Americans Leigh S.J. Hunt and J. Sloat Fasset formed Oriental Consolidated Mining Company and bought Korean Mining and Development Company in May 18, 1898. The Oriental Consolidated Mining Company owned 10 gold pits in Unsan, Pyongan-pukto. Taracol was one of the pits in Unsan Gold Mine. Unsan previously was a small village with only a few households, but it evolved into a very different place through the mining business association with the American entrepreneurs. Between 1903 and 1938 the annual profit from the gold mining reached more than $12,000,000, but the backward Korean Royal government sold the Korean Mining and Development Company for only $100, 000. Had the Korean government not sold the mining owning right for a lump-sum payment, it could have achieved a price as high as $3,000,000. The mining by the Americans continued until they were forced to relinquish operations to the Japanese in 1939 Source: Yi, Pae-yong. Ku Hanmal kwangsan ikwon kwa yolgang, 1984. Chapter 2.
Inscription/Marks: Inscribed in pencil on verso: 'Constructing the Taracol 80 stamp mill.'
Identifier: 1260.63.38.12
Persistent URI: http://hdl.handle.net/1813.001/5xqg
Americans Leigh S.J. Hunt and J. Sloat Fasset formed Oriental Consolidated Mining Company and bought Korean Mining and Development Company in May 18, 1898. The Oriental Consolidated Mining Company owned 10 gold pits in Unsan, Pyongan-pukto. Taracol was one of the pits in Unsan Gold Mine. Unsan previously was a small village with only a few households, but it evolved into a very different place through the mining business association with the American entrepreneurs. Between 1903 and 1938 the annual profit from the gold mining reached more than $12,000,000, but the backward Korean Royal government sold the Korean Mining and Development Company for only $100, 000. Had the Korean government not sold the mining owning right for a lump-sum payment, it could have achieved a price as high as $3,000,000. The mining by the Americans continued until they were forced to relinquish operations to the Japanese in 1939 Source: Yi, Pae-yong. Ku Hanmal kwangsan ikwon kwa yolgang, 1984. Hapter 2.
Inscription/Marks: Inscribed in pencil on verso: 'Taracol camp.'
Identifier: 1260.63.38.11
Persistent URI: http://hdl.handle.net/1813.001/5xqf
