CENTRAL INTELLIGENCE BULLETIN

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP79T00975A017500100002-5
• Release Decision: RIPPUB
• Original Classification: T
• Document Page Count: 7
• Document Creation Date: December 15, 2016
• Document Release Date: August 4, 2003
• Sequence Number: 2
• Publication Date: November 12, 1970
• Content Type: REPORT

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DIRECTORATE OF
INTELLIGENCE
Central Intelligence Bulletin
State Dept. review completed
Top Secret
C 19G
12 November 1970
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Centra l Intelligence Bulletin
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CHILE: The government is working out the mechanics
for nationalizing foreign mining companies. (Page 6)
Appro
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CHILE: The Allende government is working out
the mechanics for the nationalization of foreign
mining companies.
According to recommendations made by a committee
of economists and technicians, nationalization would
be negotiated under a new mining code to be presented
to Congress before the end of 1970. This is also the
proposed deadline for appointment of teams to negoti-
ate complete nationalization of the US-developed cop-
per and iron mines.
The committee has proposed that three large
state mining complexes be formed for copper, iron,
and non-metallic minerals and that a mining develop-
ment bank be established. Problems resulting from
nationalization, such as the flight of technicians,
availability of spare parts, and copper marketing,
were also discussed.
Compensation proposed for nationalized proper-
ties would raise problems for the US Government, be-
cause much of the companies' remaining investment
is insured by the US under an official program. US
copper mining investments have a book value of more
than $400 million, but the committee proposed com-
pensation of only $242 million. Payment would be
made in 20- to 30-year bonds bearing four-percent
interest.
Central Intelligence Bulletin 6
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