VICTORIA. LONDON. Ordinary Shares of £1. black on pink paper. No 189. Folds and some edge-damage. Founded by Australian entrepreneurs to mine copper on the Astrolabe field near Port Moresby, Papua New Guinea. They dreamed of establishing a major industrial complex but the project was only partly accomplished. It failed in1926 due to an intractable ore and a stagnating copper price. This was a catastrophe for the small Territory of Papua (part of Australia until 1975), as the project employed 100 expatriates and 1000 Papuans.
Themes: MINES (no gold, silver, coal)
AUSTRALIA, GREAT BRITAIN, PAPUA NEW-GUINEA
Date: 5 January 1923
Startprice: € 30