Word: katanga
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Diplomacy had one other interest in the Henderson copper deal this week. Chile is afraid of great British Rhokara and Katanga mines in Africa, whose lower labor costs enable them to produce for as little as 2½?a pound. To protect Chile against being crowded by Africa in the new tariff-circumventing U. S. market, the British may recognize the U. S.'s special hemispheric relationship with Chile, agree to forget about the U. S. market...
Meanwhile, Belgian prospectors had discovered veins of pitchblende in the Belgian Congo no less than 20 times richer than the U. S. carnotite. After the War, Belgium's Union Minière du Haut Katanga started mining this material, shipping it to the mother country for refining. The U. S. with its low-grade carnotite could not compete and soon dropped out of the world picture. The Belgian company enjoyed what amounted to a monopoly, producing just enough to fill the demand at its arbitrarily maintained price of $70,000 per gram. Since the medicinal uses of the element...
...invented the foreign exchange medium of the belga (five Belgian francs). Europe called him "The Mystery Man," and "The Copper King of the Congo," where as a young captain he saved for Belgium from the British the territory in which one of the world's richest copper mines, Katanga, was later discovered...
...gold, Premier Georges Theunis last week went to work. In few countries have Government expenses been pared so sharply as in Belgium. Yet last week Elder Statesman Theunis, backed by two of Belgium's richest men. Minister Without Portfolio Emile Francqui (banks, copper) and Finance Minister Camille Gutt (Katanga Copper), pared 5% more off Government pensions and salaries, 50%, off rent allowances, a big slice off relief allowances to the provinces...
...purpose of this invasion of Africa was to find out if a tropical disease discovered in Guatemala five years ago was the same as one believed to be prevalent among the natives of the Katanga district. Their summer's work convinced the members of the expedition that the two are identical, and a great deal of valuable information was obtained...