Word: coppers
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Dates: during 1960-1969
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According to the SEC's suit, the 12 other men first knew of the rich deposits of zinc and copper near Timmins, Ont. as early as Nov. 12, 1962. Acting on this information, these men bought Texas Gulf stock, the SEC alleged...
Most seriously hit was El Cobre, a tiny copper town run by a subsidiary of Baron Guy de Rothschild's Société Minière et Métallurgique de Penarroya. For 35 years the mineowners had channeled their slag into a reservoir behind a 230-ft. earth dam. Just below the dam were the wooden huts of the town's 400 miners. When the tremors came, the dam gave way, and the thick, muddy waste exploded out across the valley, burying 200 people in seconds. One woman who saw it coming managed to scramble...
...with the Program. To foreign investors, Frei offers lower taxes and other inducements for expanding production; to the campesino, land reform; to slum dwellers, state-financed housing; to all taxpayers, an overhaul of the federal bureaucracy and a more efficient use of government funds. His plan to "Chileanize" the copper industry is typical of his give and take. Once Congress approves, the government will acquire a 25% interest in two new U.S. copper ventures and buy a 51% interest in the U.S.'s Braden Copper...
...American companies have revised their investment plans to include new facilities in Latin America, including Dow Chemical, General Motors and Chrysler, all of which are building large new plants. U.S. Steel, Union Carbide and Alcoa are considering multimillion-dollar expansions there. Chile's government has persuaded its U.S. copper companies-Cerro de Pasco, Kennecott and Anaconda-to invest $410 million by 1970. Venezuela has done such an effective job of mopping up its Communists that Jersey Standard's Creole and other oil companies, which transferred more than $100 million out of the country...
...Peru produces everything from antimony to zinc, and the U.S. companies that do the bulk of the mining are in the mood to expand. Marcona Mining Co. plans to triple the capacity of its $20 million iron-ore pelletizing plant on Peru's southern coast; Southern Peru Copper Corp. is investing $16 million for improvements; and the king of the mountain, Cerro de Pasco Corp., has just earmarked $18 million to expand its $270 million mining complex. Next month General Motors will open a $5,000,000 assembly plant outside Lima, the first of 15 automakers, including Chrysler...