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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jan 01, 1970
Page
15
Fragmentary text shows scattered figures on base metals and a few prices. It mentions metals like nickel and copper with marginal changes and a warning about serum prices. No coherent events, entities, or dates are extractable for a reliable summary.
The IMF announced it would purchase South African gold if the market price fell to or below 834 per ounce, with South Africa allowed to offer sales to satisfy its current account. The move aimed to stabilize the two tier system and support global monetary stability amid uncertain demand.
An unclear report outlines proposed IMF quota increases for major economies, including the United States and Norway, as part of a five year review. It notes rising minimum contributions and overall reallocation, with concerns about relative power shifts and resistance from some executive directors.
Sir John William chair man of Herald and Weekly Times Ltd may retire soon as board to be relieved. Wapet announces drill results in West Australian area near Dongman and Mangrove area, with 1964 timing for potential commercial oil discovery after tests at No.7 well. Company plans to spend proceeds on production and regional development as exploration continues.
All Australian mock exchanges will be closed today and during the New Year holidays. After a Christmas break Sydney Melbourne and Brisbane exchanges traded on December 29 30 31. Adelaide Perth and Hobart remained closed over the period separating Christmas and New Year holidays.
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