Chile plans to sell copper direct
(N.Z.P.A.?Reuter—Copyright)
SANTIAGO (Chile), February 26.
Chile has announced that it will bypass the London metals market, and sell copper directly to China, the Associated Press has reported.
Chile has been using the London metals market to clear the bulk of its copper sales for more than six years. The chairman of the Chilean Government’s Copper Corporation (Mr M. Nolf) made the announcement at a news conference in Santiago. The corporation regulates Chile’s copper mining industry.
Chile, the world’s largest exporter of copper, established relations with China two months ago. In another development,
the Chilean Government announced that it had cancelled a contract with an Anaconda company subsidiary that had handled a large portion of Chile’s copper sales abroad. Mr Nolf said the contract, which will expire on April 1, on 90 days notice, will not be renewed. He said the Chilean Government plans to set up its own sales network abroad. The United States owned Anaconda company is the largest copper mining body in Chile.
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Bibliographic details
Press, Volume CXI, Issue 32542, 27 February 1971, Page 19
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171Chile plans to sell copper direct Press, Volume CXI, Issue 32542, 27 February 1971, Page 19
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