History
Braden Copper Company was founded in 1904 by Barton Sewell and William Braden, who in 1905 bought the Chilean copper mine. Barton Sewell never visited Chile and was limited to participating in the business as an upper executive at the companies central offices in New York.
After Barton Sewell died in 1915, the Guggenheim brothers began to open new copper deposits in the north of Chile. They finished by taking control of the Braden Copper Company so that by 1916, 95 percent of the Braden Copper Company's stock was in the hands of the Kennecott Corporation, the Guggenheim brothers firm.
In 1935, the Braden Copper Company signed the World Copper Agreement along with the rest of the world's principle mining companies. In 1945, the company constructed the Braden Copper Stadium in the city of Rancagua, now called Estadio El Teniente. This stadium would be seat of the 1962 FIFA World Cup.
In accordance with the Chilean nationalization of copper, by 1967 the Chilean government had acquired 51 percent of the stock in the Braden Copper Company. By 1971, the company was completely nationalized.
Read more about this topic: Braden Copper Company
Famous quotes containing the word history:
“A poet’s object is not to tell what actually happened but what could or would happen either probably or inevitably.... For this reason poetry is something more scientific and serious than history, because poetry tends to give general truths while history gives particular facts.”
—Aristotle (384–323 B.C.)
“The history of reform is always identical; it is the comparison of the idea with the fact. Our modes of living are not agreeable to our imagination. We suspect they are unworthy. We arraign our daily employments.”
—Ralph Waldo Emerson (1803–1882)
“While the Republic has already acquired a history world-wide, America is still unsettled and unexplored. Like the English in New Holland, we live only on the shores of a continent even yet, and hardly know where the rivers come from which float our navy.”
—Henry David Thoreau (1817–1862)