Word: frei
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Dates: during 1960-1969
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...electric power. The cost of living is soaring and abrasive tensions between Zambia's blacks and whites (who constitute 1.5% of the population), are on the rise. Recognizing the importance of the mines to his country, Kaunda met two years ago with Chile's President Eduardo Frei to discuss an arrangement to help maintain world copper prices and quotas. Although no price-fixing agreement resulted from their talks, Frei's nationalization of the Chilean copper industry, beginning in 1967, probably stimulated Kaunda to take a similar step in Zambia...
...Chile, the government of President Eduardo Frei Montalva came to terms, after weeks of negotiations, with the U.S.-owned Anaconda Company. Chile will buy 51% control of the giant copper interests of the company (see BUSINESS). It was a victory for the moderate Frei; Chile's more militant nationalists had agitated for outright expropriation of Anaconda...
...huge Chuquicamata and El Salvador mines, the source of 61% of the company's annual production and half of its earnings. Since then, the Latin American political winds have shifted. Last week Anaconda management decided that paid-for nationalization of the two mines, offered by moderate President Eduardo Frei, was better than the outright expropriation that Chilean leftists were demanding...
...agreement on the mines was a political triumph for Frei, whose shaky Christian "Democrat party must face a rising leftist challenge in the 1970 elections. But Anaconda stock dropped to a new low for the year, and company executives said that they did not know how Anaconda would make up its Chilean losses...
Whipping Up Emotions. Frei wants negotiation instead of legislation; Chile is unable to run the mines on its own and depends on copper for most of its foreign exchange. Still, rightists and Communists, as well as leftists within Frei's party, are preparing nationalization bills. Their demands are whipping up public emotion and may force greater concessions from Anaconda than those the company refused...