“Taranaki Central Press” SATURDAY, JUNE 19, 1937. SPANISH MINERALS

Taranaki Central Press, Volume IV, Issue 451, 19 June 1937, Page 4

“Taranaki Central Press” SATURDAY, JUNE 19, 1937. SPANISH MINERALS

The importance of Bilbao, which, according to to-day s messages, is now to all intents and purposes in the hands of the Spanish insurgents, has not been made apparent in the cable messages. The real prize in this war on the Basques is the possession of the rich and extensive deposits of iron ore.

By commandeering the output of the southern mines General Franco has been able to establish credits in Germany and Italy, and there is no doubt that the sale of minerals is at present the main source of his finance. In the Huelva, Rio Tinto and western Cordoba areas the deposits of iron, manganese, lead, copper and sulphur have passed under the control of the insurgents.

As soon as the occupation of the northern aren is complete General Franco will presumably resume his attacks in the Cordoba sector with the Almaden mercury deposits and the Linares and Jaen lead mines as objectives. The importance of the mines to the insurgents is obviously great. In December 37,000 tons of Spanish iron ores were Sold to Germany, but in January the quantity rose over 200,000 tons. Copper, pyrites and sulphur from the British-owned mines of Rio Tinto have been requisitioned and sold to Germany and Italy.

Britain is extensively interested in Spanish mines and a good deal of capital is invested in the area about Bilbao. Apart from political considerations, Germany and Italy have sound reasons for backing General Franco, because his success will assure them supplies of minerals and especially of iron ores for their steel industries, which, according to the “Economist,” have been suffering from a serious shortage.

Italy is always in need of the so-called strategic minerals, and it is said that part of the price of her support of General F ranco is an undetaking to give her access to the output of the Spanish mines. Britain normally takes about a million tons of high-grade iron ores from Spain every year.