Word: coppers
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Dates: during 1960-1969
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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...
FRAP was obviously working along the guidelines of the recent Tri-Continental Conference in Havana, which recommended stepped-up labor trouble as a means to Red takeover. Since January, strikes in the Chilean copper mines have cost Frei's government $60 million, and the mild-mannered President got tough. Going before the nation on radio and television, he angrily declared that FRAP was out to "economically paralyze the nation. We are witnessing a premeditated act of subversion...
Still, Frei has been unable during his 17-month tour in office to translate his 53% electoral mandate into significant reforms. Though his Christian Democrats dominate the House of Deputies, FRAP-in combination with the Radicals-holds the upper hand in the Senate and has emasculated Frei's copper program. This scheme aims to make Chile the world's No. 1 copper producer and earn an additional $300 million in foreign exchange to finance Frei's sweeping proposals for land reform-which themselves are stymied in the legislature. Heartened by a recent by-election victory in Valparaiso...
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...