investments
Holdings Limited million during the year the Arstained demand
to Klivs
development and
in the life insurance property
Shares resulted in the marke
for gold mining
Selection banking fields The Rand
Selection group inclu- inclu-
bv43
value of these investments investments incioasing incioasing
subsequently aquired aquired further interests in certain
cent to RF 241,6 million at 31st ovember 1974
com-
The oquity camings of Anglo American Investment Tinst Uima-
ii
11
5
Directors review
"
9
Seem ay
NET ASSET PROFITS EARNINGS AND DIVIDENDS DIVIDENDS OF THE MAJOR GROUP FINANCE COMPANIE
a
on consolidated
Financial tax iN
u
profit after Equity Dividendsper vest endel
Julance and outside
earnings per
interests
ordinary share
ordinary sh^/re
. -
2
1974 1974
1973
1974
1973
1974
1973
1974
1973
ae) i)
oy
million
mF R million 2
Anglo m^'tben GONIS IDs American Corporation
d
cemis
Cenis
00.00... vanee
31st
Anglo December American Corporatiory of Canada 00000
Anglo American Corporation Risadesia 0
Anglo > | CAM American Gold InvestMM
314 December 10th June
Decembe
12188 1097.10097.0
75.7
CSSLS CSBLI
Csis
79.9 Rh569.7 2.6 ,
12804
582 CS14.1 RES2.9
57.9 76,0 Rh25.9
tio C1563 202
29.0
40,0
~
243
_
33.0 Anglo Amerkan Industrial Corporation Corporation
Anglo American Investment This s-
Minerals and Resources Corporation 0000
Selection SS2I0u8 Rand
Corporation 0
. September 113.6 Vereeniging Estates .
-
ween
nee eee ee
Zambia Copper Investments 20 see fae?
31st December 31st Decembr
30th June
314 December
2
30th June
223.7 223.7
2124 2124
2818 USS224.7
4381
850.1 732.3+
68.45
55.7
275,9 274,99
fs
28.3
,
29.7
20.9 24.7
29.7 19,3
43,9
2509
$
aa
USS549 USSILS
343,0 116.3
1944 US93.6
213.7
USHS
195.9 35.4
243.6
2500
57.5
0
290.0
US70.0
76.1
720
186.5
115.0
26.0
US400
145
we
2408
il
15383
525
Tee U5243
Listed investments investments at market value and unlisted ar baso^value
shares Indudes the
in Charter Consolidated Limited beld
by Holdings Limited at market value
:
Rhochar
al
Indiades unlisted investments investments at directors directors valuation
Inclades pi^,,pertyat sworn appraiser's value
AdjuCeceivesd ted to reflect that profits from new
a subsidiary Ceceived for only portpiortion on of the year subsidiary
companies were
Excludes equity sccounting for effectively controlled companies
ted Anamint^ rose by 21 per cent
million for the year ended 31st
R5,1
million to
K29,4
paid
December 1974 and
dividends amounted to 290 cents compared with 240 cents
the previous year During 1974 Anamint acquired furthera1 s0h1a4re00i0n
a deferebshares in De Beers Consolidated Mines Limited its
investment to increase its
major
shareholding to 94 252 % defented
shares The decline in certain share prices during 1974 resulted
this sh"fcholdintgogether with
in
Industrial
a interest ^finAnglo American
Corporation Limited having a market value of R251.2
million at the year end against R4424 million
1973. This va^finehad
at 31st December
risen to R293,1 million on 14th March 1975
In addition to these listed investments
investments Anamint has major share-
holdings in certain unlisted
diamond trading companies The
growth in Anamint's canings is mainly attributable to the
final and 1974 interim dividends
1973
received from De Beers during the
war being five cents a share higher than 1973's total
195 cents a share De Beers consolidated net profit waresceRip2t0s1o3l
million for the sear ended 31st December 1974
million million and dividends declared
compared with R237,5
declared rose by one cem ^ share to 25
Anglo American Industrial Corporation Limited tAmic inccreeanstesd
US consolidated net profit 36 per cent to R283
for the year ended 31st December 1974 and dividends dividends weremiralilsieodn
19. 75 cents a share to 575 cents Amie's subsidiaries all
formed well with Bean International Limited and Scaw
per-
Metals
a
particularly Limited achieving
good profit
sulsidiaries and major investments are growth The company's
industry and Commerce section
reviewed in the
this review on pages 30 to 35
The equity earnings of CharterCharter Consolidated Limited the United
MaKricnh g1d974om mining finance company for the year ended 31st 7
28
increased by 3.4 3.4 million to 15.9 million a rose
|
per cent
livestment income rose by 27 cent to 13,3 million
and Charter's trading profits showed a further
of 26 per cent to 7,2 million
substantial increase
by its major industrial
largely as result ofhigher profits
Cape IndTuhsteries underlying profits subsidiary Compared Tin p^et/kenz d th The Cape Asbestos
Limited formerly |
Company -Limited companies were also
results of associated
retained
greatly improved and Charter's share of
earnings amounted to 3,4 million LI million the year ended 31st
with a bes
for this turnaround
March 1973. The main c^tso &
during the financial year were reduced losses ftem
the Somima copper mine ^fin Mauritania and
Wolfram Limited on its
from Beralt
highe profits
mining operations in Portugal In addition
were achieved by Anglo American
of Canada Limited which for the first
Corporation
.
time included the underlying
coinings its own associated companies The
directors valuation of Charter's
market value
to 351,3 million at 31st March i1n9v7e4stments tose by eight petkez
increased book
compared with a margine
cost of 184,4 million
to 30th September 1974
Earnings for the six momin
momin ^fincreased0,6 million to .8.2 million
Directors review
mc
August 1974 Ch^/rterpurchased 13.25 per cent equity interest in
Haw Par Brothers International Limited Singapore com pany with tin mining imdustrial trading and financial interests in
as
2
,
WN
&
Z
IMPACT OF INTEREST RATES ONS A CAFINAL FLOWS
:
a
bos
and In August 1974 Minerals Resources Corporation Limited
Minerco formerly Zambian Anglo American Limited broadened
the base of its investments by acquiring from theCorporation other associates their ordinary and preferred stock
holdings in Engell Minerals and Chemicals Corporation EMC in exchange In nets A ordinary shares in Minorco terms of these arrange-
ments the dividend payable on the A ordinary shares will be
limited during the period to 30th June 1976. the income received
Minorco on the EMC shares acquired and thereafter the A
to ordinary shares will be redesignated as ordinary shares rank
passir with Mino yco's present ordinary shares As a result of Minorco's subsequent conversion of its 20.7 per cent preferred stock
holding its interest in EMC rose to 30,6 per cent at the year
holding Furthermor prior to 30th June 1974 Minorco acquired an ective interest of just over 43 per cent in Trend Exploration
Limited inquoted an
United States oil and gas exploration
norco will now play a greater role in the new business of the
reted glo American Corporation Charter
in areas not
groups reted by their regional companies
~
Minorco's to main source of income continued be its 49,9 per cent
s
!
gity interest ^finZambia Copper Investments Limited ZCI which
fils substantial interests in the Zambian copper mining industry
ough its holdings of 49 per cent of Nchanga Consolidated Copper
of nes Limited NCCM and 12.25 per cent Roan
Thechanges Consolidated industry Limited RCM
in the operations of the
posed by the President of Zambia in August 1973 have now been Oo
last the bonds thereby enabling to plemented As mentioned year Zimco
were re-
emed
legislation to be passed change the tax
tem applicablteo NCCM RCM and to subjec dividends
tax presenily d by the two mining companies to withholding
- cent and to Zambian exchange control regulations The
adversely el of ZC~ sdividend income has consequently been ected and since the exchange control authorities now allow ex-
nalisation the mining company dividends only once a year
each case appropriate changes have been made ZCI's own
fidend patterri The formalities to provide for management
NCCM were completed 15th November 1974 with retrospec- |
new arrangements effect to 1st August 1974. In terms of the _
agreement under which the Anglo American Corporation Group-
ovided management technical consultancy metal marketing d'other d'other services to NCCM was terminated nearly 54 years
before scheduled expiry the managing director NCCM is now
minated by the Government as the majority shareholder and
Metal Marketing Corporation of Zambia Limited
a owned mpany has become NCCM's sole agent for the marketing of its
sum original oducts As compensation for the early termination of the
reements with NCCM the
of K33 million is payable in 12 |
arterly instalments The Corporation has however upon request
LOW pete werineis sine
di
Se eeteaeer sane
a Praineracace
OF Punk sence
fo PRES, Ata
eventuderandes
speon to which al
eventuderandeseventuderandems it belandas
Directors review
from NCCM undertaken to supply on best endeavours basis
various services which currently relate to overseas purchasing recruiting and engineering services Similar selfmanagement management
arrangements have also been implemented for RCM
The high level prices for copper on the London Metal Exchange
) which prevailed during the greater part of NCCM's financial year ended31st March 1974 enabled the company to earn record profits Net profit after taxation amounted to K113,2 million compared with
by K83.4 million in the previous financial financial year and dividendflruse
K31,0 million to K67,0 million while appropriations for capital
expenditure increased by Kox million to K46,0 million ZCF's
dividend income for the year ended 30th June 1974. from XCCM
million and RCM was U.S. 42.4 million and 7,97,9 million respectively to
total 50,3
after deduction of withholding tax of 59,7
million compared with 29,9 million received free of withholding withholding
tax the previous financial year ZCP's taxed profit increased by 72 per cent or 23,0 million to 54,9 million and dividends are
by 64 per cen to 40 L_S cents a share ZCI declared a dividend dividend of
RCM'S four cents a
share in November
1974
1974 following teceipt of RCM'S
dividend incomte for the three quarters ended 30th June 1974
. Minorce's other major investments also performed well during
1974. EMC had an outstanding year with a markedimpriovem mprovemem
in the results of all three operating divisions kamnings more than doubled from the 1973 record level ofU.S. 52,51 million to 110,16
million and on a filly diluted basis earnings a share increased
from
1.64 to 83.42
The
annual
dividend
distribution
:
rose be
27 enito 70 cents a sh^te This achievement was largely due to
the high level of activity in metak and minerals trading with
increased interest in precious metals Trend Exploration's Exploration's carningss increased subotamially from U.S. 1.7 million to 10,0 milliw
interest with the year ended 501h June 1974. Trend's major asset is ^ 27 percent
in a production sharing contract in Indonesia
Per-
tamina the State oil company Considerable development of
insel taken place since the acquisition and productive
insel insiel nsel yas iknu been expanded to 120000 barrels a day In
addition Trend has a wide spread of international explotation explotation
activities activities and has oil producing
Canada producing :
assets in the United States and
;
.
2Mineral's 2Mineral's consolidated net prolit for the year to 30th June 1974
at 29,65 million was 54. per cent or 10,38 million higher
than in the previous financial year and dividends totalling 70 cents
@ share were declared prolifs for the six months ended 31st
December 1974 amounted to 3,76 million and were adversely adversely
affected by the change in Zors dividend pattern An interim
share -dividend-dividend of eight cents a
share was paid on theordinary shares
;
7?
Limited During the year ended
Composition of Canada
31st
December 1974 Anglo American Amicani recorded net inomie
on equals dccounting basis of Canadian S11.9 million or 120
cents a share a decrease of S111 million from that ca^flned in
1973 Divdends Dividends paid remained unchanged at 40 cents a share
The mayor factor factor in Am^/usincome is its dited and indirect
imerest in Huison Bay Mining and smelting Co. Limited Hindson
GROWTH OF SOUTH AFRICAN P AND EXTERNAL TRADE FOTN TAT Kes ET
=
>
Ly
Lagwats
=
Gams Sahearr ys ged Owner Puttiy
Ventanale r^'uansvirr^'uansvir
er o
4
; focwee
7 4 :
ot
a
bd
?
a :
7.
2
=
= %
" ou
Bay which was adversely affected by higher taxation charges
imroduced in 1974 with the result that its earnings and dividends
were significantly reduced During the year Amcan's direct interest in Hudson Bay wasincreased increased by the disposal of its interest in
Western Decal^>a Petroleum Limited in exchange exchange for combination new Hrads^nBay shares and cash Amcan's prooff i protfists after
amsonisation of part of its investment from its 17 per cent interest
in the joint mining venture in the Yukon with Whitehorse
Mines Ltd. and Hudson Bay amounted to 1,01 million a
6,2
Copperpei vent increase over 1973. Amcan's net asset value taking
equity investments at market value and usingthe market value of
the underlying investments of Francana Developmem Corporation
Limited in which Amcan hahs as 40 percent percent interest tell to 82,3
million at the end of 1974 compared with 140,5 million a year
1974 earlier
during
reflecting the general decline in stock exchange pri~ es
sul iantial The Vereeniging Estates Limited has
shareholdingsshareholdings in
number of coal mining companies a controlling interest in
mineral Vereeniging Refractories Limited and owns propeity propeity mineral and
coal rights in the Transvaal the Orange Free State The com
jamy's jamy's consolidated net profit sebisebi R0.75 million to R5,88 million
for the year ended 31 December 1974 and thedividend
five a dividend distribution was increased increased by
cents to 115 cents share
orTeOtee
tai St, I. PI ee
ET Ba ILE IVsIt Peareas
IADUeland Sete Wet bury fol^sshares are given on pages 7) fyeed
a
given
Directors review
-
Oe
Significant mining expansion planned
The year opened with gold in strong demand on the European and London bullion markets Frein U.S. S115 an ounce in London'at the
beginning of January 1974 the strong upward trend in the price
continued with only minor interruptions to reach the then
- record London fixing of 179,50 on 3rd April 1974. The price
however began to driti downwards and had by carly July fallen
to 129 For reasons outlined later the price began recoveting
and towards the end of the same month it had risen by 30 to 159
within For the next three months the price remained
on either
side of 150 and at the end of October was fixed in London at 167
Renewed economic uncertainties resulted the price moving up to a record 190,50 on 18th November and having declined to 184
- the end of November it rose to a new record figure of 197.50
in London on 30th December So far ^fin1975 the price has fluctuated Between Between 170 and 185 and was fixed at 178 on 14th March 1975
The spectacular increase in the gold price particularly in the first and last quarters of the year was attributable to an underlying
imesament demand boosted by a substantial demand from specu-
lators who became active in the markets in these two periods In
fact the nine into gold by investors hoping to protect capital in a period when other forms of investment presented little attraction has been the main element in the steady increase in the price of gold since 1972. Several factors contributed to the sustained specuLative buying of gold which occurred in the first three months of
1974. Initially rest^>mulatedby the Organisation of Petroleum Exponing Countries oil price increase in December 1973 demand
cominued against a background of unsettled foreign exchange
markets and the failure of the Committer of Twenty to make any
progress towards monetary reform Progressively more gloomy prognostications of the likely effects of the balance of payments difficulties facing the western industrialised nations added to the
Climate of uncertainty in a world already in the grip of tampant inflation Rumours that European governments were close to
^greementthe remobilisation of golfdor the settlemem of EEC
debts strengthened demand further and gold was being traded at devels which were not to be achieved again until towards the end
of October October
:
z= tailed
.
But the price tailed to break through the 180 level April
Speculative buying lost impetus ani as the chances of another major
became upward movement receded this sector of the market
^ ne
seller A period of relative calm on foreign exchange markets and
high interest rates led to further reduction in activity on the
bullion markets and the price fell back to the 130 level South
Africoan f^"lanceof payments considerations continued to sell
virtuailalel its gold piediction Russian sales hirvever cease
were bot tenewed in any volume until the last quarter of the year
the third quarter the political and economic climate in the
United States and in Europe particularly in Italy and Cyprus resulted in renewed activity in the markets The announcement
that Americans would be allowed to own unwrought gold on 31st December 1974 the two billion dollar backed German loag to
Italy and buying by industry the jewellery trade with the close
of the European holiday season were the main factors behind the
demand which took the pric^back into the S150's The IMF meeting in Washington in October again focused attention on the world's
di a
:
oF
GROUP GOLD MINES Escaladom erevenue andre iina so ge^-dprice
We ctr cA AS sr S ute
Mee bibtie 2" domme Grornan esgensn re
75253 Se Std ate's State's sturexfords sturexfords
Warung Cons
Maritity. saree oer
Mek tS Badger ag Taste
ZmajevnENSIS
M
Aur ganceer reserve
economic economic problemis This together with the building up of inven-
tory stocks ahead of the opening of the American market brougint
demand back to levels similar to those prevailing earlier in the year
the Early in December the U.S. Treasury announced auction of two
gold million ounces of
for some time the
surprising and on a
While a move of this kind had been expected expected
quantity of gold to be offered was perhaps nervous market the price fell 15 in two days
to touch 170,50 It soon recovered as a mere rational interpretation
of the American mine prevailed and the news of the Martinique accord became known When the auction bids were opened on 6th
January 1975 applicatihoand been made for less than half the two
million ounces on offer The General Services Services Administration
oe
all decided to accept bids for 750 ounces rejecting tenders below THE GROUP'S MINES
sales S153 The average price for these
was 165 an ounce Follow-
Gold
a
its gold Chek ing the decision taken at Martinique France revalued
production by the mines administered Anglo American
in Corporation was also at lower level
at 299 900
being reserves at 170,40 an ounce
.
kilogramis
Me
previous Pieliminary estimates of the quantity of bullion used by the g2ra0de0s kwielreogrreacmosrdeledssat tahllanGrionupthmeinpreeviosus year Linver recovery CTE
jewellery industry ^fin 1974 show a continuation of the decline which BR has become apparent since the upward movement in the gold price
The Group's milled tonnage fell by 3.5 per cent or 59 000 TONS
to 034 000
in recent years The 1974 figure will be less than half the
tons and unit costs rose by R3,46 or 31.8 per cem
tonnage
used in 1972. However other industrial demand has not changed
do RJ4.33 a ton milled As resuit of the high average price received of R3 358 a kilogram ot about 154 an
significantly The amount of gold absorbed in the minting of coins
ounce working
in 1974 was on the other hand four times
revenue at 007,1 million was 40,5 per cent higher than last
This is
higher than in 1973 year This additional revenue enabled the Group's mines to increase
attributable mainly to the lifting of certain restrictions on the working profit by R212 million or 48
importation of coin into the United States and the substantial demand for Krugerrand in the United
Taxation
and
State's
shate of
prolits
per cent to R648,4 million
tosse by R1188 million to
Be
the latter
Kingdom and Europe during R363,6 million equivalent to 56.1 per cent of working profit Ap-
part of the year In 1974 the minting of Krugerrand propriationscapital expendituretotalked 5.7 million
absorbed more than three million ounces of gold or about 13 per
with R53,3 million
million compared
Groupn^>^flnesGroupn^>^flnes cem of the gold mining industry's production Production
in 1973. Dividends paid by
excluding
h.
capacity company dividends from Freddies Consolidated Mines Limited
now exists to mint about 150.000 coins a week which if
a fully utilised could lead to over third of South Africa's 1975 production
and Free State Saziplaas Gold Mining Company Limited totalled
R209,9 million
being sold in the form of coin
compared with R134.3 million for the previous previous year
The economic and
an increase of 56,3 per cent At the Group's mines are reserves have
past political problems which have over the
now been estimated at pay limit based on a gold price 91 R3 AD
three years given rise to the demand for gold by investors and a kilogram or approximately 133 an
speculators remain largely unresolved and offtake by this sector kilogram used ^fin1973
oure against 800 a
-
of the market is likely to continue in the year ahead Industrial
demand is not likely to faltlo any extent below 1974 levels and
while the American market may not absorb the quantities forecast
more optimistic commentators 1974 mpon figures should be
exceeded this year If official American intervention by additional
sales of bullion from reserves takes place to bring an orderliness or
South stability to this highly volatile market it will be to the advantage
the
African gold mining industry
One of the most noteworthy developneris to take place during
1974
the decision to proceed at Free State Saaiplaas with with
an expansion scheme which includes the sinking of the nea
No. 3 shaft an estimated total cost of about RS1 million The area
to be exploited by the new shaft should provide a provide total mill tonnage
of approximately 28 million tons at a grade marginally in excess of
6.0 grams a ton The expansion pa gramme will result significan significan increase in the company's productiod capacity and tum ^into a
GOLD MINING THE SOUTH AFRICAN
INDUSTRY
scale prodiser mining relatively low grade ore The work to
|
The industry produced 758 503 kilograms of gold in 1974 which
establish the shaft d the necessary infrastructure has started and the shaft should be commissioned in 1979 and operating at full
was 93 822 kilograms or 11,0 per cent less than
of tion declined because of fall ^fin
1973. Produce capacity by 1981. The shat will have a hoisting capacity 000
a average recovery grade from 11,42
tors month and the milling and treatmem facilities at the mine
decrease grams 10.19 grams a ton coupled with a
in toanage are to be extended to handle 2000 tons a momli of which
a large millet of 0,3 million ions 73,0 million tons To
extent as
50000 t^nswill draw.i tom the
some
was the case in both 1972 and 1973 the tail
existing shaft area The milling
grade is attributable to the
in average recovery capacity at present is 100200 100200 tons a month and heatment capacity
ore mining grade m^depossible 000 tons the difference being made available to President
by the higher average selling
prices for gold These prices increased Brand Gold
kilogram has from an average of 095 a
kilogram in 1973 to R3 405 a
Mining Company Limited which under the amem arrangements milled ore treated on a toll basis
are
Indications Indications equivalent to approximately 594 and 5:56 an ounce respectively that relatively high manium vales will
in the
persist and working revenue from gold for the year nose by 44.4 per cem
Free State
is
new area
Saaiplaas to R2 533 million Average unit costs increased by R2.67 or 25,4 issue to
raising 835,1 million be way of a tights
cent to R13.18 a ton mili^dreflecting the substantial
stockholders of Presidem Brand to finance pan of this
salary and expansion programme is estimated that the balance of the tunds -
wage increases granted to employees together with the rising cod required will be met out of existing funds working profits and
of materials and services Working profits rose significantly by possible temporary borrowings The
will
R587,0 million or 59,7 cent to R1 570,7 million of which taxa-
company
remain a sub-
tion and State's share of profits for
will a^flssorbzpproximately
-sidiary of Presidem Brand which will hold 50,04 per cent of its
~
the 12.4 million
year
a^flssorbzpproximately issued capital Application has been made ter a stock stock exchange
or 51.7 per cent of working profit compared with listing of the entire issired share capital of Free State
Saaiplaas 568 percent in 1973
President Steyn Gold Mining Company Limited's inniai 25 an
mrking on TaY Keres za mrking an orderground i ot
eden Par lek. Kini + Hey Ste thie oncnlcted os
petostnost petostnost Zadow all the nines in tours tex Iniy
reason peamistet with the sound merives
Directors DONS
jon extension of the planned increase to its plant capacity will be
to completed by April 1975. This willincrease the capacity 240 000
tons month and will enable the conipany to process the tonnage
presently being milled and treated on a toll basis by Free State Saaiplaas The existing arrangement wherebwyhereby President Steyncan
mine ise farm Video No 305 is being tengotiated with Sentrust Be ezikThe intention remains that the farin will be mined from
the President Steyn No. 4 shaft system and in fact the underground
working are approaching the common boundary which will be
tribal during the year As the various
and national groups have
lived and worked together on these mines for many years it is
outbreaks violence oy disturbing that such violem cenflicts should have taken plazzli
is deeply regretted that these
of
led to loss
life and physical injury
Nw
NY
A highlight of the year was that for the first time mo of the
Group's largest mines Vaal Rects Exploration Exploration Exploration and Mining Company
Limited and Western Deep Levels Limited each recorded annual
working profits wellin excess of R100 million
penetrated during the latter months of 1975. Under the proposed new agreement President Steyn would be empowered to apply for and take cession of a mining lease over the farm and in con-
sideration for stich cession it would allot to the mineral tight holders number of new ordinary shares
Black labout disturbances at Welkom Gold Mining Company Limited resulted in an imbalance of Labour- between shafts and consequently a higher proportion of development than is normal
was undertaken at the lowergrade No. 1 and2 shaft areas Overall
developmen was however drastically cuntailed as a result of thie
shortage of trained men following the labezar troubles in February
1974
The agreement whereby Freddies Consolidated his over some
vers purchased milled one nom Flee State Goduld Mines Limited
1974. and Western Holdings Limited came to an end 30th September As the planned improrsments improrsments and extensions to the plant an Free St^teGeduld increasing the rated capocity from 000 tons to 215 008 tons month will not be ready before the end of June
.
Vaal Reeks No. 5 shaft Nah Nah has reached its final depth of
137 mettes below collar andis now being equipped and developeddeveloped
for commissioning during the third quanter of 1975. He extensions
to the Vaa R.els west taduction plant to increase capacity Hom 168 000 tons a month to 181 000 tons were delived because of the
expected late delivery of equipment and is now
sions will be commissionedin July this year
that the exten-
Peprograme
Peprogramme
Peprogramme for
the
sinking of the Vzal Reels South 2 No. shaft system has been revised revised
and it is expected that sinking of tise liist sh^/lt of this is^<nshati
increase system will stan carly in 1978. Planit extensions to
capacity
to 195 000 tons zilled and 210000 tons treated have started This
work should becomplete by mid1976
At Westen Dap Level the sinking of the No.
tertiary
vertical shaft was completed and sinking of the 2 No. sentiary gold subventical shaft is still in progress The extension of ti
extraction plant to a capacity of272 000 tons a month was com-
pleted and commissioned The Black labot position was versely affected by three disturbances which occurred at No. 3 slaa hostel
- 1975 a timber agreement to allow Freddies Consolidated to treat
between April and November 1974. These disturbance resulted
on toll fasis up to 050 tons of milled ore a month has been
the ns lives and injury and sympathy is extended to the
and negotiated approved by the Hon the Minister of Mines The
relatives relatives of those who who died and to abse ingred
rehabilitation of Free Stat^Geduld's No. 3 shaft whichis expected
At The South African Land and
to be commissioned shonly as a hoisting shafi will facilitate the
mine underground operations
Exploration Company Limited's
in the presem workings are
operations expected mining and increased prospecting of the northem area of the mine
10 continue beyond 1978Hier boreholes
Production Production Production from this shatt will over ^ period replace tonnage from
drilled to the souli and
are~ i present being
southwest No. 4 shatt where operations will dedine from 1977
southwest of the present mine workings
Investigations
No funther drilling is scheduled until the results from these bore-
isten rise potential of the north and northwest areas of Free State
holes have been eva^fltiatedwhen it is possible that the second
ee
west areas Gould's and of the south and south
of Freddies Consoli
the programme will be undertaken
phase
stam dated's lease areas are being undertaken but it will be some mol^^-^>s East Daggalontein Mines Limited the Group^>'ssecond
*
|
betone delnite conclusi^ns conclusi^nscan be reached
operating
ee
mine the East Kandivexpected Kandivexpected to comine mining mining underground
FMA
oe? The extensions to the mining and milling capacity at Freddies
_
umil the end of the year the higher gold price has prolongad ine
2
Consolidated are weil advanced It is expected that milling capacity capacity
Bill Shortly be iulance with treatmem capacity of28 000 199963
expanede month while the underground operations will be
from
a xpanded ibe cariem 5900 5900 tons month to 000 tons by October 1975
Ar Western Holdings funther extensions to the treatmeu and
life of this mine which at one stage was expected to cease under-
grond operations by mid 19741974 . During 1975 about a quarter of the
planned mill tonnage will be provided provided from underground sotinces and the balance will be drawn from the old Daggafontein No. Shaft waste rock dump
capacity milling section of the plant to raise
to 270000 tonsa
umbi 210 being undertaken and shouldbe completed in the latter
aka aka 1979
,
Another major event dining
In Vesten Ultra Deep Levels
nes mine to the south
the Chan was the ^/mneminemen
Limited of the establishment **
a Western Deep levels establishmentnei
During email 1974 ^perations at the Free State Geduld elkom and Western Holdings mines were disrupted and again 21 Western Holding in August 1974 by lighting amongst tribal gropings with the result that production production was substantially affected
company Elandsand Gold Mining Lompim Limited a wholly-
bwned of subsidiary WeQern Ultra Deep Levels mas tormod on
27th Juite 1974 to take cession and exploit the proqnod mining
lease Westen Deen leek will code
about 15 hectares of the
19
: Directors review
GROUP GOLD HIMES INCREASES INWORKI INWORKI COSIS COSIS
Good Good sacres per sem torktum~ nitorktum~ ni
Farmzyset Farmzyset White woekers Neri ete tes ger cane
Wages of black workers
es
oy
saludos e Loud bereits saluni~ saluni~ su
with
a
south and west portion of its lease area to Elandsrani in return for
a participation of approximately 19.6 per cent in the new company
SAFETY
A great deal of effort has been spent on the prevention ofaccidents
Safety committees are functioning on all Group mines and a system of safety by objectives has been introduced In the month period in December 1974 an improvement of nine per cent on the
fatality rate was recorded on all Group gold mines and further
improvements are expected in the coming year The Group Chairman's Safety Shield for competition among Group goki mines was for the second year in succession won by East Daggafintein Daggafintein Mines which also won the Chamber of Mines shield for a million fatality work shifts on 22nd March 1974. It is also plea ingto
record that Fresident Steyri Nos 1 and 2 shaft and Vaal Reefs No. shaft North achieved a million fatality shifts during the year
URANIUM
There are encouraging signs that the demand for uranium should
increase sub^'dantially towards the end of the decade and bey the
early 1980's could exceed supply Prices improved in 1974 and this
trend is likely to continue in the foreseeable future Although the
ibe President Brand plant remains on a care aintenance basis
position is under constant review in order to determine the opportune time 20 comamission the plant
Production by the two Group uranium producers Vaal Reefs and Western Deep Levels totalled 1023 tons as compared with 803 tons in 1973. Owing to a lower level of contract sales in 1974 the
profit from uranium and acid fell from the 1973 figure of R41 million to R1,3 milfion
Those mines in the Group which split their slimes residues intes
grade and grade fractions will continue to do with the :
grade fraction being
extrkiom extrkiom at a later date
stockpiled separately
for uranium
uranium
operating of by The detailed
Corporation Corporation
Corporation
and
those
results
in
which
mines administered
:
Anglo Amerizan
in
which
Group
Group
has
has
substantial
substantial interests site
given on fazes 70 1674
s
Diamonds :
Slight drop in diamond sales
Sales of gem and industrial diamonds by the Central Selling Organisation 1974 totalled R849 million a decrease of 78 pet
cent on the record sales of R921 million in 1973 but still sub-
stantially higher than the next highest sales of R655 million
in achieved 1972 Following the substantial price increases in 1973
there were iso price changes effective in 1974. However in December
an overall increase of 1,55 per cent was announced with effect
Directors reviex
from January 1975. This mainly affected the smaller sizes with certain qualities being increased by up to ten per ^gat World economic conditions currency uncertainties and high interest rates all had varying effects on the demand for diamonds in 1974. In th first six months sales of magh diamonds reached record levels panly because of exceptionally strong demand for larger sizes of polished particularly from Europe but demand was lower for polished diamonds of more than one carat in the second half of
tire year and this resulted in a decrease in the sales of rough The market for mos small sizes continued fiam throughout the year
especially in the United States While While 1975 may prove to be a year
of economic uncertainty the fact that the diamond industry has in the Central Selling Organisation an effective means of bringing supplies into line with demand gives the trade a basis for confidence
The consolidated net profit attributable to De Beers Consolidate
Mines Limited for million equivalent for the picketence-
1974 decreased by R36.2 million to 22013 to 56 cents a deferred share after allowing
dividend The total annual dividend was
increased by one cent a deferred share to 25 cents The cost of diamonds on hand rose by R54,3 million to R2698 million Net
curtem assets decreased from R2103 million to R198,8 million and
cash decrease~ from R350,9 R350,9 inillion to R293.9 million
Total output of the De Beers Group was 11 068 183 carats which was about two per cent more than in 1973
^ In Kitaberley total production was 384 538carats compared with 904 657 carats the previous year Although there was a higher throughput the average grade declined by four per cent to 19,93 carats per FX0 tons The fall grade was particularly marked in the De Beers mine where it dropped from 18.28 10 15.22 carats per 100 toirs This was primarily because increased tonnage had be drawn
from grade areas after mid pushes had forced suspension af
operations in the chamber levels at the end of June The fall grade
together with a decline ^fin tonnage resulted in diamond produc
tion dropping by 22 per cent to 126-492 carats However the fall
grade was less both Duteitspan mine which produced 234 517
carats compared with 259 in 1973 and at tire Wesselton mine
which produced 449 561 carats compared with 481 693 the previous .
year In addition mining at the Bultfontein mine was resumedin June terms of the overal long term mining plan for the four
producing Kimberley mines and 73 968 carats were produced at
grade of 28 carats per 100 tons
:
The policy introduced initially the De Beers mine in 1973 of phasing out the hostel system by engaging new Black workers only it
they were domiciled in Kimberley was extended to the other three
mines and the central treatment plant in 1974. More than 1000
workers to live in Kimberley itself and the i 600 migratory
workers who are resident ^fin the two igimaining bestek are enjoy
ing higher standards of accommodation amenities than before
Furthermore an important nitiative in the field industrial
relations was taken early in 1975 with the introduction initially
l iemployees at the De Beers mine of wirks committees which
hold regular nicetings with mine management This is regarded as
theirrepresentatives a
significant step towards the involvement of Black workers and
their
in the fuli industrial relations process Similar
commitees are shortly to be introduced on the remainder of the
Kimberley division mines and the other mines in the De Beers
group
:
Because of heavy raias during the first quarter me throughput
at the Fimsch mine fell substantially in 1974. an However improve-
ment in average grade from 74.18 74.18 % 82.68 carats per 100 tons
nantially compensated for the lower tonnage and diamond production at2353413 carats was about six per cent below 1973. At the
Koffiefontein mine the tonnage treated was also adversely affected by rain during the first quarter and the diamond production of
241-978 carats was about eight per cent than in the previous
yeal
The increased operations at Dreyers Pan during 1974 resalted in
production in Namaqualand rising by 245 147 carats to 777967 777967 carats The No. 3 conglomerate plant continued to on operate three shifts treating gravels from Annex Kleinsee area The Dreyers Pan-
plant remained on a single shift until the end July when a second
shifi was intrisfuced raising momhly production from 25 000 to
35,000 35,000carats Accordingly production from Dreyers Panwas Panwas 326 238
carats compared with the three months production of 63 605 carats in 1973. The average sione size was unchanged at 0,57 carats Production from Annex Kleinzce fell slightly to 725 carats and in accordance with the mining plan the average stone size fell from
1,05 0.88 carats This fall together with the higher production from
Dreyers Pan with its smaller diamonds resulted in a decline in the
average stone sire for Namaqualand as hole from 0,95 to 0.72 carats At Dreyers P^n^ new bulk sampling plant is duebe
commissioned in mid 1975 makingit possible to resume the treat-
ment of bulk samples from areas of marginal payability
Production of Premier Transvaal Diamond Mining Company
Limited declined by 79364 79364 carats to2422 326 carats because of a
decrease in tonnage treated Average grade was maintained at
34,62 carats per 100 tons
.
Production of The Consolidated Diamond Mines of south West
Africa Limited was about -39 000 carats kriver 1-569 961 carats
but the average stone size was unchanged 31 0.88 carats Although
this the tonnage treated increased
was not sufficient to compensate
fer the declinein grade from 13.75 to 13,26 carats per 100 tons In
the foreshore atea whichis mined as integral part of the Westen
Block the use of a wellpoint dewatering system for maintaining slope stability of the sea wali las enabled mining in the south to be extended to distance of 120 metres seaward of the high water
mark Assembly of bucket wheel excavator and conveyor conveyor bridge
system which is being introducedin the Western Block because of
its characteristically high burden has begun and is scheduled scheduled to be commissioned in April 1975 The No. 2 conglomerate plam
was commissioned in March 1975 and production should com-
mence next year at the No. 3 plant which construction was
started f^/st
September De Beets Botswana Mining Company Proprietary Lizsited pro-
21
OE2
6
Le
Ob ed
2
ERAN
ek
IER:NERC
eES um:
Bowe
t
floors in
Oppenheimer Heuse
Kitabeeley in with the davdying
Neath ALDFISVAS Mom De Beers mo nosin
ana South Wes
PADA POLindlased ItsJoganklima the settes
the mhuman natured light free from glaze
CALLA LILLINGNG LILLINGNG Lv in possible bet^,y
dixed approximately 2718001 2718001 carais substantially more than the 2416460 2416460 produced in 1973. This reflected both an increase
tonnage treated of five per cent and an improvement improvement in the grade from 5,84 to 92,02 c^ratsper 100 tons A third daily treatment shift was introduced during February 1974 but the daily throughput
did not teach the expected levellargely owing to the harder
nature of the ground The Mopipi Dam which had fallen to only
ber8,5 per cent of capacity in June had risen to 67 per cent in Decemas result of heavy rain and flood water Bowing down the
Boteti River Additional wells have been sunk a witvih ew ensuring
water supplies during periods of drougin The DKI p~pep~pe in Botswana
has been proved viable and negotiations are continuing with the Government of Botswana on the terms on which it is to be opened
He pipe is considerably sm^/llerthan that at Orapa but the diamonds
zoomerol at^'on average vi better quality
An agreement was signed 4th March 1975 between the Lesotho
Govenment and De Beers for the establishment at a capital cost of
alvet R23 million of the letseng diamond mine in the Maluti
Mountains in eastern Lesotho A new company De Beers
Proprietary LesothoMining Company
Limited will be incorporated
^fin Les^'hoto undertake venture and the Lesotho Government Government
will obtain free of consideration 25 per cent ofits equity Prelimum-
work has begun the mine which will be an
open production is expected to start earlyin 1977. It is a expected plant will operate at 19te of 4 000 tons of ore day
joand that the
The De Beers international advertising publicity and promo-
tional campaigns continued at a substantially increased cost and
contributed to more even pattern of sales at retail level by
sustaining and enhancing the public's desire for diamond jewellery
The increasing level of participation by the jewellery trade in these
programmes is most encouraging A new eternity ring campaign was launchedin 1974 and has helped to increase demand for small
Stones Diamond engagement ring sales have remained buoyant and demand has increased in Germany and Japan
Sales by the De Beers Industrial Diamond Division were narrowly
higher than in 1973 While the demand for both natural and synthetic
industrial diamonds was extremely strong during the first half year the downturn in industrial activity throughout the
Westem work during the latter half affected the total sales of the divisiondivision for 1974
the De Beers Diamond Research Centre situated near Johannes-
bing fundamental and applied diamond research was actively pursued the centre's mines division which concentrates en the
improvement improvement of recovery tec^fimiques on the mines development
work continued ^fin conjunction with a number of m^~ jorprojects
en Gr^,gpmines After several years of investigation the synthesis dnision completed research and development programmes on the
presduction pt cubic bozen nitride This is a synthetic material sound oak to diamond in its hardness which has become a
senikkani commercial abrasive ^fin recent years and has consider
ale potential in the grinding of certain alloy steels .
The IndusItrial ndustrial Diamond Division's Division's quomotional service which ...
operates mainly in Europe cozainued to provide industry with infezanation on the latest technical developments and seminars
backed by contributions from the Research Centre were held Canada Brazil Japan United Kingdom West Germany and India
Further details of companies in the De
74 375 375
Beets group are given en pisos
Copper and other mining
Sharp fall in copper prices
Extraordinarily wide fluctuations in the price of copper occurred
during 1974. The high prices of the previous year when theaverage
Metal London
was .727
Exchange LME cash settlement price for wire bars a metric ton were carried over into 1974 by the shot-
taltin supply together with speculative buying counter inflation
international currency uncertainties and physical Shortages of
copper caused by shipping problems During the first quarter of
1974 the price rose from 961 a ton to a record 1400 a ton on
1st April 1974. However by July it had taken 46 per cent to
754 when a c^ntangoappeared for the first time since March
1973. Following a brief period of stability the 750 to 800
range an supply situation developed carrying the price down
erratically monthly averages of 609 in Novembe anrd 554 in
December giving an average price for the year of 877 Since the
year the price has remained within the relatively low range
of 500 to 550 and stood at 547 on 14th March 1975
The sharp cyclical downtuin in the copper price followed the
adverse effects of increased oil prices and gathering recession
in the economies of the Western industrial nations caused by
measures of restraint imposed in 1973 Consequently world
consumption consumption of refined copper ^fin 1974 at an estimated total of
production 227 000 metric tons was 5.2 per cent less thanin 1979 while
rose
by2,2
per cent
to
8 675 000
tons
Mine Mine
production
by seven per cem in the United States but an increase of
declined improvemnt 22 cent in Chile Contributed greatly to the overallimprovement
stockpiles had built in world mine output Furthermore large
up
in Japan which resorted to exporting an estimated BLAN ions
during the year which was a major factor the decine^finprice
IME Stocks increased from -15.000 -15.000 tons in M^y1974 to 130009 ^r
the end of December having started the *** 41 34 800 tons Since
the year end stocks had risen to000 tons on 14th March 1975
The price of zinc the LME fell
from the spectacular average
prices of 938 ton in December 1973 and 875 in May 1974
tollonving the downward feed of copper and reachine 301
the year end cominuing
difficulties in supply in many
producing comnies The European prosincer prosincer price at which
Nchanga Consolidated Copper Coper Mines Limited SCCM SCCM sells is
23
Directors review
sample Determining the associated associated elements in un ore
taration metho vanafthe many tests used in the evaluation
analysis ofthe copper enebodayt Tenke FungurameFunguurame L^N
Yt
zine was increased to 1330 in March 1974 and a further increase
to 360 was announced in November in which month the LME
average price was 1341. The price of lead which averaged 253
a ton last year compared with 175 in 1973 fell relatively little in price comparison with copper and from 302 in March
1974 to 229 in December having benefited from produc^'rsupport Zambia Copper investiments Limited ZCD holds the Group's
substantial interests in the Zambian copper mining industry During the year Zambia's transport difficulties were accentuated
by a reduction in cargo handled at Lobito Bay and Mombasa and
the continuing problems at Salaam
congestion surcharges were in operation at all in the pipeline between mine and customer
In addition heavy ports Copper stocks
rose to 58 000 tons
by the year end as a result of port delays and shipping problems Bulk imports were also seriously delayed with coke from West
Germany and sulphur from the Middle East being
particularly unj"t Sected
At XCCM in which ZCI has a 49 per cent interest finished
copper
production at 416000 tons was alene the 1973 total of 407 730
tons The shoutall on target can be attributed mainly to the
delayed commissioning commissioning commissioning as complete gnit the tailings leach plant at
f^...mace Chingola In addition there wa a shower build to full production
plam potential at the new oxide
Rokana and lower lower recoveries in
concentrators and treatment plants Delayed or restricted supply of
maintenance both materiak and equipment and a shortage of skilled
have been
manpower
contributory factors in these shortfalk The tonnage of
copper sold during 1974 at 406.244 tons showed a small increase
Ve above the previous year's total of 391 596 tons but the value of
sales rose significantly to K522 million comparel with K423 million ir
1973. The production of lead and zinc improved to 24 701
58 338 tons
tons and
respectively and cobalt production was 962 tons Sales
all metals for the year amounted to K570 million compared with
K459 miilion in 1973
:
:
Ote tonnages at the Chingola Division from both the under-
ground and open sections were slightly below expectations but
grades were higher than predicted The lack of spares and of trained maintenance personnel has hampered ore production and in the
open pits the overburden removal rate has been below require-
ments To reduce the anticipated shortfall in production due to
known delays in the completion of the full plant
of the tailings leach plant was carried
commissioning
out in stages and the plant
therefore operated at much lover than expected recoveries By
the year end the plant was treating design feed tonnages but two
thickeners still had to be commissioned is expected that the
full plant will be available by the end of March 1975
In March 1974 it was decided to open the Kansanshi mine
and work is well in hand with limited production from an open
pit scheduled to begin in 1976 The ore will be treated
Chingola
the construction of plant at Kansanshi is comia-t
pleted in 1977. The project is designed to produce 26 000 tons of
copper annually in cathode formi through a leaching and solvent
extraction circuit
~
The Broken Hill Division had a
satisfactory year There were
short periods of down in The
2nd December the first
section in April May
being due to ^ plant water shortage follow-
ing the temporary flooding of the lower pump station at Davies
Shaft and the other two for steelwork and furnace
As a result lead and Sable 4 zinc production was call although Sab~...--2 zinc production from the electsrloilgyhttilcysebcetlioown
was ahead of target Construction of the Waelz Kilns made good progress However commissioning scheduled to start 1975
is likely to be held back by delays caused by poit congestion A -
cofract was signed during the year for the supply and
of
a line coke plant at the mine which is
erection
planned to be commissioned
in 1976 and zivil work has started
:
At R^kana Division production frem underground souces was
satisfactory However the open operations were affected by throughput problems at the new oxide concentrator where com-
although Variations missioning began in February and feed to the mills was hampered
by the very line condition of the ore which resulted in
severe
handling problems panicularly panicularly in the rainy montlis
in
the mineralogical composition of the ote from the
the milfs have complicated metallurgical control aonpden pits to
there has been a steady improvement recoveries from the
have been below target
; plant
target
have Three converters been linked to the gas collection systern
jooding the new acid complex and a fourth converter should be
connected by May 1975 when the immediate necessity for burning
sulphur toi acid production will be phased out The gas collection
system as whole linking six converters should be
in 19766 The second tankhouse
compl^tecarly
unit at the refinery was converted
to periodi~ current reversal in March 1974 and
the tankhorse section has
production from
improved steadily as personnel in the
plant have become more familiar with the
the
new technique
Roan
Consolidated
Mines
in
which
ZCI
has an
interest
:
of
per cent produced 292 893 tons of refined copper 1974. 18126.1215
tons more than in the previous year and sales stood ^t280 186 tons
compared with 278498 278498 tons in 1973. During the year work
on the No. shaft the new Baluba
cummenced
mine and further shaft at
Chibuluma West was started The Chambishi expansion progressed
satisfactorily and the sinking of Nog3 shaft was completed in June
1974 ^ta final depth of 021 metres The rehabilitation of Mufulita
mine is proceeding satisfactorily with improvements in
and the
production
watering of the tailings above the mining area is
showing good results ;
Potgietersrust Union Platinum Mines Limited derives its income from its direct
37.3 per cent holding in Rustenburg Platinum Mines Limited and
indirectly through its small interest in -
Limited In the financial
Platinunt
year ended 31st August 1974 the increased
plat~num price and deliveries to the United States for automotive
pollution control contributed to
Rustenburg's significantly higher
volume of sales and profits Revemie from sales of metals produced
increased by 50 per cent and taxed profits at R56,9 million were
52. per cent higher than the previous financial
year Dividends
24
Directors review
a
were raised by 17 cent to 821.84 a share This greater dividend
distribution enabled Union Platinum to increase its
METAL PRICES OFEN MARKETS dend by 16
ordinary divi-
ON
October
per 1974.
cent to 20,41
certs a sha
efor the year ended 31st
Although the demand for platinum remained reason-
Az MKBON
ably strong during the remainder of 1974 the market has
deteriorated and dividends for the
since
current financial year are
expected to be significantly reduced The
are the lower
principal reasons for this
the
projected requirements of the motor industry and
slump in fibreglass electronics and oil
result it was
refining demand As a
announced in F quary that Rustenburg in coMAION with other platinum producers was to cut back mine
of approximately 25 per cent and to reduce the price itsproduction by
platinum 19N7e4t beealrontiengs of fudson Bay Mining and Smelting Co. Limited for
extraordinary items were Canadian 38.58 million
3.88 a share compared with 44,58 million
or
the previous year Profits before
or 4.93 a share in
5.2
tax increased by 3,2 million or
per cent over those for 1973 which indicates the
ditional tax burden which
substantial
upon them in
mining companies have hsd imposed
were declared Canada Annual dividends dividends totalling S1,60 a share ,
of the
compared with 2.00 in 1973. A significant feature
past year's results has been the increasing contribution
earnings that has been made by interests other than
to
mining operations at Flin
the base metal
Flon These operations nevertheless nevertheless
continusi to provide a substantial portion of the
earnings with the slightly lower production
company's
being more than
of copper and zinc
compensated for by higher prices for these
products For first time the Sylvite Potash
full
division operated at
capacity throughout the year and made an important contri- the
se ca
bution -to- carnings During the year substantial
company would be transferred to the State
investiment made by Francana Oil & Gas Ltd. a 54
was Soci^'t^'Nationale Industrielle etMini^re
mining concein
Bay Hudson
in
per cent subsidiary of
increasing its interest in Trend
will continue with the same personnel
Operations af the mine
of Denver from 30
cent
Exploration Limited
-
Consolidated will will cominue
as at present and Charter
per
equity interest
to nearly 57 per cent the balance of the
being acquired by Minerals and Resources
Transvaali Corpora-
to provide technical assistance
The equity camnings of The Messina
a0.
Development Development Development
tion Limited The oil and
gas operations which consist mainly of interests in Western Decalt^ Petroleum
Company *** Messina for the year ended 30th
1974 jumped 72 per cent to
September |
Ltd. Francana Oil & Gas Lid and throLuigmhittehde Canadian Merrill com-
result the 119
a record R18 951 000 mainly as a
per cent increase in mining profits to R36 238
narieprdol~ts pony the Trend group of companies all reported
This impressive profit growth was largely attributable
(
^fin
high 1974 a result the substantial increase ^finoil and gas
In
company's Investment the case of the Canadian
prices
copper price levels ruling during the first half
to the high
company's industrial
of 1974 while the
a operationsoperations of these companies relatively smaller share of the price increases acentred to the producer In
Nissan Investment
interests with the exception of Daisun-
Investment Company Limited operated
satisfactorily Hudson Bay acquired ^ 33,64 per cent interest in
1974
The copper mine at Pikwe in
Limited
Lytton Minerals
a company which holds 48 per cent interest in
the Group has significant interest through Botswana which
Cupriter^ La Vende SA Mexican
Compania commenced production in
Botswana RST Limited |
- the La Veide copper deposit and in whciochmtphaenMyexfiocramnedGotvoedrenvmeelnotp
difficulties in the
February 1974. Although technical
erratic
meatment plant led
an extremely low and
and Desc Sociedad de Fomento Industrial S.A. de CV share the
production level throughout the year some
of balance the equity
was achieved in the last
improvemem improvemem
;
During 1974. Soci^'t^'Mini^rede
; plant are being undertakenquarter Extensive modifications to the
Mauritania suffered more than
Mauritanie's copper mine ^fin pit wash plant
to improve its performance An
open-
costs and the
most from the effect increased
talling copper price in the second half of the
was commissioned in
remainder of these plant modifications shoJualnduary 1975 and the
and the operating resights for the year showed
year
the middle of this year However the
be operational by
announced It was recently
that
a substantial loss plant modifications
costs of implementing the
the Mauritsnian Government agreement had been reached with 31 falling
together with inadequate production at time
whereby foreign shareholdings in project Eacrolpieprer plpraincsesfohrave seriously strained the finances of the
tefinancing scheme have had to be
26
Directors review
ae
cs
poraponed on account of uncertainties arising from the continuing commercial bank financing in excess of 400 million
problems and substantial loans are being provided by the principal shareholders pending refinancing at a later date
are now
teaching their final stages The project is scheduled to produces
The consolidated net profit of Rhodesian Nickel Corporation
130.000 tons of copper a year as well as sulestantial quantities of cobalt and subject to decision to proceed in the
Limited for the year ended 31st 31st March 1974 amounted to Rhodesian
near futute
upon the satisfactory completion of the financing operations ate
1.86 52.58 million compared with
million and dividends paid expected to commence during the first halt of 1978
uose by four cents a share to seven cents The profit f^,r the six
Swaziland Iron Ore
momilis ended 30th September 1974 was 1,80 million which was
Development Company Limited cominued to supply grade ore under contact to certain Japanese steel
5790.000 higher than for the same period in 1973. These satis-
^fincreases
mills However operations have been seriously restricted by the
factory
in profits mainly due to the higher world frequem shortages of rail
which is
prices for nickel and until 1974 coppet The capital expendi- Mozambique authorities
transport
supplied by the
ture required to bring the Epoch Nickel deposit acquired ^fin
to convey ore from the mine to the port
of Louren^oMarques In October 1974 the high- and medium
January 1974 into production is estimated at 5,4 million which
will be
the
_ contracts
+
were
renegotiated
to
permit
sales
price
increases of 20
spent over
next mo years In addition work has begun a per cent and 40 per cent for the high- and medium ore
on the extensions to the smelter and refinery to increase the plant respectively These price increases should offset some extem
capacity to treat concentrates from Shangani Mining Corporation |
continuing escalation of costs However if the railage situation does
Limited and atc'expected to cost 8.2 million
so The Cleveland potash mine ^finYorkshire United
not return to normal and remain is likely that the company will
Kingdom which incur a loss for the year ending 31st March 1975
is jointly owned by Charter and the Group and Imperial Chemical
-
sca,g Industries commenced production on a limited
1973. It is
expected that the second shaft will befully operational Shortly and
production continues to build up to the planned annual rate The
average price of potash has in line with most other raw materials
The
detailed
operating
operatingoperating
read's
of
read's omf ines which
stantial interests are given on rages and 77
it's
the Group it's subo
3D
risen substantially during the year
Higher wolfram prices during the year were the main ~ auseof
the strong improvement the earnings Beralt Tin and Wolfram
Strengthening position Limited Profil before tax during the first six months of 1974
-
amounted to 057 000 compared with a tax loss of 71.000 71.000
its
;
for 1973. The wolfram price increased from 22 p^rton unit in
. J^nuary 1974 to a peak of 50 in September before returning to ~
37,5 at the end of last year This provided the opportunity for the
operating subsidiary Berali Tin and Wolfram Portugal SARL 10
During 1974 the world began adapting to the energy crisis and
this process of adjustment coal is assuming an increasingly im-
portant role as source energy The United States has embarked
| upon what it calls project independence which visualises a trebling
_ sell its surplus stocks of
concentrates of 5
profitably and to reduce its of coal production by the middle the next decade and France and
to a stockpile more normal level
Germany are now trying to maintain their coal production which
2) Production of tin concentrates from the Tronoh group of mining had been rapidly declining There has also been a pronounced in- &
companies in Malaysia amounted 175 metric tons in 1974
crease in overseas interest in coal expons from South Africa both
Hee
9 190 tons compared with
for the previous year Although there for metallurgical and pover generating use The recem increased
Pee
was a downward trend in the metal prices during the latter local demand together with these export possibilities will however
ein months of 1974 the zvetage price for the year was Malaysian 134
require very
substantial capital expenditure for
|
the developmem of
ERIE per picul compared with M5686 in 1973 and resulted in unaudited the necessary mining transportation and utilisation infrastructure oO
for profits
the year of 3,775 000 the highest achieved by the and this will take several years to complete
frastructure
> group Agreement has been reached with the States of Perak and
|
Coal further reinforced position as the dominant energy Source *
bance Selangor which provides for the exploration and development of , in South Africa during the year and provides 75 cent of all
new tin discoveries in Malaysia
:
:
energy in the country Sales by the South African coal
In respect of Soci^'t^'Mini^rede Tenke Fungurume in which
mining
industry increased by five per cent to 64.6 million tons compared
Charter and associated companies kold a 28 per interest the with 61,5 million tons in 1973. This increase is lower than expected
feasibility study |
completed at the end 1973 confirmed the
viability of the planned copper mining and processing
and reflects the severe railway truck shortage suffered by the
collieries throughout the
which which has also
year
caused an
extremely investment in the company's concession in Shaba Za^flreDuring costly utilisation of capital equipment
;
the year efforts have been concentrated obtaining the necessary
Sales by the 12 coal companies administered by the Anglo
Group third party finance to enable a decision to be taken to proceed with American Corporation
rose by 1.1 million tons 5,5 per
i project Negotiations for a combination -of export credit and cent to 21.0 million tons which represents 32.5 per cent of South
y
Me
bar at the Tate Dep
Directors revie
te
4
Africa's totalscoal production Profits after tax increased by 23 per cen moving from R8,4 million to R16,3 million in 1974. work-
en ing costs a fon rose significantly by 28 cent Thisingiteansegtease ingtease Plons edd
from substantially improved wages and continued
inflationary presstites on the cost of mechanical equipment and stores However
sisese higher costs were largely alratbed by improved selling prices received dining the year Abbough the Price Controller awarded
35 per cent increase in the controlled selling prices of coal for Transvaal collieries in September this increase is already alusest fully offset by the continuing rise in costs and funiset pike ^fin-
will creases a matter of some urgency have to sought During 1974 centala of the Group's contracts with the Electricity Supply
The export of cogi and antluacite by the coal associations to which Group collieries comtribute ar agreed percentage remained at a relatively low level Le exp^ntrade was adversely affected
during the year by the transport and harbour difficulties in Sout Africa and Mozambique Through The Transvaal Gal thymers
Association Coronation Collieries Banka signed ^ lenn agtvement to export eral to Japon and capital expenditute on ile neces
Szy mining washing and loading facilities to these ports is expected to be R15,5 million Deliveries are to start in 1976. 1976. The
Group was succe stil ^fin obtaining comditional approval from the
ha t. Commission discom and South African Iron and Steel Industria Corporation Iscon were adjusted to allow for the highet working fbi costs while the mote tecem conifacis Ikow contain clauses ollering
soate prolecion against the erosion of money values Thereis a
ESTIMATES OF UTILISATIONOF SOUTH AFRICAN COAL
1970 53 millium Suth
FeryFerayantncte 1965- F^omniliscay seuns
real need to establish a fair value fer coal sold in South Africa to
ensure that industrycan generate capital funds internally as well
as attract the additional investment necessary in maintain and
i increase increase production production within the Republic
A large part of the Group's coal production absomi 58 per cent is
ty
for pover stations of Escom Group collieries supplyapproximately
half of the requireinents of these stations The Atmoi underground underground
mine and temporary open pit are at full production and in
September 1974 achieved a record output of 416 s^lestons The
dragline is prescitly under construction on site and the
combined annual input of the underground mine and dragline
will be approximately six million tons by early 1976. The profit
element of this contract is partially protected against inflation
Igre
Out
. ~
hun Pat
:
.
FANS 7a Valunpica Valunpica
~
Ore mouse
T Ties,
Agreement Agreement has now been reached in principle with Escom on the
renegotiation of the Kriel comtr^c^>under which the Kriel 1 pover
fad
station will be supplied by two operations a one mechanised mine
producing approximately f^rt million tons a year employing high
extraction extraction methods and starting production in 1975 and the other
an open mine milising two se cubic vard draglines together
with shavels and tricks
4.5 million tons a year and
producing achieving full production by 1980
mechanisation The nood to implement mine
has been
mechanisation eniphasised by the considerable
being exxtitkaiin recruiting labour for
difficulty Hand mines and full partial mechanisation mechanisation of operations at
the older mines is presemily under consideration It is noteworthy
that as mining develops towards higher degrees of extraction
through open and full seam longwallonglwall mining techniques the
rights purchase of the silice well as the coal
if necessary
G
has become
F
E
During 1974 the Group's collieries supplied 60 per cent of Iscor's
Governmen for the export of 100 million tens of cou~fl over a period 20 years which together with approvals granted to other interested jurties could result in cual exports teaching 40 million tons a year by the mid 1980's These additional exports while
requiring substantial capital imesament could car significan foreign exchange in the years to come
In Rhodesia Wankie Colliery Company Limited's wal sales
toiled 2394 000 during the year ended 31st 31st August 1974 slightly less thanin the previous previous financial year Coke salevincreased 1x 30000 tons to 267 1900 tons The consolidated net profit vas 1.99 million after charging to capital 469 NN in respect of ceitain Eztitial underground development at the new No. ] collierv which started production in January 1974 Dividends were talked
fone fone cent to 12 centvcaentva share
<i outside purchases of metallurgical c^lAt present f^fiereis a ladjoj ladjoj
reserves of highgrade and readilyreadily mineable metallurgical coal in South Africa which has made it increasingly difficult to establish
faul
the faul
the cell
cell
companies companies companies
in inin
*;
EE
UE
7
OS ar
ie.vel
Oat Perey
INTEL on pages
and79
viable new mines As reali despite a world shortage of
metallurgical coal it is unlikeit that Govermem Govermem pemission will
be given to any ney export contracts for coing coal
Directors review
Industry and commerce
steel and alloys chemicals and explosives civil and constriction engineering drilling tools refractory and other structural day
products textiles plastics paperboard and the growing and pro-
_ Upsurge in fixed and inventory investment
cessing of timber including wattle extract for the leather industry
Industrial production in South Africa increased further during 1974 but at a slower rate than in the preceding year Output weakened
towards the end of the year as economic activity slowed down The
various sectors have been aflected in different ways by significant
changes in the composition of domestic spending and In particular by the relative slowdown in spending on durable consumer goods In contrast there was a n^/rked upsurge in fixed and inventory investment which benefited certain sectors some extent although the acceleration in this type of spending was inevitably reflected in
a recoid increase in both the value and volumoef imponts especially
in the early part of the year However a good export performance in alm~-rst all categories of manufactures helped moderate these influences
agricultural products and foodstuffs industria equipment motor vehicles and components tail locomotives and coaches shipping forwarding and clearing services and computer bureau services
The Group's industrial investments in South Africa sie bekl mainly by Anglo American Industria Corporation Limited Amio
but Anglo American Corporation itself and Rand Selection Corpora tion Limited also hold interests directly both in Soutkem Africa and elsewhere Through D^'Beers Industrial Corporation Limited Debincon Amic has substantial holdings in AE & C Limited and South African Nylon Spinners Proprietary Limited while Maiti-
straat Beleggings 1965 Eiendoms Beperk holds the joint interests of the Anglo American Corporation Group and the Federale Mynbou Mining grap in the steel and heavy engineering
The shift in consumer spending patterns most noticeable in the alsolute decline in new cars sold during 1974 was responsible for the marked slowing down in the output growth of the transport equipment sector Tight meacy conditions everted a depressing
industry The Group also has important indirect interests in
industry through Anglo American Corporation Rhodesia Limited and Zamanglo Induariai Corporation Limited and through its significant holding in Barlow Rand Limited
effect the construction industry after year and as a conse-
IRON STEEL AND ENGINEERING
quence production in the timber sector was aixected adversely By
Beart International Limited Boart
subsidiary contrast the paper and packaging industry recorded new gains in output growth and the sectors b^nefiting from investiment
a wholly
of
Amic changed its name from Boart and Hard Metal Products SA
Steps spending such 26 machinery and electrical machinery grew at record
Limited on 1st July 1974 so as to reflect better the world
spread of its operations
taken during the
to restric
tates Nevertheless in general there was evidence of some under-
jeze a large section of Boars
year
utilization of capacity in ^findustry in the second half of the
oversets interests resulted ir the
a indicating the extent to which additional
year disposal of number of investments and the acquisition of others
capacity has come on stream as well as some slackening it demand
The most significant development was the extension by Boart of its
ul
The outlook for 1975 for conditions the
minority bolding in the Longyear group to a major and comrolling
ff will be determined jargely by the duration of mtahneusflacotwudroiwnng osfectthore interest The Longveat group is the largest and most successful
and fl economy In particular the absorption of excessive inventories will will organisation the international diamond drilling industry had
strong be an important factor evidenced
a regord year as result of the
demand throughout the world
by unfilled onders At the
already the levelling off in for exploratory drilling services Those results together with 3
significant expected
same time conditions abroad must be to have a dempering effect through a s owionym or
marked improvement ^fincaming from Boartslocal drilling opera-
tions resulted in
increase in the
of the growth certain categories ofexports
diamond
profitability of the -
Against this however there are
drilling division The excellent performance in 1973 of
positve many positive aspects teflation-
Boar's other major division the carbide division continued
ary measures overseas can expected to lead to renewed renewed upturn
during the year and plans have been made
in exports of metals and minerals ^/lter^lag while the stimulating
the
to increase substantially
effects of a high gold price and inflow of capital ^fintoSouth Africa
tungsten carbide production capacity capacity of the local manufacturing
Could permit Government spending on infrastructure development plant which is the~rincip^slupplier of components to Boari's
to remain at high level and this could help lead before long to
overseas s^...lsidiariesIn the research field Bo^n has actieved
a new upswing in the economy Despite period of ^/djustmentthere-
impressive test results the development development of rock cutter and an
fore there is every reason to
hydraulic jackhammer both which are expected to contribute
the future
; expect continued grostit ^finindustry
to the improvement of productivity in the gold mining industry
Corporation The estimated value of the total investment of the
and its assisciated finance companies in industry and commerce anotinted to approximately R640 million at 31st December 1974
compared with alsout R490 million the end of the previous year
These investments cover a wide range of activities including iron
Consolidated profits amounted to R9,62 million for the year ended 31st December 1974 compared with 85.23 million in 1973. Pros
pects the current year appear to be fairly good
Highveld Steel and Vanadium Corporation's operations during
the year ended Jail June 1974 sized tecord outputs outputs of steel and
vanadium This higher production coupled with firm markets
30
Directors review
te
=]
eetaAPRt
Maley
Vanderbijl Corporation Limited's taxed pro~...~...asrising by 31 per
:
sem to R7,54 million
Total commcm commcm
w
Peceeefi
For tr seer
During the vean the Group sold its 375 per cent interest in
Lenning Holdings Limited to Johannesburg Consolidated Enest
ment Company Limited as a testik of which reming asom a subsidiary of that company
Holdings is
Scan Metals Limited a wholly ained subsidiary of Amic had
another successful year with activity in the iron and steelfoufnites ounities
and the tolling mills of the parent company remaining at high
level Equity camnings for the year ended 31st December 1974 tow
by 82.02 million to a record R9.12 million The company's te,
mo subsidiaries Flather Bright Steck Proprietary Limited now
vom
wholly owned and scaw Limited fomicil Scan Toy Fommdries Fommdries
need
Limited both contributed to the imicased gr^fitThe foundry order
toe
ees
the book at the year end was striscantiai and the rolling milis wee
neni
fully loaded Indications are Bovever that demand for rolled Aa
steel may case slig~alyin the latter part of thc e ment year in spite
ean
of this and tite problem of availability availability of skilled qu~-ankla
Mets
towards ee
satisfactory satisfactory year is expected Progress is being made with the
ee
tena
construction of the new mch shop which is now espexted espexted to be
om
ate
.commissioned
towards the middle of 1975
ee
een Transiloys Proprietary Limited actieved the best results in
its history in 1974. Profits rose Itom R4720 R4720 in 1975 to a second
R3,63 million All costs increased during the veat isetablyisetably saa
bot
materials wages salaries and penver costs but these were more than
en:
compensatedfor higher selling pricestor pricestor terromanganese terromanganese produICIS
ng
in strong market During the year Aitoa fic of New York and
renge
Avesta Jernverks Aktiebolag of Swalen sold their interests in
e both products
Traillion before
resulted 25 improved net income of RIL17 providing for deferred taxation of R1,26 million
Transalions to Philipp Brothers AG of Switzerland and the AngloAmerican Corporation resgativch new 24 MW finage for the
production of silicomanganese
=
silicomanganese
to be installed at an estimated
Compared with net profit of R7,30 million in the previous previous year
Compared to The filthIton tumace and sixth kiln were commissioned in October
e and carly December respectively some three months ahead of
Union Schedule In the six months 31st December 1974. Highveld
saliv gchieved gchieved a net profit R7.54 million belor^provision for deferred
Stax of R3,11 million against R5,45 million in the corresponding in
cost of R9,5 million and is expected come into operation carly
in 1977
During 1974 the Group increased its holding in Union Carriage
and Wagon Company Limited which concluded another Lactory year on 30th June 1974. As amicipated there was a
higher level of activity in the company's main business namely the
Paperkal appear in 1973. With foth the steel and Canadium markets King firm up to the middle of this year the recent domestic steel
price increase and the higher steel and vanadium production production
Fresulting from the commissioning of the fifth iton tuinac it is
Fresulting in expected that profits will be improved the second half of the
inancial year despite further cost increases In November November
Hig| hn nnounced a planned expansion ^finto Flat products calling for
additional iron- and making facilities and plate mill at cont
Bat R66 million -
South RS International Pipe and Steel Investmetits
Africa Proprie
ary Limited tipsar ^fin cinch the Group has 15 per cent interest
ncreased its after profit 14 cento R2.72 million t ithe
ended 30th Septent~ ber 1974 Ipsa's mae subsidiarios
perfommod
Well increasing with Stewarts de Pinds of South Alika fimited increasing Long profits after tax by 80 per ~ emto R9,32 million and Dorman
Affixan building of railway rolling stock and locomotives for the South Affixan Railways and to a lesser extent f^r users of industrial
Jocomotives In the export market series of mainline coadies
were delivered in terms of contracts with the lutanda and Benguela Railways and an important contact was won f tthe supply of locomotives to Taiwan During the past financial veai a sant wac
made with the manufacture manufacture of pretabricated buildings
The consolidated taxed of profits Vereeniging Refractories Limited Limited
a subsidiary of The Vereeniging Estates Limited.dognan Limited.dognan Limited.dognan R2STAU R2STAU
to R2.95 milliofonr the year ended 31 Dachs P74 DininDginingiilia lDiniingialia R876000 was paid in settlement ofa daim made in an menMI L
xajja~ in coke men somiador
inkreased to meet the
The basic brickbrick plani new demand for ligh
xajja~ in
quality
his beei
magnovite
bricks for the steel industr and it is expected than this dix json will
contribute an improved profit situation during 1975. | Marse
31
consentiaomg which LTA a member theCabora
The is 3 contulation
Zambezi now backing up to form
Lake that will take two yearsfill Poave midflowfrom thethird quarter
Directors review
Mineral Company Proprictary Limited had a difficult year as a resuit of reduced mining yields and increased costs Steps are being taken to improve productivity and to eliminate nonprofit areas wherever possible The results of Vereeniging Tiles Limited and
Vitre Clay Pipes Limited were affected by a downturn in the
building activities in the latter part of 1974 and this situation is
expected to continue int the current year
CIVIL AND CONSTRUCTION ENGINEEPIENGNINEEGPING
LTA Limited's taxed profit rose by 68 per m2 to R5.44 million for the year ended 30th June 1974 and equity camings were R1,99 million compared with 57 million in the previous financial
year Ordinary dividends te increased by 7,5 cents to 12.5 cents a share Esch of the four main operating divisions building civil engineering industrialise building and Steeledale reinforcing and engineering performed satisfactorily having met or exceeded
budget The company a has 20 per cent interest in the civil engineer
ing operations on the Cabora Bassa electric scheme Because of the uncertainty prevailing in Mozambique at the tune of the
company's year in June it was considered prudea not to take any further profit on this work over and above the modest amount
brought to account ^fin 1973. However there is presently no reason
to doubt the successful conclusion of this contract which is expected to be substantially complete during the first half of 1975. The
company's other major consortium involvement the 30 per.cem per.cem
interest in the construction of the plateau section of the Orange
Fish funnel continued to face problems as a consequence of the
disruption during last year in the supply of cement The work has
now largely been completed and efforts are being directed a
fair and reasonable
for the additional costs
obtaining compensation the work incurred During1974 LTA acquired the entire equity
capital Contractors the McCarthy
group and Ground Engineering
Limited and 68 per cent of the Lupini of companies The
value of uncompleted work rese from R162 million to R214 milion
at 30th June 1974. The company has changed its year end to 31st-
Be period BiMarch and it is expected that the earnings for the month to 31st March 1975 will show2 funtherimprovement on an
pe annual basis
&
TIMBER AND ALLIED INDUSTRIES
Mondi Paper Company Limited had a most successful year and achieved a taxed profit of P.11,53 million compared with a maiden profit of R655000 R655000 in the year ended 31st December 1973. These
excellent results were earned despite continuing inflationary
pressures and reflect the buoyant conditions which existed in the
paper market during most of 1974. In order to meet the growing
demand for wood fine paper and to maintain its contractual
commitments to the Newspaper Press Union NPwas decided
to install a third speed paper machine which is planned to
come on stream early ^fin 1977. The estimated total productive
capacity will then be increased from 160000 160000 tons a year to 250000 sons consisting principally of newsprint telephone
directory and wood fine paper A new agreement has been negotiated with the NPU and deliveries of newsprint newsprint will begin this
year 21 acceptable prices which are s b^xtto escalation During the
year the company sold two of its propeny subsidiary companies to Katal Tanning Extract Company Limited together with the timber piantations established on the land
Other than the significant sequisition of the Natal Tanning Extract Company in 1974 there were no material changes in the Group's holdings in timber and allied industries During the year Bere were increases in log and sawn timber prices and general escalations in costs particularly for wages but nevertheless with
one exception the Group companies improved their earnings The after profits of the S.A. Forest Investments Limited SAFD group including Peak Timbers Limited in which SAFI holds an interest
of aiwout 95 per cent increased from R2.1 million to R2,7 million and these of Natal Tanning from R1.3 million to RLS million Bruynzeel Plywoods Limited in which Amic has a 66 per cen interest was severely affected by unfavourable trading conditions
towards the latter part of the year in its board manufacturing
division resulting in a decrease in earnings of approximately 24 per cent as compared with the previous year The development
of the plantations of the Eastern Transvaal Transvaal Timber Company Pros
exploit- prietary Limited is proceeding but these will not be of an
able age for number of years
South African Board Mills Limited's equity earnings for the year
ended 30th April 1974 were 22.32 million compared with R1,04
million in the previous financiel year Stafford Mayer Company South Africa Limited in which the Group has a 24,5 per ceBI
interest derives the major portion of its income from its substantial
^finvestment in South African Board Mills Earnings for the year ended 30th April 1974 rose accordingly by 90 per cent to RUSI
million
MOTOR AND TRANSPORT
Mo,
The motor vehicle market suffered from the tight financial conditions whicht prevailed during most the year together with the adverse effects of fuel restrictions Sales of passenger vehicles
decreased by 1,2 per cent to 226 776 taits while commercial
vehicle ales rose marginally by 2.0 per cent
115 151 units
during 1974. Although these market conditions are expected to continue into the current year indicators are that there could be
an improvement during the second half of 1975
_
Notwithstanding the energy crisis and the increased cists of borrowing illiags Proprictary Limited achieved satisfactory prolits
^fin all divisions during the year ended 30th June 1974. A restricted restricted
vehicles
from
affected
afectd Supply division's
division's
of vehicles from Japan affected dhe Mazda division's perform-
ance but this problem has been overcome and itere should behigher-
turnover and market penetration the current financial year The
demand for Mack trucks continues to grow The construction and industrial machinery division will concentrate in the current year
on improving improving product support facilities and services to user
The consolidated cornings of the McCarthy Reshway group for
33
Directors revien
of the year ended 30th June 1974 totalled R2.9 million an increase
40000 over the previous financial financial year On 1si July 1974. Atkinson Dates Mators Limited in which McCanby R^dwayhas a 56
per cent interest acquired the entire issued share capital of John B. Clarke Motor Company Proprietary Limited This acquisition has increased the group's franchise range and is expected to provide a significant increase in the group's future carnings from its Johannes-
burg operations The McCarthy Rodway group is pursuing a policy
of containing ants and with the balancel spread of products including Pengent Mercedes Chrysler Toyota Leyland
Mazda BMW and Datsun the group is well placed to take advan-
tage el improved trading conditions In February 1975 McCarthy Rodway made an offer to acquire the remaining 44 vent equity interest in Atkinson Oates on the basis of 45 McC^nthyRodway
Limited shares and R55 in cash for every 100 Atkinson Oates shares held
;
consolidated Freight Services Holdings Limited carred record
profits in 1974. Dusing the year the company acquired the Dan and Howes group whose clearing and forwarding forwarding operations in the Cape complement the wide range of services services already provided by Freight Services
CHEMICALS AND EXPLOSIVES
The AE & CI Limited group achieved 44 per cent increase in sales
-to R243,5 miikon during the year ended 31st December 1974 partly as a result of new acquisitions The substantially higher cost of raw
materials notably based products together with the escalation
^fin Labour and service costs during the year made price increases
unavoidable The growth in local demand for some major products has again been supplied from imports 31 no profit to the group 2nd
adversely affected profit margins have been
Equity earnings rose by
ten per vem to 31,3 cems a share or R26.1 million During the first
business conditions half of 1974.
were favourable in all fields of
operations except animal feeds and explosives but during the t^"mainder of the year demand was k^vetkevel in number of areas
particularly plastics and vinyl products The lused ammoniaplant at Modderfontein was brought stream in December
During the period under review the Group sold its 45 per cent oquity interest in the plastic converter ~ uropentaHoldings crtoprietary Limited to AE for new AE & CI shares
Chemical Holdings Limited is the major South African supplic^ of certain specialised chemical products Tumover nose by 31 per
cem to R14,04 million for the year ended 30th June 1974 while
taxed profits increased by 79 per cent to R665 000. Tie dividend distribution was raise~ from 15 cents a share including including a bonusof three cents arising from the realisation of investments to Je
necessary company's expansion cents This growth the scope of the company's activities made
necessary
to create a wider capitai base from which
could be continued at a reasonable pace For this purpose rights
issue of shares linked with convertible notes aimed at raising
R3,527 R3,527 000 and underwitten underwitten by the Corporation was made to shate-
holders
in February 1975
:
34
FOOD
co.
The South African maize crop teached a record leveolf 1.04 million
tons during the 1973/74 season and was marketed at time when
world prices for this commodity were also at an time high South African producers wele however accorded only a modes
price increase but this policy did make an important contribution
maize to the maintenance of reasonable retail prices for
based
products the stapie foods of the Inver income groups of this
country The considerable margin which still exists between world
prices for maize and the average South African production costs augurs well for the short aral medium tem
African Products Manufacturing Company Limited produces starches syrups glucose and other ma^flzederivatives at Germiston
and Meyerton in the Transcaal and at Belville in the Cape Pawvince During the year ended 30th September 1974 the company carned taxed profit of R2,01 million hich was 44 cent greater than the record established in the previous financial year The dividend was increased from 22 cents a share to 28 cemts on a marginally larger issued capital
In Mozambique the mo casfiew processing companies adminis-
tered by the Group Mocita S.A.R.L. and its subsidiary Antenen S.A.R.L had a difficult year As a result of time lost during periods of political and civil unrest following the coup in Portugal on 25th
April 1974 production of both companies was lower than in 1973
At the same time costs rose sharply as a result of drastic increases
in wages fuel packing materiak and freight Nevertheless Moc~ta
expected to show a satisfactory profit on its 1974 operations
The operations of Oranje Koelkanters Beperk which conducts an
EMC~ K~ SMTEat and dairy prodacts besiress were
adversely affested in 1974 by rising costs of acquisition distribution which were
and not fully offset by higher selling prices The company declared a
a dividend of 40 cems compared with 36 cents share 1973
,
For the
sixth
year
saccession there was an
increase in
4
Rhodes
Fruit Fam Limited's taxed profits which in 1974 exceeded R1.15
million Dividende were increased from the equivalent of 21,25
presntly cents 16 24 cents share A put^'fruit juice concentrates plant was
brought into operation during March 1974 and its capacity i presently being expanded Unfortunately the outlook for canno
but Ituit exports during 1975 is not encouraging the marketing
atrangements and relationships which have been buil up since
should stead 1970
stand the company in good
; ,
Sectvelde Faris Limited achieved a tocord profit for the year ended 30th September 1974 and again 4tands to benefit during its current financial year from the strength of the maize wheat and
soya bean markets The company's livestock sections contine t^
expand and to show improved profitability Increasing attention is being given to tropical fruit and vegetable products
\
SUNDRY
1975 Computer Sciences Sigma Proprietary Limited progressed during
1974 and earned its first profit The company is planning to market
several promising new products in
:
Directors review
Having acquired the temaining 13 per cent interest in G. & W.
Holdings Proprietary Limited during the year the Group nowy kolds all the equity of this company G. & W. Holdings in its twin adivities raining and processing industrial minerals op the one
hand and manufact^/ringzinc dust and zinc oxide on the other had
a IIMSI SICCOssful year with a substantial increase in tumover
noying largely from penetration into new markets Thecompany
cominues to operate a processing plant at Vlissingen Holland and
plans are ^finmotion to extend its European activities A controlling interest in Hudson Mining Company Proprietary Limited one of the largest producers of andalusite in South Africa was acquited
during 1974 and is expected to a make substantial contribution to
fatur^profits
Tidustes Limited earned satisfactory profits during the year ended
30th June 1974. is apparent however that machine replacement
and other costs have escalated dramatically and these will have to
be takeninto account ^finfuture The deinand for tyre cord and other industrial yams and fabrics has been fairly well maintained since
the financial year end but there has been a marked fall in demand
for cotton and synthetic yarns Industex's owneod wned subsidiary
Union Cotton Mills Proprietary Limited is particularly affected by reduced demand combined with relatively scale impons at very low prices
.
South African Nylon Spinners Proprietary Limited in which
AB & C Limited and Debincor have substantial interests had a
satisfactory year despite a sharp downtin in polyester sales in the second half of 1974 and continued bigh textile imports The plant extensions at Bellville Bellville near Cape Town ate proceeding on schedule but engineering delaysin the United Kingdom could pote: pone the commissioning of the first spinning unit at Hammarsdale in Natal With effect from 17th December 1974 the company acquired by way of scheme which involved theissueof additional
shareholders new shares -to AE CL the minority
Dorsic Holdings Limited and Pan Textiles Limited
interests in
Further details of principal industrial commercial and financial com-
panies which the Group holds shares are given on pages 81 ie 85
Property -Interestswidened by Sorecacquisition
The Group's extensive property interests have been expanded by the acquisition acquisition of a major interest ^finSorec Limited the Schlesinger
Insurance and fastitutions Holdings property company company The estimated value of the totalinvestment investment of the Corporation and its associated finance companies in property was approximately R210
million at the year end The property investments of the
Group cover a wide range of interests including residential and
industrial township developers cenital city office buildings
medical and shopping centres a major international hotel residen-
sial holiday
sial
and
holiday
apartments and a waterfront
r^'sidemial
r^'sidemial
matina
r^'sidemial matina
Ahough the greater portoif tohense investments investments are held in Angli
American Properties Limited Amaprop and Sorec the Corporation
and Group companies themselves have significami direct interests
in certain ma~ or property boklings and development development projects stichi
Amaprop as Marina da Gama and Carlton ^finwhich
interested
is itself
During 1974 there was a general supply office accommo-
dation and shopping cenite space in the major centres of South Africa and this had a restricting effect on the growth rate of remial income However the high cost of loan finance coupled with steeply rising building costs has curbed the development of new building projects and it is expected the medium term that this will
lead the greater absorption of existing space and an increase in rentals in completed buildings Sales of residential ten-
ship land which were buoyant in the first yeta he yr ear declined
significantly in the second half largely as a result of the lack of
building society finance and the high orts of building The demand for industrial township land followed similar tread
Amaprop achieved slightly improved
momhs to 31st August 1974 with kiss R1005000 in the corresponding period
results during the six
R760 compared with
in 1973 and a loss of
R196000 R196000 before the deduction of extraordinary items in the
financial year ended 28th February 1974. During the year the
measures taken by Amaptop to improve its position included the
disposal of certain less profitable properties and investments anse
the overall strengthening of its managemeni sinetureThe storey
320 West Street Centre complex in Durian and the storey
Transvaal House ^fin Pretoria bodi completed in 1974 the latter seven monilis ahead of schedule and good progress has been made with their letting at satisfactory tertaks The remaining major centre office building the storey Durban Bay Housein which
Amaprop his a 54 per cent interest is scheduled for completion at
the end of the year The Cabina Beach resort at Umhlanga Rocks Rocks
achieved satisfactory occupancy levels during the holiday season periods and major international international sales campaign was launched
during 1974 to improve occupation the peak periods At
La Lucia residential township nonth of Durl^/nonly2.5 hectares
of the fiosit Land curterly being marketed remain umold and
further8.1 hectares is expected be placed the market in 1976
Sored's
results
during
the
past
year
are
considered sal~
|
SLICIOT
in view of the adverse conditions prevailing in the property market
Taxed profits for the financial year ended 30th June 1974 time b nine per ~ emu nom Ef 951009 the previous 12 morals to
119 600 and dividends dividends amounted 8,5 cents share There was little profit growth during the six months to 31st December 1974
with taxed profits somewhat higher at KI 085 000 and thirve^/tning thirve^/tning kul is expected to continue during the remainder of the cutem
financial year Sorec has significant interests in commercial resi
dential township and industrial Chelopments Chelopments bu 46 main sengih
lies in central city property development development vihere its principal principal area of
35
Directors review
ye
activity is Johannesburg The loav section the Kine Centre
situated opposite the Cariton Centre was completed late last year
and the Sunnypark shopping centre in Pretoria was opened og
schedule in October 1974. Progress on all other developments
including the new storey African Eagle Life Centre ^finJofannes-
po
burg is satisfactory Sorec's own completed developments include
the Schlesinger Centre Highpoint Hillbrow and Killamey Cenite Fall in Johannesburg and the African Eagle Life Centrs ^fin Post
Johannesburg Elizabeth and other centres It has significant interests in Sandton City
Sandton and the present African Eagle Lile Centre in The Marina da Cama near Cape Town will in due course
become an important source of income from township develop-
income This residential waterfront marina of approximately
Sandvlei 600 hectares adjacent to
Sandvlei Muizenberg will eventually
provide residential recreational and commercial facilities for a
population o 15000 people Eastlake the first township extension
comprising 500 units of single residential stands houses and toiYn-
house bjocks bjocks was officially opened in October 1974 and by the
year
end sales to the value of R4 557 D had been realized In Eastlake
North the second township extension starals to the value of
R384 000 were sold on terms for 22ansler in 1977. Work will shortly Ee begin on the next construction phase and it is expected that
development around Sandviei will be completed in 1978
The Carlton Centre complex in which the Group has a 90 per cent interest stands in the first rank of the world's major central city complexes and has created a new focal poim of city activity in
by Johannesburg In turn the Cemre will be strengthened new
building developments taking place in the area the mo^ INC-
worthy of which is the Kire Centre which is linked to the Carlton
Centre by a shopping arcade under Commissioner Street By the end 1974 the storey office tower had been virtually fully let arden rentals substantially higher than those prevailing in other office
buildings in South Africa while the shopping centre had been 97
per cent let by the yea end An event event of significance the Centre was
the opening in July 1974 of the Skyrink wh^>chc^naccommodate
2.500 2.50
spectators and is the first ice rink in South Aljica laning
~ imensionsand facilities complying with international sponing
e requirements This facility which replaced the former Exhibition
Hall has achieved widespread popularity and should cam an
ability excellent resin on capital Room occupancy levels and profitat the star international Carlton Hotel continued to = eprove at an encouraging encouraging rate during the year
The Group has a 75 per cem interest in Prospection Industrial
:
nship located immediately south of Durban's Louis Botha
rport During 1974 Sales of stands showed a marked increase to
roximately 37. hectares and with significamily higher prices
achieved revenue amounted to Re million Approximately ectares of land remain to be sold of which ^teserved by tzil
rele Group and its associates onva the Kenilworth Centre a Rio-
Mion retail slopping centre complex near Cape Town which w^/s cialy opened in September 1974 although construction work is
scheduled for completion until the end of 1975. The ground
Cape floor consisting of 41 shops including a major supermarket and
75 per cent of the first floor shopping area was let by the year end
The centre is strategically icatedbetween the densely populated
southern suburbs of Cape Town and the
Flats When it is coM-
pketed 105 shops will trade in the centre and free parking will be available for 3000 cars The Cape Tonin City Counter is proceeding with the construction of the Kromboom River parkway which when completed wilf materially improve access the centre
Further Further details of the property companio in sitares are given on pages 85 and 85
which the Grea kolis
Exploration and research
Emphasis on gold and coal prospecting
During the year the Group continued its programmes of geological ^finvestigation in many parts of the world and extended its search
for base metals gold uranium coal and other minerals of tradi-
tional interest to new areas ^fin particular Costa Rica and Angola
Investigations were also carried out in number of other
including the Philippines
countries ~
Southem Aftica continued to be the main area of activity with considerable attention being given to base metal and gold exploration South Africa is regarded as an attractive area by MANY international mining companies and a higher level of exploration
Group activity has become evident During the year the
acquired
prospecting rights over a large number of interesting properties in the northiem and western Cape Transvaal and South West Africa which are being systematically evaluated at present There have
been negotiations between between the Corporation and the De Beers group on the investigation for base metals certain properties held by De Beers in South Africa and South West Africa and it expected expected dhat an agreement will be formalised shortly Work has continued
in the Tuli Concession in Botswana
:
The continuing bigit gold price on the free market has givca additional impetus to gold prospecting The investigation of low-
grade prepenties adjo nintghe Group's existing gold mining lease
argas has continued during the year and number of new areas
and have also been taken under option the Transvaal Orange
Free State and existing holdings have been consolidated In
addition scout drilling has begin in several localities localities A joint venture
arrangement h^sno been concluded for the exploration an area
south the Western Areas gold raine
.
The Group's search oruranium has been expanded and muin et a
of further target areas are presently under investigation In the
SwakopmundSwakopmund district of South West Africa the uranium texploration
conjunktion programme in conjunktion
with Union Corporation Limited
Compagnie Fr^nglisedes Petzoles hid Aquita^fineSW continues
and initial scout drilling has revealed some grade uranium .
Directors MAY
Panidos of gold recovered by gravi wots
Group's Group's research inte improved nehods of gold os
s^zenyin laboratory tests that mashing the
vi rastrade bi precis^le
motion
conreded conreded motion
can
( "
affesency intresse the affesency
of the separ Ste Pp
if
Paes
Ww
min^'ralisation Work is proceeding on this grant and others and been the formal
the results of
agreement reached with the Fijian Governmeni Governmeni
drilling and additional follow work are being the taxation provision any mining operati that
Da
evaluated The mineral rights acquited by the Group during a
Elsewhere in
might toselt a Australian Angio American's own
exploration prospecting programme in the vicinity of the old Afrikander Lease
in the
teams are carrying out initial surveys and drilling in areas
Klerksdorp area in 1966 were caled to The Atrikander Lease sidered prospective for base metal
con*
during mineralisation Limited
the year in exchange for shares in that company
Anglo American Corporation of Canada Limited has continve^
The Corporation now provides Afrikander Lease with administra- do participate with Hudson Bay Exploration and
Development Development tive and technical technical services services
RIT The energy crisis stimulated a significam increase in the tempo
Company Limited in programme of exploration the Yukon tenitory Ontario Quebec and in the
Tent~toties coal prospecting in South Africa with a number of international of Canada Hudson
North
oil companies and other international
Bay also explored on its osv^raccomt in the
raRLeE indvasingly ad^flve The
organisations becoming provinces of Manitoba and Saskatchewan In Manitoba howCIOL
pene
Group has also increased its own coal
tecem provincial government
Shenae
prospecting ktivitesktivites and has enlarged its already extensive coaf exploration ventures
proposals to participate in future
reserve notably with further steam cal
give rise to concern azt have caused the
reserves in the
emas Transvaal In particular ^ large exploration programme to prove steam coal
company to redirect its progtanime f^r 1975 Charter
a.
deserves by open methods for Amor Colliery's requirements
Consolidated Limited continued to prospe t ^finvarious
aetn was completed and a similar programme was launched
parts of the world An exploration progratame for tin in Malaysia ^fin
aint Colliery Attention has also been
at the Kriel which Charter has an interest led to the discovery of a
given to the proving and assess- significant orebody in South Selangor in 1974.
potemially
Rann ment of metallurgical and steam coal reserves on Group properties this
The evaluation of
for bodh existing domestic and future export markets
prospect will continue during the current year The imeti
In Botswana an extensive reconnaissance drilling programme
was begun in March to locate deposits with
gation into the exploitation of tin deposits located off the west coast of Thailand has proexoded with the fe...sibilitystudy and the
potential while in Swaziland ilie
metallurgical cul design of an all weather dredge being in advanced of
Group was commissioned by the Government to undertake additional drilling for steam coal for
stages prejura-
tion Through its 25 per cent interest in an international international consonium
led
power generation purposes
by Home Oil Charter is participating in exploration for oil in the
The Group has been active in Rhodesia where the investigatio
United Kingdom sector the North Sea Drilling of the first
investigatio of serpentinite for nickel and copper continued
expioratory well on Block 210/19 was completed in August ban na
Exploration shows gold was carried out
for
mainly in the Umali district but no significant
significant
of hydrocarbons were encountered Drilling f
second well either on Block 21019 or on Block
depuis~ts mere discovered stage reconnaissance
Started in
prospecting - course of this
is
38/2 during the
an area 1/50 1/500 square miles in the Rhodesian lowveld
year now under consideration Exploration pro~
and work was conducted to prove the extem and
grammes for base metals continued last year in the Iberian Penin-
clay quality of fire deposits in the Wankie area Investigation into the chrome potential
sula and in Ireland During 1974 ibe two Brazilian joint
of the Great Dyke'continued Dyke'continued during the year and included drilling the North Dyke A copper deposit near Shabani was drilled and
venture prosp^ding prosp^ding com-
panies Unigen Geologia e Minera^^So A and Jacobina Goodgia e
he iilts ateleing~ ateleing~
...
Mineraci^ S.A. which Group companies hold ^ 40
In Australia lack of definite
interest were merged and Unigen is
per cen
guide lines for foreign investiment rimber of
actively involved in 5
continues to ialul^t the activitesactivites of foreign mining companies and
exploration projects various parts of Brazil Todke Todke
conglomerates in addition there uncertainty regarding the role which will be
one interesting gold target on auriferous
in Bahia has been identified and this
at Jacobina we
is
played the new Federal body the Petroleum and Minera
Authority Hovevet
dziiled In addition Anglo American
target
currently bene
Hovevet prospecting has continued in all States and -examined
CorporationCorporation do Brasil Limit~ d~
there have been some vikomaging results The proposed
number of raining raining properties during the year and work |
operation Lasaf the Blue
mining
Spec goldantimony goldantimony deposit in Westerg
on some the more promising of these will continue in 1975
Australia avas evaluated duting the year and osidered
iS
com-
mercially feasible Development of the project mi^er
Australian-
RESEARCH The major effort at the
Angka American's management has begun and mining is
Anglo American Research Laboratories Laboratories
expected to begin
1976 1976
during 1974 was again Tonwards improving gold recoveries a
At Namosi in Fiji where Australian
:
-existing operations and further substantif
Anglo American has Until
success was achieved
joint venture with Amax Inc. the project
recently the work was largely directed towards sundhe
manager drilling has continued Reconnaissance drilling the
operations but underground studies with similar aims
has indicated a substantial zone of copper minmearjaolrisaatnioomanlyin
^fin
are no
progress using techniques developed previously the suits
investigation investigation The
- porphviy environment and grid drilling is now being carried
computer applications section and geologia
project oil f^r assess tonnage and grade An important development has
laboratory continue to contribute to the
addition
success of this project
computer techniques are now being applied to
Directors review
optimisation of uranium recovery recovery circuits on Group mines
Hie unforeseen techinical problems at the Pikne mine ^fin
a complete early warning fire detection system for mines was
completed and the system is now in
a Botswana created the opportunity for significant research effor
operation It involves three
to be directed towards their soltation In particular ^/ventionhas major aspects of development a combustion particle detector in
been paid to the concentrator concentrator circuit and iinal
' extremely sensitive gas analysis system and
:
freque KY nickel
treatment of copper
concentrates prior to smelting Water treatment and other
a
analogue telemetering system In view of the need for the
most environmental work on the mine's behalf has also
efficient use of electrical energy sensitive
demand Emvironmental Emvironmental protection studies
continued monitoring and control
maximum
are assuming increasing general
systems were developed both for mines and
importance especially on some of the Group's older operations and large electrical are furnaces A number of smaller projects related
efforts to overcome these terin problems are being expanded to individual operating problems were undertaken An
a important An example has been the successful connaissioning of neutralisa-
tion plant at Kroendraai near Witbank In earlier
aspect of the Laboratory's activities activities is the training of electronic
technicians This scheme which operated
tories mineralogical work
years the Labuta-
need to be expanded in the
throughout the year
was largely a service function more
near future
a
recently with the installation of date and sophisticated equipment more important research work is being undertaken
During the year the Group entered into a third joint
with CJB De El Bimited
venture-
through one of the
the fields not only of base and other
in established canner with Oronzia De
joint venutes
diamonds and coal In the fuels
metal recovery but also of at using technology in metal
Nora Limited of aimed
on the beneficiation of
technology section work was done
fine coal and on chemical methods for
veloped in
recovery which the Group has de-
conjunction with complementary technology availabe
removing ash from coal
elsewhere Significani progress been
At the Electronics
:
and equipment
made in all ikteo ventures |
Laboratory the development and design of evaluated
reagents and technology ate at present being
by potential customers
.
14th March 1975
40
. .
on,
%
NI r
rg
:
Ne
:
oy
G
fo
"-<
y
Annual financial statements we
for the year ended 31st December 1974
Gg
The annual financial statements which appear on pages 43 to 59
April were approved by the board of directors on 10th
7 are signed on its behalf ;
|
1975 and
.
ee
;
Directors report 43
Consolidated balance sheet 46
income
Consolidated income statement 48
Income statement 49 -
:
7
ae
Balance sheet 50
=
_ |, Notes the financial statements 52
application Statement ofsource and Subsidiaries 56
of funds 55
Investments 58
;
f, bo
Directors |
_
H. F. Oppenheimer
oo
wk
;
Keith Acutt
y
T. Goldfinch Managing Secretary oe
o ,
G. AccoCuhienf tAccaounntatnt *
oan,
me
Auditors report ST
e
emnact nr
wii en
wre
In the members
.
ennye
Anglo Ainencan Corporation of South Africa Limited
t
2h
#
PTEse group NE
We have examined the annual financial statements and the
emia
annual financial statements set out on pages 43 to 59. The audits
ns
of certain subsidiary companies have been carried out by other firms
^fin out opinion the statements fairly present in the m^/nner
required by the Companies Act 1973 as amended the financial .
wsfe
position of the Corporation and of the Group ai 31st December
and the results of their
1974
2
operations for the year then ended
aTaunnae ALEX AIKEN & CARTER Chartered
eee
GOLDBY COMPTON & MACKELVIE Chartered Accountants S.A.
es
60 Johannesburg 10th April 1975
a
oe
a The directers have pleasure in submitting the annual financial
f statements of the Corporation together with the group annual
MM
4 financial statements of the Corporation and its subsidiary com-
panies panies the year ended 31st December
PREMIUM SHARE
The share prem^mincreased by R8 000 to R82 772 000 due
to the exercise of the 52 000 share optioannsd the issuofe1 000
incentive scheme shares mentioned above less shareissue expenses
of R24 200
STATEMENTS | CONSOLIDATED FINANCIAL
ty AS
B The commerus that Sllow relate to the consolidated balance sheet and the consolidated income statement of the Corporation and its subsidiary companies
CURRENCY RESERVE
Net exchange surpluses arising principaily from foreign currency
fluctuations have been transferred to a currency reserve which stood at R4 260 at 31st December 1973. At the end of 1974
,
CAPITAL
:
< R324 000 was transferred from the currency reserve to cover a net
Fae oa
Yaa
3.
The authorised capital remained unchanged during the year at
R20 000
the end of 1973 there were 645 100 ordinary shares of ten
certs each under option to senior mem rs of staff During the year
options over 000 shares were exercised and options over 12 500
deficit arising this year from changes in currency exchange rates
The reserve declined by a further 2159 000 due to the revaluation
of the opening balance to the rates of exchange ruling at the
at year end and stood at R3 277 000 31st December 1974
December a
shares apsed Accordingly at 31st
1974 there remained
scnanes of 589 600 shares under option Since end the financial year no depreciation further options have been exercised and 3 000 options have iapsed
LOAN CAPITAL As result of the
during the year in the value of the
pane Accordingly 577 600 shares rerasin under option at the date of this rand against the US dollar .he Corporation's rand obligationvas
repor
increased by R1098 R1098 000 in respect of its two U.S. collar loans
At the general meeting of members held immediately after the
annual general meeting of the company on 24th May 1974 members
neither of which is covered by forward exchange contracts A corresponding increase has been made to the book cost of the
:
approved the introduction ofa shareincentive scheme for the benefit investments acquired with the
dollars :
of senior employees including directors
salaried employ- raised
holding WH
ment or office of the Corporation and its subsidiaries The balance
at the time the loans were
granted of 786 000 undinary shares for which options had not been
under the existing option scheme plus a further 500 000 crdinary
OUTSIDE SHAREHOLDERS INTERESTS
shares were made avail^blefor the new shareincentive schemeA The decrease during the year of R68 133 000 in outside shate-
000 total of 1446
shares were issued during the year in terms of
+ the scheme at the market prices ruling at the time Accordingly
holders interests in subsidiary companies to R57 101 000 was
mainly due to the liquidation of H.D. Development Limi il HDD
' 000incentive scheme shares remained unissued at the year end
As a result of the
52
the
i 14/6 issue of 003 shares under shaie optien ) By scheme and 14/6
under the new shareincentive scheme
000 shares Re the ordinary issued share capital of the Corporation increased from
This subsidiary company held the group's ^finterest in Engelhard Minerals and Chemicals Corporation EMC and following the exchange of the Group's EMC shares for Minerals and Resources
Corporation Limited Minorco shares HDD vas liquidated
beginning of 129 889 300 shares at the
1974to 131 387 300 ordinary
shares at 31st December 1974
n
further000 INVESTMENTS _ Since the end of the financial year a
shares have
6
issued - been
consideration scheme the investments by codinary
in terms of the share incentive
for a total
-
of
R371 070andas
the date
of this
report
share capital of the Corporation is R13 630_in 630_in
456
of 10
eeachach fully paid
300 shares cents provides general | The Companies Act 1973
that
to
directors authority to allow andissue shares shall bevalid only until the next
annual general meeting ic in the case of the
to
During the year the book value of the
held the
Corporation and its subsidiaries decreased by R18873 000 to
R449 000. Unlisted investments increased by R38 16000 16000 while listed investments decreasbedy R57 189 000 mainly due to the
acquisition of the unlisted Minorco A shares in exchange for
the listed EMC interest mentioned above Substantial acquisitions
were offset by the disposal of the EMCinterest The market value
sherefore Corporation 23rd May 1975. Members will
be asked to consider an of listed investments at 31st December 1974 was R1 057 818 000
assfinary resolution attheforthcoming forthcoming annual
placing unissued generreaqulired theremaining
ordinary shares not
meeting and exceeded the book value by R763 000 compared with an
for excess of R762 776 000 3 the end of 1973. The unlistedinvestments | -
directors scheme control the purpose of the staffshare option scheine or the
under incentive of share the
the
:
higher were valued at 40,5 per cent _
RIS5.732000
than the book valuevalue of oe
Directors report
PROFITS APPROPRIATIONS The profit for the year was dealt with as follows
Profit the year ooo.
Dividends on preferred stock
1974
2000's Row's
75746 75746
1973 7000's R300's
58 240
DIRECTORATE
The following details of changes which occurred in the
corn-
position of the board of directors from 1st
of this report
January 1974 to the date a0
No. of thres percent ooo...
No. 91 of Juree cent serenteeeaeens
Dividends en er fina yshares
No. of a Interim
7,5 cents share ++.
Final No. 77 of 21,5 share ..__
143
143
9852 28 248
:
distributable Transferred to
reserve oo. eee
eee cecenen
ene
Transferred to general reserve ......)
Lump sum contributions net tax to staff pensicus fundisn respect of
prior years covering improvements
38 386
:
5 559
}
143
143
8443 8443
22733 462
40
24001
.
Appointments
Dr Z. J. de Beer
15th January 1974
E. Gush
15th January 1974 D. G. Nicholson 15th January 1974 N. I. Oppenheimer 15th January 1974 D. A. Etheredge
Kesignations Withdrawals
D. O. Beckingham 14th January 1974
T. BrunI
14th January 1974 Sir Frederick Crawford 14th January 1974
Dr Z. de Beer
Alt to Ogilvie Thompson
14th January 1974
1974
in benachts effective from 1st July 1974 1...
1 899
_
Dr H. B.
E. P. Gush
sern,wasr" DyeT
Alt to Sir Philip
Oppenheimer mes
72 849
55 503 Alt to D. A. Etheredge
14th January 1974
260 ee
Unappropriated profit
2737
1st July 1974
E. Newson
swet brought oe forward from previous year ol. 10 348 " Crawford 9070
Dr M. G. M. Atmore All to E. P.
Alt to Sir Frederick
Adjustment thereto arising from
Gush
14th January 1974
changes in currency exchange rates =
25th July 1974
eot
1973 inchados prior
D. G. Nicholson
year
el)
Afasimniss
G. A. Carey
Al G. C.
Boustred a
279
( 1459
Alt to W. G.
14th
Flatcher
EweAes January 1974
'
25th July 1974
w
Unappropriated profit 31st 31st December
10627
7611
Dr H. B. Dyer
te 1974
eee
ease eee
A. W. Darvall
Alt to J. W.
Shilling cetecnteteeeceecce
13 524
10 348
J. de
Haren Alt to Dr Z. Beer 30th June 1974 25th July 1974
OWT
Dr H. B.
D. A. EtheredgeEtheredge
Dyer
Alt to Sir Albert
megs,Lt Alt to G. C. Fletcher 30th June 1974 Robinson
25th July 1974 |
cents declated on 27th February 1975
31st December
making a total for the year ended
1974 of 29,0 cents per share This
represents an increase of 20,8
distribution
24,0 cents per share paid last per cent when compared with the
and final of
year comprising an interim of 6,5
17,5 cents Dividends of three
declared on the six per cent preferred
per cent were
6th December 1974
stock on 7th June and
:
Be!
AUDITORS
:
.
Messrs Goldby Panchaud &
the Corporation
Webber who act as join auditors to
their
with Messrs Aiken &
Carter amalgamated practice with certain other firms with
1975. The amalgamated practice is
effect from 1st March
Goldby the name
Compton & MacKelvnio ew being conducted under
J. A. Holmes
:
Ail to N. Oppenheimer
25th July 1974
J. D. Johnson
Alt to J. Ogilvie Thompson
25th July 1974
ee
A. Johnstone
Alt to Berning
25th July 1974
7
D. E. MacIver
Alt to Sir Philip Oppenheimer
25th July 1974
W. Pain
1. W. Shilling
30th June 1974
G. A. Smith
Alt to S. Bernin 25th July 1974
Dr H. B. Dyer AL o D. A. Etheredge
251 July 1974
Johnstone
Alt to W. Boustred 25th July 1974 :
W. Gallagher
31st December 1974
:
to G. H. FINANCIAL STATISTICS appear on The financial statistics for the ten years 1965 1974
Alt W. Relly
25th July 1974 ae All to G. Nicholson
a
25th July 1974
|
Po
oe
RArpouieris
G. Langton
BB
1st January 1975
O. P. Koevor
Alt to D. A. Etheredge 21st February 1975
5. B. Kessuth
;
Alt to Sir Albert Robinson
21st February 1975
G
Dr Z. J. de Beer Mr E. P. Gush Mr D. G. Nicholson and Mr N. F.
g Oppenheimer who were appointed directors of the Corporation on 15th January 1974 retired from the board in terms of the Corporation's articles of issociation at the annual general meeting held on 24th May 1974 and were elected directors at that meeting
|
Mr D. A. Etheredge and Mr G. Langton were appointed to the
board on 1st July 1974 and 1st January 1975 respectively and in
terms of the Corporation's articles of association they retire at the
forthcoming annual general meeting In addition Mr F. S. Berning Mr W. G. Boustred Mr C. J. L. Griffith Mr H. F. Oppenheimer
Mr G. W. H. Relly Sir Albert Robinson Mr S. Spiro and Mr W. D.
Wilson retire by rotation The retiring directors are all eligible for
;
election
;
:
Details of the beneficial and beneficial interests of the
directors in the issued ordinary share capital of the Corporation at
31st December 1974 appearing in the register of the interests of the
directors in the shares of the Corporation appear on page 88 of this
report
There are no service contracts granted by the poration or any
of its subsidiaries to any directors of the Corporation
SUBSIDIARY COMPANIES
Details of subsidiary companies in which the Corporation has a direct or indirect ^finterest are given on pages 56 and 57 while particulars of special resolutions passed during the year by these companies appear on page 88 of this report
GENERAL
7 *
The directors of the Corporation wish to thank all members of the
staff of its various offices for the loyal and efficient service given during the year
Consolidated balance sheet 31st 31st December 1974
ANGLO AMERICAN CORPORATION OF SOUTH AFRICA LIMITED AND SUBSIDIARY COMPANIES
1973
2000's
2000's
14000 1241 4759
20.000 20.000
17748 17748
cs
many
66 094
amy
4725
en
Essen
pattem
246933 246933
eve
4260
cme
348 ;
|
*
TOONS 261 541 103
ted
IS
350
7 48 520
Acean
398 628
125 234
cSeabe n
ae
To,a
ot
naaha aa
316 139
ee
eAnce
876 8 527
PLR
14 369
SS. aver =
~
Capital
Authorised
5 ;
.
000 000 ordinary shares cents of
1
241
250
six
per
cen
cumulative
preference
0...
shares of
R4 758 750 six
R1 each
per cent cumulative preferred stock
oo...
eee
Issued note 2
; 2
131.387 131.387 300 ordinary shares of 10 cents each fully paid R4 758 750 six per cent cumulative preferred stock
0.02... premium Share
. __...00
Less Excess of written cost
book value of net assets at the dates
distributable :
distributable reserve note )
Distributable reserves
General reseTVC ) Axe Currency reserVT note 4).
Unappropriated profit
;
capital
Loan capital
'
o
fhitetesceneveteneeseteneenseeteeeeeeesee iecceccn,
shareholders
Outside shareholders interests in subsidiary companies nose ee
eee Associated companies and others Gti eteenseseneesenenterenpencecceteses.. r
Creditors e
Preferred stock dividend Taxation
R000's
14.000 14.000
1241 759
20 000
R000's R000's a
,
.
13 138 4759
17897 17897
74 39 4797
a
296 508 393 593
546
. 139 d 57 101
342
nvestmen's
Market value 057 943 000 Markeltisted at cust less amounts viritten off 10er 6:
R1
818 1973 3
treteeeeretee
;
cost less Inlisted at
amounts written
written off and 6 Directors valuation R218 785 000
provision note oe
teeeceneaenwcneneccence
R000's 293 978 155 732
Property Property mineral rights and equipment 8 nose
Loans
Loans
Debtors and cash
Debtors
shon
on and and on hand Cash
deposit at call
notice
jj
11804 11804
232 531
31160 31160 225 078
238
22 695
238 430
261 125
Consolidated income statement for the year 1974
ANGLO AMERICAN CORPORATION OF SOUTH AFRICA LIMITED AND SUBSIDIARY COMPANIES
Income from interest fees and other sources after deducting administration expenses note 11 Surplus on realisation of investments
Dedua
Interest paid
Loan capital ................ se others eeerseese es een e cee nec ee
Loans by associated companies and others
Expenditure on office research and transport equipment Contributions to staff pension funds Costs of prospecting Provision against investments
wee
Provision against loans
7
Group profit before taxation ._..
Provision for taxantotie o 1n 2
__
Group profit after taxation
Net loss gain arising from currency fluctuations
Lest Transfer from to currency reserve
:
.
Appropriations
Dividends :
. On preferred stok:
.
No9.0 of three per cent declared 7th June 1974 No.9 of three per cena declared 6th December 1974
final per share On ordinary shares
;
share
No. 76 interin of 7,5c per share declared 26th
No. 77
September 1974
21,50
declared 277th February 1975
distributable reserve General reserve
:
of tax to staff pension funds in
years covering improvements in benefits effective from 1974
Ns
.
Unappropriated profit 31st December 1973
i /
Adjustmentthereto arising froin changes incurrency exchang lates ...
Transfetro currency reserve ofsurplsurpluse uarsiseinsg from
_ currency fluctuations in prioryears 3.
Unappropriated profit
ue
.
:
24735 71226
9556 670
; 3755
:
;
3755
ncome statement the year 1974
a NGLO AMERICAN CORPORATION OF SOUTH AFRICA LIMITED
nvestment income
from subsidiaries 506 9
Income fromingerest fees andother sources after
deducting administration expenises note 11
Surplouns realisation ofinvestments
Interest paid
transport -Expenditure on office research and
Contributioas Contributioas to staff pension funds
equipment
Provision against investment Provision against loans
Dividends
On preferred stock
No.90 No.90 of three cent declared 7th June 1974
On
In ordinary shares
lo 76 interim of 7,5c per share declared 26th September 1974
77 final of 21,5c21,5c per share declared 27th February 1975
ropriated profi 31st December 1974
on
re
i
Balance sheet 31st 31st December 1974
ANGLO AMERICAN CORPORATION OF SOUTH AFRICA LIMITED
1973
R000's = R000's
14000 1241
4759 20000
12.989
|
4759 _
Capital
Authorisedordinary
Authorised 000 ordinary shares of 10 cents each
241 250 six per cent cumulative preference
R4 758750 sixper cent cumulative preferred stock
iy
aN
;
Issued ) note 131 387 300 ordishnareas rofy10cents each fully R4 758-750 six per cent cumulativcumulaetive preferred stock
- paid...
178.700 178.700
623
ay
.
oo 9323
2271.546 2271.546
.48 20
_ 320066
16034
we 290 786 G
wees 306 820
876
2763 3,
11.208
Preferred stock dividendi No. 91 and ordinary dividend No. 77
847 36
; _
4,
aoe
acd
meine
Letras
oe
gee
tis
ca
racwoer
Sc
R000's R000's
14.000 14.000
1.241 4759
20000 20000
13 138 4759
17 897
82 772
186 262
286 931
035
aa
Investment in subsidiary companies . Unlisted shares at cost less ainounts written off and provision
ae
Loans
Listed at cust less amounts written off
Market value R618 020 000 1973 R593 376 000
less amounis - me Unlisted at cost
written off and provision
Directors valuation R3"263 000
Loans
associated companies and others less provision
Debtors and cash
B Cash on deposit at call and shon notice and on hand
Pot
Office research and transport equipment note b
93 309 152 563
.
91426 91426
245872 245872
679
106 105
213 326
19 707 193722 193722
210 430
1973
ROOD's
ROOD's
105 843 105651 105651
212 494
20 576
110384
121 812
13778
205 265
219043 219043
r
C
-
375,732 375,732
Notes on the financial statements
fey
1. Accounting policies
a
The
listed
and
unlisted
predomi-
investments of the Group are predomi-
nantly income earning term holdings Where in the opinion
of the directors a permanent diminution in the value of invest-
menis has occurred provision for such diminution is charged
against current profits
b
No
depreciation
of land
buildings
and
fixed
a
unprovements is
provided *.
3 distributable reserve The increase in the distributable reserve arises as follows Balance at 31st December 1973
Adjustments thereto arising from changes in currency exchange rates
;
Profit un sale of land by subsidiary
Distributable reserves :: Office research and transport equipment is written off in the
year of acquisition
3
4
'
c Assets and liabilities in foreign currencies are expressed at the
approximate rates of exchange ruling at the year end
d Prospecting expenditure is written off in the year in which it is
incurred
2 Due to the nature of the group's activities the directors
figure are of the opinion that to publish a
for turnover would be
meaningless
General reserV
The increase in the general reserve arises as follows
:
Balancaet 31st December 1973
Adjustment thereto arising from changes in currency exchange rates ..
Corporation
R178 700 000
_
Appropriated this year
7 300 000
Group
R246 933 GOO
5.000 5.000
559
~ :
2 Share capital :
shares ordinary The unissued capital comprises 8612 700 of ten
cents each and 1.241 250 six per cent cumulative preference shares
of R1 each
Currency reserve
The decrease in the currency
Balance at 31st December 1973
R186 000 000 R279 707 000
In terms of resolutions of members three million ordinary shares
Adjustment thereto arising from changes ^fincurrency
exchange rates
500t0h0e0scheme discontinued during Share option scheme
posal of directors but when
shares were placed at the dis-
was
786 000 the year options had not been granted in respect of
shares which were transferred to the share incentive scheme
at that stage Options were granted for ten years or until retire-
whi hever ment
is the earlier Options granted in terms of the
scheme are as follows
5 Loan
capitcaolmprises Loan capital
comprise see directors report
the following
Loans of
a Swiss francs 50 000 000
b U.S.S9 321 000
.,..
Salance Lapsed
;
during
a
33 557.000 -
Granted on 27th August
31.12.73
year
31.12.74
82000 82000
|
1969 at 650 cents a share ..
Granted on 19th -
January 1972 at 537
270 800
: .
Granteodn 1st August 1973 at 700 cents a share
000
7 500 500 3.000 500
2.000 5000
|
|
800
R49 000
A
R48-520 R48-520
173 800 162 000
The differences in the rand equivalents of the U.S. dollar loans
arise as result of exchange rate fluctuations and the under-
mentioned repayment of loan b Associated companies sub- |
loan 000 participate in
c to the equivalent of R15 875
1973
R15 449 000 Si
;
:
,
:
b"| dSihsaprosealincentive scheme 1500000 shares were placed at the
of directors and 786 000 were transferred from the share option scheme Of these shares 1 446 000 wereissued during the
of year leaving a balance 840 shares available under the scheme
follows Details of the individual loans are as
a
The :
loan of Swiss francs 50
000 000 5,75 per cent
bears interest the rate of
per annum ~
and is repayable by 15th November 1987
subject the undertaking that the Corporation will if possible
purchase in the market
Tuhnreestrreimcatiendicnognt7ro1l92 100 unissued ordinary shares are under the
of the directors until the forthcoming annual
in the to 1986. The Corporation has
the right earlier any annual interest
November
to redeem
payment date at a
years 1983 the full loan premium of
;
0
par The 3.5 per cent reducing by 0,5 per cent per annum in the years 1975
to 1981 and thereafter at
servicing and repayment of the
loan is covered by forward exchange contracts with the South
African Reserve Bank
The Cor- b The kan of U.S.S9 900 bea interest at the rate of 6,96 per
cent per annum and is repayable between 1978 and 1982 subject
to minor repayments of U.S.S104 000 each year to 1977.
poration may in certain circundtances make repayment earlier
000 000 c The loan of 000 bears interest at the rate of 7,5 per
cent per annum and is repayable at par in instalments of
SI 500000 02 1st March in zach of the years 1977 to 1981 in-
S2 clusive
600 on 1st March 1982 and
600 on ^ st
the $ March in each of
years 1983 to 1987 inclusive The Corpora-
tion may in certain circumstances make repayment varlier
000 The lean of R79
}
is represented by 5,75 per cent registered 7
unsecured notes which are repayable at par on 31st March 1982
unless previously purchased or redeemeid in accordance with the
note conditions
Guazanters with another in respect of the United States dollar
and Deutschemark loans referred to the preceding para-
graph to the extent of the equivalent of R7 563 000 at
347 000 which current exchange rates of
off to associates
R4
Hi
has been laid
iv Other_guarantees Other_guarantees given by the Corporation totalling R12717 R12717 OCO 1973 89 000 and by subsidiary companies
totalling R13 858 000 1973 R12 154000 154000 for the fulfilment -
of other contractual obligations guarantees have
been obtained for R3 678 000 1973 459 000
b There
are
commitments
in
respect
.
of undertakings to subscribe
or procure subscriptions for shares and to make loans to
mier concems
*
8 Property mineral rights and equipment
The amount of 0GO shown in the consolidated
following sheet under this heading comprises the following ~
balance
6 Outside shareholders interests
The interests of the outside shareholders in subsidiary companies
amoented to R57 COO 31 31st December 1974 1973 8125 234000 Their interests in the excess of the market value and
directors valuation of listed and unlisted investments respectively over book values was R2 312 000 1973 R15 950 000 which is not comparable with 1974 principally because of the restructuring
during the year of the H.D. Development Group
SS
Fixed - assets land buildings and
fixed improvements at cost ^ rNET book value 1st January 1953 Mineral rights at cost
less amounts written off 20.000...
Office research and transport equipment written off- 2.0...
1974
P.
1973 R
;
9 659 000 eo
2 145 000
_
000
2116000
: _
RIT 211 890
.7 Contingent liabilities and commitments
a There are contingent liabilities in respect of ;
A guarantee with others to a diamond mining company in
A register of land and buildings is open inspectica by members
or their duly authorised representatives at the registered office of
the Corporation
:
os respect of an agreement which that conipany has with The ~
Diamond Corporation Limited The Corporation's obligation
has however been fully guaranteed
ae
:
Guarantees with De Beers Consolidated Mines Limited in re-
spect of the servicing and repayment of foreign loans to Highveld Steel and Vanadium Corporation Limited of -
Deutschemarks 000 and 000 1973
=
9 Income from subsidiaries
Income from subsidiaries comprises the following
1974
Dividends 1.000...
InteresInteretst
cadence ee
>
R
0473 000
35.000 35.000
=
;
1973 R
13 010 000
575.000 575.000
D.M.100 000 000 000 000 Servicing hange D.M.10
ni
= F
-1.5.520 and .F.65 000 The and repayment of the loans are covered by forward
contracts with the South African Reserve Bank
Fees
eect
eeie lle
ccesesaeeececeleetens
3
2
721.000
898 000
R11 000 R14483 AV
:
undertakings ta ienders to Bamangwato Con- 10 Directors remuneratior
Limited and the Republic of Botswana in respect of
amounting to the equivalent of R37 000 at
exchange rates of inan in United States dollars
themarks and rand whereby the Corporation with rundertakes to arrange or procure 37,5 per cent of .
an^"alternate directors The apzeyate apzeyate amount payabie to directors by
the corporation and subsidiary companies is as follows :
1974
1973
R
R
_ 000
75.000
additional to that already arranged which may
to complete the Pikwe mine A 64 per cent
the undertakings has been laid off to assisted assisted
The requcoi ntinr ueune til m certae in rn equit rems ents BES as to completion of the project ive been met
980 000
ae R1 061-000 061-000
Pensions of past directors for services
in managerial z,, acity
R41 000
942 OX
017 000
R40 000
tf
" 11 The net profits of the Corporation and the group have been
arrived at after taking into account the following
1974
1973
1974
:
1973
cR
R
Administration
R
R
"
.....
fees
ed<b 000 71000 71000
1 463 000 131000 131000
1 003 000 3000 3000
ere
12 Provision for taxation
es
ie
Provision for taxation has been made as follows
me
|
1974
1973
its
Corporation
Group Corporation
a:me
R
Great
a
me
+
South African
R .
R
_.
1709000 000 3310000 3310000 4863000
sae 746 000 000
617000 4763
el Net adjustment
2 301 000
=
4934 4934 000
020
9 626 000
in respect of nf -
e
R2 000 942 000 i
previous year _..
82 000
tae*1 8000 43000 43000 70.000
383
R4
R3 000 CCO
;
Source and application of funds statement for the year 1974
>
y
Group
Source of funds
/ R000's
f Profit before taxation and outside
shareholders interest -..-......,ccceseseceece js
AM
4
Provision against investments and loans
857
less net adjustments crising from changes in currency exchange rates ..............-00006
7878
Corporation
K000's
49 607
7349
735
'
56956
Proceeds from shares issued ..-.2.......-.-.--
Loans from associated companiaensd
others -neeeneeeeeeecenecceeststteeteseeeess
8 446
599 || 533
5 133
;
Property mineral rights and equipment
16 666
>
net decrease
one
cece
ee eee eteeneeeece
86
F
193 532
8446 8446 772 12 188
8 860
048
169 222
Application of funds
Investment in subsidiary companies
Net increinalsoaens 22... ..cseeeeeeeeecteees
Decrease in cost of shares
senate
leseteeeceseres
a
.
45-156
12 070 33386 33386
"
Loans associated companies and others investmensotlsd less -2......0c ec ecc5 eae. s: 992
;
to
;- Repaymentof loan capital
89 047
72
Dividends stessssnecrtseescerantacscee
4942
eecescetesnsecsebisivecceenetess
386
mp sum contributions net of tax to : : I pension funds in respect of prior years . 1899
companies
222 o ee cene ce ee
4.194
2 193.532 193.532
834
262
72
383
386
.
1899
.
222
169
wee
NS
55
oe
eemnt Subsidiaries in which the Corporation
om
has direct or indirect interest
[
.
.
I
. -
\
"
ii
: i
i
.
.
Incorporated ir South Africa
.
Issued share capital in Interet share capital
;
Direct Indirect
1984
1973 1974 1973 1974 7973
1974
1973
1974 1973
:
2000's RUDO's Per cent cent
R000's
RGOU's
ROOG's
ROOTS
:
kk
HE
I
i
i
i t :
i
; z +
:
oan
i
.
i
African and Ordinary Eun pean Investment Company Limited sees
Pirictence African Loans dad Imestments
Ordinary ..
Preference oo...
Angloswari Investments
Amend
faktings
Limite ..
Proprietary Limited
Limited ..
Ege Investments Propetis Holdings L.S. Properties Proprietary
Marjoram Milleur
Mileur i,, estmentLsimited
Limited Ordinary _..
Preference |.
The New Era Gorsedda-
Oriode Investment ||
Rhocha Holdings Limited
voenee
Sanh African Mines Selection Limitel .
Theon Limited
Czerpuder ervin
a
Anmerova
Computer
Computer Services Limited
ees teeteccceco ee,
.
eee eeee An^^Aomerican Pragerty Leasing Limna^ oo... tee teen
. .
Property exams
:
Land and Estates Limited Armetona
A
Pugienties Proprietary's Westander ae Fachange Building Proprietary Limited Headstone Investmens Limited weno neces :
2
Zawater Limited
Limited .
ee
-
.
F
3
.
:
Program~
22,
7
7
'
.
Anglo American Prespecting Company Lim^"tei oo,
Anglo American Prospecting Company Suezh Limited
Arena Propr(iPreoptriaetraryy Limited P. Rupping Minerale Eiendoma Beperk Tafund estments faced
Incorporated in Rhodesia
Uo,
und Ihr investmENIS/
Agned Securities a
a Agned
=
*
Limited
oo
PrivateLimited wae
Ba Mies Grimsedidated Mines Holdings New Rhodesia Imestments Rhodesia
from unins
Limit esdeervenee
Ar^^oAr^^oAmerican Creputationi Sir
Anglo American Cesian Serviceat
Inscorporated Inscorporated in Luxemboug
a
,
150 3 500
81 4180
500
81
...... ...... - - ...
- -
-
:
103
216
8125211
3000
8125211
3
8125211
129 129 8125211
2
8125211
21 20 18
21
18
818621
818621
111118
Still
818621 Still
818621 111118111118 Still
~
111118
Still
fi a
: 3
550
an
26 50x
3.
id
*
8831521
41 8831521 58a 0. 8831521
8831521
26 a
5000 8831521
8831521
es A!
7
3881581 1118712
8111
3881581
8111
3881581
1118712
8111
3881581
Le
3881581
1118712 1118712
1118712
8111
- -
81
81
a
2 100
20935
20935
ty ne
.
_
4320 9658 10:52
_
.
320 9003 9003 22 468
_
:
1 Sos
_
_
_ -
,
" 631
747 044
$ 505 8646 8646
_
-
1747 3045 3045
-
5 ses
676
aed
_
_"
912
180
_
506
_
_
=
:
3460
124
bd
.
200
we
coe
3660 12
bd
2
300
a IM
_-
_
_
_
100
13
100
:100
=
63
- 100
-
100
coo
_
180 207
266
a
159
_
15437
51811
51811
51811
51811
253
66
=
t
~
1237
556
_
_
_
BUTTT
50000
BUTTT
a
50000
_
BUTTT
50000
2
BUTTT
50000
, .
*
100 100 100
:
100 0
=
100 28
/ 11
~
~
-~
_
a
_
_
_:
~
e
_
_
|||| |||| |||| ||||
11 11
ao :
. : .
.
Augux Limited 0
;
&
deat st
.
2
Mae
Axahn Holdings Limited
11.D. Deschresents limitedlimited Oskep Imvestments Imvestments Limited
|
Puscas building Hilav Holdings S.A. __
Ndux HoldingAs.
in Inscorporated Liberia Finn and scenery
~
Anglo Eurogean Holdings Limited Madway Investments Limited
a
z
711 711 a 2011 1631
100 8811
2679 2679 2 312
26.773
2811
8811
.
o
oe
-
a
2811
8811
Fs ou
ae
2011
FFOATS
7
_
1000 300
i
100
USSXO'S
.
_
100
me
. oe
*
Ig,
ise,
-
al
4
os
.
=
ra
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.
5 .
45 N
180
N
56
Financial servi os Ando Amerisky Corporations Central Limised .0......)
Ando America Northem Properties Limited .. 22s eee lene
ForFd ord Dea
:
AntveneInvestments Investments Australia Proprietary Lizrited 20.2222
Australien Anglo American Services Limited 22. eee eeereeneee
Incorporated Incorporated in Bermuda
F^nanceend ^'rvesmorz
Anglo American Investment Trust Bermadas
Marland GoenanyLimited
Incorporated
in
in
the
United
King^sen
ononce and orem
Limited
:
coe ..200.0..0-0
:
in IncorporaCteadnada
and Forceresteners
azio azio Securities Limited .
'
.
Switzerland Incorporatedin '
and SETYASEN TYAV NVAA
3
Batque Holdings AG .200--- eee eee een enn e ene eee serenececheccovsvecsa
:
Anglo American Corporation Management and Services Services A.G. werenceree
Incorporated Incorporated in Botswana Managerial services
AnglAmerican Corporation Botswana Services Services Pty Limiit^/
: ...
20713
. :
:
:
|
:
i
,
; :
,
. o
;
i
HE
ti ie
,
{ oe
. ...
309 105 243
152 563
.
i
|
4
came
epe
Te
Trae
Ch
Aggregate
after
of
profits and tax
South Africa
kvises attributable Limited frowints
Anglo American
.
a
:
a
-
December Schedule of investments at 31st
as a percentage of book value
1974
me
ete
pe
e
So
Sk
i
t
t
ose
Anglo American vration of Canada
Limited
setae ._
re
cewee
At~- dAmerican Corrotations of South Africa
Extogal SARL
;
Anglo American Corpecation Elvalesia Limited
Anglo American Gold Investment Company Limited
Australian
.
Australian Anglo American Limited
Charter Consolidated Limited
Falcon Imestments Limited |."
of Limited Limited Gold Fields South Africa
Hollardstraat Beperk
Beleggings Eiendoms
Johannesburg ER ew rena neemene
Johannesburg Consolidated Investment
Preference shares
Minerals and Rewntices xation Limited Ordinary slates
shares
stersrand Wits
New Central Wits
.
Areas Lid ..
Ogrey Investmerits Limited levestment
is Overseas and Rhodesiar levestment Compatry
Limted Limted Limted
Rand Sciction Corpuitation Limited
Mining and 3 South African T~naneships Cocamion Limited
Finance
Sevan Iinvestments Limited
1
, The Vereniging Limited
j
i
i op ^'
ay,
a
a
*
DoornSontein Gold Mining Company
State Geduld Ehburg Gold Mining Company Limited
Free
Mines Limited
Kinness Mines Limited ...........,
Kloof Gold Mining Company Limited |.
Limited
J President
Holdings Southva Limited Limited
deevewnce .....2. pewenbcens Limited
200
The South Land and African
Exploration ..
Company Limited c Vail Reefs
Exploration Seweeeen treene
Exploration and
os ;
Mining Company Limited 22...
cee
cccseee
Welkom Gold Mining Company L^>mbol Western Areas Gold Mining Company
Levels Limised
Western Holdings Limited 2. Winkelhazk Mines Limited
one
.
Anglo American InvestInmsteLinmitted -.
Corporation Lisad lied
SIC CER
49,41
6.38
0.38 1546
ays
286
6.91
25.63
0.50
0.27
12.85 0.0025
3.12
_
3.99
0.18 021 Q.C4
'
Lived
#&T cers
46,45 46,45
12.15 4.53 0.15 15.18 0736
Qn. 0.57
United Fetes
0,00
11.49
0.04 220
0
2,40
Kiln Products Lumised Messina Rladesa
|
The Messina
Investment Limited Transvaal
Transva l Devek^m Compatry Herted 2.0. abner
seer waecanenee
Shengan~ Nickel Gorporation Limited _.
Mining G^parationLimited Zambia Copper Investments Investments Limited
Land ations
Land Leinand
Vee CLER
Geauty Inked and
*** Fetus
_
5.91
3.47
0.55
072 4.59 040
tars ew DES
032
Lie 1,78 0.34 018
1,92 4.52
37.67
0.87 2.03
2.11
0,38 0.12
Warval Russenburg Platinum Mining
Company Company Limited
General investment .
Achem Imesments Imesments Limi^-al
Imestments Pty Astron
Limted -
Coriander Holdings Limited
Imesterens Epoch Imesterens
Limited
Eurango Pty Limited
First Union General Imestment Trust
0.12
086
~
081
Q5
201
24,4
In 9.19 9.71 3.51 4.72
2.912.91
30
1.06
1.69 7.97
2.07 6.3
0.19
... 026
ek. !! !! r045 ne
5.1 ate
aw
whe
3.09
~_
2.51
0.3 0,91
3,67
09.19 a2 1.04 041 Loo
091
1,03
1 030 QI ax QIS
086
MocambAi.q5u.eL
Finance
Company Limited Corpveation
Industrial
Finance
Corpveation
of A.
Limited
Limited
National Finance Competition of South Africa .
Nedbank and Syfrens U.A.L Holdings Limited -
:
* Standard Bank Investment Investment Corporation Limited
The
Ett |
1929 0.0
Q37 0.57 0,76
028 252 Nee
,
- 0.65 10
BOT Ons aut
wl
0,11
261261
24.1957
Os
20.25 23,14 x
022
5.45 0.8 aie
0.11 ay
9.1 Lis as
wy wis my
wun?
me
Anglo Tramvail CommotidatedInvesterens
Genguany Limited
7 1967/76 ani : aeneece peduenecioee
Dekentutes
Holdings etter erence seenedd
Fidesi Societe Anonyme Anonyme Holdings
FronhardFronhard HamS.o A. Pv ty Limi teda
Rand Mines Limited
7.25 1977196 stack
Other minor holdings holdings
0,0 0,17
1,02
*
100,00
Q10 107
ie S
0.81
100,00 00,00
ROX's 1000'S ROOTS
679 293 978 15 732
_
>
2 Statistics from the consolidated financialfinancial statements
for the ten years to 1974
Number of
Issued
Investments
Equity
sharest
/,, /
1965
127 353 040
1966
1967
128 082 500 129 820 400
1968
129 820 400
1969 129 820 400
1970 1971
129 820 400
129 820 400
- 1972
129 858 200
1973 | 389 300
/
1974
387 |
reserves
R
189 225 000
204 685 000 222 260 000
value R
170 188 000 179 360 000 212 835.000
value _ R
419 893 000 490 104 000 616177 616177 000
237 050 000
253 362 000 271 283 000 292 344 000
262 299 000
283 117000 117000 307 335.000 335.000
434 881 000
956 355 000 818 138 000 688 610 0004 927 378 000
314 204 000 449 000 262 094 000
345 349 000
468 583 000 || 231 359 000
834000 | 000 276 009 |
taxation
R 28 941 000
30536 30536 000 30 540 000 32 728 000 36 224 000 38 692 000 40 970 000 45379 45379 000 57 954 000
460
Equity sharet
cenis
22,7 23,8 23.5
25.2
27.9 29.8 31.5
34.9 44.6
7.4
Dividend
sharet cents
13 13 13 14 16
dividend
R
16 555 000 16 648 000 16 824 000 18 175 000
20 771 000
16
771000 771000
17
22 069 000
19
24 674 000
24
31176000 31176000 31176000 5
29
38 190 000
to 1965 1973 Includes unlisted investmentast book valse and
interest
value
outside shareholders
in of markme arkt et of listliestd ed investments
_
.
:
1974
Includes urfisted investments investments at directors
ae
vakut oveir o boonk valese
valsation and outside shareholders imzorest in starplus of market value and directors
subdforishvareisubdisvisionisubdio vision no 13th June 196 of9 R.1 shares into ten cem shares forpeposes of evenparisons
Structing of the Group 62 Interestcof Interestcof the Cream 65
Mining finance and investin~ tuinvestin~ tu4,5
Gold and uranium To
Diamond minuung and pading 74 Copper and otlier mining To
Gul 78
Industrial cozimercial cozimercial and financial financial St Progym Progym 85
H
Other St
CONSOLIDATED
_
Market value of
553-000
7
ag
ZAMBIA COPPER
INVESTMENTS
Market value of
;
iE:
;,/ AU5. 992S 73 . 000
a
nee
ae
ti
ue
ANGLO
ANGLO AMERICAN
CORPORATION OF CANADA
ee
interest Be
2 CSS B3JQWV
ae
- CORPORATION
_ RHODESIA
.
3thod
We
interest
27 BO
; .
Anglo American Corporation is head of a group that comprises a
Lirge number of companies which the Corporation administers i al Shich in most cases are not subsidianes the
statutory seine Ros^'companies fall into two main categories ilie finance and investment companies through which the majority of the
ton's investerents is held and the mining industrial anCdorpotohrear-
associations operating companies The Corporation also has substantial invest
ments in number of companies which which it does not administer tire
hard intjottant of these hoklings being in De Beers and Charter
with which the Corporation has close finks derived from
of many years standing
;
Cporation The structure of the Anglo American
Group is out-
lined the chat which shows the significant shareholding
relationships 13ween the Corporation and the principal Group
Companies and bow the Group's interests in De Beets and Chanter
^refield The more
important holdings of these two companies in
the Anglo American Corporation Group are also slunya
The brief descriptions of the comp^^/nietshat follow indicate their
principal principal interests activities the market valuations in the chant ate 31st December 1974. Names of companies outside the Angl American Corporation Group are printed in italics
a
Assurance and S.A. Tensorsdrijos Tensorsdrijos are sulnadiaries Also has
interests in Carlton Centre High ck Steel
signifixant
|
Other interests indude
Sorov Vaal Rects and Westen Deep Levek
Amkan
Australlin Anglo
American
chaty
chaty Be
Beeos and JCL Analysis of genzzal imestment imestment portidio by
commodity value 30th September 1974 was
commodity and
2 platinum ceal 2
percent ; pold 18 diamondsdiamonds COMET
other maining 32 inkos^rial41 properts 20 fipane .
ANGIO AMERICAN INVESTMENT TRUST
i
cMompaanijesorcompsanuireseholdings in De Boors Comelitated M^loand diamond trading
GOLD ANGLO AMERICAS
INVESTMENT INVESTMENT COMPANY
stantial boldings in gold and uranium mines in the
vaal and Orange Free State
western Tisin
incluae State Geduld Gold Fiel^
Ma or^finterestsincluae
Fas Pritomne Five
of South Africa President Brand Presiden Presiden
St. Helona Vaul Reefs Wee Driffentcar Western
Meyn
Westen
Holdings
Will
participate in
new
Deep Level Welkom ani
Findstand and P ted
gold mines
vie
: .
ANGLO AMERICAN INDUSTRIAL CORPORATION
Industrial finance and investment Scaw Metals Boon International and
owned S.A. Forest Imnestiems Imnestiems are wholly subsidiatios and Freight Seiko
Holdings and Brunnzeel Plissons are solsdiariesHoldings in De
7
Bam
tekasted Corporezive talische has 3 40 pet cent interest in AF^'ch
, veld Steel HA Maslanke Bar
High to Bar Mondi Paper Natal Tamming Extract
IMI BON~ MES BON~ MES Prior Marfarsd Marfarsd Vereeniging Refractories
THE VEKEE IGING ESTATES .
.
Refractories Refractories Transysal in Itade Amalgama- Oums properties and mineral and del nights in the Transysal
and has substantial interests in coal
and O.ES.
mining Sudnvidiaries
ted Collieries Compration SA Gul Estates and Vryheid Vryheid Cotonston Indus-
sufr~ dian trial interests indade indade Vereeniging
fa
ANGLO AMERICAN PROPERTIES
iz
a
,
developmem a Substantial interests in city centre office and shopping compl^vesin mon
majer cenites of South Africa tomshije and a marina reslemiaapen
ments and land for future Carlton
developmem Holds substantial Share olinign
Cente
Share oling
CONSKEORS LCOINDSOALTIDEADTED MINIS
4
^divities manutscture marketing Pravijoi
^divities and interets of the Pc Bees gieng ate the mining
mamural danzoends the
mining of
manutscture of sambetic dunsonds me
o
buradals prodised by the group and by other producers and portfolio
OSTLICHEN Britside the distraond industry These investments and INT
diten ^/setswere valued at R676 million at the end 1974 alter providing
loans and investment
allowing allowing for minority interests
:
x
HASIERAONSORDATED HASIERAONSORDATED HASIERAONSORDATED
and investica investica finance and investica Distribution of uncimeras
diamonds March 1974 was Mining finance 496
Ger vendon 70 gold E
other untals 172. 172. tin and wildfiami 2.0 industrial commercial^/oggler
14 Longterm Longterm ksins
Govgraphical drunibution cent South
:
At Alika S2 Noth Anserica 13.2 United Kina iPAN
AIL , dsendre dsendre 5
:
KANDE SELECHON CORPORATION CORPORATION
biance biance and
interests in Guap Kas Arandas
omging EsArausnddatsjyes itself Ark TESS
mestment with with interests mam Guap
Corporation Corporation Corporation
itself Ampok
companies in Italing
Ananini Misoico and
Schlesinger Insurance and Institutional Holdings and
oni
imvned subs^/diariesand Atikan Eade tite
|
india^ e Anglo Amerikan R~ undesia approximately 45 Enacherd Corporatio MINERALS AND RESOURCES CORPORATION
Holk 49,98 cent of ZCL
approximately 30.6 percent Enacherd Enacherd MoseTAN
2 Choska degunami's common stock and post inex per cent of Fo Fo
Exploration Oiker substantial interests india^ e
Australian
Amerikan ConpratM ConpratM ConpratM
env^>oyl
w~ ally env^>oyl
Anglo Anietkan Zamongis Industrial Corporatio ; :
Corporatio
.
sidiary :
signifkan ZAMBIA COPPER INVESTMENIS
Zambian
-
Substantial investmoms investmoms in the
industry
Zambian dryper mining industry
49 per cent and 12.25
cent
though its
Minsey and Roun
per
shareholding in Notarga Kenchstand Copper
Conobloch
interest in KewanaCEoNnTobElmobcehd Mazes repodives Abo bodds signifkan signifkan
a
American Corporation ANGIO AMERICAN CORPORATION OF CANADA
Holds Canadian assets of Angio
a
;
Peams
Peamsan Fastter y
Siu. Has salsstantial holding in Euzun Kop Many pri Modrazy ,
ANGLO AMERICAN CORPORATION RHODESIA
:
Corporation
Holds Risaksian interests et Angle American Corporation and Kante
groups in finance and inveVISTI inveVISTI
CORUJA^nsesstock tettos Inome and
tet os allied engineering industries cims and botestiu estgies waland
prospecting make fifines and industrial prospecting and
make
pro wiIK VOISOCHIS VOISOCHIS
AUSTRALIAN ANGLO AM^ RICAN
Frog Gorporation Formal in 1971 In the Angles American American Gorporation GorporationGorporation 74 Frog and Sete
grejs to continue an extensive extensive explotation programme
gjai take Ahani
14 best
Ahani
business opportunties Australian indian in the
mining
Mangkan
Mangkan interest in and manages Blue Spec mine in Western Australa
FRIIS BO etesast
TE ot
ear re eccar on tie P
I commessionecodmesioned its isove anomoni- of 19974 Segared
2000 quiser to use coal the feedstock the
.
Mining finance and investment
Interests of the Group ,
Group The Anglo American Corporation of has direct range financial mining industrial
and indirect interests in a vide
the more important interests of the property and other companies Particulars of
Group are given belony both those administered
within ar outside the Group
Administered within the
Angle American Corporation Group
At 31st December 1974 Ann
BTC.ABTkC.Ak ass
pena
qual investmenIS investmenIS
Fo was ST wate
Anglo American Corporation
Sotswana Limited
LOS
u
The vegum MBOI1 bdk the interests of the
Amran Ciepoention Mining and Anch Amran Ciepoention
Giroup and vertzin other
Bodenpinies Bodenpinies Bodenpinies in Hoewera Hoewera
Tonal AMBOT has an indiet imated vi
zpemimately i^jut cert in feman~-KST Lingea which Kamiungnsas turn br^^ s 55 per cent of the nquit of Kamungsas Gin-
cossiotas Limited which has devchyn^>a nikel unpper
od Schielame in Besar Presinctiven od
male nuite warmerved in tchewan 1974
86 Rhodesian Morupue AMBO _2 fav za
jxz cem test in
Juban sheperfast limited which has estilobed a
oud mne ne^/tKala nein
and which which came
Botsuania Botsuania Plasdovian sae [tEne d Sn ate ep Rigarh -1973 -1973
Bar
Franna Devebymeti reparation limited Hula Hay
Senecking Go L^>nuza Hytten Mineral limeed
ad Vota Why
35.82 33
Mines Limfod Whisense ^...rperMines Limited
Sqeae 20063
we " Swoed
Anglo American Corporation Rhodesia Limited
The omzuma in undation nuh certain the
Rhodesia Groszy companies farid the
Eterests
of
the Anglo Amerkin Anglo
Go^pez ivand
Chanter
Grow fadatel prvops and
has a
w^
diversi
^c~disversi
fofl poeti~ ano4
fursaal investments which
Mining Doverdoezeer Doverdoezeer Gold
Gengum Limka La Dickezein Gold Mining Gagury Limited
Elsburg Gold Mining Grempuan
Free State Gold Mines Limited
Hammery Gold Mining vengam
Tinked
Hartelexsi^/ezeinG^ddMining
Coengum Limited
-
Kinross Mines Inte
Kkod Gold Mining Gayum
Iskarsver
Iskarsver Gold Mining Gempar Gempar
Yeo es
AKC
Mate cogs
TS
obi
1351 QU 2112683
** 2121..112 2
737AV
173
13730 13730 102 ee
15.52 1057
2413 467
Tek
Fimitea Most End provide Janet Janet not AMBO Sentochrome Sentochrome Prname Lemezed Be
Rigarh Gengum droprietary Limited
^d^zeovd
Fan Botsalarie
isere velar fuilling in Galatone
engineering engineering industries sakubmurislalkiubnugr Anglo American Corporatieen of
Helena Mines Canada Limited
DEVA L^nkant in salsantial f/ Lineal Mining DEVA
L^nkant suas oszaltoshot a 1966 Ban
provide dends
after
indiale micid micid the ma
ajun
it
is
moene
bi
un
edi edi
Its maje imeuntas indiale
qul
and
mining na vet
and aloe
citrus sugar jametal
Seevi and iimilar processing cement thus
todling stai bux portem mendunt funking and in tinuume In addte ^ fans
Gold Mines
Presiden^Brand Geld Miran Gorjem Intuited
Presidenz Steve Gold Mining
Gayum Lima
St.
Gold
Fanted
fares
Poa or
=
fot 15207
ISKRAV 20131
... ...... ...
......204...6 2046 ... Nuv
...
participation participation in the Gopurativer's peingxxting pro
ammar Rhvadesia
\
Salbenein Gold
GennyGennysskani kani
IMAXXE
FARE
ani Gostite the full 4 the Canalian zuets of the
Year ended 30th June 1978
A Vail Reefs Explorataves
durevn^' Charter Artataan Gepett^/inDe Beets and
kowitzol grejs Thee itxiade both diet and
mitat
soundRTAS valoent Mining Goreng p^/ter vanda
soundRTAS I uppet sim cadmium cadmium prfld shemaal unde od and natural
= Tezza prospecting operatives join proshutan proshutan and prospecting
operatives
Driehoerein Band Band 31st Doven~ 1e971
iman^veprat szak STOJO85-450 STOJO85-450
STOJO85-450 ef ree part sdaw aeerodime of
dum in 99479 5
0 bie eds cba
a
Beqm431 Ins B viates
buses and Beqm431 | 8 hazBee re copeuie tendetabiendfi$259 net gues
Po amounts expreval Investments
c
Immizol Ewan
INTE
SEMINANNE SEMINANNE SSE awn aban
Fars =
S ee
165 wer av aes
Side WAAL Fie0? Tac
Issand capital 7,95 651,50 651,50 durevn^'S^'centseach Incalanqusty Incalanqusty capital reserves 55 35^ny
Market valoent Intel
>
Beware
Es vabaned intod
S55
1978
eu
1971 535 W
KTV CVETAT^ S
Book V^aucnintel
51:22:09 1328AL 1328AL
PRI~ APRI~ A
PRI~ ALIGI LAH~ DET
SISTIVE SISTIVE Stettav
>
SS teeta 52989 52989
All
a
in Rhsdev^/zncurren yal
:
Anglo American Gold Investment
*
Company Limited
Minang Coenpuum limited
Verzetsgant Gold Mining Crengum
Timzel
Wellsen Godal
.
West Driehoerein
Gold Mining
Creguer Ionzed
Weston Areas Gold Mining
Coenpum Emend
Western Deep Levels Limnand
Western Holdings Limited
Winkelfast Mines Limm Limm Zandgur~-G^^Mdining Geng
Immizol
374391 374391
44
233741 23741 233741
2AVU
1062 Sha Seed Seat
1780
171824
171824
.
In35 In35
:
kaw
1918
1820
eS 13_28 13_28 Naas
13
1320
1320 1320
Financial Financial Pizzaslat values s Indintial TORE. 2 Peed. a thar
RES ENT AAAE SBony SBony
jo and uranium qvezvedave Izmed 487 exploits vadon NH state
ee, Sess wee
Syret
An anesment company with major share~ soddajovin
South African
mining vGJURIS
3st Deveriet 1971 ;
^ ngsAmtata
IN B
at dee
Ss Year ended MisGolud Mnisugng Cecipes Cecipes STIS TSHAW 37 T ATT WE
revenofadated of Timsed as sute and 2139-1895 2139-1895 Ime "
per
sute
333 ...
... ... ... ... ...
... OST ee dimetmenis vaki^ Souzin zal **** **** be Laus
we
ae
>
So oerawe
oF uwes
Reh wet Sent eer
v^/lzeit Nizwer Nizwer Iv^nce
vi^ Wintersand * Sesaune feats
SE Sve eat
* Skate imoNEXTES Tos TR 92
:
15a7-84 15a7-84
getacsed rect
eos Me
Tete te comtedtal
ee
S
Se eth
wneas
Ber STORET bomen ney iH chika SPP ae
See Ut
st er Sas
:
CROCERd
Ivond capital 21952012 21952012 e~ kysShures El cach
Share capital
2139-18995
a
;
1973
Emre
M^rketvaki^
dimetmenis dimetmenis
Koi v^/lzeitlista
211 5670V Szes 87 AV
Besi Besi Besi vakar
ROS
|
Pe ean ex
uninted imoNEXTES
Crowdidko net proda Earnings pot vedinan share
Disscendswordinary Ataquant guid Per share
RWS uae ROOM
BRAY Ret ae!
Rota
fmt ore
348M 24x
2 Se 1
Seth Ala
W
Sentrust Betw . |
Holdings Limand
Wetentbrakeplac Wetntbrakeplac Wetentbrakeplac Wetentbrakeplac Wetentbrakeplac Fasted ,
Wintersand
Dogs Fimuini Fimui ni
333
376122 ayaa
376122 SSR RAE 4'43 4'43
Properts
toba Comte lamted - vedinary shutzes
perdem Rully pas^'test
Melon soerart she Bertcton Pe ey,
WhaS
,
RE wt
Pringeting
tage
Crore ar
VEaH Soy
,,
LES
Par
SH91625 SH91625
Sint
SCTE ee
ast
SS
RD
519721935
SS eV?
aN
W pereanets sprenvaad sprenvaad in Canadian cutters cutters
SE MTEL OM NTE A os
eee RUE de ts
eas
ST RE rere 5
one is shark of the pier
-
The verdanal durcholings Andh Sgners G^r^...l
ar~- Investment Gengum Himstad 19
121 c nadun
com un Orange Five Suite bestment Inn innitad as
Ms Devender 1974 metr
FOr need
a NS
Gold prodisang Het Het Gedi Montg ^ mumsLimited
ooae
Born Born GadiGadi Maasme
taqum Info
Pris The
Australian AnyeArretaukti
Sean besigPIRINA~ besigPIRINA~
Fam a Aes e eee ns Miter 2 icerseat
Ang Amet Bondade L <<< LRR~~ ^
Bondade Bondade
:
Kasten Inonims fo
WIN
fern tact
SO Pegi tase
tither A
~
Adenhezet Adenhezet Adenhezet Adenhezet Secg en
edanethntr Teestad
To
feae
.
inter Seve
Pat.
Zarit ane
:
Mogae
P
eeeetr1e
' 4
So
year
we
Fore
Wott
Angalia
Ae Such Wak Qaibland Sezn Woven Amaralia Tasmania V^/hein
sii 1ksaan capital Six per sert tepicted bus
350358X8 350358X8 350358X8
sii
Jeannette Jean et e Gold Mines Limited
The Afrikander Heizwe Limited
al "Nese
waste
pat
9p abet 25.318
3624197 3624197 The
Anal Art Art lover Copony Copony toward has
20 per von smorest on the gatimes gatimes gatimes gatimes gatimes .
Azals Immikan corporation corporation do Brzis^zncinada
Pap^Nen Gr^neaand Fig
.
Arendal ArendalArendal Seth June 19741974 Pound Czpital Astsanw shurevad
Scheer
:
each
Minerals Resources Corporation Limited newark Zonder Angie Avances Lisote u
Investme^ N Investme^ N
9-197 9-197 NOT NOT
musket vakar
Other investments investments
huvi une
1973
\
long
She Tis 55563 55563
see tie A Ge
JOKION JOKION Sow iter
less Anglo American tis s^"keting s^"keting the in Investiment etl Trust Limited
Jug ZambunsAnda American was tozund tozund in
Smarket takar Untested
SST T e $
orxada in June 1970
acquisitives by the
Zambian Genetriment v31 per vent interest the
riften Tium
557 598XT
.
53.255k 53.255k OD
a
Appermine Appermine in Zambit kew Advents kriften od An imestment cenjum with shareholdings in De
undetzling
of the Angle
kriften
355 leadV
SS
Gie^vention Selection Selection nm
Bees Comodidaerad Man's Man's limited and certain dizerend 2) American
Gie^ventionGie^ ventionand Roan
Its puga
TT
:
.
K Investments Investments ir m^/diar 3
spectal joeveral trading wenpanies
a
At a
meeting of members held on
AOCHTARILLOS Dovezmedi^nai
SALNO 5th Augant 1974 the name of the company 1,2
'
Year ended 31st December 1974
m
Adeomansdares
SALNO SALNO
changed
to Minerals and Reveries Gepvezties
changed | Seafitri Issand capital Rlowvave in 100vay vedinny
Limited Minoant to moved more doch with the
shares of Se urais gach and 2 six s"<Upet teTES
diversified name of the wapumy's activities resulting
. Sen
cummalative preference Susies K2 cada
Nure capul and reserves 236917,00 236917,00
.
fiven persunah for the expum^onand developeaa of
the commp"myAs part of the diverasnid fdiversifica-idicversaifi-ca-
Goessodalized proba Ixter eased
IN Teta
Scguired Market value of listed
1 07
:
;
1973
Fine Mirocco
from 11.D. Development limited
HDD
enzite isonal capital of its wholly owned
thuka ALEKO Grza ^dateprod^
SHSAY
.
Evi the 12251 12251 224NH RA 7
ZEMANY
sa v^d^Pnryairie Investments Limited the
after t
529651m (ste tet
of peinapul i Evi vakse listed
-wxts t^/h210 109,5 per cent of
stock
Dividende Dividende
e
:
LTVENITATIS betted the comtriver LTVENITATIS
KSI Arles
and NAT Sor cent the po
s^ndin
Amxon puid
IKEA *
of Engelband corm Bovakar uplevel
mo
Mineral and Chm^/ckManjindan EMC As websi-
Per share
TO
Foo
de Mizanurzlotted imenzand imenzand 2742 FP TATA
desations for spravspiratviitoionn Mizanurzlotted
19 0648
All amounts ate expressed in United Stat
tundukkani \\\ value per
new A ordin^tystumes to HPO tunduktukndaukn kai ni In
Nefant v~ dinanslate
RIZAS RIZAS
EIS, 0
those A shutes to its aman shareholders Anglo
termos at the ornamente ngand^ ngand^ t^shes Higr^f Higr^f Higr^f Higr^f
Ameri- LEVITET Zand Peta akeT
Lin Computat Cure Combed limited and
aver Arron bro SU RESL Soak meee
prefiereta disidend disidend ARNEAU ARNEAU 22
15ml
avecitos [ was
52 Angina 1974 and ordona'y the bord ghe
15ml Earnings Earnings per ordistani
.
thereupon dissolved In terres of
MICETTATES the dividend dividend distributve in
news A
EPSICHOZI SES so MeeS98 Boe pout mows
Sure the 41 1^ ri^ mh
ee.
vedinny shares is limited in
of the
samo u
1^ ri^ tidy nad
DI
ve
respect
two years
2 BPS1,5 k
Divadends Divadends tOQLARININ y
Ameza puil
RIVawamayay
ending Beth Jeite 1976 to the inuoe mined by
TT ae
Minveut on the investment in EMC Thereafter these
Pet share
MAX
Sav
shares will ran~ puri pusszi`with pusszi`with
New Rhodesia
Limited
the vedinury Minores Investments the eng's Nis 21 eng's oaned oaned Ke Werte dbs,
31
Dumber
1974
Minorco has thus
His coenzzarry is a which
.
Rhodes~ msadum
USSI Pa
auquired 22 a cost of USSI
of Anglo American Corporation and in turn cars the
Asg^r Movie
t-
millivet an effeine intero od 5evinch 43 per ven in Irend Exploration limital a United States
em ite ^vardcapitak of six offer companies Amerman Gezvez^nServices Limited
Amerman Amerman .
kit mas
Ang Aman
|
soenguany which Alen^rtantAlen^rtant Sales Fimm -
has a member of pendixing od nells C^nRhodes^znServicest limited Appraised
tes
Mous A dura
NV 1210
in North AKA BUTEOs others on a production-
Limited Blue Skies Pine Titel Gas~ i
shaung b ^"isn is the Anghe American Industrial
Indonesia and
sticly involved
Mines Holdings kldesia limted and Urlop Invest
the wohl Za listizal-
in explorati^ mother pun of
.
During the
ments Limited The group holds a
in the
as participutan participutan vedinary shares
es lk CAR
seu ended tab June 1971. Trend Expirateti edited . nickel mines Bindaca Madzina and
Cepillared Cepillared stungum and De Beers
Mines
US 99558ff973 99558ff973 51 eet AV
2
en n^dgivet bus interests in mum the Sh^ MIS
wornfaded Immited - deferred duty
LO
As have been
for Miravetes to
and South Alicancompanies boch listed
and satin ac Ie The Diarives Purdunungand Purdunungand Purdunungand
zauzme the
internal imestierives und
Trading GenquamGenquam a frontics frontics
The
.
The Dumved Trading
Arenguen limited
Initial DecDecr ret e NIt A
trated
.
~ emcehicasey Gute
faritent faritent faritent uirinalative
BASIC reuties pretoremie
SENT Tr2aaee BRENT
167X
oi
N
SENG
Sitvites Sitivities Americast panpating panpating
Sitivities of the Ando Americast Composts
Het a) aster d^ditedgroups in these areas
|
Itamar im th"nepregna ve~ m^dka not undal is exisame regional officys of
Itamar Itamar
estments et Minecis and its
Time 1974 nevat nevat seth
nac
:
*
.
*
Firmined Zambia Copper investments Firmined
Zamundio Indisstrial Cepuratives limited
599K
ts :
Rand Selection Corporation Limited
A financial and imetment creamy nich entend
in financial polit diamond opper and other buse
mezaki coal p^zzimuminsenance funking industr
and property CORNJANOS
interests into the During the year Rand Selitier's
skikb
are predominarily mining and mining tirumaine tirumaine tirumaine
diversiland
truncul services field through the
Juris IndustriIndaustrlial Gra > ordem
TA te
vvufzucht krydds izdevitol agricultural
,
IMVOSTLACES IMVOSTLACES 15173439
;
15173439 :
hue
i; gundam of Shiomae Insurance and
inInd^...umzezraides H^,ddings #silk The suguisition was
Induzzad
in ^...meries
etaarmecred ordem a
SRW 13.55
Zamunde Mustralia Prograciary T^m^o -
sl^/hb4~sal^/hb4~aper cem infered in
< bamos de a Schin^of Air^mpementterms whal
Le e 511 vedinan durchodders exchanged then shakes b
A>stralianAnglo American Limited
the semrpurnn
LtnSoret sts EMTS anges
e~ zmtz < Asis pa lia M
justaslack justaslack meszans uppstarts
the
papne e~ wyking
in mining and
wave Angla cape in the wave wave mineral algunes
Neractaata Anger
oa8 us enue. Gestuza Gestuza Sic
American Australian And^oAmerican Limited
a
AHonmgilnioeAsnHiakineg rHiickainngCoLripmoirtateidves- Rhodessa Lizasod Lizasod
nudisti nudisti nudisti laiks the interest in Fiend
Ue we
Paptetastovcre |
PINSAN
PINSAN
** Plaskowy Plaskowy Plaskowy sky charged as
to Mazmus
;
Peyrysy law
hilly paid Rand Selection shutes in the z vvsex
Share in the coepvcation for every mine shres beds an
SIL As a result SIL which
subotnjul sferosas
Fdeavelorpemsent the lie imutane developdeevmeloepenmentt and fun~
whithinned whithinned bel bevim a
som^/duan se
Selection Selection sinh diet from 1st April 1974 oyant
to this date further interess nete sugaised a vo
sinful Gestuza ********* ********* ********* e the
Pemmtas IS guy Wert
sinful k^tetGestuza
and Mak and Kawin
gezel Re gw eey
gezel gezel be th tube ot Papiewucie: se se hind us
Year ended ith June 197 Issand capital capital BDS 356
RENEW kh *
435 0 27 4e65 4e65 2004 Suites
Share kapstal and reservistomsdalzadi reservistomsdalzadi reservistomsdalzadi reservistomsdalzadi S ostaMV staMV
avengardes wahin the SII presp This reviled in the Rand Selectin gi^"phaving investmen of eo September 1974 which included interests coo Imurane infray hueach ^ 25 per cent interest Mikan Lage The Avazane Sunny Perec:
66
%.
progam ani porteils developmenz sthrough a 47 pc interest in sta Limiatt in lunking therech
In effered if 6"per vem ^fia Western Bank Limited
29 per cent inferoi in Me akand Minerals In-
Ovetmen Gevesti^n Lented an imesamem insa jeremyum with interests ir minerals and metal pentag ft In alla Premier Finance Corporation Fropei Limited a finance company and lowns-
Estates Proprietary Limited which manages the gregem interests of the SII prep by providing providing ledai-
managerial and administrative services Loch
Bmeshly Bmeshly Bmeshly onsried sedm^diaries
ended 30th September 1974 Bound upaal R20 50 5 shares of 50 cents
ch
Share capital and reserves tevensolidated
52319 38U
. Investments
Investments Investments cat look valbei valbei
1973
1971
Geractal trad ot inet
AUVIGNED
-Iza -Iza
ise oa
R XO E176 856 AV
S
2784319AUM~ AN 2784319AUM~ AN 2784319AUM~ AN2784319AUM~ AN KOM
R763
371 AV
232 AQV AQV
Hazing
Party other incuding incuding sebs^fuzzy sebs^fuzzc y omp It was~ idrod was~ idrod
R 359 R13 827 AV
<
_
242WAV 242WAV
AO R17 12
R623 WV 269 3
2947 annet v^bne
OeBe vt aad
Baselitzzed prett
Dec RR
Baixaraven Baixaraven and deserted
Laxatives
vezi ~ idnepflro~ ia
after taxation and ^ n ^ akova n akova v^minority minority
Stress Stress
armings armings per shate
R 0039
221.51 221.51
AV Fle seh aA
2756000 2756000
SST
RAV RAV Bec
ENABAV Fel
R20V R20V TON
RIT NT Rate 52 va
At akos of sex of ideas on v^ NAZZYCOWG unds one hii Awwils ies of Anansine
eacanee Bont mus a the shares in ChansNY
in mesolatband Lirazed held by Rinker Rinker ^'talingsIsented
Skandar las re^ TKNO^ 597
sa~ sifierysa~ sifiery congronin the bears pommi moments were bakk^dun
we hater
vi dan pusties prowe nowe
sz^'viziby ioe pusties of wifi wifi adapuntaovi adapuntaoviadapuntaovi
the wa
capital on 1974 koth Sezvember
:
a
jytarziavenvertible jytarziavenvertible jytarziavenvertible loan 1956
RIS 2600
PUMAYAutel PUMAYAutel tepistered
2a
4587
RIDAVAU
Mt
970
RITAS RITAS AV
At 5th September 1974 the pedal imvesments the engum und stv szidnaduzz'essere szidnaduzz'essere szidnaduzz'essere spread as follows
foced
trans
tats =
58.55 Iss
81 3,37
sas
at
53.90 10.51
jan
4.33
_
Sead
Kn
Yee) we
taxes taxes
f ttcowtsars
General tin
124
Industrial and commercicaom elrcial Property Banking
Seminy
35
^
wes
US
3 3
1325 1221 QR
bea
Southvaal Eoklings Limited
Year ends 31st Devern er1974
Istased capital 213 WWWWWW in shares of 83 cents endesnds
Vaal Reets Exploration and Mining Company limited
mines an icawoth of the Vaal River in term.it an
arrangement Holdings under which which Southvaal
Limited
is to be puia rovaityequal to 55 per cent of the pent
10QNO
IALX
card before tax in any timordial year Zhet afgeo-
in February 1975 Bandas Naval Bank Limited
made an oder to auquite the entire shuure capizzi of
scheme Wesen Bank Limited by stay of
men Rand Selection has undertaken
of antanzpe to acce this
v~ erin respect respect of its seasnean shutcladdings
apriesto meet capital eyend^ emuted by
Vaai Reefs within that area ^finthat year and abo afte
ping for imetest and kun repayments due to
Souilnaal Holdings The fina regally puyms of
SIPOV Vas incial
SIPOV frumul by 1974 frumul year
the cuenzum during the
Rhodesian Nickel Corporation Limited
The com umones the entire share capitals od Frogan Nickel Mine limited Madina Mines Finanted and Bandura Setting and Refining Com ury tissited
oryxT The saddizies mine and tetive mild and
in the Biradara Shanna district of Klancis Klancis
Pro~ abefore taxtiva
Jauzion
Profil aftet LIG
Desideras
Amoniju Amoniju
shuze
-.
1974
83425AV 83425AV 83425AV
Rishi R2065
R234ORV R234ORV x
1473 Fre aay 271AV 219289
_ ~
Yea ealed 31st March 1974
Isuni captal 120way 120way in ordinary shutes of
vents each
T
Pro~ iaafter tavation
1973
a
523760X
1973 Stav SISAV
:
Di.ikak Di.ikak
pui Artoszre
P sieve
ST esheh unr v.
STAR &
All amvumsexpressed in Rhodesian currency
South African Townships Mining and Finance Corporation Limital
A finance investment and pugem holdinguazumi holdinguazumi
Year ended With Septembe 1971 sand capital Zisvav Zisvav in shares of RI cach 219
per sem held by Rand Salon Salon tiory computation computation limited
at 30th September 1974
Shute capital and reserves reserves tovero^dateRd17 3118000 3118000
1974
INTH
Market valu of kostel
imestiment imestiment
Possi of vakne liste
intments intments
:
> Hosk value undated
Rie OeTcuny Fash sys
OSTAV
:
Te eT Ke
investment
R13128
Set asset value per share
82032
Gezdidzzed Gezdidzzed profit before
Cautava Cuervl^dated
RENNA os RITHAV RITHAV
Cuervl^datedpeo~ itafter
tution and devizatimet devizatimet nd
minority interests
Farmings per share
Reeotem wre
viderin
Amount pu^/d
Reena
Per share
shi
OEP MAY 2112
EVEL ay RoI Vat
:
Fiera on Fe
:
FETA sy
At 10th September 1974 the of investments the con
were spread -pums andits sadssidiaries
as folkman
Intel Printe
Pe 170-
Diamonds
mucing Investmentgidi
Gold names
Bas^metah p^stinturn p^stinturnanal and
other ing
Industrial
Progwity and Luming
-
3.105 3.105 Sera
3.105
25.55
31,72
:
Sek
3.33 0 lS enw
155
123
1749 rege
The Vereeniging Estates Limited
e
The vegum suums pagymy mineral and soul rights
in the districts Vereeniscing Hamwaaanid Hei^ ton
Orange Free Site Pinpense is demed frien sta^ ntan
til nestments 2 member of cal mining cen punies of h^/chseven are operating sudn^d^rtiesfrom
weiteilig interest in Vereniging Refractories limited and from real estate development Seeth African Gul Estates Witbanka Limuzel PACEMA PACEMA PACEMA
selm^dian coCTEJAZZTE BO~ omsingthe auquisition In
SACE at the entire issual share capital of Springwi
Colliery Limited Springisda which was pectinusk itself a siln^dionof Vereeniging laus SACFaoquio SACFaoquio
Springvi la moim od a shite culurge of vor no
SACE share be even Set units o^ steci bold m
SACE
;
Dovermbier Year ended 312
15TI
ssex 45yi a RESAHANIN RESAHANIN QALEREsad QALEREsad QALEREsad R2 cach
Cap^-aland reserves fentro daditesh RVT OVO
1971
1977
fisoft fisoft gwith
whe
Rot Sawer Rie feeguye
Net pc en oct uspainitives uspainitives uspainitives <
Market + Market valuoef Inted
KITA ENDING TY Kavi vaktacvakttact listed Pod Pod Pod Pod unlisted
KONT KONT
Net asset valu^pet zame
-
adstead
REGIE aay,
"
ITT eva
R
TS ... beSaveY
8
PME ESANA
PE ent
KS 6120 6120 6120 RAISI
ST bree tve
Rate
alot poets By fete
Crtpet
Lisa Lisa
Pawo
Proti ve vulnation of
Kaswiwoner SET Rae?
z
***** ***** HF PST
:
wo
LEIL ENTITLE PITA
RITIWAL
-
Corned adicert pred.t
Lakes Lavatares arad
Pano
Jeshta Laver - RETAZINCADA
Sree TS ETRE NES
Lanos gen ded ded
BesTT eget
Fe Gea
5241
21
ist,
Daskma Daskma
7
Artec gaat
KE deb asad
Muniz Muniz etyki etyki
H1
Not oat ce sone et tae Te Le SE
ran
HVAT
The principal imestments it the wagumy a ilu
I 19Tineren So~19Tineren Sio~oin onaa
Curit
.
Mazzanted toberiesof Sorah Alta Limited an
ses silmadim . Sorinelicid Gollieries Limite
:
Proprietza Anglo Bavet taglieries
Biskui Gallery Limitad
t Limite
Morapu^oGolfier altspeitziv
Sak Mizan Gul Bure Wilbania T^>mte~ tand its szafamdians Speindv^Gilliers Limited~
.
Vnheil The Chevetiver Collienses Limitet und in vuln^kur
Vnheil
Cheemalinen Linated
.
Indenserial
Vereeniging Retractories Retractories Linuto |
Finance
Cepam Anglo American Industrial Gorporative Limia
VE.Explicamon VE.Explicamon and Fizance
Limi^-o
TSI CLOT Mix
Zambia Limited
Copper Investments : The wagumas wagumas kemed in Bermaada in
November 1949. 1970 the waywny auquited 49 pa set it
the equin of Shunga Gomolidnal Copper Miras ~ - Limitas NCCM and PN per cent of the equity AT
Rain Coenodadzte Mines Limited RCM The oven-
rum has an induet inzer^tvia Kalibari imesaments
Immited of approximately 12 per vent ^finBooshan REI
Limited as
zv interests in a number of
ne i prospecting prospecting Mn UITpacs
Africar Gold and Pase Metal Holdings Limited
African Loans and Investments Limited Amtha Investments Private Limited
Anglo American Corporation do Brasil Limitada Anglo American Corporation of South Africa Portugal S.A.R.L.
Angloswazi Investments Limited
Anglux Limited S.A.
Anse lHoldings Proprietary Limited
Appraised Securities Limited Blue Skies Private Limited .
Consolidated Mines Holdings Rhodesia
Limited
Kalahari Investments Limited
New Central Witwaters Areas Limited
Overseas and R odesianInvestment Company
Limited
.
Rhochar Holdings Limited
South African Mines Selection Limited St Andrews Securities Limited
Thaton Limited
The New Era Consolidated Limited a
Western Ultra Deep Levels Limited
The Zanduan stated
the
Buchange Control authorities hnetes externalisnatieornns~
stated externalisations of imovere texeived
by the inequm in Zambia in respect of divalenk
divalenk dedareiz bn NCCM 253 M sushich contitme
tobe paid squarterly net od withholding taxi to
and Desober
Jobs of cash year resgatively Auvedindy the directors intend
dedue dedue to to dividerady vcar one so~ ivatingthe ex-
ternalisation of NCCM dniamh in July and
vocaber vocaber the estonalistinen estonalistinen RUM deridends in
of deridends ku~ er In August 1974 it was unsured t^>m
acumen principle had been reached between
acumen acumen in
the GenerROVN^ d the Republi ve Zambia Anglo American Gr^'pies-
fiver Certral African Limited and Imesi-
Zambia Gopper meurs iim^/edbee the lamination the stovent wa
peri^lumeluincy and metal axxnV Je
marketing marketing ment for SCCM The new asanaments were lobedlobed-
lobed- liom ist Aigana 1974 and tas
Sextive Sextive salmsogacmlvan-
that salmsogacmlvan- maid in kuder 1974 that sacement had been
reached fernees the panties on the
detailed detailed ments
the termination of these
anang
agreeTIKIZIA
for Year endal koth June 1978
Bby2414567,8 Issand capital Bby2414567,8
Bby2414567,8 Bby2414567,8 in 122 554
nan shurovit & BanzaINICON CAB CAB
&
see vodi-
Mure capil an rosenis 250971ww 250971ww 250971ww
Unload
~
Loans
14
mere
.
Unload a time
Tivat
...
Market vakne
Prete bx Qece tered
LAV nowt fee teen
LAV
11 Daaknk Busan
Daaknk Daaknk
Busan
Amsunt quad
Persbure Persbure
All annotants die expressed
171421 AAJ
7
54837209 54837209 54837209 26 2RUMAMI
Pa URSTs
Steinw Steinw SEEKER GOA
CMEY ULE AANE |
H in United States
Sete 7 er ae
SUNTAN SEF ra age Stee ae
oe caete dollars
Company African and European Investment
Limited
Administered outside the
Corporation
Anglo American Corporation Group
Botswana RST Limited
The waren of which the Anglo American Corpor^-
Bes^
Adds nearly 30 pet tem has an interest
250+ Crencess^oes 155 vent Crencess^Crencoess^eoessL^>mitadIBCL
congum condoting a nickel and sipper enining
spytation 14
spytation
x^/fifinem finem Betswana Ibetertaining Ibetertaining
per cent increst in BCL is held by
Ganvernment Ganvernment
the J <FI
Selts unabertakenunabertaken The
Pine propat being
14
planes first whicha fuas ia feen cirTUD^ CTAV~NEJS
the centrale 14 the mining and ancillary
facilities facilities projedy and a hlave the seselting and cockcoeckerirtimeicockteritimiecocmkeriteime facilities bet
the entire
the mining slut Selebi
sexual phase compting the development of Tthhee
underground mine at Selets expected to te om-
picted during is 197
' The high gak upp m^^mdatte
dani in
nas peo
Febrcan 1974 buz since then
technical preu~ iktas vtseruntered in the drainern
have Ainol the budd
et
pr^xes
up
skat~ ms The
skat~ ms -remod^ilmezuantes ate
necessary
cutremt^>v beung implemental
Charter Consolidated
Limited Chara | Grewiadkad Grewiadkad Kinaden matavesaffs industrial interests hus platinum
mite ickaten is United muting finance compum getting interwith increas in pi^dcopper diamondu pycndi and ither murals 11 aber
: .
Bried on the stock cutu^-orvalue of gated imestmentsand the directoes vakuatsoen
ments the overpam had
et usaquoted imeis imestamas
imestamas +6 1351 637
to total value
AM BEST March 1976 PCEBISMAN PCEBISMAN PCEBISMAN
The Leune is an
approximale po aptinal
analysis at thing investments vh^chtakes into
dated
vozzvaderative infetests and share poodle ma ot indeat
the inserts in
areas week
United Kingsdoen
Rest Lunge
North America Sreath Attic
Zambia
Rest Africa South & mat Asia
Sus rals a
18413 } ur
12352
559 185734
Weer 15 Ins
581 39 tah
os
Be ae 5a?
3
358 507
_
South Alika pensada~ $ per cent of the compunt's compunt's
imestnant imovine lod~ msla Zinda uch
venit and the United Kingdogra with 11 vers x
At the major putash mine ostalihad in the Unnat
szed Kingdom ba Cleveland Bush lindteil joint szed
by Chatter and pies and
Imperial Cheval
EintakEintak Inksp^s
haul perfectioci avermeme^
avermeme^ a Inaited wale'in therober 1973 onduttimana
s^>a
onduttimana
lublep
ondutimana lublep tes the pianmesi
anamal nate
pianmesi ;
632 The company hfll632 per cent of the
opali son
hfll Cape Takstries Limited the princ^>pul fumess
which coas a thao
n
maamulature maamulature
of badding m^
umutin prokady frictive mauteriak and bet
engineerine prsitats the distribution distribution of replacment
junts for the dutiestive industry and the
Niestan libee in South Africa
smugit
btucks the Sea Chate is participuting with vratiam of
Canadian and U.X. cagun^oin od cpiezvan cpiezvan
1130
btucks in the UK sector of
North Drif
of the last well was wenpleted in Augant 1971 StId St< Id
significant Inds were made Dalling vi sevad ud~jis
being crm^/leta
Odar imesiminus inchade 2 6,3 put a ne in Sahlin Sahlin and hotiram Ismet mbi mins
vodizam in Pvetoga through in- getting s^"~ madizzy In North America Chanter has 28a28a uz IGN in Anglo American Gotpyzation of tomada Timited a
minine financer avengam which has 30,75 parkem parkem
metext in Haden Bad M^...ting and sending de
Timmted which is en^am vogi An analyti analyti
pasdaction pasdaction
with interests and pas mal
de dreng Indning Inqiermentaven of the muds Se
the Cheratint^stof the investmentved investmentved an
investmentved Mental Mental Rensties Gapvention limital
Mintanas ZIEMENT^ in June 1974 Cune's indirect interest in Engli
Minerals &
Clamicals Corporijske Spins Spins ***** tc)
ness OM ordinary dates in Mineta Seth VMATO
Uma IMOSIEKTES Emduea to jeres jeres bibing in And
American Gorpvtative of South Africa finito
Auglis Amactacuri 10.1 per a interest in Uma
Amactacuri gtsty
and ali per cent holding in Auglis Amactacuri est
Amactacuriinvestment facts In Dmited the damseed investment Amenian companied companied the Angles Amenian ieptatie 6462
whicha has imp tests in De Busi dored Mines and the diamond rating on
In addition Cuna ^ san Unba Piztimuni Mining Gempar
11m prin prin
ing
per cent
infetest in Pins:
Patimera Mines ^>imutovi
:
In Z^/iteClutter pros^/desteclinual teclinual senast senast de
-songunies explicing we vippwz arah dekat pakke
dulles the sta a poaine Continmitees
Filin studies of ampvetan~-n Ermers
compa k
.
in the fenis fungunume atch live in~ astolate
in~ astolate
nocution teenes of hidijotak hidijotak vryer and intulivre Mois^'
sation extends over a cressa erabicarea and
studies have been completed wefirming the the
and cinema cinema viability of establishing a menta menta
mining operation sufyer to the satisiachers satisiachers UT
od finanking nocution
Through its 25 per
oop
cipation in Andal Amoun iejscem B oo
68
to Chinter has2 4,5 per cent interest in Boesman
the vagum vagum developing developitnhge Pikwe nickel
.
quer provat- and interests in Menupule Colliery s
Propanetton | Lammited
.
juz compum has interests in Trono~ iMines Limited
juz oms dral in dis awesized awesized orjunties Aver
nim his Dading Limited and The Sungei Bos~
Mans Mans
of
which operate tin mining men
in
Halasa Inc~ Mine in awaazasi sith other
is a wangunies the enchant in imesti-
me thefalls ofdeduart tin depseits on the
mas komi a^ ham and verjunetina verjunetina with SunC
badging up participating participating in the
A up tuis further tin mining areas in Prak
Are Riga
Chura lus 1325 per cent interest in
His Fat Brothers International Limited which his
, mig h^,stikpopsi trading and financial
Thailand inn^-oes in singavee Mil ysia
and Hong
Chater hus 25 per cent interest in Australim
Angle Amactaun t^"nited which is carving out an
da isentsientivves seentisves prevyN KATTSTHOL
5
Batur ended 3152 XLicXhLich 1974
Sekan~ kapstal Z Zot o in for 791 144
cachrand cachrand full paid shizzes of 23p 23p
326 Sext s~ uaresof 25p cach
and ata toy reservestuvesolidated
Share capital and reservestuvesolidated reservestuvesolidated 1197 209AO 209AO
1974
1973
1.285 116000 283327AV 28327AV
053 THIS 18
Do rentoge 0 tnt ord ont Jee ES PENSE
Bats j
161 35780 75959AV 35780 75959AV
. .
*** 117 ( AVPENJ AVPENJ
S^ ngeste S^ ngeste LESTINA LESTINA LESTINA
Nat post 12 per dime sot ACT Lee,
wha ERNE we ATER IOR ATL
let LS Nanim OE NE,
ah Re Nanaim
Smart wilmadiwailmaditatiosiwiolmadsiatios cuspart and airap
6075 60075 A Ce meSL
315p
115
13 JA8 N 15.10
eed cebaat
fxr
4
mec ppd
Ruse
5.957 00 5,71373p
Eredsear _ 6,3572
- aztvypressed in United Kinglom otoky
turns for AU POST The s
A PARINGpat219G 61 MC47 MC47 12722 12722 ***
v^'n2.24 2.24 022 202 16 KV tak tip pans ups The ipennants at
PELOSI 21795 burtisyen ot frondad myndars eFAES.
sama inal 22 51st March 1978
2113
.
shikshisks secuted issuelda
: Geofilted Investments Investments
wad
potum potum titvt ^dventure ^dventure suck 1978SI 1978SI
debemituje sexvend dery Anat
182.61
stench
stench
oie Vagin~ tnesVagin~ tneslumuted T) jar von siebenture Stock 1986 39
for birtute birtute stok 195629 195629
3
.
3
:
Taune gag?
safat bun sia di postand b
VT ser^vervendte kun suck 1987 * 4 age fat stres farmi evi
Tio 8. were si 91 1986
OD fet 3.W
sid Swazilara Swazilara Go~ iacties imited
91 per cent registered comettide
ratova~ 82400V ratova~
19728I19728I
152
Hond Hond by Chase Consolidated Overseas V
i el per cent umevuted buah
DMHVAVISAS DMHVAVISAS DMHVAVISAS DMHVAVISAS DMHVAVISAS
......
71 per cent French franc guaranteed
bondebodnded FFS WWDWW WWDWW 1987
65
Belgian long term boans sexured repinable repinable
by ammunal instalments 13 years
Lams rejuvablien less than five
years Befoin unsecured
13
a
De Beers Industrial Corporation Limited
An industrial finance and imetmen qvenpum w asc
main avet is direct and induent interest ofSpytSv~ pytv~
inaal mutely 50 per cum in the
cap^slAE CH imita
ook~-n~-s n hu
Year ended 31st Deven a1971
Issand capsta^ RAMOWin LVVVV 5 per com
preference cumulative
shares
R2 cach n cach n
HI AVVAV vedimatu shna R2 cach
Share capital and resen fummofaluted fummofaluted R19 Saiy
Mazhet et et listed Hite cnimscriy.
Hook cont of Intel
1971
197
6NAVE 23 VAS
investmen~Sinvestmen~ S
Havn conta lista
RISPITAN KHANAV
ZEICHEN^ Proti bebrelavitim bebrelavitim bebrelavitim Jauction
Prodution Prodution and
R32775 RT SSSAV RSTAW RSTAW
179715 13 AAVITI ELVYW
ett adid adid adid
Earnings per ordinary share
Dividerada Dividerada tordinate
69HAV wate.
RIWAV RIWAV
ae
*
Amoun~ pui Per quie
R6 A. FF BA
...
NY
wagums ~"kuo e The
wagums prisipul prisipul i,, at estment3s1st
1974 necans ecas Billnas
Holdings Proprictara Limited Alex
AL C1 Limitad
Limted
SANEANRE |
JOO OL~JOOM OL~M
Anch Arcos nfinito
nfinito nfinito
Bote Set
prefaces 11.4dings
Propietats farizfedarized
Hull ite and timpuriv
PRte
Propriet^vaLimited
5
Higned Steel and Vanafun
Fa at
Brite 1
33.33
Bawa
Corporation limited
Internat^n^Plipe and Stedd
Investments Investments Sonali Atria
OSTOR^ CKETa limited
th set
Oa
Kimberlies Engineering Weeks
limited
Mainstraat Bek going ( 195 el aerdens aerdens Repwerk M^/kkitungMech and Alias
Proprietary lamuted
Moradi Pajer coempum Limited
Northern Limne venguin 1hanted
wah Man~-Nabon Spinners
gradin gradin Funarod
...
... ... ...
Africa Fierited
... ...... w... a...sti...
With reses vitae Burto
canta
Veet Ment ry
11271
Pete
Fos eae ie I
Engelhard Minerals and Chemicals Corporation
The operatives et Engelund Mincerah and ChemaChl emal
^tzw.zivimudrace the muutketing o"vres minerak
and metal minerah and
mining and ponosang ponosang a^ t onmesatie
the refining prosessing and Libekating Libekating
precieses mytak
Year ended 31st December 19741974
1975
Earnings betreuus betreuus
SPI SAHAN
Taxation Net earnings
Net catumKN INT
581 656AU 656AU
SELO tes mr
avertetaver share
AFTEREM
55
talk dikaa
3.32
Davidendun Davidendun Davidendun
AOCTEETBET Won RE
1973
5 #IS
Vfi ant
TYS NVITES NVITES
1.37 15
Amount pu^/ Wet shte
51955801S 51955801S
SIL TRAV TRAV
...
at
PRE OT TETSU ISI
en fra em
NT aSBTPTIID WOES NT id
fra
fra i
.
and forma imam oF CS toe naosandry
Based
Seed Ext
105 my wor
SedeSG ONS OM
Err AE ops
All armetents are expressed in US dollars
Gold Fields of South Africa Limitedl
A timamul zal exp^ esstaver usnum wachi safstanzial
Seppoj ta pyo par pari urabr~-nm^/ruumiPoezradia
have mineral indintiaunld poogvits comjunas
Vestenda Vestenda Seth June 1978 iwand capital K195288425 K19528842K195258425 in 16211 16211 477
25 cents cach share capital and reserves rentowiadated
shares of 71 BAVAR
mers
Eons
Market vakr of Instal
INONENT^ S
.
:
KesSP FS5 wee BT eT Ah
Hamm valtar of listed
ins extends
Hov^tak vd unlesta
KWSBAAT KWSBAAT
Bere ys
ws
IZVENITTE IZVENITTE
Net asset vak~ per state Consola~ kalpendia
Extete Lavo: Tax
Gomoka itelpota
after taxa7
Farmingpesr share Anau -
Anau jual
MEMBIC
Kenali Kenali Kenali Kenali
R3417 R3417
Eee aert 0)
**
RIX A 825957 825957 ***
Se Catt EM hea?
835721 835721 rt
a
21317 21317 eee By
SEF ea
Cate Tor yar
out
Hollandstraatses Beleggings Eiendomsi Beperk
Itx consum a misalan f fodenale Mugsu Be eri
wa FOLDS S141.11 S141.11 S141.11 SITOMIMIVORY SITOMIMIVORY SITOMIMIVORY justovegrasijustoavegrasia
with Africa tumed ant Fa ezde cand Mune starmizi shurekding ors cnet
bead E rtnt e arrtgi enci tiaeer Ppermtan?
Charter France S.A.
Fransana Development Corporation Limited
Tanganyika Concessions Limited
Gold and uranium
Gold uranium uranium
ORANGE FREE Anutio Amen ati ComoranLf 6
Anglo American Corporation Corporation
Anglo Anglo Anglo American
Carvtusd Mines
Frew Grace oh barter
Limited
Limited eigaydet
Storer | strgss a af
S
who deed
Mawtaete den
Frecry
fae af
Sox tae
eth J baeegs
wrth thy eetgess EU eet
avoykini disturbances disturbances disturbances Summe
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Pee supad supad Freddes
pertemes di
pertemes held gal
Sthteawtagees SWaaiaplaans Holdings Mining ty
Company
: c
paladin
fihl
mondpalBadeinth September Year
Yards September September
Me:
copital
1974
1974
BALLEAINE Arca Freddiesgespreking igespreking
se berms by Brats
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onfuld onfuld
Garten freer freer as the
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Bantueaded Bantueaded Bantueaded Mpacibler coy Mpacibler EN Od Bibae TEN eds
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.
bee stead
fees fees fees och
leftuary each and fees texni staadi
per
staadi odi state'in state'in coengum Godd
tu members members
Mizung Cd Cd
Fresadora Cd jagoitia idee share comparacione comparcione Cd comparacione
jagoitia jagoitia jagoitia in shareia
comparacionecomparacione comparacione
the healin val
ih March
healin healin healin
Frada gum March Evitar fonum Frada 1975 The gum
The withmaa
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1975 The
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area Ge azg~ tadezily
dat should should
in sign ezily
1978 the the dat
capsandy be President Gold missed missed
1979
1979
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ad
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1 tee sfutt ad capsandy
os Inst
cywiste cywiste man
nutty
ettariulame The
et ariulame of this expumaoni
et turas turas and no
bun under under fengs
aati
tia}
mans Year tee Gold ace? Jeannette bun TECTEE gems
uijumi Mines Mines Val- Val- '
mining
12 Santos peram
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oBbse Mute. priden
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87
1974
ended lero Copy
197s RP Osea) on unit ue .
14.82
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of Stave
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iepwat edvastu I ed Sainte Tt a edTedeen
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Vee
'
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.
that the tbe ant In 1973
devadot
light of
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Jav and states In Michal Michal
Java
o>
skoicekreita staes beyaned bethTh ar me
skoicekreita skoicekreita skoicekreita
ta32
would Us aortas: beyaned 8S beyaned rhe
i
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=
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thundhi of Amount
i paid
2 BR eat yas
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the
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the the
pupn un
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ait A ER
ebay
a Tt ad the
Attesa paad
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MIE out yey
fet tt at
As ae
Mew. tes
1973
,
SPS
2312
He noe a m^"r^me sold to Free Stine Mucmig a vongony famsed 3 aes
longpont m^rthe sarcomam ach tha had towel mara tray per?
*
to treat
RAS AT INC Kot
we cere MLE mide nie Ae wa rected,
on the coe bat
Kangi bee a kasbyen het ag fe FSW enekasbyen
The man dari remains 141 2 cate mairmenance apan Je uzinium bearing slimes are comminuing whe whe
Pridends .
Anxezz
|.
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prad~
share .
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1974
1973
833 EXT #
.
rp aeeaaye Bt
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ASoU. webu 4ISTS
2 ]]
FOS NR me ot
clara so Pris Coccolars
rt Pures ads2 sores ove eed: women fe
Els last destuitumes dating the year had 3
we iesahenedatia agenITATS ahenedatia ahenedatia the manz's agenITATS
The capital ( Fro^"~ ioiss f^dden ovqual dlaen sbe the vergum and free State Geduld Mines Landed
kes^/dentStevn Gold Mizzing
Company Limited
os
Your em^/n^k/th September 1974
~
malmal 27 000000 in slanteosf 50 cents endi
1974
bere
, eo ee
25758 25758 25758
Administered by other exining finance
houses
Harmony Gold Mining Company Limited : Year ended th June 197
Issad uzpital 813 442 723 in stazzoned scheetos
Ame mocats
[ ** Toma zrezkid
Woking fa
Live and State's
sMagtDiviodend peat Dividend Dividend
Amount puid LAI JITEN
Die kon
... ... K50 265 NA
822 13780 2300
Teme Vasdiar a93
Hi kono matey
BT vray
IAF
An agremena fins Exen ezzeted una with Unisel
God Mines under schr^/ch schr^/chse Hielenia will
operate
develops and the ew giurc * tet 14 Unsch It fertes d
the agveme ox Hekeria white empdences and the datives modis que se
will provide leasing Set szilum talaks and re handle the ene hom the
land . The tal vent has been oturutal a
Minu R9,3 mallin which wil be gread met SAVEZ SAVEZ St. Helena wall taxonera taxonera terenumeratioci~ aviterenumeratioci~ avi
oN palki palki palki tear pet
FEAT
Piel
R14
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KISASAX
Fe tray
K'S SQU SQU
Kto 274 AV
. RES WOVAN 234
BT WEY gh? ae
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Oh AD 10 b by Free Mute Sangalam 481
egatts 1pman and hot hot com
*bi teked teked INTE cand
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enzar hori aiwar the enzar Shel T CAN
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Welkom Welkom Gold Mining Company Limited
kristandad With September 1974
kanaiviquiz kanaiviquiz He 125 evka in ~ arevoSdol cents each ~
147
.
ers
Dr
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eee 2 a 2
ten?
81379 81379
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7
HIE Beene ER OTE Ue
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ESKNAV ESKNAV
Ko Tisa Tisa th
** **
95124 95124 fies
Bee AANe
:
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war had a fac
the
Hinch Infven disturbances series
operat Mysated Mysated Mysated the operKaITtS
7
Western Holdings Limited
,
Torn milkal
gr-agrn anasabsei
GAL ACT BOC Milled .
K /TX
Weking grids pild
Working Working pasda kanilan
Site and od
Tathe edicme pumsixcs Ae Bde ds 7
itera yur
It share
176564XE 176564XE 176564XE
KISVA KISVA KF Seu
KIS501AEF KIS501AEF KIS501AEF 9
Aar tS e 6d
do Ted ety
Seed Stat
and teemage vel ezpal expendame ikammed
mlad
sexe the mones mones mones irnos pedidadion in 1978
A new rev~ zutmoet studisstudisn tna le aventrusted at an
estimated estimated co8168 co8168 R22 5NXX which seene RS gamEKKI
These These s zu addkeuga kuga be met the requifernreequifenrnenssis iesd
the agromnegal with Unnel These Thes bade akat Set compofiti in 1977
FAR WEST RAND AND KLERKSDORP
Otereserves Otereserves
Ho a
value God
angl angl
Uranza- Uranza- mig
SaT ave 4050 2188
Administered by MASI Anglo American Corporation
All the gone tipines relate to the cegum and as
animal a~ v^ istiMeesrr^/ngsud1072mar Free
States Gold Mining Gengum Ismoal and Virginia dog Fee State Go M-ining Genyans fami
Shomever the 1975 figures ze n^ve arideas thus
indude indude the ve~ s^/~ itivees~ s^/~ itiesrosadis kot vez ysix monala
Loraine Gold Mines Limited
You ended with ender 1971
:
Issasf captal RE 6 ^ e^"tistaateset staateset 50icah 50icah
3
G
Turism Best
f ddett!
Vid CHARG CHARG
God per ta mulled
Wicking proda
Da adorado :
Amen zuid
Per state
|
Otetoches Otetoches
Licz
Value
vemaw
PRUNne
...
2.52 2.52
The wagum has zwemwa~ ios oga ogaput
janes & esti^-utedRIVAVOVLI RIVAVOVLIRIVAVOVLI TH ptember 1971
The Afrikander Lease Limited
The coargum varas v~ rtamitrechod zi~ aasnd mineral
zi~ as ngas net utanum beamng areas in the Klerksdorps dhat e the Brass At suntem penes the
congum sutanium dezena does not a vissz^iseva^o
peogan~ livebut in view of the largerved seafood See utamum the ditevens zte Isgeful 14 the loger te^flen pregets Darin the scar endal leith June 1974 the
Agital vidi mineral trom venjum Agital se vidi certam mine righrts al
Afton Gold and Have Metal Heddings Limited and
Amuthat Anacks Amuthat
This augant
Investment Gagum litazet
13.7 173 terms of ad d
Leba entered into by these are unasna^ Ankander
fos vitradi~ nocertain of the mactal night esetes
durresed As pun the arranonicus 2975
2 and
cach in the saputal of the vegum wete alietot
insand be cash l^ per To Afman ( und
en their moTITIES
.
:
Vaal Reefs Exploration Exploration and Mining
Company Limited
-
Yeat craded Ho/Ho/ M
Eonddend e2getal RO waed tc e tiad ved Weaess clas
Catmand Sth spreader 1974
spreader 1974 Mlecre Mu AST EEN ESS cr
ed
ea
1973
iets
iD ted cuyt 1475 1475
a Ste ka?
s77
St. Helena Goki Mines Limited
Ning mezis enda^ koli Sejativ 107s Issan~ capital Issan~ capital Ret 25 25 ke gtr . dizzes Bl vans
:
Natki ct aerstten.
endad kth
RIN
Fare
titne eri Aigtes Bead eet
895 14XXII 14XXII Fee THY LLY KeinginY Fo nae
Teen mind Yards - orn M
* ***** ***** faa
Seem erection oeSt - ornren, S
Wining precab precab precab
tos
.
Unasta Unasta
Auctpdaustc wt
Aavaecatsad State's
abuse ed crete
iv: Save neat
ares RISA RISA
eR seubagers Hem cuns
Rel sat awer 5,
Die
rf a
3
ta
a
FAR WEST RAND MINES
[ 11_28_2777Wenend 11_28_2777Wenend in Sepander 1974 thus in tetuaSTI Son the cessac id periench 5 Provtates od t"fl soatli svest piesa id is einding muning lene Sed ma uh^hthe right to mine the Carlver Leader Rext
noeld sh xl the dengan mieli le entitled to
4.19 4.19 per and gazticipation gazticipation in the mzurial oigests adquisi
v- Paradise Godd Mining Gorgany Limited new pold mune to be ezzi~ n~ nt^o> the wech and wis^
East Driefontein Gold Mining Company Limited
Yelrondal 31st Deverrider 1974
Issand capital R55 448 345 in 5075metenzmin 5075metenzmin 5075metenzmin 5075metenzmin
istut istut shares of RI each tih paid and istut
bened units each comprising var A de 1 Full paid and 25 ans tedoemi~ i~uzvaALM interest beating loan stock
Western Deplech Deplech
Tees milled
1973 1.190 1.190 SU
Administered by other mining finance houses
BlyvooruitzichBlyvortuitzicht Gold Mining Company Limited
Year ended With June 1971
Yield pramuka
Cost per toei milled
Working Working prots
*
18s
2189 2189
R172270V R172270V R172270V
Dividends tordinary shares
Amount paid Per share Oetone Oetone
RIT Blo ES Te
Bid
.
At
.
.
EAST EASDTRIEFONTEIN
WEST DRIEFONTEIN
WEST DEEE P LR EVEN LS
2 BLiLYVOORUITZICHI + Senenenereecenee FLANDSRAND :
DEELKRDEEA LKRAALDA EELKL RAAL
DOOLKTONJEIN
Issani uguital E64000 E64000
.
Ind Ind
V^/rld- gasten ikta Cost per tens mikad Working proda pli
Whaling penda MISATI
Haustion and bone Dividende
in shares 25 terns each
1973
1973
1875AV
7855
1638
17.3 17.3
KIS
B1122
RH8700XX RH8700XX PAKSAV
EWHETWHTEWHT
RY e . d oe
RS
RIS GATAV 1704917 1704917
Main Reet fs
Joen
oe
25m
Than
Value omgi Got^/ki
Verzendegi Got^/^/kRieef
1533
1-15
Tony ,
12000
Theat
Val impl
3235
SIK
the No persision is made for taxations assessed Be
taxation parpnes being estimated at 255 75oats
an 31st December 1974
Amount paid
K2
fxr sure
,
au
Die texTVENT
lien
Gold en~ FT
Lanuvalar Lanuvalar Lanuvalar 'mig
. o
6 BISAN
241
2601
ESAVAV ESAVAV
35
:
ween
TE
After allowinfege miuderoyales MWWW yo B
LannC^ West Den Gold Mining Company
Bl
DOMUS
March mapangz mapangz ketik ketik apited on 31st March 1-
523.44 523.44
+378 +378 Elsburg Gold Mining Company Limited
Fae Year ended 31st December 1974
HYet-tt-t+
@nonats 0
KG
Hi Pind
Dividends
Amount pakal Re shure
Die town
1974
1971
R4 SAYWA 23X
EI SVAl IV
Gold
Gold value 'mg
Utanmunavakor
1581280 1581280 1465
"S48
12778AV 12778AV Leut? 73105 73105
Mordaza Vizal and Cuts Cuts vak
In respect of the 1974 txancial year the first totalis
Socalisal jusmena od K2 SIO
was made to Socalisaal Ho
ings limited amning vet ed the agreement with th 'm
coeryjsares So the muning of the area with the VARI
ine
Western Deep Levels Limited
Year erz^/nd31sz kevertet 1976
Iwand caputa SOKHAHAA shares at Rd it
Zanfindes Zanfindes rowerzar of 812 250 trova denn og opresiva
Bullekfontein Gold Mining Company Limited
Year cridad Beth June 1974
Issued czp^"talPH QVinV sluttF es et Kleach Kleach
=
1974
Vild - 7
<
Cont per tons mulled
Working pro -pd
Net profit LASATANZA
miand miand
Bawctaen nikene nikene
Dividends Dividends Dividends
Ameen paid
Her share :
Ole reertes:
: Tien .
tou~ value emigi
Unartauma milgt
& lost R1495
850
.
8V
100
FK JAV JAV
826959 AU ESF Freud
R1760AU R1760AU
Teck
EwShe
75
6 ... ...... ... 6I6TAU 6I6TA6IU6TAU
21
2 ke
sesh
Pas
hstand capiKt30aAlM EXO K s^nnumsit^/t>
Six moved
a
:
Tvers milled
Yield gram Ice
Cassi per f^,rmaten
'
Warling graft
cadal kth
June 1971
sere
ii
7
aed auey
72024415 72024415
ie
...... RIL
... a5}:
Blew"
RS ews arey Hivsnayr
Ament juil
Per unit of stock
Deviated December
1974
Pet urn^of stock
Riasswo Riasswo
Lt Pex
Fert BS
RIO AW614 AW614
ad
BA ad
KLERKSDORP AREA
:
Ten midad
Inc XLSTEIN XXLSTEIN STE
:
Cand put kas ma ind
Werbung fa
1971
_
vi
Calroat
Baye
15.493 16,377 16,377
N
N
Doorfontein Gold Mining :
Company Limited
Year ended 30th June 1974
Issand upda^ upda^ 509 24 0x00 in shares Ri c~ h .
wd
KATIZZ
KENESTAR PUT TEN
13SAV R13260X R13260X
stazzoed proda Drinders Drinders
Amount paid Per shete
Descu Descu Descu
Kestus
Riway
. leat
|
ta~ ^v>^ kesigh
Utamisen vakac smigi
2ed
"gph Ltr Aes coe
fade Feet ony
= ENg
F3F Ke
toe Fo.ll
Se7 ave
ra ye PID 3S
Sree 2 se pags
Ives milled k^...ch k^...ch geramIN geramIN SOCI
GAT JET LOes ma ies
Wieline -pdf
laudia and sizes
skate od pros
Dividers Dividers -
Arwent puid
Wrquite Wrquite
Oze teac
1974
PRODAN
127
a
RIM
R12 158
=
10731
72244
72244
123
RoI Me Ts Te
Re 8197744 8197744 8197744 .
.
ee
KYSIS MAX
HE He etrt we
G^"d
. G^"dvalor amet
2335 50
shw shw
gras
.
:
;
4
res
Bet
On
0
: ;
FUELSFONTEIN
FUFFELSFONTEINFU ELSFONTEIN
HARTEBEESTFONTEIN -
Qo. STILFONTEIN STILFONTEIN
2
72
at the 1st Jul 1974 Wesen Areas Godd
Me legum limited auquite the emite assets
fi :
4t the vegum in
exchumpeke Poljski Poljski
utzis exchumpeke exchumpeke must Mostan Areas Sekk
d Ri cach In addtion
cy 1578 Fate al units previously held to
Base Mer fizve been caneel
Wrested Wrested Wrested these anangements venjum na
pons is " percent percent the equavid Wesen Areas
Avioni went by yun's cauay
aceb^,tenaceb^,tendas Gold Marin~ Cowpany Lorened
Hartebeestlonteir Golf Mining Company Limited
bead ended Beth Forse 197.4
Spas RET ZOTOAin of staates R1 cah
1474
1973
2956AM 2956AM 2956AM
12ars
2675XV 2675XV F175
143
12,51
SS eves une
ev aktt
RISO AU E552W E552W
32BTBXY RHAV RHAV RHAV
BA O Goth
45 mpl summuuma mi migg mig
R179ART R179ART Jesh
PE Saat 482482 25.52
EH
WWW
SSHAV 1 ks oem!
Kloof Gold Mining Company Limited kezzenSaf kezzenSaf eft lune 19
di cuted Ko Now in od staates Ricadi Ricadi
197
tert
Doflavo Doflavo
feet at
SAYI ite. eb
Bi rN
tonens paid
Pee Cure
Ole
toe ThE
821 574
74
Le
Khwily
sk
344217 344217
963149 963149
Le
2520
262
alted alted barn shocskhock of 2"cents pu
nded und someere u 22 33mit was made
eth in 1971. In dates of the uradition id
th nadimak izis the s 150 3 shutes
thon vete senetted to ordinary sunk Felecizsy 1971
Verersdorp ct Verersdorp Cezat Cezat Red
31576
empt
1974 3143
24hxan 380 380
Seats ater tite
Mining Western Areas Gold
Company Limited
Year ended 31st 31st Decem~ KT1973
Isazal capital capital de Bo 5qt stock
units ad R1 each
Imelked Imelked Yield pzzms Sa
Get per se mukod
Winking prod
Tain and Sante's
duced duced peo~ A .
Dividends
****
291780 291780
675
1233 1233 BybesTaner
3471 2353ay 2353ay 2353ay
roe .17770941 17770941
_
SMT Pater
Artwurm paid ^ rzzud of thei
VictorIKS VictorIKS
RAN RAN 114 174
.
A
12 465-447 465-447
Value 1UT 1UT
13
tuens Iru^-a^-otshe remades of 13bong Gold Mining equo 9
bu ta^ r1974 oond vorzuurzly the 1971 bas 1974 AUS JUMMYLorable H
PeaMte iso ue Ses oan git we te bate
A at 22 22 No. , 12 on a quad be OF aN RD cartes
During 1974 rs note speaded between
busy and Ferg Gold Mining Goerqum Limited of
busy
Western Archs Gold Mining Coengum imzaddWestern imzaddWestern
Atezso to 1zf^/esalivethe mumung opetfives 14 tha tras
ompanies The amms which nee dative
teen Isa as 1974. pontidel son Western Aren k~-
auquite the emmute acts and liabilities of thung in rubangs be the imzae la Ek ungv^' 950 boxs
Weston AreaN STAN UTIs and bethel bethel bethl N
WWFRug
soas~ totta kached in Weston Areas Lebe canceled
Libanon Gold Mining Company Limited Zandpan Gold Mining Company Limited
EAST RAND AND EVANDER
Administered by :
Anglo American Corporation
Daggafontein Mine Limited
Year ended 314 Daember 1971
Ivan art 2 SUV utesWumscati Wumscati Wumscati
egetnies the erad thean ups egetnies egetnies were vendete~ at
od 1965
und the wingum has fundoni e mung branc
Virtualh the vesh me lett to the vanguen is the
uzznald Isexta the tam ar
125,1k 125,1k
sEetias SpCee pwettaeey od wfoate my senctad wth odd
slenes dzTIN
East Daggafontein Mines Limited
Year ended 31st Deventer Deventer 1971 Iwax uzu^ uzu^ RITROX in RITRsO "X nteRiscach Ricach
Ives tried
Vackd
-TNA -TNLA ES
~ intzxt text quia
ants wea
gyre J Ttavaaee
:
Working prot
Jaunia Jaunia
Dividends
RINGAXXI RINGAXXI RIASAU RIASAU
ETM tt KI VZAV VZAV
Artimit pa ad Her stame
K932W
BE Set ave
...
s
EAST RAND AND EVANDER MINES
West Driefontein Gold Mining
ompany Limited
O Delt 4th June 197 dilisupaal Rif952 Rif952 Tech ~ iarovedR1 cach
ont
dttrn UNE oe
ud fein
:
; :
aed peoes
5
... ... ... ......
pers
Z
KITS rn nat ...
RI NST L wae
fara Serr aye
ont BER MS BRE TIN A
:
HF Shy ye
Hive Bvenee wa
Fe eT Perey
et Fxa x
asat
aves cane
EAS
ett
VLAKFONTEIN-
Meters
Diamond mining and trading _
The ovenjum's mine is classified ze an assisted mine in terms it the Gold Mine Av~ zke^ ME STA 1966 he does na quin be a pusmore then the
Ske
Undngiand m~ ZDNE15T2ess ase tim cipand
les continue until at least the
of 1975 futEMIXIN futEMIXIN
e2nd tok futEMIXIN of the v iBaguioescin No. surfine tok danije au
quited some was om om Daggadocin Meas
finated wil va present esEILSONKOMIivneuntil ezh
1973 A
The South African Land & Exploration Company Limited
Year ended 318 Desember 1978
Isstand capital FWAN in shattevod 35 comes each
197
Bers
Then miBod - Nicht gramgram Toes
Cost per ton malleid
Wakisig pot Taxation ars~ SURE'S
FALERIJ S.IE
R1231 RI950AXI
LATM 383
INT
RITANE
RITANE
of share oto~ a Dividends Dividends
Amvent puil
Fer suic
Ote teenEN
220Jav 220Jav 220Jav
KAAT .
187 \\\
KE era RY
Tich '
ampi
1325
10 10
1895 = 124
the overpora's mine is cavsalaas nadn assested mine in
Serms ad the Gold Mines Assesterke Aut Na $ %
fea does not qul^vqul^^v^nanpermea treat the MAC
< An endezv^'nydrilling prey_TES mudung thx
teogening and definting of my cursing forefaks
and the duling of voe nou bedio s na pengozess pas
test the potential of an area to the south of the present mine javelings The dulling of tunties bechodes bechodes will be dependern ver the results o^'tained
Administered by other mining finance houses
Winkelhaak Mines Limited
Nine melas craded Bath September 1974
Issaad saputal
REZAXMANIT REZAXMANIT shareosf R1 each
3
Nine mont
rear
>
ended oth
so N
Joen malind
Seytendar 1974
1540X 1540X
Muon ists
Eve
Nachd - grams BOCH
Const get Gi ai
WorkinWorkging pets
Laxatives and Nate's
a REN R25853AXI R25853AXI
Rey EZN
2 beaLO beaLO
chate od 60 Dridna
Re MANY 372 KM
Arrunt pakid
Pes state
:
detoxnes detoxnes
RIL 2SHAKE
*
Fy Tent
.
ah
Ivers
Tabac re ekrs
TF WUaAba
Vaduc-arat
sat
Bracken Mines Limited
Kinross Mines Limited
Leslie Gold Mines Limited
Administered outside the ; Anglo American Corporation Group
that that e348
that test
De Beers Consolidated Mines Limited
Los Punguti et
The mining
gxr_zioen id the De Bets G7 and other changes changes
RO be S ebas
uadata by The Beers Gendaimed Mines Limitad
Claudidates perta
andr^'ssalm^diaries The Gezst^dzalDiamond Mines
weer fae
^R
KILKA KILKA
of Sach Wew Africa Uimized Premier Transy
Duzvad Mandy Gayum timazed and De Beers
Hatsuma Maning Gengu pasi Timised In
Kimdatke the compuen estas the be Boers Kimberley
and Wessel mas mines and lanes the Bulletein and
De e~ iqunmas fiven sein^/lin
Hie De
vegunies Beats
- Hadisetein and
Deze>spin Wesseleri mines eproazh long spirited De Beers are oGETMOS
the Finch mine whats is situated naili nest
Kierdvezles and the ^ e^ oczenmiine situated in the
Orange Free M^/e
Acument has been reached with the GoverrenNTE
od lovcias Seat the gening v^' the letseng lazi
diamond mine This mine will be trenght into presan
river in the De Exxzs lesche Mining Gengar
Proprietas Limited an persent in the v^ verse bar-
malaci
In Namaqualand De Exxis is unto mining + the z~-ms Annex Kleinzee and Drever Pan while
velaer degumits vai the turrn Lindhangatned Koingnaas can be benag s"50fl+sc"flct tivenis"flv ctiveen27nslavet ~ ke
In additaer the quenquen has through its 19.49 per
verz diet and infitad imetes in Rand Selectivel
Tatsko za~
GACHEEKR's GACHEEKR's duci duci
prodas under mining
Besonde
Chenfilmapoves JE LA Muners ete ani
peame disadid sadene d din sadd end
And/zat^"tca
deferral shazteka dders
Der skizze
D~ v^~ erDs~ v^~ erpasRA
Per Share
Meare Core aean
Bll? ohh ave 12 Kecvee
wat
R14472300 R14472300 R14472300 2286 2286 -84 ae
55,97
BETA 2h:
eer, DSF See
ae -%
The Consolidated Diamond Mineosf
South West Africa Limited
7
fsstand caputal R99SHAV R99SHAV gi l^shkat 4 SCH WOHC
stemulzie pekte due'if
XE eam I
5 KUINUA acy KUINUAKUINUA 93rd Ri
De Beers has a direct interest of 6,41 px err the
Grezvezavo Limited and through its sefe^/diziv De
Boets Holdings Proprietari tinical large interests
platinem and other in the mining vf gold vagyxz
cal
mineral and in a number of inhottal finan~-r
imatarie lunking zat pregents dogunis Another
szfsadzn De Beers Industrial Gerveste lim^nd
indiathand has an encret direth and indiathand 46SAN PATT cent in AB Chlimsel Chlimsela 50,41 percent percent direct imered in South AfricaAfrincan Silver Spinners frogtietana limited and a 10271027 per vem izzetest ^finMondi Paper Gempam
Lummited
3497 xt mm in the pedetene durevod durevod ievixenguavi
which cartes en igen
alt~-nialrum OVDJE
along the weazl~-c~-pnortion of the coad C Wazh
Afka and is
leading Productices Productices in 1974 1974 54.5
n^/kt SS
jadad it am duen
? 1 Sendowed wet^tgyamat
inin 1973
Premier Transvaal Diamond Mining
=
Company Limited Esszand cizpada Riedeva in Iranza perferanse shumes
Year endal 11 kv^m e1r971
vd 50 czas cach and IV icated ~ imesso
Isual capital 121803 121803 78 in SOULA perketene shutes at Ki cash and 35547 35547 Seletted shutes of Veros
:
Features fiven the coerso~ adatel coerso~ adatel coerso~ adatelaveTIST
197
Preferente Preferente capital
RI97
capital xtented share
reserve
DALAM
bregtem bregtem bum
&
Minezy inz
K27 1898
R57 72200831124WV
1973 BRISAV BRISAV
7663ZAW 7663ZAW
E27 IS AWN IS AWN 72200831124WV 72200831124WV
KYrs Eivat ECGS TIF ANN
25cxh 25cxh 25cxh
De Beers Hod sM8.44 per cent of the ockettad ockettad s~ aizesand
Las per cent of ale peckiene suttes of this singidis
which ogxzzes the homici mune di Ceflour
Ceflour
Transvaal Him mine prochael 2 422 326_zinkytk 326_zinkytk
vezi primiquila primiquila v^derqm ualo ityuden rmot une tedddermounted 2 501 erieriansaern ianss in 197
De Beers Botswana Mining Compuny Proprietary Limited Istand capital 59 Shwin Shwin shares 21 c^ch
Dimmung Dimmung Dimmung and madiann ctsgancts Harta var bannad 112
Manger Manger nkacs
DAT PENGANTINS
Iptad cnowracss
Market Market va^ DL~E
In ITOV~
Unistat ENFEINITION
Longforminguss Longforminguss Longforminguss
Mad etittersd Gets
ahha
KALBAU KALBAU | 281 289
. .
3 ; !! !!
Re MIASB OWT AND BS ei Age RNOJ VAN ZINKS ZINKS \\
*
WENT TER RA EdE Sod hE
R125718216 R125718216 R125718216 R125718216 SLAV 2324200 2324200 KPT NMA
RIPS TITANO EZIO NT2X5 NT2X5 RJ4565XE RJ4565XE 57728 57728 57728
De Beers Holdmes repristana Tensed Government at the Kejudi Pomez re elite eisund share capital of the conquish
pum operates the Ora umize za ut ul^chnas boeisacha insa poiskutiein
m^lo auttaa is resized in the l^'ger peshan 271 ** atts in 197 40
228 228 Sat 123669-30231 12369-30231 123669-30231
The Diamond Corporation
Proprietary Limited
duvetat
Ivand capital 155 covale duvetat
~
Intent Be Intent Intent din a^ Oh EM aNmci.
eradi
R4NN R4NN 255712W 255712W 255712W GT RMAR RGNE ATT otal
892 1578
The n^ ses cotrails withivaraosa withivaraosa withivaraosa withivarosa
^"ten^c m~ serosf Hac Diamond
taona let the purchase purchase of ther prostatiti
The copsea fishvil fishvil fishvil
sosaties whats tailane thee bedding
_
Oct
1.39
RICHLAND
MINES DIAMOND MINES
\
:
SA
"KAPA
OF SOUTHERN AFRICA
SOUTH WEST
AFFOCA AFFOCA
iN
BUTOHISPAN WESSELICA
De Beers Industrial Industrial Diamond Division Division Limited
Isstand capitalcapital Rietinatias Rietinatias Rietinatias Rietinatias s~ od tateseach
The vengum is the aber be the safe of De BoxTS
manage dulling and tunt is dazmend trading congum and
abus holds the De Bets greqia puemas melaning Le
infotrial diames is in shan the xi acum immoting the pods of the
dumve~ i undantial
isara and a adminsters the
De Boys dived toearctohearch Lisemen Lisemen
7
De Beers Industrial Diamond Division Ireland Limital
Imani capetiti 147,5 400 in cutevcutoevod d 1 each
This wagum presales talmical stakes bi Ulte
Hich Prostate Ings
Iimited and Manhanand
diteland group AB then admeisters the industrial diamond
in od companSainteavse friend
aa
SENGEA RAI
jeanne w
jf
Wanera Wanera
the trade m^cth reiauesine
In addition the
v^/nk^/^/ib mvem unestments in De Beers
Bus Pagar tismised and Rand Selection Selection tS eee Botesd
Ultra High Pressure Units t~relandLimited
Issand pital 199 Jus storevod ext
De Beers has bo per vet interest this CTI ARITU
and De Diamond Purchasing Trading
Company Proprietary Limited
:
eshg a az SSXXXV SSXXXV jy shares 22 cah
The Diamond Trading Company Limited
equal
equal Datain shines of R2 caka
rast *y atate
* and their sis^/lines ate make the marketing of poem and gem
Bois Hoklings Proprietary Limited
eegresd 5 WhaWhavv in si harn es K2 c^ci
covgaco Id simestrenes imestrenes in mining industrial
femquam a? ING and trimes to a large
femquam
femquam >
theda
venjuman pan^kSesh Attica
theda sedistian De
2113
Horts Hotsa Kuunguzom Poprietary Fimized the be feet
ten ten the ou umine in Ro^asana It
verzij ZTEN Methe De Bexts group's group's unferent in A a inf brobte mining
DINA
oebaek. solzich solzich solzich is ve"madiaskweergam has
stchests in several Canadian mining and So s and anchi sa~ k^l^Dzne Berts
Scandiamant Aktiebolag
Isstand capital Sn.Ki cah
5100000
Sw Kr
in states of Inth
De Beers indirect interested 25 zvrcem zvrcem
These three wenpanies mamdacute sunthetic darmad South Africa and SundSe undn en regeinch
Industrial Distributors 1946 Limitedl
In cap RIMOVA RIMOVA z kautav be te am sumdatne puntaputing preutes preutes of the
certs and 2 50Ma50Mahedizunh5e0Mdahiezdiuzunn JureviJurdevid Solemts ca
a
we
Industrial Distributors Sales Limited
jy Issandal Issandal Ryana Ryanairinislar zzesi iedn slaz esied 502 elbeta elbeta
Abrasive Grit Sales Limitel 1
Issand an 110V 110V 74 XXX of ures
dil dil cahani cahani 10eva H'acostars H'acostars utevidiutevidi lah
Industrial Gr^t Distributors Shannon Limited
Issan Caputal Fisatio FisFisaa atio avt edii neno duress^ i cacti
a High Pressure Units Limited
OASISBS MN in ered shared Bosch
no SF parz parz innered in this conquam
These venga venga venga venga uh the midtstag midtstag et
the xx vdum vdum vdum inatt inatt inatt
dullen muteral and outch outch afferal and ssecttarce.
unit ste ia imiening ^ountm oouatiags de
~
************ p upas
m
?
-
Copper and other mining
Administered within the
Anglo American Corporation Group
Swaziland fron Ore Development
Company Limited
. 7
following following veurNTS veurNTS mine The company ofvizes as isva vre
in Swaziland and is fulfilling the
Ngama
dot the supply of iron to ore a ~-zn +31 14.5 millions dry metric tons of high grade lump
oreover the period 1975
high grade b $ million dry metric tees of
met the period tre 1975 and
fines
*
mediaan grade 72 million
over the period to 1975
toms of
ver
of A total 206 million dry metric tons of high- and
molium grade vee was supplied to the Japanese steel
milk during 1974 under
afsave
contracts
the contracts Lavvur During the vez the unntact the supply
medium grade dee was notistal on race -de temes
v
Bindura Smelting and Refining Company
Limited
. -
Botswana Exploration and Mining Company
| Proprietary Limited oo
Iron Duke Mining Company Limited ~
Madziwa Mines Limited
Tombill Mines Limited :
Sara City Ama a fertilizes manufactuer in whic
Hudson Bay z holds 50 per cent interest in The izenpany has a 60 per cent interest Francana
Minerals Limited a sodium sulp uzte predmet in
Sz hav and through nhollyanized subs~ diaries
pendices base diecastings muinh toe the min
motive trade and zinc m^es
The compum has continued to increase its interests
the and gas indiestry and in
odd
nos^>^ olds52 cens
od Francana al and Gas Limited FOG2 38 per cent and
Western Beca Petroleum Limited which may be increased to $ per cem on crenvers^o of a 5 milion
dollars debenture which the company holds and 23 per cient of Canadian Merri'l Limited The ed and pas
imerests of these craiganies extend to many parts of
the world as well as across Canada In May 1974 FOG
increased to 57 per cent its interest in Itend Explora- Explora-
The limited which
27
intere
has sentes a^-^s per cem in a pres~ ractions suring westad in fadomes^/awith
Pertamina the Indexsian
vil comjury Reserves
State We...~Sz~ stamiath expanded in 1974 and perfective
| Cajamare in rant Jupremandy Luvvianch Luvvianch per
Traseraded Traseraded 31st December 1936
ad Istad capital stock Sex 336 35 im 021-633 021-633 shares
n^put vol
"
local sturchedders equity 7 29SAW 29SAW
Gross res Ceza fiven sale
v products
Increme and provincial provincial
1974
5216338AV 5216338AV
: .
OMTE
v
SISI 150 150 CV
koondation withdrawing the to par un ~fi ontaneSrose tax purjones for the tra KUSTAJAITZAN
igud
the application as die all veber Zambian all wildadding wildadding tax of per cent to
fa
of dividends ex future dividends addition the dividedin vided ndss
the B'eldman stures nete made subject to taemal
evezsil
culunge culungeinverta regulations Pending the TTT of Ben inverta
leysislative the 100 per verz szpital allst ikov mete
prevailing up 50 31st replaced by thone prevailing March 1ste
In August 1975 spremem in
nuas tended
pensiple pensiple between the agnernment v"the Reythik va Facha
Corporation and the And American
Corporation Grap ve v
retrospective effetti of Stand us us & NCCM The
gements were ompleted 15th November 1974
in terms which with
1974
Ist Angst *
1974 the agreement whereby the Group padalad
management technical other services tNOCH
inve and nas temintel nearly
hall veinleber its
scheduled expiry At the request of NCCM the
recruiting recruiting and Angh engineering engineering sert American Gejuzztin Grepp has undertaken tog^'n
tinave to supply varietes service such ametsels ametsels zuzchasing
.
Year ended 1st March 1974
648 Issand capital K2573 2 in 66373 66373 152 A ve^ i
rury states of 12 each and 61
856715
K2 856715! Bm stures of
each and 3669635 per vers
*
257532 257532 fie per tem redeemable cumdune pe
ference stures of 82 each
Share capital and reserves K413 latav
Trojan Nickel Mine Limited -
mining taxes
SHPSO*ANAD Sie 175 AV
longterm longterm kuns K41 625 00V
Administered outside the Anglo American Corporation Group
Limited Hudson Bay Mining and Smelting Co.
This Canadian evergumy omtinues to drive szfstan-
Net earnings a^-os Lauation Lauation
Earnings per share
David : Amount declared declared
Per shate
' Investmeinncthesr
oe
/
SKE579 AM | S57 Sera
SESE
55.1
MISAGANXE
.
Sheo Sheo
SZIA SZIA ! St
Productive of finished
AUPYKT Loes
. Copper
Total ulos rodermat rodermat
all metak
Pro~ abefore taxation
_ - 197
605753 605753 397 XKS
KISSAWAW KISSAWAW KISSAWAW X276 504 AV
of nine base rial part nd its reverme from the operationoperation
metal mines in the Flin Flonsont lake area of = r^,rthern Manke~ uand Sas~ rchenanGender res
are producedfiven whichwhich the company tourSETS GTXT
qeengunsties
561 370MAXI
|
sustav sustav
Laution
Investinmmeurn kettabsle
securities securities MOPRI MOPRI A Pretho Pretho ties
*
5T7ANNE 52528144 52528144 52528144
ar
.
ws Pruutive Pruutive Pruutive
Extraordinary item
Kl63972 Kl63972 Qav KI 532 V
Kestv
177 SAV
Le pra
rind pti HELLO
silver cadmium ink and lead un
Sos
:
tegoether tegoether Amscana puteline~ puteline~ The company
ratiaa ed Cariadu
with Anglo American Corpo-
Iunies
hai
s
sont dutch t 6 per cent in Lutton Mineral
Varcoener Terated id
Estiven has 38 per serm infetest
are Mina Bd Olona S3 of Metion which mim the
tesavevad tesavevad la Kade una depam^/sich posen ete tesavevad tesavevad
738 mullion yen galios ikooni jus venit copper with
and minee silve silr ver vakaru |, me
uempany has pvej~ it^ O The
Stiline Copper
a 32 tema shareholling in
limital which ones a
type
ugger deposit in methwestern British Columbia
grading Containing more than 100 million t^ ^s
in
Lewes of vote per cent Hoden Bay may increase its
throach ^/^/nilling Hors- interest
and development work Hors-
did Du h orkwas undertaken in 1924 in views v~
which + 71zin champs in mining taxation
meld
afect the va~ iny adversely affect
of this vermute
The compum's other base metal interests
per inikade inikade 2
cent izzetest in Whitehouse ligger Mines Ind
vox qala sferes in a point venture with that vo
um and Aman on the Yulem and 14 pvt COTA
interes in Raffinland Raffinland Iron Mines fimiet while
stacyrxeitar a while stoen degss^/tven
stacyrxeitarra tipoed Battin Island
de The omzum threacht its Sylvite Sylvite Canada Daisien Daisien
igytkov a pead mane sinh toanos od 150 million
teen and a refinery in sehen Saskatchewan and
Saskatchewan Saskatchewan produced 1993 VX Lora od matike of joens,'mjoens,'m 19 4 The muyatu of the sales of pyesh in the US sete
handed is Tetta Chemaal imenical In ae
Slu izitac 288
Metallic cadenliglnp Refined cogFET LOTS
70747 70747 135 kg
87 373
75
732459 732459
Sens
Sebr^zam
|
G IN
19075 4041312
* *
ed
ae
-F
BITS TS
1955428
Silber- Silber- ane
7
146335 146335
EME aie
-F
Leaadmciprevamceiprelvel
3752 3752 153 eS
20 25373520 253735
.
oan,
Nchanga Consolidated Copper Mines Limited
On the Zamaan Gypsibeli the omzum
m^fineand divisaver divisaveropet z80 dogger
a ventralisad services
21 Kitwe
aincaadl saonpdperritnrsunmeisneza isChiinngola 2015 Childlifvendase A
operation at K^/seweTAC
wealet Av L^/rberes
wealet the Gegebelt Finly
one per jem of Nchanga's vand ordinary state capital hell
in on behalf
t< he ad~-nG^rernment b
Zamis Industrial and Mining Coepvextizei Limited w the
and the 2 m_ ^md en"ryshare
remaining 49
vend it held te Zam~ ^"
per
'
Geger
Limited
Imestments m the Seemed Seemed BvedaunBvedaun ures
In Angat 1973 the Provide it the Repudia ed = Zambia amnesend certain priginal itunas
the future managementtmhaneagremeenzt zes shutelaulding8s 2 per pertegarding etiaciment etiaciment of the Zanddan vegger mining
m-senMenthe
the Zimooi baza steach
and bak pa8 avand in 1979
fet the
Zambian Gnetriment's $ per si in
MCM and Roan Gevlidnal Mines nete todeermfi
ars tall Such tokenga enabled the
ad
KIB AV KGAY KGAY
Ordinary A and de
B'shures B'shures Preference shres
Ks7 AV
Ketav
Kite
1728Y
All ervettis expressed in Zambian custerka
Rean Consolidated Mines Limited
:
oo:
The comgumy operates upper as mines Mudu egaTuan i
Chambeshi en her Zamicas
Presine Presine a North Wester Gygerbelt M Kalengva in the ed Zambia and copper refinery at N^da The e^ extof the prayanah relating to taxio d
kovances the ap lication application od withholding ty e
change control regulativens announced by the Presiq nt
the Repuddie of Zambia in August 1973 dezakee dezake
Grendize the section dealing with Schune Grendize
Copper Mines Limited Self managementmanagement managementmanagement
those agreed ments similar to
to NCCM and
teltispettive effect from Isi Aryand 1974 bakter
entaplerremmed l^,eRoast Comodidated Mines sma et
The A vedinary states which campane $
cent of the isound capital air had to the St^/ckand
compum Zambia Infoserial and Stiming Gezi Limited Zambia Gigger Invesments t^'mato~ itvi 1225 per cent of the gate in the sem pedi
shares pedi Mar
Kicah
Year endal keth June 1974
15
265 Issand capital K121 260 in 15 SectoiSectoi
each and stures of Ki
$$ 382 Beedman
ERS cits
28s
CHAMRISHI-
CHIBULUMA DIVISIONDIVISION
ROKANA DIVISION
THE ZAMBIAN COPPERBELT
Divisions
of Nehanga
Consolidated
Copper Mines
Consolidated
Consolidated
Consolidated
+
MILFLURA DIVISION
{
-
\
~
Bunga
\
x.
Sy
>
; EWAKA MKUTWA :
Vi ste
Tinnetka Tinnetka
Mes porsch porsch
Gravdalared previe
D2 BIOTEEKTI
Gestidzed
Gestidzed pen~ ia
12153432 12153432 1 850
DET KONSTATT Dis~ derads Dis~ derads
zmeny prav^>
11326191 11326191 1356381 1356381
mr sges
Per Share
173pm 173pm
tir
exong the derived mobege mir eru VINES
to VINES the command's foccemot bege iz weane
that
Beonahong placed on
7453 7453
2nd mine hos bring Fee
-1 -1 -1 ; -y ABO ZA^raomfepropadefdan Krako Tf gasccu1v0sUp ore pAse ot i peo ponfg aa tot All INEZ INEZ ze cyproval inUnred kingdoers currera
Union Platinum Mining Company Limited
Tx
congum des des reverman five s kar
382357837
primiqul wune bonne Raskribute kar
Pizza Miznes I inai
bear ended 37 AR~ ar AR~ ar 1971
Issand sagital
RT 670
wing wing staatenseta tdened di Sikaitis
INTH
reer
Inventives Inventives Nim
Qantal Qantl
2
RASA
Uo sagep Cant
Iudi lette Lazza^
m Then Bre Benet
G
-
Preta Preta after taximet
Dainh
ca
Hr
K 153K 153ott
rsae
mantasy peni
Ks 27a
Ansa Petroleum Beperk
sv^'patial sv^'patialand rosettes K255 39011 39011
laventare stacks beers aradaredir aradaredir taqdities K
takentizzshod
1973 1973
.
415ean 1973
Presfick f^/venod firm^sland
SUGENT M TATE Sere
Metar per pet ka Cornis^dutedprods
Cleveland Poizsh Limited
Somet
Kiln Products Limited
Elwes:
Lydenburg Platinum Limited
~
Lytton Minerals Limited
.
OE GUE Boas
28 121
ark TKS
khte Lavanch
KINNI KINNI
Messina Rhodesia Investment Limited
Be yN Na Gee ~ Bist par pee anes
*
OTT 7 See
XT 444
BORTATI ...
...
...
RIZASSAVVU RIZASSAVVU
,
... Gerst^/ditedpenda u ter
.
LISY ^"^an" i s ^"^"st tava^"a ^"stav va a
Shangani Mining Corporation Limited The Northern Lime Company Limited
Eel side reserauc -
Gres Gadiced perdis
EWE PCC LAV aes
KETANTO00 KETANTO00 KETANTO00 52217 ISLAN K222 SIFAO SIFAO LTS TEAL
v^'murivers s~ utefadders
interests
s^ LKE"
1arnings 1arnings per
D~ Km"N
KISMIAV KISMIAV KISMIAV
S ae
17V
RLF TaN! i.
Tsumeb Corporation Corporation Limital
Waterval Rustenburgi Platinum Mining Company Limited
vy
STAY
Arranumit guid
98 WWTS
Fs ene (att
Whitehorse Copper Mines Ltd.
Re peuta after
PETE KURT a RET Na
amountsamounts exprewed us Zzzudun Lietau
2
Transvaal
Messi^-a Development mpany
mpany
Limited
RE company mines tegyet in the othern Iranual
moder in Rhodesia and hyemezesos hyemezesos ari preguits
cle cle manufacturing manufacturing and fissarefisare cu CSIJALITIONCSIJALITION ae Tended30th September 1997
Sok d capital 428av 428av in tes,,orevertes,,oreverSokk KANI~ KANI~
-10 crets each tih puit sa tisa dizes de
BAJ 3 NON Part
94 A feu mote
f
:
RASTA
*
22
OLOTE TE LEN,
The South West Africa Company Limited
The company mumes beak zimi uza^ vanadzora des 67
Seth West AB^ J
Year ended withfor 1975
Issand captal 9 sths Rte
: -
127 226 venues shares
of 20pcach 20pcach 20pcach
share capital and reserves reserves suverendidated 12.1 12.211
ME
i
fs
1978
Grejestrates prevaujupreva#txitau#txj itauLen
POJ^ JOHNST
:
A :
:
gene ote
30 ceenact h vessunijuaj vesunijuaj vesunijuvesunijuaajjvesunijuaj
fem Bend setgtbee
AM*
Tat
Coal
Administered within the
:
AngloAnglo AmericaAn meriAmcericaan n CorporationCorporCoarportationion GroupGroup
Collieries
of AmalgamateAd malgamate; d
South South
Africa
Limited
Collieries of Africa Year ended 31st
1974
December Issand
capital
R6
220
000
in
shares
of
R2
cacia
cacia
1573
19741974
Coal sales Colliery *
Cornelia Colliery
4
307 380
\ SpriSnpgrfiinegflideld Collieries
| "
2916336 2916336
*
Condated pava before taxan
Taman
Cocmetadned putz Shet in
Dividends
6253
6253
Sp
73255
73255
=
607 22150 22150 22150
s
* 321000
Zele
000
DV
aad re
ore
| Bret
;
21 244 M
RY
investment
from investments investments |.
19000 R215 000
RI AV Jitu
Sardlaary cme,
. '
Collieries Proprietary Angle Power
Limited Limited
The engum cottels tun collieries h^ch
ze wa-
inated to stapply unil under longterm wVERSACES TO
juster SzZSvens vd the Electricity
SupplsytatCioveemsZITT^raSnONyNEL it The Atrit colliery in the district of Middelburg Trany
vaal sapplies Exteri's Ant par
saben fully operativeut will
|
require six millions BoTTS
of oul sez The meisal of mining Armor is being
retired Sa inaeqvezte a muje Kat operation operation
which will zvermazlly penskar kvet thirds of the
Codiery's vezput with the balance fiven undergerend undergerend
Fallowing
and the Aged 1973 January 1975 52581_50
211 5258521581_50 _bez5st0ur0es cones Chich capital 52581_500
rights nsar en l^th
the referred to above
bez
of 50cones
insed
Chich
22nd is nor
Dividends
Ammount pu~ d
stock
kes
1974 RowW
ley
V nF
Peg
RowW Colliery Limited
Blesbok Colliery Limited
veik~ Your ended 31st December 1978 0-3
Isstand capital 540 000 in shares of cems in for R1
;
each
fliptores Indades adus by Balgay Cafuracy Propertype Ismered
| the entire issued shuure unouted of wikok was
effect from 2nd July 1973
aikanae 1-433 72ONALN :
un the company 2
Coal sale- s toces Profit before taxation
TDiavidnendzs tionafterLALEMRI
Amount pind a
Per shure
1974
540 141 + 244600 244600
R149 000
R149
RISS 000
000
1973
333816 333816 EKINVEKINV
EKINV
EKINV
Zubav
Isla Isla Isla
; .
Natal
Exploration
Natal Coal Exploration CompanyLiLmiitmeidted Year ended 30th June 1974.
the Issued capRi 2 5t 00 a 000lin of shutes cents each
With the closure of the mine in October 1965
cionmcpoamneyf'rsobmusiness is confined to the receipt of tov^by
: .
Colliery
Ingagane
Proprietary
Limited
fs
Limited
endedColliery Proprietary ~ Year
1974 30th f^...ne 21
:
shares cach
Isstand capital 950 000 in Mining
February 25th
operations were suspended suspended with effect froma 1973 the mine was placed on
bas~ s catecatemaimarnance
-
-,
so
Natal Anthracite Colliery Limited
1
The
its
bituminous
bituminous
lease of its bituminous cul trade
abuzive
three other producing collieries in Natal 2 The lease of ias coal reserves the Movi Kanna
in area to The Natal Cambrian Collieries Limited It
anticipated that these rese^-es sill le m^nedsur
= deting the year ending 30th June 1975 after which innone troen this source will cezse gos
Net profit
1974
R146QV
3773
|
ZWIP
Year ended 30th June 974 2000
Amount paid
R125000 Zhvae
Isual capital 22000000 in stock units of 50 cens
Fer share
. 2
a
cxh
_
Ciul toes
Consolidated profa
before taxation
before
:
Coenolidated pro~ a
after taxation taxation
1974
667 556
*
1740 R165 000
ZI COS CO
1973 415329 415329
2785AV 2785AV
2301AV
2487
beingthe At a general meeting of members held 22nd Oksider
1974 the disposal of 16 bectares of land
0 was remaining real^>sabde fixed asset of the ovenjum FFper ee.
Colliery
New
Largo
Colliery
Limited
Limited
Year ended 30th June 1974
Issued capital R1 600 000 in shareosf cents each
-
.
Krick solliery The
which is being oublished in the
district Bethal Transzal will sergey Escven's Kr^/d
zumser station at which the first generating set is expected to be cavemmiss^/veedin October 1975. At full
eight and expected expected pressdent^/ven ^fin 1958 the
toguise Apriimutch
ul 2 .
peste
stran is half million
to tons of
21 shares In order to repay existing bains and finanr a^ li
tional capital expenditure the Arnot and Krich coul fields the wempuny made there rights offers to shut^foddershy On 15th Devermiber 1973.140
1973.140 nes
were offered in the 12tio of mu new shares
boc even three b^ldin lith April 1974 KOSODO
dures were offered in the ratio of 23 new shates be
on 22nd dos vex humadol hell and
January 1975
metev erol to David David David suazes metev erol
in progwetives existing
shutofaolders All three issues were underw ind
foul kyein^/machR21HAVAV 15 ren ugual 7
Was 12NOL~
ugual
co
Year endedd 28th February 1974
Iwaki Lapiz
rah
rah
RITSA1.50
-
Gulvky Gulvky km
Net prota &
Avan Ne cea
tory
Ne
tory
tory tory Pers
RITSA1.50 in shares of Ge cee
1974 zuzav zuzav RESIT THe
*
gerd if MATS:
freee
made foe aceccurt, struti ewes LNs
burg struti struti struti struti ot
SPN ERIN PORE Arras wr om
8 foe DA we meses
oy aout aimee on ae
ons ao hy sae news
Baer camatan camatan camatan rie?
weet Bang 1974 1974 mee rat camatan camatan my,
.
:
v
4
^'
|
poe
: :
f
:
fe
Vidbank Fab
:
Me
mtg
:
yo
ae
ae.
: .
, .
: :
Base
=
. :
er
\4 KATAL KCATAOL RONATION
: BALGRAY
BALGRAY
so
Precast
3
NATAL COAL gg
31-10-68
:
Harrarnits
;
S
geprucke speeded
rate
25-2
arin, corer!
ENDUMENS
78
if Ss
1974
NISS NISS
RITAV
RIYAN
KIXAV KIXAV
ere 12239 12239 Z423AW FETAL ESTAV
22500 22500
2221AV
re ae
re
Binderada Binderada
Amount juil Per share
1135c and other
ATVENERATES ATVENERATES ATVENERATES 31 CHA
Iname derived from
inoxxxm
3
ints,
Kesd cree
~
29218830 29218830
.
210500 210500
1-73
Kav Kav Kav
w
JortSe
RAM Ve
Indumeni Coal Mines Limited
Morupule Colliery Proprietary Limited Springfield Collieries Limited
Swaziland Collieries Limited Transvaal Coal Corporation Limited
Vryheid Coronation Limited Witbank Cosal Holdings Limited
South African Coal Estates Witbank Limited
Vierfontein Colliery Limited
smvezla smvezla ended 31 December 1974
Josani comunal R 1963 85 in sfurevod sfurevod K2 each
woh Seen Lim^zsNos GT iim
= mety fas B.tgennn
Is marins ended 31st
Dovember
1973
Year eie Ath Jew
1973
695 254 151 371
1158-332 1158-332 813
Year ended 19th June 1974
Isstand capital 22 in 000100
Guluks- Guluks-Gulks- been a Preka leder taxation Tauria
Prota ake tuin Dividendy
Amount Amount poil
Pez dute
shares 50 vers each
1973
1973
143440 143440
1550525 1550525
25720. 25720. Bab
sk skava skv av
TEATAN
53BAV
V V
::: ve
FARA a
Administered outside the Anglo American Corporation Group
Apex Mines Limited Blinkpan Koolmyne Beperk Coke Producers Proprietary Limited Trans Coal Company Limited Witbank Colliery Limited
ant tee Ew
369 370
125425125425
u
iSaoes @atSacth
...
862356 862356
5-5910
Wankie Colliery Company ited
Giben
145866 145866 503304
_
Year ended 31st Augant 1974
of Issand capital 512 668 744 shares $ each
1462910 1462910
_ .
197
1971
Tees Callest pendia wlete La atowves HALE HALE
Tvestadmed penda
R35750V R35750V RISAV RISAV
755AV 755AV
_
Gul - wo Gic im
Yar leres
279
20679 20679
TolT
1
5255021
SZY KA atoes
- 200000
2755AX
Pro~ beste LALI A
TSFAXX LP Breet
Amunt
Tazio
5491
|
SAV
Amunt quadlo quadlo
RINQU RINQU
EZVWV
Profit after Latin
SIWAV SIWAV
SERRA
sure Ese deo foszagey I Boms
Ex Ex
Dim Dim "<
Azsment pa^- Pet share
Inted ime^ TACT~ V
51 520AX
IN
Shesrav #K
m interest interest interest the made29th Biruncher 1973 1973 the
ZNESUN
{ } Quad the mane nad her ci
Syrambul dillary fe^ened
by marides of sikare
#ganghela ochonac on one new x1 sty sty sty Lat was of
sal 8 held seVyrashi Vyrashi stk cht from IsJanan19741974
Folbzon 21 dagbokzame ve Sevaggiol MACh Padamor
adsifizy The Ar^meson been omseaded adsifizy adsifizy of the Vivamuona states French and chodani
adsifizy .
From
Sony to Me
A Punche Balbeey FB ^finveder Babale pen of the apni
expenfzxn^' kelly Sse" required
n^radh^
required for SACE supply of and as Logan
abbazines ander cocran for SWI 2 Fr. ^ V
changed 1974 by et ennans roues issue 791 987 shares
July Desember Collieries Limited YearCeonrdoednation 526avisi 31st December 19 s~ urevi~
BA ened
51 205000
AV
MarketMarket vakr
Unlisted estments
Sasav
SI KUAN
Lo Other
53 193 XX 529610X7 529610X7
$ 58 "
SAV
All financial expraree esxpsreessd ed in Rhodesian cUISTOTKY
of sales has
ex^ AS
sa",,pilitno gthe Colons cad prepuzun zion Ter prevaros
Fir 9
fasve Foon atone Ai ara.
4t2or
Sry
kelly creecr hanged Se
kelly kellykelly kelly her have
to radiation
woes. Bw Oe
In vanad Wwe
1974 the udhenat uzpital was m Smy in duo if it each us
in shares of $ each and the compan as to make a tomus issue of rose racss skizze boe
net,
banned capital capital 23 6000XX3 6000XX3 in s~ urevi~cents each
grach vedmans sluie lubi in May 1975
company omares 65.45 cap thes issuu ed cal psul
of Vryheid VryheidCoronation Limitali
1974
1973
Zuinguin Natal Collieries Limited .. |
Yeremiad Yeremiad 30th June pers
Cosonation Limited toen
10 115
50 DE
Pes he
mel wie
63 94
-
Istikad capital capital
.
Kievnyvin
Gang unul - salteoexn
Coepetatited! pets
xx < EpVcdaced 773 773
^ berkalatedpoota
sazrevad Solvers cali
1971
K
eer
sare
2412247127 24127 24127
s2h unre Riss ques
cay Evrae
R43780 | FLITE
21 355AV
FTIR ANE
ater L2utton
Divaderas Divaderas =, ^ SE SE 5Azad
fare
RITS aw
Krys acer ate
Fore ee
PLE
et eR
K. 165AV
Mahe woe ahh"
Nal Sy Tar va eres
aL Late
re
Pag AS eee
met mill beingreadieredadierd eadiedfor
-vaitgeze -vaitgeze done has new capuntes med topacity
SAVRSTVOV Ludas matresAges la pest
Industrial commercial and financial
Companies within the Anglo American Corporation Group
Airkan Eagle LifeAssurance Society Limited
stichs stichs vegum stichs stas Boermans in 1937 the largest
1
ide sveter
Wethalka Wethalka and is
in leading pankrottet et gruup f^r^/reprlans and industrial de
of life e toms BD as tall range
produprcodt ucs ts
ml m^ls perfis guda~ iosproperty
ava abnial abnial pharm salm~ lian life am-
aN omktaar Warner Be Awurance Comijum
Saw and Surfaang Assurance Gm of
tetinSad Eptcend
Anglo American Industrial Corporation Corporation Limited
the Bix creatives Armi ss Seemed to consolidate
of the malarial
Ando American American oy
vervezzive
nns nns an ame tie in the provision provision of
see imbistiniimbilstinil prociatprocaiata
ins ins peruigui peruigui uren uren ate its three
Vanaf egeruns m^furios But Inter
kal Sim Metal Tumita ani NA Brow
SO portman opraj VI VERMUKMINI JO SIPIZAMO
ta$S han the Weth Mokin vuOTOOTIN
Dist Bovendx 1927 172751172751172751 mordaun mordaun dutes of RI
1978
1007
R1_257 R1_257 SEYN
we a
Pistol Pistol Pistol
OT Se
onSatgad greed g
... ...
ws
tated peedsg e aire wf SevEcus feet
IeeteNs
pr tae
RIP IS AVA 748 AVIST AVIST
Kvaerner ENS TESA
PUSSOM AV
19 AW7e1 FIT Tse
3378288l 3378288l REL OSEAN
etlnt gunet
|
6
RPS YIT
De
STS
s^afsadazafsazdazz corregiamieasr Vfsz Dekende 1971
Ameraan Imbstrial Emance venpum Bjarka
Seowtawas tradantrial Investments Limited
Was Was darotain daropit cs a laiikns vs raad > velm^/litt^/es
besimetrima wt A besimetrima
mod
besimetrima fizikal
x
preg . imized ra Seeders
lines Frogtietan [ imized setae |
which
JAVE KM Tomar Tomar Di I
lm^/
T Sstegties
ecard permuad
AE aces Hodome Dial
45326 45326 45326
per
seri
Hari State Land und Estate denga^/rry_#Pres
International Limited 1st Jeh 1971 fustanaj fustanaj Hard Metal Friskuts 1
L
termined churreal its risone ine Ben Izania
describe limited But letter to
surge of ^ sizim Eun
describe the mannicul a ulat entra sue
through s^dan et Ange
Timbed is
Ameriin Indiastial Geventiva Geventiva
its su v^ istieasnd awwaistev
engrand in the miniature and musici et al
types et da rtvedand tungsten czibide tipped drilling
try zevi~ sand perilave ind undergrund ventrat drilling
and the period of mining shaos to all maj
mining wantries Boun has the etilishaat itself in
a supplier a wide range of tungsten carb^"aend
diamond products to industry in Southern Africa and
,
Australia
During the wa Bent interal as hiding and
# 73 per venn innot in the liedes gritj
weabuckts weabuckts ommpumos which
contact during Cal
the murm^nitureand sale of drilling ortopteri va
markdavidmearkdvie markdavide bus^s
The consolidated protat of the Beant group
, st
auna and mine fuzzelodders and ma
R milber be the seat to 3x Deer 971
kompureflwith R5.23 millson be the prev~ NGSprev~ NGSVEZE
Bryg & pofttal D^ ZELTENSO D^ ZELTENSOAKIZZA~ UDANDIT Baan Diamond PropProdr cats Piroeptriaetraryy Dimming Bun Dilling Proprietary Immized Hunt Dalling and Gretracting Gretracting Rhodesia Limited
Pain Hand Meth qektary Limited
Bount Hard Metah Europe Limited
Bann Hand Metals Canadas Limited
Bun Prskats Rhodes^/rLimited
Beast Tis Propriet^riaLimao
Getratu Getratu Ikddings Limited Diacza irniced
TESERTUDUJITADO TESERTUDUJITADO AH Mirafcill Mirafcill Limited
The Deeza Drilling Co.
We GMEIL
Limited
:
producing a wide range of refracters pechads and
canhenware canhenware pipes and fitne
Year ended 31st March 1974
Iword captal captal 795 X in shares exh
;
1974
Tauba
:
Predt after LAALISTI
Safety Safety SHITAN
Dividends Dividends
Armounet pasta Pershuse Pershuse
SISHWWW 14
All amounts expressed in Rhodesian Rhodesian utency
Computer Sciences Sigma Proprietary Limited -
This company in which the Angh American vervez-
Grep has a 70.52 per com shardhai ling viers
wide range of computer services including including butch and
remote pib jonessing and temte omgezme thread
devel devel penema to sell esquizend beretur Systems
and
support is ponaded by the techinical series dan^n
and the soupumy's hardware marketing selsafizn Computer Adunes #geitan Limited hins but
the s^'grainsates with its profexis quiinulih
Data rang
Freight Services Hollings Limited
The Freight Sn^ogrez ponades ponades senats in s" ng
ping dating westanding ening watergung tonel tonel
stevedoring air freichzine and s ugasngenai During the vent oompum te aits starmaa
investment in Mozambiquae in the dapanul 14 puri n^
is stevideomg interests interests Ando in Amacra Industrial Gevention Gevention and Chanter
Gerolafited Limited together together hold 77,15 per semint semint
the espanty of 1 zeight Services Hollings
Bruynzeel Plywoods Limital The songsam mumdadizes terers j^ uavad^ ^xi
G. W. Holdings Proprietary Limited
thongan nad This compum thongan
GW Be and
as a folks ons raad
vabissnow
Industrial Mineral Progrtan
Burd chipt temered chipsand dowies szis medlings Imunital beans Kass~ c IiZUMES
torniture and aartgwt em a rtgwt em Your endal Mst Bovember Bovember 1974
Issand vapisal 393 125 in AvVaw si jer cumulative prekrime lures et R2 cach
um and
10 IS2 PSO vedinn shutes of servers servers eachKulka
ruid and 210e puzly paid unes of Walserv Walserv
E cemd puna ,
Share capul and townvisionoiafzob townvisionoiafzob townvisionoiafzob RIS 7111998 7111998
:
1973
eras
Kometadatos prets
] 235 UNTITATI
DotETATI
Cveneba~ atedpenta SHIRT SEMESTINES
KS bs revne
RINKW RINKW RINKW
Ee SoP yar
martin
martin
victois
and preferere preferere aaddaatt za~ ^
Passaee pat
virtopa virtopa sing
SEGEMI SEGEMI RETENTION
Amunt jukka
Per share
Fr ower e TITS
Moen
ones Ue Pardee
silm
SXay
RT Ube any
:
eat PRIS wees
**
PscetaN Re 2k" a8
tnd Cegpeemorw: wha Peis ee le per ans of the vedaan iwasiwiasi sharevsa hareva shareva shareva
Clay Products Limited The sumpam 2 ONVEIS LAKOT LAKOT mei Bilmu Rhodesia
Limted and G. W. Inaletul and Chemical Supplies
Proprietary Limited and Haden Minang Propoietats
Limited as england in the mining processing and
smarketing et a male range it inakosinal minerais te
member of
industries pari n^terpintaq and dav zasthoral zasthoral
including the fundry refracto refracto
pintaq mid dulime chemical ceramic
pharmacutical infinites Its
mlin pressing plam W at Waterbe
visitors Germiston and has a mander of muming visitors
^ TI VAIDOLS PAtis of the vouLMETS
It was the first commpam to supp~ s supp~ s dzene sand to
the bunda infan in Europe Sulsumul sei
sales fine fun pretural with this posfat and a
wapite doing and become pline hus been estab
Inshed at Vloom Hefund tren best Rectiwet phreewcfooas Rectige om tebinewest olalishindan Betta, strgatvis^ ne thin business furi fx~f-x~n-n olalishindan olalishindan
| Bruvich Biom
Anathar Anathar s^ma~ kasr^ma~ kar Zuraf^rni Zuraf^rniZuraf^rni
profices sim diod he the pr^"d
Poptat^s Poptat^s F^mda
ant tha quind
mistry and nolma~ enolma~ e be the in the
the plant
filteres ad 6eLEtta,
ettSwat. sotaniturad sod bere .
JE KOMUNCHEN 17 filteres met Home Home
.
L^ S NOSL~ TV4
inchine inchine the hates halt .4 1976
spannwadir spannwadir mima s~
is poster poster iguaziguuazu it thus vempumu fazy na terasi terasi da
away ad Ex kameror for
fee this
places
in
so
V^ niexpevet voders voders
poda/but
ant
an
Company Guarantee Life Assurance
Company Gaininfee Life lite Bikes kapronundanto
Aft Aft pronundanto setVines setVines setVines try thay
Limited
Aft
wrust
lite panzapanzazzue upanzue e
and jinxx SequinSequinix iSeqx uinix und -Gova -Gova -Gova vabi naman naman
an
81
7
ee
50 cet
7
50 1
&
The romane prestats maling maling maling Home linked to
separate gwulsad progym and opent investmITIE b Am ubodh vetraf vedsadiary Guarantee like Propsitas Popektan time has investitatis in several prstne kuatavers kuatavers
Highveld Steel and Vanadium Corporation Limited
Hladne stal and Venafist Compowalnote omares an
STATION STATION 29 ates, text and sanafiam complex at Wailunk in the Transvaal Hide other with its u n^>cmh azi valnatistics tural EESTITANITIN
op ectans Finzel and freestone MineraMiknerak
<<<
+ Finzol be^bnydes t^
pasal
toservis telling woe 120 millain ters and in a
tepsija- ^ ^serverzog munaal beses in the course of
river will vest in the gogy redhits to tartiner estimule
the :
ea Bitlet Coret er
The tall vec regurgitaties regurgitaties Foth the sexfun~ saraf
the Vanara dansarei ate supplied in the corporation's corporation's corporation's MapvalMeapvasles ji run KosovenKiosovlenil
Ha pubemume of all satans satans of the steelwork
Shane the bunch wear endal Worli June 1974 te
munagi sandston nith the stod plant aufneving aufneving a
coutum qida test_found test_found vamped of
vast b^xkx in the
ing it the mug of walkers n^ledintera
sexcsie xts h sexs ces ivei sexcv essie ve war :
Xct me be the full see embes Msz December 1951 wa RUSIJOV RUSIJOV RS16 RS16 RS16 RS16 resima which a
oExarew oof VINNAV VINNAV KR been made in respext
panae panae
be deferred tax.25 in toping with the
pod^s algal al al fume 1471 to deate suah a
Ta Ta
.
Ha dah simeoni an ion kinac w CHINA-
whether whether months aloca^ sanal in order damn be
Den 17
the sixth Lun in
vt schedule
prezzanine prezzanine Keemilin Am expumaraexpumara
Maiam ad
unting Keemilin Keemilin what will interested interested
povahataki quites tuliavet for
povahataki kme kme scan in 1974
than they The prodhime
et ^
in babes further
Latias
luch the item and sad plants and the
ber barogt
3427 by Seth June 197
kapitl King kapitkaapitlal King Mdf effe effe pre statevet R1 cach . :
Shore pasa:
NOVE REMINKE REMINKE 1666 82
Bi DeSa a sceu NETTHEiN T wet
Sortie AD ad eee
1978 RAGE RISAV RISAV RAITT STS aye
ance
Bowe ae
BER Lee EM setae REY
Inte Ltt
SOLU SOLU SOLU fat NO NO
" + "
Somer al tad inf rote ee
REE Seen
Ri Dect
gt ese
ae
ES Ted KRS Ts.
RS STRAW
PAS Se
sS
aay
is TEN 0 BONS TANT AANTONAS tr pertennirnreds
SRS UN SLOMAN sores
techod shah amach n^mto sch
37 urai urai
gt Bey
entered corres wond wond
the workedte workedte workedte
et culinar um pummif pummif
en
prades STOms 221 2995672
SAVZA SAVZA Suris
KISITAMN KIISITAMAN
sl
Hippo Valley Estates Limited
The ovenpany produces preskats in Rfa dessa
suck
citrus
and
relia
Year ended 31st March 1974
549 cents Issund capital 56 65500 65500 in shazrevad ,
each
Limes~ onLimes~ on protizs on vie DE ~ MEKEKents ~ MEKEKentsand lived
nts and Javaveants 35 rifleri ING BUY MELINA SITE
Net asset val pet
3380V
1971
1973
ordinary slate
2411
FAIL DET ENDETTARI
AV 525730V
karnings per vedindiv
Davidends
shute 597NU
oh
Amount juis
597NU
$ 145200
Dividends
Pet sute
120
12
Ordinary shares.
.
All amounts expresaf in Rhodes^/^/snurtery
Atnvum pua Pet share
R 73 12.K
Illings Proprietary Limitedl
The venjum impvets anal distributes Manda pussen
cans and light commercial vehicles Koenutu canth minine equipement Hitachi cranes and Indramatic
mechanical mechanical euni^ es and Kiemitsu and Amene
huning oquipement Mack heavy macks are awembled at the compucompumm 's pl'anst in Uitenhape and the franchise for Mack highway tracks has recently
been g^tol The company is untrolled by the Anglo American
Geveaia Gray which bo 77,075 per cent of the
vedaraan shure capital and sa per cent the preference
uputil
Industrias de Caju Mocita S.A.R.L.
Preference shut^s
R1063 R1063 ae
Mainstraat Beleggings 1965
Eiendoms Beperk
The augum was bema in 1965 ts And Amatir
Grezvestan and the lakerske Manheur General gogy be the purpose of imeting pem utin th Lidl dengineering dengineering and ben if ihr um jum hun interests in Highveld Ned un~ Vuma um
Corpvention Limited Hill longmire and Genpunx Proprietary limited Imetriacul hay and
Imestnants SA Proyektary Limitesh Nezan Link of South Africa limited and Una dima
and Wagon Crempany Proprietary Fimited Fimited
The vengumy bod sa license to process 1000 m^ttic
toen of vasdien send a year at Jo^-oEcho in Mozamb^g^ The compum is the leading exporter of unnsted
devloped unsbeu karahs and predicts in Mozambique ind
has developed markets in marethan marethan 2 ventries under
the brand name of Mexit Mexit
In addition the oengum s segbes~ iarIyndustries de
Capa Antenses SARL operates a sound factory at
Anter^oEne north of Beitz which holds a licence
to prive 15 AVI METHT tres year
.
a The mis kachorios will pro ave 1400V Shes of
caben keinehs and JAV metric torns of CKSL a vest
at full licensed throughput
LTA Limited
The HTA gapy is one of the large building and civil
operativess cancering groups in Southern Africa Its
coeunt.it embrace coeunt.it imhinurial and residenzati bud
ing infotrialised building systems steel
tubes statin and engineering in all its aspects and subs contracting contracting Airdies be the building and civil enonung ind
Usp:
Year ended th June 1974
HaHz az
a tal 64mm 64mm B86
qual avidian s izzes ind
Riab
a
Mondi Paper Company Limited
The amgumy's share capital is held to the Xnxd
American Geezvention and De Barts javugs 2010 be
Johannesburg
Limite
Comotalare
Imement Compan
.
Monada operates a paper mill at Merebunk Duzburs
machines machines highmpexli omprising a grounlund mill mo
and a puper finishine department
highmpexli puter
Prentier Finance Corporation Proprictavi
Limited
facilities facilities and activity is The principul
activity of the compum the
of instalment credit
mmea tena
A s^/ls^/fiamcenzum First Gestalitat
Competin timital spevulses in the
minute minute pri
:
Rhodes Fruit Farms Limited
:
sine On its extensive ostite in the Grove Drude
of the Western Cape the cepum gebe
Beukg Ree
the Secth Atma
ante
vanning vanning in and be vanning van Exam A Jun
and table grapes plam was bentight into operatin operatin duke 197
prefaces svine
am svim
developing a major pegan cd dsc:
valle
pual ordinin 177 Sext parthy
El cacht Scents puidust
utovet
vautAY
Saute Inemine Scheme 132 Totalis Totalis quad to per dem
SOTA omvientible refrensibi
> preferens~ urovapreferens~ urovaR^'ach
Rt 68) Teer
_
151945 151945
_
_
_
State capital ani tosFae ntnte rres nts She seat ue
Choodad iaipratit
ists
malous malous a of livestock livestock sevtive sevtive
Scaw Metal Limited
The contigam which is whitened Ando AmCTILETT Instrating Instrating
opvikes in the map bus bus letrHAS LINARES Ofertes Ofertes and non
afted afted steel products
.
vo grinding media live
The sat
Ex tette Dem
saute:
wTEXT wTEXT wTEXT
wTEXT ni Samata
Samata ot
Resets shits tadlaege
Leen
RW RW 517 517 !!
BE ve?
a
vempunas e the year aradat pist in 1.25 11906 11906 currpaares with KT142- KT142- KT142-
Bloc weensaimn fan imvesrmacmis it HE Vinadan torporation Samtal Fe -
induces Propontin 7339122-1
Invatermuted Invatermuted
Sectvelle Farms Limited jamquos vous feral to conv^lataend develo
MALING
BEKTIONts American BEKTIONts
of the Angle American Coepvca
a MALING Kas green Its operatives emisne
including including cont Afufties
uhun af she find
the gaming gaming ve
rusiko rusiko rusikopo and laceys and milk preisfors eset e tens of the Transail Orange Free Cape and Rhskva Detslun kanches
Lumad a nh^>chosumaal su s^durhyas an tug option me Geb
man chehunds Limited another ubadh
kun
pendaes & Ini tropical
neilx~-nItams~-z~-l antk^/bvez^-as antk^/bvez^-as
truits
fomuters a range
under inrigttion in the
S.A. Forest Investments Limited
NE AS NH qIXINE dog pa denimo st De Gina integrated plantation and milling aqualad m Nuth Af^sThe group mums extensive
a2 rives and opties unmilk in the
ests al and Namail and also mimuinntes
met bezit gaveNY
He open bod^approximately 95 per cent of pie enpatt 4 best Infosities and Veniers Limited
anababars
anababars anababars the erzite isaand share capital of Peak ees ted Rak Tenders in tuin enim timber
sidants
jadesxrates jadesxratesa sawmill in Swaziland
The Natal Tanning Extract Company Limite
kampung sexm Sny hotares hotares of free land in
basin Transvaal and Natal which is planted U2 Gan vidlatko swith snakker areas under pine gum
staz~-r cane and plasmam The principal principal opera
pondono pondono ad Lanning exizat from y,,astley,,astle
throw fastoties fastoties die ofxtated be this purpose
athla vellain is mshats in lading approvis
a SAUREN
vase
be
wattle
timber
year ate
* feed find ate was revenals tened in the
devstva t the woodlands division division of Mondi Papei
Transalkovs Proprietary Limited
oe pin pin which the Ang^oAmerican Corpvej-
2
tan~-p has e5 per cent shareholding prosALES
emaining mine phys at plant mele Witbunk Transvaal Transvaal
emaining
15 per cent inactestinactest is held by Philipp
wits AG Sugarland Sugarland
Vereeniging Refractories Limited
mamilacures self sapuna mamilacmuamirlaecurses a wide range
k oty
Ventas the Main Works Vereeniging and the Ventas
Ventas Winks soring The muin vomsumers of
abtes are the steel fetalions fetalions dans cement
S
ties Uther peobats maminture maminture
:
#gland bemate pipes and fittings build-
^ ss^/^tss^/vt alaia pre strowed beams and linzels
muna^ntate it wouldte tooting prohats is
taken be so~ nalitiesVereeniging Tiles Linitized
ying am Rai and Cheea^aGaatete
*** *** Hummel a Durban A pat venjum
td Ex pradis awseact te ereemeasy Pes
and coconutson Inkstiil limitedis bany
64 take met
Sa a Beat
the mofing tile operatives operatives in the
span Sadat JVZZZ rd 19 qona vegan
eitherMECKHO eitherMECKHO babes babes lumin~ perdes perdes eitherMECeKitheHrMECOKHO
DE 22 pipi mapana purpflprass pangsa ar
Nac Verewngeme BUA econ maid ragaze
Si eeempne and suppliebde the min-
suna sulnadianes Minion Mineral Gemmpuns Pu
Reptilia limited Limital and Retract Mineral Piate
which operate squiries in the
of South Africa
And Bla evia tegeundy Moguni Migrieie( Piv
Cullinan Limited jointly ostrze~ with
Minerals Limited
his recerals commenced the miningmining of munemente in
the Northern Itamauk Itamauk
SVRT^ Year ended 31st
fire
Isstand 4231 R3 SVRT^in 51001935 Dedina shures
of 50 cents each and eviewSE GET Lumulative
non redeemable preference sharevi~ sharevi~ K2 each Sture capital and reservesicomoldiradi reservesicomoldiradi RIS Story
Fixed zwetsk zwetsk
1978
1933
eprexiat~ ve
Groups profit before
1312757
Laxton
Group poti afer taxation
and debat^PTH debat^PTH T^ META
s uszeholdersinterests and preference din ^/kta
karnings per ordinary
Dividends
Dividends Dividends tordinary
RI 76AY 76AY
RIMOWA KU3-20 KU3-20
R2 HAV nm
215 325At 25 FASAN BAV
2X 597V
3 *
Artsunt pua Per share
RI HOAX Irw
Ae Aaa oo
Therap ger ore ote
UE let et SE
La RMS PEE TNT AN ELST
Aytere fr Ata
Bele
-
AcmeTimber Industries Limited
Boart International Luxembourg S.A.H.
Bowater
Limited
Associated
Industries
Proprietary
Central Reserves Proprietary Limited
Central Reserves RhodesaPrivate Limited
Debshan Ranches Private Limited
Dewhurst Fresh Foods Limited
Eastern Transvaal Timber Company Proprietary Limited
Ewing McDonald & Company Limited Flather Bright Steels Proprietary Limited Forest Industries and Veneers Limited
Gerencia Industrial Limitada
Industrial Metal Products 1972 Limited IndustdreiCaajsu Antenes .A.R.L
Peak Timbers Limited 4
R.N.F.E. Private Limited
_
Scaw Limited
Shaft Sinkers Proprietary Limited
Simoona Estates Limited
Zamanglo Industrial Corporation Limited
Companies outside the
Anglo American Corporation Corporation Group
^ E Limited
The demigum presses minne egbies and mies
Smi
XV a^-oraje smajd sizing g ****
faded ht cati ne. ga 1272ga ammrmd Rixwhestts Ge mnt fants
. M^/^/risankouNasiburg WurstWurst
Roemteyeeticut: A s~-fs~-~ uwnimpunts oti
p amp as^Berlin and indinimal heal is
Sbi~ eva Other mave mest ik hxt
vent in Pre~ ax Pier Ho^lines Preventana Limited vejer serm of the vas quired quired from Potez Hedings Limted with effect from Is Oktober 1975 HV3T HV3T F in Dungenta Holdings dogmatan Lamial
ensquared during 1974 es jx7 cem in Kandesbade
Kandesbade
Vizita and 49 per cent in Inwent fethizer Pe
petan lized in altzon the compum n^/isp^/its
te an ananger is terms of what the vivianling
Limited stures in Devesa Hoddings
and Pun test^ es
Limited nete Juquited in Suth Miwan Malas Spanners
Prepratan lumted in odumr be the man af
Jogzitat AF & ~ Idures The Pan and Eveva shares JogzitJoagtzitat
nete in turn sofllto South African Nets Nets in
eutunge be nos shares in that evenpum As a result of the timber ABBOTS investment in South
Atrian Mbeer Spummers En intensed from 15 pr
sent to
cent The last last wel fused
antimonia p anz 21 Meshlerbecin was broad inta
sullfasal chemical use in Dovember 1974 A sullfasal chemical
te the pru ationof PVC and a
chemical complex
range of ah^ncos
dermaal pershads is to te uminated Nav fungu fungu
an extemated and in euow of K mille jai s
scheduled to be completed in 1977
Year ended 31st December 1971
sumline sumline Issand
capua
RSKATS RSKATS RSKATS in
invov
~fl per
pedese Sus K2 Cach
vaz
and
8 los et 350ved~-n~-snhares RI ciaccihach
Sock reservesterskaftet resrvesterskafte Share capital and reservesterskaftet reservesterskaftet
Hesen copstal RS7
reservesterskaftet KISS 6flflA fl 41
Isny
Bevk vakkarot fixed amets Irade invesIXU TINS
Net net value par
vedinary shie
KZ163524 KZ163524 R2 SesaxU SesaxU
R2.19
Stett
4
Corru adzie~ Corru adzie~ pro~ it
*
Rectan Rectan
Bavteetsfi
Gonv^dzalpro~ isafter
desdidc esdict tivesidv esdicte ives sof
outside shitet shitet ^dersi
inferetvand inferetvand pucktar dividerad dividerad dividerad Laings Laings pervedimary pervedimary shuse Diderstediman Diderstediman Diderstediman i
Ament desired
A A
i.
ode CU 11.5
RET GSE amas
Per skate
AvaP
DoantigDoao ntigo aku
Pel ET VEIL VEIL FUND FUND ANZEI ANZEI
TAI ae TAX TAX
na an do can skemmskaemma
Poa
2
LE eM Tae Seiten Awe age Fae oor mae ae
Manulaturing African Proslixis Limitel
Manulaturing
Compum
37 2asatest f. ons
DE Whites Bh Sate
Wes
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SE
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ares
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atrepease
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Tautuad fete Caos pre tt ater POULT BOS Besa tasc
MU3t scree es arlerence
Tasacktane
iets ME Debate
HLA Sok
Heagwel
Beta
Investments Limsead rrserts Aider
Pandete. Meat Leneninscestes on the
dianeze boe Carner Inania Inania Imed Vee. graf rmetotures ad Sot ventiltuvei
bering an^ staven industrial bering an^ventiltuvei
Tuk. teelis deg
equijene
wats tek Vs
Main bd5 15 per cent of the oglas M
Hies Limited
of Nem lwen
POMINSE qeetpoen
3 fitae receded ad te
Sat a ant eT Mia oon ifs Bisse
HFRS ol the Cae:
Hw? at
BLil axis ae
DeT*
B Farmed culttoecisd
Sart be Tin of 3 sepdste pace
SANG edd sSatres tnd oc wectertid
the stand diman capital of Hist SIT
can HE sD SES 653 oN para detent RE
Year ended With June 17.
foal shares RT BMS
att
FS IST oe:
cachi shares of S'cerns cachi and 15
amline priktene kuzes 82
S~
at c^ch Shate uputal and toservevoodidend toservevoodidend toservevoodidend #
etn tey
per uzz
I~ ar
Gendidvad pata bikete Lawson Tarstices
Cemnediducad peta stict
ints
BEN cath aner 832759 832759 832759
3 raat
Bok Mess
ay
FIR
Te AI OT sa Shas
Sauna dado of sens~ de~ uzteholders
SN ween
Sh
Mae 37544 37544 hates ef KZ sEsazen at Dae eeerte emters ahisses et f
8 cee ens
cond rad ath toch
wtuts eh,
at 2ST See
wine zdarzs Sout serticta
sp^/nning and wine flees er Sven Pissdwale
ochact
Nad Seldon cre momin-
ONT etaTinge an add oe watongeas} stemttoet wimatacn ur Cotemtipe
WOR RES tects glint set masa.
Stok ol DerdeUiroe Aromat,
boars
WEES Trg anes Terenyd
seer
ate
eater ese egae
International International Pipe and Steel
Investments South Africa Proprietary Limited bectuteesd Taw SURE Well rz sermerite wag
+ Uetotams *Phegetat tort fens
HFrS aey
Aine r Ae richee
th.as
SSRI sH Coepetttore: et Svs
Galimas ion and Ned Intistmal
staat, Souk
Campsonataves Liminal
tEnarte,
eet Usvasstessrrte, Pected eMesbarts, Al
Meaty Haske,
aN axrad Hct Any CGospens
cee Fexttenes tt
tense pry
te
t
AAS
rete
MRM at angs
or
Cetpetitent: Latetet Saccrezges date
aSe ont Sua Atel Ate MNS
Te Elie
fw
ta NE OECD
ek Feletat co
meds Pied Sans Wott arte dr oaks
fasza
cet ef Teereicct Toi Varadorbad Caapede.
ANessde
Aneta Aneta
Capsaka qersa ete
Capsaka Greeze Greeze
Seytersantiteds
5
36
Meant sspetsd et oY
447 4 the
Ht
xf PUM fa trod: Anata
fer cert ns
Cre. Perens they Teds
Caste NUGENT eet, Beer, CT8et otal Nile tt
MeL fiese
a
Mictents in sidaatirsies
and perference disidends disidends Earnings per ordinary
thate
Daaden^'s^'vedinny Daaden^'s^'vedinny Armed puaaf
Per shizte
41SQV
Wax Hel Pdeacuee
Sav
BO Slee heA cad s ace at cag Rens
PSD s7a*
roe FTF
South African Board Milk Limited +
The cermpuam pods pete: ond toe
25 aad
secu,
paris 3 ee: ent at Michelle a Asal &
os@sesntia) ites a Sele ey Bolom SA rp
etuetaees Becrted vs beads sittlises felt fae
nrret $e
SESW Srie Chet com
|
UINGN czeine SST
Tees dete od
g Vets etadal bob Areed for
ieuad vagal KS S5T hae or cares
Rata] WASeeR
COS UTE of Scents cat ard Maen BSS etd cea
Whatepaal 2nd od RP onde Whatepaal 2nd reserves reserves surowdsiurowdiddmademsuraowddidmeade Rim25Rim250 0 ree
Contredidstad reeds
iets
i
wdc tonioees tcmgd tcmgd peeest choy
HB PTD eeu
Kinath Kinath
wey
het
SS ertigarre ond Mthae Lee
AEN ad Pecl ates thie Gtet watt weet de shea,
WS ba ole
aW abormuuke cs.
ot Sa eNTNEE wean lkg eat
arcs:
Cin times Tas
& Maz gdas
wer Bet gig:
Bale se erase
oe oetet year? :
.
ar
Died a Areeten NE
Lele Lte at wf
MCarthy Radway Limited
zoor ha grec os the Lersese PRE Fi WS
ed Mina sn ie he at EINE mA eaRtS Steegty
krupa Tanda krupa
Motoes and modeale's
Motors *Poegeatane fama, wh frets. Uninstad,
fesem Destilators Destilators lenzek Its fiz Pates
hearst. Artuced
Inmoed Inmoed and Temes
Inmoed Katered
Araziwasa ka em The soapy fas
Ibragh totais 26pated the imde mand stiere
fedisr Boe Barc Macent
ezpazi n
Comer
stiere ezpazi sibel feeee$n she Detasy Bote Sitee
* Karate NG dt
ess Dedrmetcte
MA^ Macanta Macanta
fa the
Main Hebdo PAI na weg
setigern and she ADC
Attactincts MA^ Metewcye Dhsrers: Mae Seas gee ditty
(argue
cannel BS cannel Tete!
pg pg bildungst bildungst the cannel
WSME
cannel and the
OST cet Duhting
cannel cannel Bee Sette cannel
RES the Semi e D asta 3
teete sf
sy ehar MO SaPT
ASTI wo tacs
pt a teases at tee SCOTT eee
daadkry daadkry eet peeScterae daadkry La
-Famines per ve^ inni
stare
r
Dakrids Dakrids fooddin^na fooddin^na fodin^na
Aftuasnt psig
Roo ture
ie Foe
ESNet
wredaonns
HI sivas
2h
Rage wat Riv
eet is.
3
Bye
x
as
Company South Stafford Mayer
Africa Limited
FRSC sommgazere apcetes un ore SeTbQNStratat ees
mons sextetas 2s, mons mons dues dues sextetas
Litesites Litesites South Atiken kund
Ow ORE Mak Imbat
SORES AT Bonbde eaX ee fae genet eeterend
Ara un Araraun Tac Arag^o Araraun Gongy = G2 pas Gongy aS ttt of Araraun mynd Maarctguetand add tin wert
The Tongaat Group Limited
a
a
ag
=
: ;
rT
od
os vs
Nhat Pakts
cen
MelsitHelen aPteguctats +
Mie 8 senting MEeM end SOT"
Ess) toa
end wists ist teen,
See eee a yy torr
the wemum win tecnsad 22 the teqeser::
ACTH Dad wo eA diversifat inp tigre
Not suggar umil 1964 when a diversifat dege
grep fee ate Gade
wessels BRegwsty ad ern.
wessels The grep
led the SCREEN CALUNGOTES
* oor Sons:
Bt
Property
.
.
a
_nage _nage Tempat Sugar timred ata ketoromation Industrials Limze~ i and ekstrical emeneng Tigan Imest-
fade
5 fres Moreland Fish and Feeds Ptokad~-
d Whiteheaandd SA Svens Limited da the stenpum's imesterzsimesterzisinduenimdesteruzsidndudeethe
* 265 per uera imer^'stand 50 per cens <i Huktis Cajastustier Limited a 25 per cent
Hspai Products Proprietar Limited a
TS #tes in Gypsum Hidasnes Limited and
7
% \ eS01 BECTON KI Saimed Immute
rakes 574 March 1974
:
vadinan acptel 1618870s 1618870s in 33021 556
best "ct^tipasd 44313 44313ordinary shares :
muborakdexeshinevad soms zeal and 2145a 2145a si vest
muborakdexshinevad muborakdexeshinevad muborakdexeshinevad muborakdexeshinevad muborakdexeshinevad muborakdexeshinevad sil each Sujata Sujata and reservesreserves reserves senolidated senolidated RAISIN RAISIN
Peete td
Sod ets
1973
K67 384 AU
1973 35551l 35551l
eee i perda
ae
ae Pawlet
K 853 + RI Seda
Z IZKAV RIZANAV RIZANAV
85143AAF 85143AAF 85143AAF
ZJ7ISAV ZJ7ISAV
82430 82430 82430
KAA
19K
Jew
MEY Ny was worral of Halens Cargo " with Ievemens Lonard through
=e A
ee PD et ae oe
wredteuwul
terms
steceguciye
The Union Steef Corgitation
12 South Africa Limited
polveras polveras stad marks Vervenging where bues 2001 drawn Lingid znad ust steel perafints
as org and shaninbuan andtaa gs ul nda win re
estrand safnadan Velisaster Froquietary MALTA Sal dies and ex
with a difin Dun
tues OP egetig tayo Mama egxtes 72 weccatsn Seag panas panas Richards Richards
s Bisa mix M $ 1x95948 1x95948 pm
Zabava orden
SSC Meal Meal Meal 12Vukugacktene 12Vukugacktene 12Vukugacktene W sfiares oF
weade and 12400 gedoe Ho dues ad R2-
preve preve preve preve econ midatendy, BE SED OUND,
on
^'
SE
eel we
wars
iwrt
RADAR A Fee FP
ReeTem cage
HUBSANA HUBSANA
# Fat ars RT av
_ Hv ew wanes
aN Ka yeaa
BN
ET SR AA?
-
prad pussetaget pussetaget qaqab bs as nd chextra chextra kvencies the Wuth
Atakap Kaunas
proatives telling shad he viel
chun chun
aloitus and penate fatalens
Seginin Atmaca The coazum Abus sagydas industrial
bootmotives has dickt datti and diesel Fademik
neveral diversifin~ am the mufacture ed inter
built modular leddings
-
During 1974 the vegum fulfilled its first
** expvel veder conjunctive of
TateTatweestfudBenrtitain drained an Rs See the
to Ampala and in
conjunctive math GFC
veder worth m^"lva
westfudent westfudent IA LV AC detra kums
Sot Tawan
,,Administered within the Anglo American Corporation Group
Ang^oAmerican O.F.S. Housing
Company Limited
The ovenjury provides biesing in the Orange Free
Sure five employees
zweized amjunies At
31st December 1974 the and inh inh brunes Plati
and tastels and in the denpumy zmezzad bee
The phased
camera in
Ralwars .
the
phased phased a high kad rolling wai #pendaces #pendaces
od bezl in the
Alex Holdings Limited Atkinson Oates Motors Limited Barratts Industries Limited
Border Forests Rhodesia Limited Carlton Hotels Limited
Consolidated Share Registrars Limited
C.T.Bowring C.T.Bowring and Associates Holditigs South
Africa Limited
Anglo American Properties Limited
Amejenga ham a neli dhenhad gread it imostreras
a guns fuch as to type and preciptaal kuution with
nt value in cues od Kiev azllion has aRTONS
in wenpleted tuling and deliqueris Leader LED
sintia sintia inila inila in mod mi jovd^sv^'Saah~-Atika
ing din date itike and Greyog venpleies hotels jury pages retail shaggine wagdeus and towdential and dadas spurtmacen ^ ^sisIn addtam ni
7
his land ^ eddingsand sunnslip sunnslip dockqaxes dockqaxes in the
Transvaal Transvaal and Nail and is develqing a watuliven
residomial m the first in Yeah Alta 22
Muizenberg Che
Cullinan Holdings Limited
Gallo Africa Limited
cenzur During the vez to 28th kieun 19741x 19741x
tan~ ~s^~ menaulnpunal amaging to K1575UAWE K1575UAWE K1575UAWE
-
Hall Longmoraned Company Limited
means ed ^se se at 31 feshatu seien per vend
7
JELIZNY Leven~ deredeemuf^c prestaxe sizes
Hogarths Limited
Ipcorn Limited
J.L. Clark and Company Limited
Karina Private Limited
McCarthy Holdings Limited -
~
od
Hodders Hodders
lunethe during the
cat of the peckieme dures method method June mi cafed the
inais
lunethe
od
19 tis
1979 indon^seindon^se & Joy be the cutic od ta
prekretar s~ assesGo vedeaza stazieved stazieved the
the organ fuses v"vex full pad vedam state raniano
od Middelburg Steel and Alloys Proprietary
jut
a
Limited
a
juwa na the eating mysund vadinum shazen crumb cteee ta pekee shares saten
Koelkamers jut crumb Oranje
Beperk
we ;
tod benetske benetske
benetske nyuszkum nyuszkum un mae prae d
TALETESTALETES ve~ ^zzariwame
5,6
Premier Portland Cement Company Rhodesia
Limited
ut
Rheem South Africa Proprietary Limited
Year ended 20th Feb 1974 and sau sau sau in
stizzes and HU re cake cake HeatGdeserted HeatGdeserted
JAV JAV JAV sedmiRN
HeatGdeserted HeatGdeserted
vedanan
Rhodesian Alloys Limited
Ropes and Mattings Holdings Limited
South African Nylon Spinners Proprietary
Limited
x Nadies of N^ T^ CNaci rat MU MU sover:
sema u am~-ndatneveneiiezakamulte politiker
stuztensetuztdened Salvetes cade
"
a eet seat
Witcpt adde ro rt eee
aticas Relisarse
Stewarts & Lloyds of South Africa Limited Terra Chemicals Enternational Inc. The Ridgeway Hotel Limited
Item Item balakza balakza
defenses Kom first master master
First manigar kvarja
defenses defenses
Urskeradiazza Urskeradiazza
XI sebaxx 4836x1.6 4836x1.6
35376 35376 *
The Rhodesian Iron and Steel Company Limited The Rhodesian Milling Company Limited
Zambia Breweries Limited
Moriturve Moriturve ed times .
Moriturve Moriturve in~ a
KMANCKIES
Haw S cant of Extent Eee ngs
Bren cent et aitilatat
Kev Td tavar
ITs
8% EK eas
mers
fen erasae
:
ssp ates
.
. .
BE wars ues
ccredited ccredited
per chi
Set qate aces ital
Se |OUR
CUTE^ ZASK 104 2016
lagia
Fagin Meketeys Zee hacen
SOT Bb tai ares, Wace fear
Sb Viewicza Viewicza
Bog sss cue
4 BEER NET aves
' ga
pact
Union Carriage and Wagon Company
Proprietary s Limited The cogizen os cea Deo scnade sagan ef Ladue
wilt
OB te ue ge
wee He fe ae ae
Other
200 MAN n~ deg tangan tangan
125i SOOV B stures i4 RI each were demented to
ny s^/urevi~RI cach
BANKING AND TRUST COMPANIES
.
Year ended Beth June 1974
Carlton Centre Limited
This conjurers asums the Chiba torte in the ver
L^'umuostungL^'umuostung Ksiness distract of
This cemples which
for it the finge weimercial building develop
moves in the well well engines a Visores office tonUCT
dejurimen a Batstores innernacul rtel titis unaruskal- Mech Zymamach lestretail lestretail says
sares hoe funk and uncal jurling Indaies See 2001
atu
Year endaf both June 1974
Twadd sure ozp^"tal RILISIBLY RILISIBLY RILISIBLY in 28 eve eve vedina duzzowa~ Sellers
Baan pada Ritwau Ritwau & per ura fund
swetcape LOEZAN^ E Adwetares 1v M... h
puid jet Kiowa
le sued metgear
tutes 1977/2001 1977/2001 teff pund
fen-
1471
1971
vedi- Issand share capital 122 255 in 21 731 71 % nav stures of R1 cach 500m vedinun deferredE deferredE shares of RI can 136976 ordinary deferred C
s szres n^ Ri cach and 558 Seal ve^ inarydeserted Dishzroved Dishzroved R1 cache
Shate caputal and reserve foresodilated Rot 726 ku
Land ledding
Mugs and
o
Genindz el cosas Genindzzel
Genindzzel penda
luzioa Genindzzel
luzioa luzioa
Crawdadza~ pro~ a
Efter avstanes avstanes and
det t^mendet t^men od manocity
Suschiders inferesis
Did Did puid
WTS
\
\,.
RW
1973 INTION INTION
2346200 32400
Zs Ketan 21-78XXX 21-78XXX
120000 R1 8370
Administered outside the
Anglo American Corporation Group
Nedbank and Syfrets Holdings Limited
( The wegam Nedsazhi is busting and inanal
servius ho~ dingwagum Nabual was etkfl
zva
b^tucem and result of the merger
difters
UAL H^/dag
Limca Syria Neffun^Limited and Neffin Limted
which was elative tree Is Aster 1973. Safrasi
amuned 2nd Hoddings ma^-ed 19:25 in tuin texted during the tast half od 1975
though the merger of The Sifret and Swath Atran
Insa Genjanies
UAL
1021 ended Kath September 1974
< Issued capital 265433 265433 334 in 85 seda n^/h paral shares of RI cach 16731W Sures of RI cas 3 cents puzad and 2-74102 2-74102 shazzes Re Re Dacre paid
Rossi value faxex
JVICES JVICES
Opwactisg pedis thea Cvenudati Cvenudati Bane
27985314 27985314 KI Tas
:
ETATAV RAW RAW RAW
Persze Persze
Se
11.75
The Soquutie figures or the exc^nten sponzky
peridoned peridoned link Jan 1
share capital and toenses fones didzzed R 388AL
Commodified Commodified
197
**
-y RET ID ew ane Relea |
tvGvew tensor
Tawi
Cet and howe eter munens munens and defactored defactored defactored
munens sized
tetas
Accxumalaretkom Accxumalaretkom
RAHIMA RAHIMA
Reatoval
K209410 HAV
EN REPAR Hav Hav
... ... ...... ... ... ... 565.87
McCarthy
Amaprop McCarthy Investments Limited
Anmercosa Land and Estates Limited
Anglo American Property Leasing Limited
Bay Passage Investments Limited
...
Bryanston Hobart Shopping Centre Proprietary Limited
Marina da Gama Limited
CLiambiatnead Beach Development Proprietary
Man~-nada Gama the tinst tesidenzial marina deve^ga ment in Altima stali vengtise a n^tertzen
niending inet and teamship rev hectares
perm^ling5 500hrases
and flits see an estimated 150 pavelde Salvot to the
CL.iDm.iLt.edProperties Durban Proprietary
Charter Properties Private Limited
saxcess~ al vezuvene of expcizios nith the Verztal Game Sve a ve n^^thie intended verpiens Gates an aseza hartsen liniad thugh a depmates channel and fecalismens to Labe flay providing tall meding and servicing islaties be ones but nezn
pung tatatives fouts and bon further 100 bags 671 a faini nem tadil water areas in Ishode Ishode odune odune with crony boemes set amend the faims and land-
scapad parks and henes around Senhki an infant he The ting jazden n^ bass and p^"esin the Eastlake village DEMENad in Augat 1971
Creative Homes Limited
:
Crescent Developments Proprietary Limited
Exchange Buildings Proprietary Limited
Isipingo Property Investments Limited
, Kenilworth Centre Proprietary Limited La Liscia Property Investments Limited
2.
Land Orange Free State
Proprie Limited
and
Estate
Company
Sabel Developments iProprietary Limited
Commodified Commodified prenda after
La Ladd and deshuactice deshuactice <
ra
.
medki s uzekwdiers
ITECTONS
Earnings per share Daidenh
223 315 wre
EZE STAN STAN 285,
; Amount paid
shante 2
RELATE
:
in
zr THe ete
The Corporatav fitures je 1971.cover 1971.cover the sont morph
perind konk September 1973
Bahamas International Trust Company Limited Banco Standard de Mocambique 5.A.R.L. Banco Standard de Angola S.A.R.L. Barclays National Bank Limited
British and Rhodesian Discount House Limised
Cayman International Trust Company Limited Compagnie Financi^rede Paris et des Pays
Founders Building Society
National Finance Corporation of South Africa bs
Rhodesian Acceptances Holdings Limited ' Standard Bank Investment Corporation Limited
Sotec Limitaf
wen ^- po etmotzari venjum and through K S SZ~ MA~ AZZw y mjunas has interests commerce residential sest roshnije znad industrial
industrial developements developements Thx vempum voeten in vesztal vids gagwric Ays maken maken dute Peticia and
Che lisan md at feth Jung 1974
agitod fauldings is a fufa t acvunum had b`majod estatuna envas
estatuna Tad n^ sims4 ZSA ZSA
spake mettes v^' ~ koSIMC
+ Se muttes of retailing space and 17000
kesand kesand rosaki
six L^ XITUA
During the veat The MIN
KILICIsed KILICIsed as resaletilkamasives resaletilkamasives KE STW deterred
the
KILICIsed X
awaad vedasani starte ispaol ke
resaletilkamasives
resaletilkamasives
shares of Kt caddie Sav Sav
cad ie Sav cathed vedin des ot El cathed cathed
cathed 76
cathed vodman shares et XI cacti q^hakerid ytay o
27th Met5x Met5x Met5x fast deferred OP shiptes de Ri
cab mete zvand un a premium 15 Terms state sa
cabine beti beti
Vuystkich Vuystkich Vuystkich and
Vuystkich a
Mgurfus 70 Senphoas 3642a1 3642a1 aupant von
La Max ** humnal
Mgurfus WJDev Os 14 h^get
Administered outside the
Anglo American Corporation Group
Main Holdings Limited
The Discount Housoef South Africa Limited
PROSPECTING
Administered within the Anglo American Corporation Group Anglo American Prospecting Company Limited
ALinmgiltoedAmerican Prospecting Company South
oe
* Anglo American Prospecting Services Proprietary Limited Anmer Canadian Exploration Limited
Limites Australian Anglo American Searches
Australian Anglo American Ventures Limba Kalfrarian Metal Holdings Proprietary Lim
Prospecting Ventures Limised
86
b
Southridge Limited
Swakop Exploration Proprietary Limited
Tuli Exploration Proprietary Limited
o
Valley Exploration and Mining Company
me Limited
:
Zamangio Exploration Limited
Administered outside the
Anglo American Corporation Group
Baffinland Iron Mines Limited
Cape Verde Proprietary Limited
Syndicat de Recheres de Andriamena
Anglo American Gold Development CompanyCompany
Limited
Anglo American International U.K. Limited
Anglo American International Services Proprietary Limited Anglo American Rhodesian Services Limited
Anglo Botswana Services Proprietary Limited
Anglo Charter International Services Limited
~
Anmercosa Computer Services Limited Anmercosa Sales Limited
Anmersales A.G.
Australian Anglo American Services Limited
GENERAL INVESTMENT
Administered within the
Anglo American Corporation Group
Anseld Canada Limited Compagnie Finansiere Eurafricaine
Epoch Investments Limited
_' Euranglo Proprietary Limited
Lydenburg Holdings Limited
Administered outside the
Anglo American Corporation Group
First Union General Investment Trust Limited
SUNDRY COMPANIES
Administered within the
Anglo American Corporation Group
Anglo American Rhodesian Development
Corporation Limited sangam's man vatie ed income is the hiring st
thing
sivaku veiginally purchased de 15,5 millions
7 -vades^tn- vades^tn^ze the Rhodesia RazRam zmassaunsdesr long term
Win senempemeris in alizim i aleisters as
theponderis vyvrning daniens the Mane Cientis
Qui^-as near Kala~ unza sz^stantial bocestry estates
the fasten Had aHand an^^
Inter Mine Services O.F.S.
-Proprietary Limited
and to Kapuna Kapuna kopplas serves
ode Amman Gerventie
materia celrtsain Grep p^my
angulis 13 the Orange Free Suce and the
fateead See See See fommad ba the
rand KUTINATION
Anglo American Corporation Central Africa
Irmined
Manajement
Anglo American
Kukes A.G.
Corporation
Manajement
and
Anglo Americar Corporation Services Limited
iste,
Rates
amtig.
bbe
Statutory and other information
has
ta Special resolutions passed by subsidiary companies
ANGIO AMERICAN CORPORA^ ON CENTRAL AFRICAHMITED
29.11.74
Amadoxne Amadoxne to attaches of zawojazl^ves
and v~ a directoes directoes apysema arrigansering arrigansering to
apysema and to
Strmine the remunerata duties
minigdiriecton r dirgector
bale bale numbering numbering artim danes in the
antideest veniatives veniatives
ANGIO AMERICAN PROPERTY
LEASING LIMITED
22.7.74
Changeod name themeh Armerosa
Teming Proprietzsy Limoedi
de Gerpuny cemented from a
public
zetoz zetoz
overjum
ANGLO AMERICAN PROSPECTING
COMPANY LIMITED
.
13.974
Ateniment to drticles drticles 297 ^zt~ vato eunjasart to MO eunjasart directodreasl with preeminemA
shttes which azone between 1.53 kind
31.1271
ANGIO AMERICAN PROSPECTING
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4
annual reports and accounts of quoted companies associated with
the Corporatimoayn obtain them upon application the Managing Secretary or to the Joint London Corpoof trheaCotrpi oraotin on
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Csehcarnegteasrieosf address should be notifiedto the Corporation's transfer
CONSOLIDATED SHARE REGISTRARS LIMITED
62. MARSHALL STREET JOHANNESBURG 2011
7BOX 61841MARSHALETOWN MARSHALETOWN 2107 :
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CONSOLIDATEDLIMITED CHARTER
P0.20X30.183 P0.20X30.183 P0.20X30.183 P0.20X30.183
:
CHARTER HOUSE
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PARK SYRIET ASKIOLD
. KEN7 1824 ENGLAND