The World Copper Agreement, signed March 28, 1935, was an agreement by mining companies that attempted to create a worldwide

copper Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkis ...

cartel A cartel is a group of independent market participants who collude with each other in order to improve their profits and dominate the market. Cartels are usually associations in the same sphere of business, and thus an alliance of rivals. Mos ...

. The agreement formally created the International Copper Cartel. Uniting

Africa Africa is the world's second-largest and second-most populous continent, after Asia in both cases. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 6% of Earth's total surface area ...

South America South America is a continent entirely in the Western Hemisphere and mostly in the Southern Hemisphere, with a relatively small portion in the Northern Hemisphere at the northern tip of the continent. It can also be described as the southe ...

n and

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...

an 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 Union commonly refers to: * Trade union, an organization of workers * Union (set theory), in mathematics, a fundamental operation on sets Union may also refer to: Arts and entertainment Music * Union (band), an American rock group ** ''Un ...

( Katanga,

Belgian Congo The Belgian Congo (french: Congo belge, ; nl, Belgisch-Congo) was a Belgian colony in Central Africa from 1908 until independence in 1960. The former colony adopted its present name, the Democratic Republic of the Congo (DRC), in 1964. Colo ...

) * Rhokana Corporation (

Zambia Zambia (), officially the Republic of Zambia, is a landlocked country at the crossroads of Central Africa, Central, Southern Africa, Southern and East Africa, although it is typically referred to as being in Southern Africa at its most cent ...

) * 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 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 ...

) *

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 (

Mexico Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatema ...

) *

Braden Copper Company Braden Copper Company was an American company that controlled the El Teniente copper mine in Chile until 1967 when its copper holdings were nationalized. History Braden Copper Company was founded on 18 June 1904 by E.W. Nash, Barton Sewell, Willi ...

(Chile) In addition to the above, the Compagnie Francaise de Mines de Bor and the

Rio Tinto Rio Tinto, meaning "red river", may refer to: Businesses * Rio Tinto (corporation), an Anglo-Australian multinational mining and resources corporation ** Rio Tinto Alcan, based in Canada ** Rio Tinto Borax in America *** Rio Tinto Borax Mine, ...

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''
{{DEFAULTSORT:World Copper Agreement Copper cartels 1935 in economics 1930s economic history