The World Copper Agreement, signed March 28, 1935, was an agreement by mining companies that attempted to create a worldwide
copper cartel. The agreement formally created the
International Copper Cartel The varied difficulties experienced by the copper industry after the depths of the Great Depression were followed by the idea of getting relief through some form of collective action in order to reduce the intensity of competition. In this way on Ma ...
. Uniting
African,
South American and
European producers, the agreement aimed to "bring about better conditions in the production, distribution and marketing of copper throughout the world outside of the United States" through curtailment of production. To supervise the implementation of the agreement and amend breaches of it, the agreement provided for the creation of a Control Committee of 5 members.
Signaturies to the agreement
* T
Union Minière du Haut Katanga (
Katanga,
Belgian Congo)
*
Rhokana Corporation (
Zambia)
*
Roan Antelope Copper Mines (Zambia)
*
Chile Exploration Company
Chile, officially the Republic of Chile, is a country in the western part of South America. It is the southernmost country in the world, and the closest to Antarctica, occupying a long and narrow strip of land between the Andes to the east a ...
(
Chile)
*
Andes Copper Mining
The Andes, Andes Mountains or Andean Mountains (; ) are the longest continental mountain range in the world, forming a continuous highland along the western edge of South America. The range is long, wide (widest between 18°S – 20°S l ...
(Chile)
*
Greene Cananea Copper
Greene may refer to:
Places United States
*Greene, Indiana, an unincorporated community
*Greene, Iowa, a city
*Greene, Maine, a town
**Greene (CDP), Maine, in the town of Greene
*Greene (town), New York
**Greene (village), New York, in the town o ...
(
Mexico)
*
Braden Copper Company (Chile)
In addition to the above, the
Compagnie Francaise de Mines de Bor and the
Rio Tinto each had a right to have one representative attend (without vote) all meetings of the Control Committee, and to receive minutes of such meetings and copies of all Committee decisions.
External links
Text of the World Copper Agreement
Montero, J.-P. and Guzmán, J.I. ''Welfare-enhancing collusion in the presence of a competitive fringe''Guzmán, J.I. ''Cooperation as a price stabilizing mechanism in mineral markets''
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Copper cartels
1935 in economics
1930s economic history