Word: mini
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Dates: during 1930-1939
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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...
...copper producers chuckled gleefully three weeks ago. Cause of their merriment was the successful manner in which they had called a bluff. Bluffers had been the representatives of Belgian Congo's Katanga Copper Co. (Union Miniére du Haut Katanga) who had refused to agree on production curtailment, had booked passage for home only to cancel it on the eve of sailing, return to the conference-table (TIME, Nov. 23). There was no glee when, a few days later, the Katangans suddenly rebooked passage, actually embarked. Copper curtailment, only solution to the industry's plight, seemed impossible...
Cheap copper has no terrors for the great Mid-African mines of the Union Minière du Haut Katanga, world's biggest producer. At the company's annual meeting in Brussels last week. President Jean Jadot stated that his company can make money on 8? or even 7½? copper. Katanga's 1930 earnings were 270,208,000 Belgian francs ($7,511,000), only about 6,000,000 francs down from the peak earnings of 1929. Elements in Katanga's strength are: tremendously rich ores; cheap native labor; big production of cobalt and radium (over...