Word: smelter
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Dates: during 1960-1969
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Three years in the planning, the project would include a $196 million dam and a $128 million aluminum smelter. Ghana would pay $98 million, and the U.S. would ante up $133 million in long-term loans. Anxious to get his enterprise under way, the worried Nkrumah twice in the past month has sent hurry-up letters to President Kennedy...
...neatest trick in the Communist propaganda game in Latin America is the Kremlin's constant bluffing as it plays on the countries' deep yearning for development. When the Reds talked vaguely of offering Bolivia an uneconomic but showy smelter to refine its tin ore, the U.S. showed its cards by lending Bolivia $10 million to revamp the nationalized tin mines, which account for 67% of the impoverished nation's export income. Last week the Communists dealt off another, even bigger offer. In La Paz, Nicolai Rodionov, Soviet bureaucrat, announced that Russia would bid not only the smelter...
...Cheese. The Russian offer was little more than a tempting bit of cheese on the treadle of a Communist trap. A smelter would give employment to only 100 workers. It would force Bolivia to import large quantities of costly British coke to refine its relatively low-grade (30%) ore. It would put Bolivia in competition with the international tin cartel, thousands of expensive miles from potential markets. Bolivia would have to accept platoons of Soviet "technicians" and go through with the first Russo-Bolivian exchange of diplomats in history...
...counterattack attempts to deal with realities. Instead of a smelter, it calls for the construction of tin ore concentration plants to step up the ore-metal percentage. U.S. conditions for the loan are tough but businesslike. In addition to laying off some 8,000 nonproductive workers, the government must promise to divide its tin corporation, Comibol, into several separate government-owned companies operating under guidance of competent foreign consultants...
...such a situation Paz Estenssoro could not afford to give the impression of rejecting the Russian smelter offer out of hand. Nor did the U.S. expect him to. But as he prepped his officials for next month's mission, high officials leaked that the junket was aimed at ending the "myth of Russian help" as much as anything else...