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“Prospects for this mine are extremely dismal; business will be finished here soon,” said Kageji Washio in his introductory remarks after accepting the top management position of the Besshi Copper Mine in October 1927. The grade of ore coming out of the mine had been near 4.5% in 1905, but by 1927 had fallen unfortunately to 2.7%. Since the start of mining at Besshi over two centuries earlier, in 1691, the mine had brought prosperity, and Washio’s sudden pronouncement came as a shock not only to Sumitomo, but also to the surrounding community that the mine supported.
He added, “But even though mining here will soon come to an end, to reward the long years of contributions this community has made toward our efforts here, we must begin to take steps to establish a new source of prosperity that will remain after the mine closes.”
The solution was to make the local machinery-manufacturing operations an independent company. |
