Word: chileanizing
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...planned to be back in Rio for a state visit by Argentina's Pedro Aramburu, but engine trouble delayed them in Peru, and bad weather stalled them in Santiago, Chile. Chile's Carlos Ibanez, however, was not on hand to greet them; on his way home the Chilean President had 1) run across Ecuador's Jose Maria Velasco Ibarra at the Guayaquil airport and dawdled over a glass of champagne, and 2) landed at Lima for a chat with ailing Manuel Odria, Peru's outgoing President...
...stern, upright and tempestuous. The son of a wealthy landowner, he early learned to sit a horse and boss his father's peons. The landowning politicians of Chile's 19th century- Conservatives who disputed for power with equally conservative Liberals- molded his beliefs to the right. The Chilean cavalry gave him a passion for humorless order; Chileans say that once, for reasons of pure esthetic tidiness, he made a tall clarinetist in a military band trade instruments with a short trombonist...
COPPER PRICES are floating down from their ceiling. After long strikes last year which cut supplies by 150,000 tons and pushed prices up some 60% to a peak 55? a lb. for U.S. custom-smelted copper, U.S., Chilean and African mines are finally starting to catch up. Result: prices in the world (i.e., London) market last week tumbled nearly...
COPPER SHORTAGE in the U.S. will be eased by Anaconda-at a price. From now on it will price its Chilean copper, which has been selling for 46? in the U.S., at the London level (53? last week). Anaconda, which has been shipping two-thirds of its Chilean output to Europe, expects to sell more in, the U.S. when the price is equalized. The Office of Defense Mobilization is also easing the shortage by postponing shipments of 36,000 tons of copper earmarked for delivery to the strategic stockpile by June...
Indio Muerto was explored and found promising four years ago. Anaconda quietly bought it, but felt little incentive to mine it: the Chilean government was taking a discouraging 85% of taxable income. Then, last May, Chile voted a new tax law that takes 75% of taxable income at the present production rate, but drops as output rises, sinking to 50% when production is doubled. With new incentive, Anaconda's subsidiary, the Andes Copper Mining Co., drilled enough exploratory holes at Indio Muerto to block out 78 million tons of high-grade ore (1.6% copper...