Word: copperizing
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...Anaconda Mining, one of the two biggest U.S. mining operations in Chile before nationalization, made 80 per cent of its profits for one year in Chile although Chile represented less than 20 per cent of Anaconda's investments. UP estimated in 1972 that the average rate of profit on copper investment for U.S. companies was 52.8 per cent compared to a 10 per cent return offered these investors by other countries...
OWNER 1972 PRODUCTION MAIN OPERATIONS (millions of tons) Peabody Coal Kennecott Copper 71.6 Utah, Mont...
After decades of relative stability, world prices of these materials are taking off on what could be a long climb. Between 1968 and 1973, the average U.S. price of nickel went from 940 per Ib. to $1.53, tin from $1.48 to $2.20 and copper from 420 to 590. In addition, the U.S., in part because of its wealth and power, is unpopular in some Third World nations. With demand for minerals strong, several countries conceivably could reduce exports to the U.S. and find eager buyers to take its place...
...high. Though American bauxite reserves are limited, there is an abundance of other clays and ores from which aluminum could be produced-at increased cost. Rising foreign prices would also make it worthwhile to dig out less accessible mineral deposits and thus open up large new reserves of chromium, copper, iron ore and other materials. Proven American reserves of lead total 36 million tons, easily enough to last through this century-and probably a lot longer-because so much lead is recycled. In addition, U.S. industry could substitute amply supplied materials for scarce ones (plastics for tin, for example...
...least ten other U.S. companies that either have been nationalized or stand to be. In separate meetings with Cerro, the Peruvians had offered the company only $12 million, though the firm's Peruvian unit had sales of $159 million and profits of $16.6 million from its copper, lead, silver and zinc mines for the first nine months of 1973. Provided that there is a sweetening of those terms, and terms for the other companies, Greene is said to have told the Peruvians that their applications for loans at the U.S. Export-Import Bank would be welcomed. Additionally, there...