Word: kennecott
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...Copper output was boosted 15% by Phelps Dodge Corp., the No. 2 domestic producer, following a similar rise by the No. 1 producer, Kennecott...
...doing most of the importing that has helped depress domestic prices. Another point not lost on a Congress increasingly mindful of the problems of inflation: copper, at least, appears on the road to recovery by itself. Though copper stocks of 242,781 tons are still high, No. 1 producer Kennecott Copper Corp. brought its U.S. miners back to a six-day week, announced it was boosting production 15% due to "strong European demand" and the promise of a general pickup at home...
...earnings reports last week indicated where business recovery is rapid and where it is slow. It is rapid in some aircraft companies, in machinery makers, rubber and steel. It is slow in base metals and oils, which still suffer from low prices and excess capacity. Both Anaconda Co. and Kennecott Copper Corp., the country's two biggest copper producers, failed to cover their dividends; Kennecott chopped its quarterly payment from...
...Kennecott Copper...
...most U.S. metal producers the plan is merely a rear-guard action against the tariff increases that they feel are necessary. Anaconda's Chairman Clyde Weed called the subsidies "unfair and absurd." Said a Kennecott official: "I can't imagine the American taxpayer making contributions to Kennecott and Anaconda...