Word: copperizing
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Four days earlier, in northern Chile, government carabineros had fired into a crowd of rioting "wildcat" strikers at El Salvador's copper mine, killing eight and wounding 35. The protesting general strike was one of a series called by the Frente de Acclon Popular (FRAP), Chile's Socialist-Communist opposition to Christian Democrat President Frei...
When thieves in Atlanta climb telephone poles to steal $5,000 worth of copper wire and when the government of Yugoslavia decides to reopen a copper mine that has been idle since the Middle Ages, it is a pretty good indication that there is a worldwide shortage of the metal. It was in recognition of that shortage that the U.S. Department of Commerce, trying to make sure that sufficient copper is available for Viet Nam needs, this month began requiring domestic producers to set aside 10%, instead of 7%, of their monthly production for the use of defense contractors. Warning...
...shortage of copper is acute, and it continues to be aggravated by strikes in the U.S., Zambia and Chile, the world's three major copper-producing countries. At the same time, supplies of other nonferrous metals are tightening, and prices are rising. In the last 18 months, tin has gone from $1.22 to $1.75 per lb., tungsten from $1.40 to $2.03, vanadium from $2.45 to $3.40. Mercury is so short that badmen in the Southwest, aping the Atlanta copper capers, have in the last four months stolen an estimated $70,000 worth of mercury from unattended gas-well meters...
Though producers set output records last year, demand is now running well ahead of supply as a result of continuing economic expansion. Aside from copper, the pinch is tightest in the strengthening and rust-resisting metals used to make alloy steels. Detroit is consuming more chrome steel for trim. A surge in orders for machine tools has boosted demand for tungsten steel used in cutting edges. Molybdenum, one of the prime hardening metals, is so scarce that steelmakers frequently are forced to buy on a grey market, where they pay speculators double or triple the going price...
...long run, shortages may be eliminated by the nonferrous-metal industry's current expansion drive, which includes Anaconda's recent decision to spend $400 million to $600 million to increase its copper output 50% by 1970. For faster relief, metal men are looking to Washington. They winced last year when the Government threatened to dump part of its stockpile to force back aluminum-price hikes. Now they only wish that the General Services Administration would accelerate plans to sell off eighteen kinds of stockpiled metals this year to ease the squeeze...