Boom In New Caledonia’S Metals
pp. 19-20 · Read in the full issue
Interesting Analysis of French Colony’s Trade
From Our Own Correspondent
Noumea, June 1.
WAR, and the threat of war, have added much value to certain metals, and New Caledonia—the French South Pacific colony with huge reserves of nickel and chrome —is boom ing.
It is reported from Paris, where the famous Nickel Company has its head quarters, that the Company has increased its capital from 708 million francs to 984 million francs, by the incorporation of a special reserve and revaluation of certain assets.
One of Australia’s most able reporters, Osmar White, of the Melbourne Herald, who has been recently in New Caledonia and New Hebrides, has vividly described the mining boom in Noumea, and the activities thereabouts of “poker-faced strangers engineers, metallurgists, chemists, technicians, concession buyers.”
White points out that, while New Caledonia, because of its isolation, is at a disadvantage with Turkey, Baluchistan and Yugoslavia as a source of chrome, World War 111 might cut off all those other supplies whereupon the Caledonian chrome would become exceedingly . valu able. Speculators are gambling on that.
It is also reported that French, American and Australian companies are getting deeply interested in New Cale donia’s deposits of tungsten and cobalt ■ Most of the colony’s landowners .are dreaming dreams of millions.
THE following figures, in millions of Pacific francs, show the value of the traffic between the French Pacific colony of New Caledonia, and the three countries with which it mainly trades: — With France In 1943-44, the Colony did no trade with France. But by 1946, the total trade was back to 213,421,000 francs; and in the following years the figures have been —1948, 358,336,000; 1949, 548,427,000; and 1950, 679,913,000 francs.
THE principal imports from the USA were machines and motor cars and chassis, spare parts, ironware, shoes, cloth, wearing apparel and lingerie, timber, chemical goods, oil, tobacco, tinned fish and whisky.
From Australia, New Caledonia bought oil, flour, rice, sugar, potatoes, milk, cement, leather goods, clothing, hardware.
Other essential foodstuffs came from French possessions—rice from Indo-China and wine from Algeria.
As usual, minerals formed the over whelming bulk of exports. The tonnage of nickel bought (exclusively) by France increased from 3,950 tons in 1949 to 5,790 in 1950, and the value from 159,778,000 to 234,590,000 Pacific francs. With so much stockpiling going on, the price of this metal has risen considerably and the
demand is very active. Thus, once again, war and stockpiling for war are saving the colony's financial situation.
Chrome, also in stockpiling demand, dropped from 102,914 tons of ore in 1949, worth 146,062,000 francs, to 73,867 tons in 1950, valued at 122,267,000 francs. The bulk of the chrome (52,100 tons) went to
USA; but Prance took 5,750 tons; Norway 9,134; Sweden 4,470; and Australia 2,414 tons.
A trial shipment of 7,895 tons of iron ore was also sent to the Broken Hill plant at Newcastle, NSW; and 690 tons of gio bertite ore reached Australia in 1950.
Of non-mineral exports, 1950 saw 181 tons of canned meat; 278 tons of cattle and 37 tons of cattle and deer hides (mostly to Australia); 434 tons of trochus; 2,664 tons of copra; and 1,663 tons of coffee were sent overseas last year.
Between April and June a total of five ships were expected to load 33,300 tons
Hjfj
With USA Exports Imports 1943 .. . . . . 212,632,000 82,423,000 1945 .. . . . . 139,212,000 208,460,000 1947 .. . . . . 24,145,000 191,347,000 1949 .. .. . . 103,500,000 222,666,000 1950 .. . . . . 80,575,000 157,098,000 With Australia Exports Imports 1943 .. .. . . 21,326,000 195,355,000 1945 .. .. .. 5,638,000 207,694,000 1947 .. .. .. 17,142,000 204,973,000 1949 . . .. .. 14,411,000 132,707,000 1950 .. .. .. 12,757,000 200,283,000
of ore (of which 26,500 tons will be chrome) for the Tiebaghi Company. The bulk of the chrome is for the United States.
Quantity and value of New Caledonian exports of trochus, copra and coffee in recent years, including 1950, have been as follows:
1946 ..
Trochus
Quantity (tons) Value (fr.) .. .. 1,221 20,227,000 1947 . . • • • . 1,177 19,120,000 1948 . . ... 464 8,379,000 1949 . . •• .. 391 6,699,000 1950 . . ... 434 6,665,000 1945 . .
Copra
.. .. 1,249 3,000,000 1946 . . ... 403 1,077,000 1947 . . ... 828 6,617,000 1948 .. •. .. 1,569 22,565,000 1949 . . • • ■. 1,855 26,643,000 1950 . . •. .. 1,765 27,308,000 1945 .
Coffee
... 483 4,552,000 1946 .. ... 925 18,739,000 1947 .. .. .. 1,224 34,418,000 1948 . . ... 919 28,714,000 1949 . . ... 815 32,710,000 1950 .. .. .. 1,663 78,837,000