Word: nickels
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Dates: during 1950-1959
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...neighbors are each other's best customers, but it is a chronic Canadian complaint that Canada gets the short end of the bargain. By the trainload and shipload, Canadian newsprint, nickel, aluminum feed the U.S. economy. The Consolidated Denison mine in Blind River, Ont. contains twice as much uranium as all the known U.S. reserves, and its entire output through 1961 is earmarked for the U.S. Atomic Energy Commission. In turn, the U.S. ships industrial machinery, automobiles and consumer goods to the north, and Canada's trade deficit with the U.S. last year...
...Competition. The U.S. decision was another in a series of developments that over the past few years has whittled away Inco's monopoly to 65% of the free-world market, threatens the industry's dominant producer with even more competition in the future. The burgeoning demand for nickel encouraged new companies to enter the field. Inco was turned down flat this spring by the Quebec government when it asked permission to develop a rich new nickel find in Quebec's Ungava district, but about three dozen other companies have won concessions in the area, including wealthy...
...Tinto, Falconbridge Nickel Mines and Iron Ore of Canada...
...March the General Services Administration agreed to buy up to 271 million Ibs. of nickel from Freeport Sulphur Co. by July 1965, thus giving Freeport incentive to build new nickel-producing facilities in Cuba and a $100 million refinery in Louisiana. Freeport's facilities will produce 50 million Ibs. of nickel annually, of which the U.S. will have the right to take up to 30% for stockpiling. The U.S. also contracted with M.A. Hanna Co. (to open a ferronickel mine in Riddle, Ore., which is now producing 11 million Ibs. a year) and with Canada's Falconbridge...
Goal Attained. With all its contracted commitments (including one to purchase 120 million Ibs. within five years from Inco's present facilities), the U.S. is sure to reach its annual supply goal of 440 million Ibs. by 1961. Though nickel is still in short supply and will be for many years, the free world's production is slowly edging up, reached 450 million Ibs. last year v. 1955's 427 million Ibs., and is expected to top 600 million Ibs. by 1960. The price of European and Japanese nickel, which U.S. firms have been forced...