Word: chileanizing
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...based multinational companies have long since written off as dead losses the Chilean operations that were expropriated by the late Marxist President Salvador Allende. But last week the new Chilean Foreign Minister, Ismael Huerta, announced at the U.N. that the military junta that overthrew Allende in a bloody coup last month has reopened negotiations with Anaconda and Kennecott with a view toward paying them something for those giant copper mines -Anaconda's Chuquicamata and Kennecott's El Teniente-that Allende expropriated. Some other members of the Chilean U.N. mission even dropped hints that Anaconda and Kennecott might actually...
...Chileans further stressed that they have no thought of returning ownership of the mines to the American companies. Indeed, they said, the matter of compensation itself must eventually be decided by the Chilean courts. But they asserted that the new government believes that Allende made an improper calculation of the compensation due. When their properties were taken over, Anaconda estimated its losses at $462 million; Kennecott calculated $365 million. But Allende figured that "excess profits" earned in the past left the companies owing money to Chile...
Behind the diplomatic negotiations, the outlines of a hard, realistic deal emerged. Chile has only one potential source for paying Anaconda and Kennecott anything: profits from the mines. But Chilean members of the U.N. mission admitted that in order to get the bogged-down mines running well again, the nation desperately needs foreign technology and expertise, and is willing to get it from the U.S. The clear implication: Anaconda and Kennecott might come back and run the mines on behalf of the Chilean government and be paid for their former ownership out of the profits that they make for Chile...
Approximately 50 members of Non-Intervention in Chile (NICH), marched into the IAPA meeting to protest the presence of publishers of Chilean newspapers El Mercurio and La Tribuna, which the group labelled pro-junta...
...protesters, who entered the IAPA meeting chanting Chilean liberation slogans, encountered no resistance form hotel guards of IAPA members. One Cuban member, however, shouted "Go to Cuba" in Spanish to NICH members...