METALS: Blockading Chile's Copper

THE threat of expropriation is a sword of Damocles constantly dangling over U.S.-based multinational companies operating in less developed countries. It is a peculiarly frustrating danger, since it has been pretty much accepted that a company that actually is expropriated can do very little about it. It can negotiate about compensation if the expropriating country is of a mind to pay; if not, executives of most companies have simply written off the value of their seized assets. Kennecott Copper Corp., however, has come up with a third strategy to recover the losses it...