NATIONALIZATION: Return to El Teniente?

U.S.-based multinational companies have long since written off as dead losses the Chilean operations that were expropriated by the late Marxist President Salvador Allende. But last week the new Chilean Foreign Minister, Ismael Huerta, announced at the U.N. that the military junta that overthrew Allende in a bloody coup last month has reopened negotiations with Anaconda and Kennecott with a view toward paying them something for those giant copper mines —Anaconda's Chuquicamata and Kennecott's El Teniente—that Allende expropriated. Some other members of the Chilean U.N. mission even dropped hints that Anaconda...

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