Word: timber
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During a 1954 visit to Peking, Khrushchev and his colleagues proposed that Chinese workers be sent to Siberia to help exploit its vast timber resources...
...nearly a decade, Japan and the Soviet Union have been mired in desultory negotiations over joint development of the vast natural resources of Siberia. The Japanese need the oil, natural gas, coal and timber that the Russians offer and have plenty of hard currency to invest in extracting it. The Soviets need the cash, and Russian leaders from the time of the czars have been eager to develop that frozen wilderness. But the two parties have differed on just about every detail, from interest rates to what should be developed first...
Last week the odd couple finally agreed to agree-maybe. Japan will lend $1.05 billion to the Soviet Union so that work can begin on three major projects: mining coal in southern Yakutia, prospecting for natural gas in northern Yakutia, and harvesting timber in the Soviet Far East. The Russians will repay the loan in hard currency at 6.375% interest over the next 16 years. Four-fifths of the loan must be used by the Soviets to purchase Japanese mining and lumbering equipment. Once the projects get rolling, the Soviet Union will supply Japan with coal at prevailing world market...
Three of the U.S. states in between, Wyoming, Montana and North Dakota, contain the bulk of the nation's coal reserves. In addition, Burlington Northern owns 2.4 million acres of timber and farm land in the Great Plains states and has mineral rights to another 6.1 million acres. Those rights, granted by Congress and state legislatures in the 19th century, have endowed the railroad with coal reserves of some 11 billion tons, or about 18 times more than all the coal mined last year...
Officials expect to spend at least $139 million this year to buy new rail equipment and expand the line's timber and mining operations. Coal-hauling revenues are expected to jump by at least 27%. B.N. officers announced last week that they are planning commercial and residential real estate developments for as many as 23 company-owned tracts in various cities and suburbs, including a half-billion-dollar "new town" complex along the Mississippi River in Minneapolis...