Word: coppers
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...sons of a German Jewish cigar merchant, Ernest Oppenheimer at his death was undisputed boss of the cartel that controls 95% of the world's diamond production, and he controlled more than 90 other companies worth an estimated $2.5 billion. His empire included coal, uranium, copper and some of the world's largest gold mines. Financially, he was the most powerful man in all Africa...
...Carlos Ibanez del Campo (who will visit the U.S. next month) has stuck by the unpopular anti-inflationary course charted by the U.S. economic consulting firm of Klein & Saks (TIME, May 7, 1956). This year, as signs of success multiplied, the program took a terrible blow: the price of copper-source of 30% of all government revenues-fell 35%. New pleas to ease the belt-tightening program poured in, but crusty old (80) Austerocrat Ibanez held firm. Said he: "I am a man without a future. But we need to keep this policy. This policy will stop inflation and save...
BASIC-METALS SLUMP will cause American Metal Co., Ltd., one of the biggest international producers of lead, zinc, silver and copper, to merge with fast-growing Climax Molybdenum Co. American will swap $141.3 million worth of stock for Climax, merge it into new company called American Metal Climax, Inc. American Metal's nine-month earnings slipped to $8,579,062 from last year's $14,869,617, but Climax's net for same period rose to $11,443,953 from...
With their production of concentrate limited, even the big integrated producers were planning to cut back the costly ore search. Anaconda Copper Mining Co., which operates the richest U.S. mine near New Mexico's Ambrosia Lake region (TIME, Sept. 30), set a course that probably will be followed by other industry leaders. Said President Clyde Weed: "We will keep on exploring, but at a slower rate. We will spend less money on development. If we find good deposits, we will sit on them until the demand picks...
...known as turista, the Aztec two-step, and Montezuma's revenge. In the capital's big, sparkling new Jamaica Market, and in a dozen smaller ones, watchful health inspectors installed a rigorous system of spraying fruits and vegetables with a chemical named Mobidin (containing colloidal silver and copper). The chemical, it is claimed, kills every germ in sight...