Washington Survey - Mineral Issues In Flux

Copper production has been under Government scrutiny for many years because it's known as a concentrated industry which in turn creates what many economists label administrative prices. Neither of these conditions is illegitimate, per se, the Federal Trade Commission and the Justice Department have said time and again. But Justice spoke up once more. This time over a Puerto Rican copper development planned by American Metal Climax, Inc., and the Kennecott Copper Corp. Bureaucratic Dichotomy Creates Confusion and Conflict In the Copper Industry Ian MacGregor, chairman and chief executive officer of Amax, said Justice in a recent communique questioned the propriety of the proposal of a joint copper venture in Puerto Rico. At the same approximate time, Dr. Hendrik S. Houthakker, chairman of the President's Commission on Copper, was urging copper producers to expand production to help hold down prices by making more copper available to all consumers. This, Mr. MacGregor said, is creating confusion and conflict, since the Administration from one source is chastising the industry for doing what another branch requests.