Word: coppered
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When Zambia gained independence from Britain eight years ago, it was said that the country had two specific advantages over its neighbors: its copper mines, the richest in all Africa, and its idealistic young leader, Kenneth Kaunda. Zambia still has those assets, but both have been looking a bit tarnished lately. The price of copper has dropped from $1,400 to $1,070 per ton in the past three years, costing the country some $200 million a year in revenues. And Kaunda, now 48, under increasing political pressure at home, has decided to take the drastic step of abolishing...
...defection of Kapwepwe and a number of his followers. Last May a mysterious parcel-bomb exploded in Kaunda's office but the Zambian leader was away at the time. Kaunda's nervousness can also be attributed to his country's economic problems. Despite the drop in copper revenues, Kaunda is under pressure from his countrymen to maintain the momentum of development of roads, schools and hospitals as well as housing...
...been pretty much accepted that a company that actually is expropriated can do very little about it. It can negotiate about compensation if the expropriating country is of a mind to pay; if not, executives of most companies have simply written off the value of their seized assets. Kennecott Copper Corp., however, has come up with a third strategy to recover the losses it sustained when the Chilean government of Marxist President Salvador Allende Gossens last year seized its El Teniente mine, near Santiago. In a move of significance to all multinationals operating in mineral-rich but money-poor countries...
...mask on Koma Kyuhaku's 18th century inro are complemented by a fierce little demon mask with ivory horns. In a sense, the extreme limit of aestheticization was reached by the makers of tsubas. Considered merely as an object, the 19th century sword guard of the blue-black copper alloy known as shakudo, inlaid with gold maple leaves (the gold patchy, as in autumn), is sumptuous enough. But the idea of dying with so delicate a work of art attached to one's stomach by two feet of razor-sharp steel could only have arisen in Edo Japan...
...government increased the money supply by 115% last year, and is doing the same in 1972. The black-market rate for escudos has now reached 300 to the dollar, more than six times the official rate. Chile's foreign exchange reserves have been used up, and its nationalized copper mines have been cut off from traditional lines of international bank credit. The economy limps along through deficit financing and aid from Communist countries...