Abstract
Nationalization of the large, partly U.S.-owned copper companies, jointly known as Gran Minería del Cobre,1 was a major promise in the Programme with which Salvador Allende was elected President of Chile in 1970. Within eight months of his inauguration the promise had been fully carried out and in a manner, moreover, that can be described as uncompromising: the Government refused to engage in any negotiations with the companies regarding compensation and instead proceeded to deduct from the amount owed to the companies all excess profits made during the preceding fifteen years. This effectively ruled out payment of direct compensation above what had already been paid out by the previous Government for the purchase of 51% of the companies’ assets.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
M. Wilkins, The Emergence of Multinational Enterprise: American Business Abroad from the Colonial Era to 1914 (Cambridge, Mass., Harvard University Press, 1970), 184.
C.W. Reynolds, ‘Development Problems of an Export Economy. The Case of Chile and Copper’ in M. Mamalakis and C.W. Reynolds, Essays on the Chilean Economy (Chicago, R.D. Irwin, 1965), 226.
T.H. Mo ran, El cobre es chileno. ‘Dependencia’ e ‘independencia’ en la economia politico international del cobre chileno 1940–70 [The Copper is Chilean. ‘Dependence’ and ‘Independence’ in the International Political Economy of Chilean Copper, 1940–70] (Santiago de Chile, Universidad de Chile, 1970), 59
P. Nudelman, La compensacidn a las companias del cobre nacionalizadas por el Gobierno de Chile [The Chilean Government’s Compensation to the Nationalized Copper Companies] (Santiago de Chile, CODELCO, 1973), 4.
R. Tomic, ‘Primeros pasos hacia la recuperation del cobre: el Convenio de Washington de 1951’ [First Steps towards the Recovery of Copper: the Washington Agreement of 1951], in R. French-Davis and E. Tironi (eds), El cobre en el desarrollo nacional [Copper in National Development] ( Santiago de Chile, Ediciones Nueva Universidad, 1974 ), 131–157.
C.W. Reynolds, ‘Development Problems…’, 375; M. Mamalakis, ‘Contribution of Copper to Chilean Economic Development, 1920–67: Profile of a Foreign Owned Export Sector’, in R.F. Mikesell, et. al., Foreign Investment in the Petroleum and Mineral Industries. Case Studies of Investor-Host Country Relations (Baltimore, Johns Hopkins University Press, 1971), 416–417.
N. Girvan, Copper in Chue: A Study in Conflict between Corporate and National Economy ( Jamaica, University of the West Indies, 1972 )
K. Griffin, Underdevelopment in Spanish America (London, George Allen and Unwin, 1969)
Moran, El cobre es chileno…; Moran, Multinational Corporations and the Politics of Dependence (Princeton, Princeton University Press, 1974)
R. Novoa, La batalla por el cobre [The Struggle for Copper] (Santiago de Chile, Editorial Quimantu, 1972); M. Vera, La politico economica del cobre en Chile [The Economic Policy for Copper in Chile] (Santiago de Chile, Ediciones de la Universidad de Chile, 1961).
Kennecott Copper Corporation, Expropriation of El Teniente. The Largest Underground Copper Mine (New York, 1971).
William P. Rogers, ‘Preface’ in R.B. Iillich (ed), The Valuation of Nationalized Property in International Law (Charlottesville, University of Virginia Press, 1972).
C. Fortin, ‘Principled Pragmatism in the Face of External Pressure: The Foreign Policy of the Allende Government’, in R. Hellman and H.J. Rodenbaum (eds), Latin America: The Search for a New International Role (New York, Halsted Press, 1975), 217–245
J. Petras and R. LaPorte, Jr., ‘U.S. Response to Economic Nationalism in Chile’, in J. Petras (ed), Latin America: From Dependence to Revolution ( New York, John Wiley and Sons, 1973 ), 195–230.
Anaconda Company, Confiscation of Anaconda Property by the Chilean Government (New York, 1971), 1.
M. Molff, ‘Los problemas basicos del cobre’ [The Basic Problems of Copper], in G. Martner (ed), El pensamiento economico del Gobierno de Allende [The Economic Thought of Allende’s Government] (Santiago de Chile, Editorial Universitaria, 1971), 176.
N.R. Doman, ‘New Developments in the Field of Nationalization’, New York University Journal of International Law and Politics, 3 (1970), 318.
O.B. Miranda, Las nationalizations cubanas, los tribunales norte-americanos y la enmienda Hickenlooper [The Cuban Nationalizations, the U.S. Tribunals and the Hickenlooper Amendment] (La Habana, Ministerio de Relaciones Exteriores, 1971).
L. Geller and J. Estevez, ‘La nationalization del cobre’ [The Nationalization of Copper], in: Instituto de Economia [institute of Economics], La economia chilena en 197 [The Chilean Economy in 1971] (Santiago de Chile, Universidad de Chile, 1972), 557–558.
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1979 Martinus Nijhoff Publishers by, The Hague
About this chapter
Cite this chapter
Fortin, C. (1979). Nationalization of Copper in Chile and Its International Repercussions. In: Sideri, S. (eds) Chile 1970–73: Economic Development and Its International Setting. Institute of Social Studies, vol 4. Springer, Boston, MA. https://doi.org/10.1007/978-1-4613-3949-6_6
Download citation
DOI: https://doi.org/10.1007/978-1-4613-3949-6_6
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4613-3951-9
Online ISBN: 978-1-4613-3949-6
eBook Packages: Springer Book Archive