Word: coppers
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Dates: during 1970-1979
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...annual Papua v. New Guinea soccer match. On the island of Bougainville, which is part of the new nation, there is a growing feeling that the islanders should get a greater share of the $150 million in profits expected this year from an immense Australian-operated copper mine...
...there are grounds for optimism. Australian High Commissioner Leslie W. Johnson points out that because of its fractionalization, no single tribe dominates even one region. The new nation has a good Australian-trained police and an army recruited from all over the country. Already an exporter of copper and gold, the country is rich in other minerals and may even have oil. Japanese businessmen are busily exploring the rich potentialities of this territory -some 30 years after the imperial army lost 150,000 lives in a futile attempt to seize it by force...
...encouraged self-sufficiency in consumer goods and ignored the export and agricultural sectors. The Chilean upper class did not make a sufficient investment in research and development to build industry for export, but preferred to rely on an easy internal market, protected by tariffs and an overvalued currency. The copper exports also failed to increase because U.S. companies used their profits from Chilean mines to invest elsewhere...
...price of copper fell, and Chile found itself in a balance of payments crisis. U.S. and international organizations attempted to promote a favorable climate for private investment by filling the gap with loans. During this period, the Chilean economy did not grow, but the loans enabled the middle and upper classes to maintain a high level of consumption. In the years 1965-1970, foreign organizations loaned Chile $1.1 billion, increasing the already staggering foreign debt...
Open-pit mining methods, like those used to get copper in Butte, Mont., may also be tested, probably at one of the Colorado tracts. Great earth-moving machines would first peel back the sagebrush and grass over thousands of acres, next remove billions of tons of earth and rock, and finally gouge out the oil-shale beds 100 ft. to 850 ft. below the surface. The other technique, to be tried at the remaining leaseholds, will be to deep-mine with conventional pillar-and-room tunneling, as is done with coal-but on a gargantuan scale. More than...