Southern African Mining Interests in Australia Before 1939

South Africa's mining industry moved rapidly from being a mere recipient of capital investment to being a channel through which capital found its way elsewhere, then to generating surplus capital for investment in mining activity throughout the world. Early capital flows were regional; by the time Transvaal gold mining was firmly established, for example, Albert Ochs, a relatively little-known Transvaal mining speculator with the dubious distinction of being cordially detested by Cecil Rhodes, had already expanded his interests into Mozambique. On this basis he was able to serve as an intermediary between Robert Williams and King Leopold of the Belgians in the early development of Katanga's copper deposits. ¹ Ochs was one of a number of people financially based in South Africa who became heavily involved in Mozambique, while the British South Africa Co., itself supported initially by Rhodes's Kimberley diamond and Transvaal gold interests, was a major investor in Mozambique railway and port development. ² South African-based businessmen were largely responsible for the early attempts to develop the economy of German Southwest Africa, while even some of the nominally German companies operating there were in fact more South African/British than German. ³