Word: frei
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Dates: during 1960-1969
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...companies-Anaconda and Kennecott. Chilean mines produced 741,000 tons of copper last year, about a sixth of the non-Communist world's total. Last week Anaconda Co., the world's biggest copper producer, started to negotiate privately in Santiago with emissaries of President Eduardo Frei. Both sides seemed likely to compromise...
Debate over Morality. Nearly five years ago, Frei was elected on a moderate platform that promised to "Chileanize" the country's copper industry, then largely U.S.-owned, and double production to move it from third place to first place in the non-Communist world. His government offered tax cuts in return for production increases and a share of the ownership. Kennecott in 1967 sold Chile 51% of its El Teniente mine and promised a large expansion of operations by 1971. Chile paid the company $80 million and cut its taxes in half-down to 44% of revenues. Chile also...
...Frei seemed to have made everybody more or less happy, but he had not reckoned on price increases that resulted from rising world demand for copper. When Frei worked out his plan, copper had been averaging about 290 a pound; last week on the London Metal Exchange it sold for 690. Although the rise benefits both Chile and its U.S. partners, many Chileans are displeased...
Charging that fatter U.S. profits from Chilean copper are "immoral," leftists renewed their demand for outright nationalization. Other Chileans complained that Anaconda is paying for the Exotica mine out of its windfall profits rather than by investing more U.S. dollars. Although Frei is trying to strengthen his fellow Christian Democrats before the 1970 elections, he is sticking to a moderate position. This month, he demanded a 51% share of Anaconda's Chuquicamata and El Salvador mines and an increase in the company's taxes. Later, he will also seek a larger share of profits from Kennecott and Cerro...
...equally hard blow, Chile requested that Rockefeller's visit there be canceled. Again, like Caldera, President Eduardo Frei Montalva, a friend of the U.S., was influenced by threats of unrest in response to the Rockefeller visit. In any case, some Chileans felt that a visit from President Nixon's envoy would be superfluous: this week, Foreign Minister Gabriel Valdés, acting on behalf of all Latin American countries, will present the President with a common-stand position paper that proposes new foundations-particularly in the economic field-for U.S.-Latin American relations...