811.20 Defense (M) Chile/12–3044: Telegram
The Ambassador in Chile (Bowers) to the Secretary of State
[Received 11:27 p.m.]
1988. United Press despatch from New York bearing yesterday’s date line and prominently featured in Santiago press today states that according to an official of one of the most important United States copper companies Metals Reserve has already signed contracts to purchase Chilean, Mexican and Peruvian copper during first quarter 1945 at same prices as previously and in view of increased copper requirement contracts for second quarter probably will be signed early in February instead of early March as has been done heretofore.
Same source is reported to have declared current military situation has caused Washington to clearly see the reality of importance of copper and contracts will continue to be signed until at least end of European hostilities as there is no prospect of increased United States production due to shortage manpower; that London announcement that United States will acquire considerable portion Rhodesia output should cause no surprise as plan has been under consideration for protracted period; that there probably will be an abundance of cargo space for transportation Rhodesian copper in ships now supplying American installations in Africa, that United States for some time has been consuming Canadian copper and copper production of British colonies is greater than can be utilized by British industry.
Embassy is assuming that contracts reported to have been signed cover purchases from Bra den and Anaconda mines in Chile. If assumption is incorrect please advise.