Topic summary
Kennecott Copper Corporation
Extracted from the Wikipedia article Kennecott Utah Copper.
History
In 1907, the Utah Copper mill in Magna started operation. Utah Copper and Boston Consolidated merged in 1910. Five years later, in 1915, Kennecott acquired a 25% interest in the company. In 1915, to dilute the cost of railroad construction to support the mines, and to find new ventures for the capital produced by the Alaskan mine, Kennecott Copper Corporation was incorporated from the various financial interests involved. By this time, the Guggenheim Exploration was already actively working copper mines in Chile and Utah. Upon Kennecott's creation, they merged their Braden Copper Company property in Chile, as well as 25 percent of the Utah Copper Company, into Kennecott.