IRON ORE FOR ITALY

Dominion, Volume 13, Issue 69, 15 December 1919, Page 9

IRON ORE FOR ITALY

AN IMPORTANT STEP TAKEN. (Rec. December M, 5.5 p.iu.) London, December 12. The "Dailv Chronicle's" Milan correspondent states that for the purpose of freeimr Italy from dependence on the foreigner for iron ore, Italy has acquired the Austrian inininp company of the Alpine Montan Gesselschnft, and foundries at Mouuterzerberg. in Styria. It is estimated that these foundries alono can nrodu'.e a million tons of steel annually, and it is estimated that the mines can bo worked for two hundred years. It is hoped that within a year Italv will not require to import iron ore —Aus.-N.Z. Cable Assn. AUSTRIA .ALSO MOVING. (Rec. December 14, 5.5 p.m.) Paris, December 12 Dr. Rentier, the Austrian Chancellor, and a party of business experts who are in Paris seeking to raise capital to restart Austrian industries, are believed to be. negotiating with a Franco-American syndicate for the snlc of the Danubian fleet, and the Austrian State railways for •tlie sum of ,£,1,G00,000,T00. They point out that Austria, has vast resources of iron ore in the Duchy of Styria, .where there are also clever workmen and intact factories. There a''e also excellent, markets in Hungary nnd Jugo-Slnvia, but it. is impossible to develop resources owing to lack of capital to work the raw ma-terial.—Aus.-N.Z. Cable Aesii.