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$50,000,000 Yearly Income from Mining Predicted for Israel

October 8, 1953
See Original Daily Bulletin From This Date

Within the next six to seven years, Israel’s income from various mining enterprises will reach about $50,000,000 annually, and this will alter the country’s present financial picture, Dr. Dov Joseph, Minister of Development, told a meeting in Rehovot. He revealed that deposits of iron are had been found in Galilee, and said that the 1954 output of potash will be double that of this year.

Dr. Joseph also said that a plant for the production of bromides is under way, as well as a factory to improve the quality of Israel phosphates, which would convert Israel’s phosphates into one of the world’s best. Israel at present produces sufficient phosphates to meet the local demand. The Israel Minister reported estimates that two Negev copper mines contain 300,000-400,000 tons of pure copper.

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