Word: orinoco
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...Italy's midget-car giant, Fiat. It was Innocenti's second big challenge to Fiat. The first he won handily. He maneuvered Fiat out of its share of a joint Fiat-Innocenti contract to build a $342 million Venezuelan mine-to-mill steel complex on the Orinoco River to exploit a nearby mountain of high-grade (up to 60%) ore. Innocenti left Italy a year ago, planned to spend a few days looking into the Venezuelan prospects. The more he looked the better he liked what he saw; after five months he told the Venezuelan government that...
...also planned two new communities in the Orinoco Valley of Venezuela for U.S. Steel, and is now working on a master plan for Havana and the new Presidential Palace in that city...
Inland from Venezuela's Caribbean coast some 200 miles, the swift, black Caroni River plunges into the chocolate-colored Orinoco. Southward from this junction of two mighty streams lie jungles and sandy scrublands studded with low, reddish mountains. This poor-looking expanse is one of the world's great storehouses of iron. West of the Caroni looms Cerro Bolivar, blanketed with 500 million tons of high-grade ore. Farther west lies another iron mountain, El Trueno, endowed with 150 million tons. On the other side of the Caroni. Bethlehem Steel Corp. gathers up 3,000,000 tons...
...iron riches lay virtually untouched until 1950. when a Bethlehem Steel Corp. subsidiary began mining El Pao. The ore traveled by rail to the Orinoco, then by shallow-draft vessel to deep-water Puerto de Hierro (Iron Port). In early 1954, a U.S. Steel Corp. subsidiary, Orinoco Mining Co., sent its first load of Cerro Bolivar ore down the river. Orinoco Mining has spent $230 million on its Cerro Bolivar mine and the installations that go with it: a trim little company town near the base of the mountain; a river port (Puerto Ordaz); 90 miles of railroad...
Died. Dr. Alexander Hamilton Rice, 80, explorer, scientist, physician, millionaire socialite (left $5,000,000 in trust by his first wife, the former Eleanor Elkins Widener) and sometime cannibal fighter, who mapped 500,000 sq. mi. of Amazon and Orinoco River territory; at his summer home in Newport...