World Copper Agreement

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The World Copper Agreement (also called International Copper Cartel) signed March 28, 1935, was an attempt to create a worldwide copper cartel. Uniting African, South American and European 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.

[edit] Signaturies to the agreement

• Union Minière du Haut Katanga (Katanga, Belgian Congo)
• Rhokana Corporation, Ltd. (Zambia)
• Roan Antelope Copper Mines, Ltd. (Zambia)
• Chile Exploration Co. (Chile)
• Andes Copper Mining Co. (Chile)
• Greene Cananea Copper Co. (Mexico)
• Braden Copper Company (Chile)

In addition to the above, the Compagnie Francaise de Mines de Bor and the Rio Tinto Company, Ltd. 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.

[edit] 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