Word: coppers
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Dates: during 1970-1979
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...South Africa and ships it to the U.S. from there. Where that plant's ore originates is problematical. AMAX has invested in one of the largest Namibian mining companies, Tsumeb, together with other American and South African companies, Falconbridge, a Canadian subsidiary of Superior Oil, owns the Oamites copper mine together with a South African government corporation. Black miners in Namibia are paid even less than miners in South Africa. Fur-thermore, investments there break the mandatory boycott imposed because of South Africa's continued colonization of the country...
...everyone who examines what happened will agree on one thing: a factor that no one in Chile foresaw became a keystone in the opposition's effort to undermine the U.P. No one predicted that American companies would place a silent boycott of Chilean copper after the mines were nationalized, or that American banks would refuse to lend the U.P. money. This quiet ostracism crippled Chile's economy, ending its sources of foreign exchange so that it could not buy the imported goods upon which it had relied. Shortages of luxury and some basic goods--created both by the foreign exchange...
...list of big deals announced over the past twelve months includes the largest U.S. merger ever: General Electric's $2 billion purchase of Utah International, a company that mines coal and copper. Two other huge mergers: Mobil Oil's $1 billion acquisition of Marcor, the company that owns the Montgomery Ward department stores, and Atlantic-Richfield's $700 million buy-out of Anaconda, the copper-mining giant. Right now, Gulf Oil has offered $440 million for Kewanee Industries, an independent oil and gas producer; PepsiCo has bid $315 million in stock for Pizza Hut, a chain...
...dark side: it could have a pernicious effect on world economic growth. When countries are required to reduce or eliminate their balance of payments deficits, there are fewer customers for the products of industrialized nations and fewer buyers of basic Third World commodities such as bauxite and copper. The end result could be a vicious cycle that would dampen investment and lower incomes...
...Kuhn Loeb & Co., and Walter Page, president of Morgan Guaranty Trust, finally lopped off the coal business. Then it began considering ways to use the resulting billion-dollar bonanza. The board's conclusions: diversify into another business (possible targets: forest products and oil companies) and invest more in copper properties...