Word: cerro
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...weeks ago a highland district reform commissioner suddenly declared afectada (destined for expropriation) one of the most efficient ranch operations in the country: 440,000 acres owned by Cerro de Pasco Co., Peru's copper giant. Cerro officials reacted first with disbelief, then outrage when government officials refused to reconsider. In bypassing scores of marginally operated highland estates, said Cerro, the government had violated the spirit, if not the precise letter, of its own law. The company pointed out that its sheep produce three times as much meat as the neighboring Indian herds; furthermore, it ran the ranch...
...have revised their investment plans to include new facilities in Latin America, including Dow Chemical, General Motors and Chrysler, all of which are building large new plants. U.S. Steel, Union Carbide and Alcoa are considering multimillion-dollar expansions there. Chile's government has persuaded its U.S. copper companies-Cerro de Pasco, Kennecott and Anaconda-to invest $410 million by 1970. Venezuela has done such an effective job of mopping up its Communists that Jersey Standard's Creole and other oil companies, which transferred more than $100 million out of the country in 1962 and 1963, are pumping capital...
...bulk of the mining are in the mood to expand. Marcona Mining Co. plans to triple the capacity of its $20 million iron-ore pelletizing plant on Peru's southern coast; Southern Peru Copper Corp. is investing $16 million for improvements; and the king of the mountain, Cerro de Pasco Corp., has just earmarked $18 million to expand its $270 million mining complex. Next month General Motors will open a $5,000,000 assembly plant outside Lima, the first of 15 automakers, including Chrysler and Ford, that intend to settle in Peru...
Petersen is currently chief geologist with the Cerro de Pasco Corporation and has written extensively on the Andes in Peru, Bolivia, and Chile...
...government has yet to catch up with him. Communist-organized trade unionists and students have staged riots, and Red agitators work to turn relatively peaceful strikes into bloody free-for-alls. Striking miners recently burned and sacked a lead and zinc complex belonging to the U.S.-owned Cerro de Pasco Corp., causing $4,000,000 damage...