TEL AVIV (Dec. 15)
New iron ore deposits have been discovered in Upper Galilee, Dr. Dov Joseph, Minister in charge of development, reported today at the weekly meeting of the Industrial and Commercial Club of Tel Aviv.
Dr. Joseph revealed that an iron and steel industry, using Negev ores as raw materials, will soon be started and will be in operation within two or three years. He said that one of the purposes of this industry will be the manufacture of defense materials. He estimated that when iron and steel production is fully under way, Israel will save some $2,500,000 annually in foreign exchanger.
The Minister reported that equipment needed for iron, copper and bromide manufacturing plants have already been ordered. Some of this plant and machihery will come from Germany under the terms of the Luxemburg reparations pact. He stressed the importance of Israel’s rapidly developing phosphate-producing industry and spoke hopefully of the expanding production of potash and other products at the Dead Sea plant.