A measure offering huge chunks of the Amazon jungle to timber companies that comply with tough restrictions has been approved by the Brazil’s president. The measure is claimed to be aimed at preserving the world’s largest rain forest.
The law is signed by President Luiz Inacio Lula da Silva. And under it, the government will tender 40-year contracts allowing the highest bidder to log trees under a sustainable development plan. Private Brazilian companies will be able to access some 32 million acres, or 3 percent of the Amazon rain forest. According to government officials, the law is aimed at undermining more destructive wildcat timber companies.