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Nationalization of Copper in Chile and Its International Repercussions

  • Carlos Fortin
Part of the Institute of Social Studies book series (ISDS, volume 4)

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.

Keywords

Socialist Country Constitutional Amendment Copper Nationalization Chilean Copper Copper Industry 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Martinus Nijhoff Publishers by, The Hague 1979

Authors and Affiliations

  • Carlos Fortin

There are no affiliations available

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