On Sunday (July 11), the Chilean Congress amended the Constitution to allow Marxist President Salvador Allende to nationalise the country's mineral resources.
SV Slogan in Spanish "The copper will be Chilean"
GV PAN The world's largest underground copper mine (2 shots)
SV Train enters mine (2 shots)
SV Miners leave mine
SV & CU President Allende outside home (2 shots)
Initials BB/2238 RR/TB/BB/2252
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Background: On Sunday (July 11), the Chilean Congress amended the Constitution to allow Marxist President Salvador Allende to nationalise the country's mineral resources. They include the giant copper mines owned by the United States, responsible for 80 per cent of Chile's international earnings.
This film is a reissue of a Visnews production showing the country's support for President Allende's intention announced in October lat year to nationalise his country's mineral resources. Illustrated in the film is the "El Teniente", the largest copper mine in the world. It represents part of the vast United States investments in Chilean copper. However, only seven out of the seven thousand employees are American.
SYNOPSIS: In October last year, Chileans came out in full support for the announcement from their newly elected President Salvador Allende that he intended to nationalise the country's mineral resources. That included the giant U.S. owned copper mines. On Sunday, the Chilean Congress amended their Constitution to allow the President to carry out his nationalisation policy. The decision followed a debate which lasted over three hours. An official statement say the move gives the state the permanent and inalienable right to take control of Chile's mineral riches. Chile is the world's fourth largest producer of copper, which represents eighty per cent of its foreign currency earnings. This move will in the main affect the huge U.S. Anaconda, Kennecott and Cerro Corporations, which, with State companies, jointly own the copper mines.
Dr. Allende is the Western World's first freely elected Marxist Head of State. After he took power last year, he promised to nationalise the country's mining industry, private banks and monopolies. Under the new bill, he now has the power to decide how much of a firm's capital will pass into Chile's own corporations.