Word: copper
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
Plainly, the copper industry can assure steady growth over the long haul only by building up production capacity. Accordingly, Anaconda has mapped a fiveyear, $600 million program to find new sources as well as improve existing facilities. At the same time, Anaconda Chairman Charles M. Brinckerhoff, 66, recently signed a 20-year agreement with the Chilean government that should help stabilize the company's operations in that country; unlike its chief U.S. competitors, Kennecott and Phelps Dodge, both of which mine most of their copper at home, 65% of Anaconda's supply comes from Chile...
...world's largest copper producer, Anaconda Co. has enjoyed unprecedented prosperity over the past three years, thanks in large part to worldwide industrial expansion and the quickened demands of the Viet Nam war. But copper people know only too well that theirs is an uncommonly volatile industry, in which good times are never to be taken for granted. In view of that, it was a sign of unusual optimism last week when Anaconda's directors voted a two-for-one stock split and put dividends on a regular quarterly basis...
...large part, of course, those actions reflected Anaconda's pretty profit picture. Controlling 40% of the world's reserves at a time when copper prices have soared, the company last year registered a staggering 67% earnings gain to $132 million on sales of $1.2 billion. Even more important, the company is taking vigorous steps to meet some of its potential problems...
Chief among them is the fact that demand for copper has far outstripped supply, which poses the danger that consumers will turn in desperation to such substitutes as aluminum or plastic. Moreover, to make sure that domestic and defense demand is met, the Federal Government has virtually locked U.S. producers out of higher-priced world markets by declaring a partial embargo on copper exports. Beyond that, the Government has required producers to set aside more than one-quarter of their output for military...
...yearlong rise in gasoline prices may make the current boost less defensible in the Administration's eye than the recent increases pushed through by copper, steel and aluminum producers. A fact to remember, however, is that even at the new levels motorists would be paying about the same for gasoline as they did ten years ago had not federal and local taxes, now an average 10½? a gallon, grown by 15% in that time...