Word: freeporters
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Bringing these riches to the outside world is another matter, and in most cases the payoff is years away. Freeport Indonesia Inc., a subsidiary of U.S.-owned Freeport Minerals Co., must finish a 70-mile highway over rugged mountains and through jungle-choked valleys before it can begin exporting ore from its Ertsberg mining site in 1973. P.T. International Nickel Indonesia, a subsidiary of International Nickel Co., of Canada, last June reported finding "significant" nickel deposits on the island of Sulawesi but does not expect to begin production before 1975. By then it will have constructed a $200 million mine...
HOTELS. Ludwig owns or operates such hotels as the Princess in Bermuda, and the International in Freeport on Grand Bahama Island. He is building or planning hotels in San Francisco, Bermuda, West Germany and Mexico. NATURAL RESOURCES. Ludwig owns the world's largest producer of salt by the sun-evaporation method, in Mexico; coal mines in Australia; potash fields in Ethiopia; and iron-ore deposits in both Australia and Canada...
Tourists also find Nassau increasingly seedy and surly. But the struggle is centered on the shiny new Freeport area, which has rubbed on the sensibilities of many blacks, especially Pindling, ever since it was created in 1955 by an extraordinary law. Under it, the Grand Bahama Port Authority, owned by a group of opportunistic foreign investors, was given almost sovereign powers over Freeport, including exemption from corporate and personal income taxes until 1990, and from some import duties until 2054. The Port Authority deal turned into a heated scandal when several officials of the all-white government later admitted taking...
Fanning the black Bahamians' longstanding sense of grievance over discrimination, Pindling charged that Freeport was "an alien anomaly that must either bend or break." It needed a "social conscience" and "a soul." To instill them, the government acquired an interest in the Port Authority and tightened gambling tax surveillance. Last year Pindling gained major new leverage: control of immigration and the issuing of work permits in Freeport...
Pindling is clearly using the Freeport issue to mollify Black Power extremists in his party and to inject a sense of nationalism against foreigners in the far-flung "out-islands." In the process, however, he has endangered a nation that depends on tourism for nearly 75% of its gross national product. Some blacks as well as whites are critical of Pindling's performance. "It is leading us all into disaster," says one prominent black, an ex-official who was forced by Pindling to retire. "This is a racist government, just as the white government was racist...