OIL FROM BRAZIL
Important Agreements Concluded WASHINGTON. March 3. The United States and Brazil have signed three important agreements designed to increase Brazilian production of strategic war materials and aid Brazil’s defence against the Axis. The agreements provide for: (1) The formation of an Amazon Basin Development Company chiefly to increase the production of rubber, bauxite, vegetable oils and drugs; (2) lend and lease to strengthen Brazil's navy and army; (3) earmarking 14,000.000 dollars for the completion of the Victoria Mines railroad, tapping one of the richest iron ore deposits in the world. Lord Halifax i British Ambassador) was one of the signatories to the iron ore development agreement. The loan will be paid from iron ore sales made to the Metal Reserve Company and the British Government.
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Bibliographic details
Timaru Herald, Volume CLI, Issue 22214, 6 March 1942, Page 5
Word Count
128OIL FROM BRAZIL Timaru Herald, Volume CLI, Issue 22214, 6 March 1942, Page 5
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