Since the outbreak of the war, there has been considerable discussion as to just how the copper production from the Belgian Congo and South America could be absorbed. A few days after the start of hostilities, the British Government fed a price of £51 a long ton, (about 9 cents a pound at the present rate of exchange) for copper produced within the empire and licensed the export of the metal. The output of the empire at or near productive capacity would be sufficient to supply the needs of both Britain and France, it is believed in the trade.
The proposed French purchases, if they do not exceed 25000 tons a month, wil not nearly absorb the production in these areas. The annual rate of production of the South American mines is estimated at 600,000 short tons a year, while that of the Union Miniere clu Haut Ka-tanga, the chief producer in the Belgian Congo, is placed at 200,000 tons. The American companies involved in the negotiations are the Anaconda Copper Mining Company and the Kennecott Corporation, both of whose subsidiaries are large producers in Chile, Concessions Granted to
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