The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1932-05-02
The Drive for Profits
on 6-Cent Copper !
By Labor Research Association

COPPER companies are beginning to boast Of
the results in dollars and cents of an intensive
drive of Improvement and economies" -includ-
ing, of course, speed-up and wage-cutting as the
chief elements in the drive.
Nevada Consolidated Copper Co. reduced its
cost of making copper from 1888 cents a pound
in the first quarter of 1881 to IA cents pound
in the last quarter of 1881. If it were operating
at capacity, the cost would be only cents a
pound. Utah Copper Co. has still lower costs,
averaging $50 cents pound during 1881. utah
Copper controls Nevada Consolidated and is
itSelf controlled by the Kennecott Copper Corp,
a Morgan company.
Anaconda Copper Mining Co. reports that at
Butte the costs are the lowest in the history Of
the camp. Operating at only 40 per cent of
capacity last year, with average copper price of
1-3 cents pound, Anaconda was able to make
an operating profit Of more than $2,750OO0."
The closing of copper plants continues Phelps
Dodge Corp, Arizona, will close for an indefinite
period its plants at Ajo from April "a and at
Morenci from July l. 1t will continue production
only at it's Bsbee properties. Anaconda Copper
Mining Co. has operated at 20 per cent of Ca
pacity since April 1. According to the Wall St.
Journal, what the copper industry needs is a
complete shutdown of all output for six months
and Anaconda is willing to take this step, if
other producers will do likewise
tariff on copper is demanded by governors of
copper mining states and officials of companies
mining copper only in this country, Even with
normal consumption under capitalism the
copper mines and smelters have a world surplus
capacity of nearly two billion pounds year
almost as great as the total capacity of all the
copper works in the United States. Mines in
South America and Africa are producing much
more cheaply than mines In the United States.
Workers meantime report that for those who
still have any job at all, copper wages have
been cut from about $3.50 to $3.75 a day.
Most of the imports of copper in the past have
come from American-owned mines in other
countries-the raw copper being imported for
refining and then most of it going out of the
country again. New refneries abroad are al
ready drawing away much of the raw copper
formerly imported for refining in the United
States but American producers Qed by Phelps
Dodge Corp0 predict an increase of imports
from the loW-cost fields in competition for the
American market.
Competition thus far between copper mined
in the United States and copper mined elsewhere
has been chiefly in the foreign markets 1t is
probable (although this is not mentioned in
their public argumentS) that American copper
producers want tariff SO as to maintain a much
higher price on the American market while they
compete at low prices abroad with the low cost
copper produced in foreign mines.
An economist writing in The Annalst, points
out that if all desirable possibilities for using
copper could be realized dor example, in dwell
ings and electrical equipment for the masses of
the population the surplus capacity would be
absorbed by current demand That this cannot
be accomplished under capitalism, he does not,
of course admit.