Word: kennecott
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...amendment will affect three large American copper companies - Anacon-UP, da, Kennecott and Cerro Corp. - which have been partners with the Chilean government in the nation's five largest mines. (The government announced last week that it would also buy out the Chil ean operations of the Bank of America and the Bank of London.) Though copper nationalization was clearly a victory for Allende, one he has sought ever since he began his quest for the presidency 19 years ago, he was not altogether happy with the law as passed. The President had wanted indemnification to be paid over...
...emotional speech last week, Allende charged that Anaconda and Kennecott had done everything possible to damage the economy of the nation. Nonetheless, most observers believe that Allende is too pragmatic to risk the kind of bitterness that could follow if the companies are denied fair compensation, and will finally consent to a settlement approaching $1 billion. Only recently Chile negotiated agreements with four U.S. companies on terms that proved much more favorable than had been anticipated...
...copper nationalization will have the most serious effect on the Chilean economy and on Allende's relations with the U.S., since three U.S. companies (Anaconda, Kennecott and Cerro Corp.) own the bulk of the remaining foreign interest in Chile's copper mines. Allende has also expropriated 350 latifundios (large estates), with a total of 2,593,000 acres. Although very few landless families have been relocated thus far, he likes to boast that "in five months we have done one-third of what the previous government did in six years...
...copper mines, many of which are already partly owned by the government. Last week, in a preliminary step toward that goal, a Senate committee gave approval to a constitutional amendment permitting the government takeover and giving Allende wide bargaining powers in compensating the three U.S. corporations (Anaconda, Kennecott and Cerro) who now hold part-ownership. The companies are claiming that they have invested over $ 1 billion in the mines; the government is unlikely to set the sum anywhere near that high. How Allende conducts these negotiations will determine the state of U.S.-Chilean relations for some time to come. Whatever...
...initial campaigns of the church's new Committee on Social Criteria for Investments, headed by Wall Street Lawyer Robert S. Potter. Another possible action, on which a report is due this week, is opposition to new open-pit mining operations in Puerto Rico by American Metal Climax and Kennecott, in which the national Episcopal Church office and local churches hold a combined $10 million in stock...