Industrial and commercial South AmericaPeck, Annie S. (Annie Smith)
History
Industrial and commercial South America
Peck, Annie S. (Annie Smith)
South America; South America -- Economic conditions -- 1918-
=Other metals= existing in Chile are at present of less importance and
slight operation. A moderate gold output accompanies the production
of copper, and there is some placer mining, especially in the south.
Deposits are known to exist in many Provinces from Tacna to Tierra
del Fuego. Silver too exists, but its production is chiefly as a
by-product. Lead, zinc, molybdenum, and tungsten are exported in
limited quantities.
=Coal=, following nitrates, is of the first importance among ordinary
minerals, a source of large wealth though the production, about
1,700,000 tons yearly, is insufficient for the needs of the country.
Little is therefore exported and a good deal is normally imported from
Great Britain and Australia; until recently a little only from the
United States. Most of the mines in operation, owned by ten companies,
are near the ports of Talcahuano, Coronel, and Lota. The coal is not
equal in quality to the British, but it has been used by steamships,
railways, and mines with fair results. Coronel or Lota, five miles
apart on Arauco Bay, one or the other, is a regular port of call for
steamships. The Cousiño property at Lota was purchased in 1852 and
later was conducted by the son’s widow, under her administration the
greatest financial enterprise carried on by a Chilian. At her death
she was called the richest woman in the world, leaving a property of
$70,000,000. The capital of the company is $20,000,000. The mines are
one-fourth of a mile deep and extend under the sea, where there is good
rock and no drip. Here are streets, restaurants, offices, stalls for
horses, blacksmith shops, etc.
A British Company, the Arauco, in addition to coal properties operates
its own railway with 62 miles of main line and branches, besides
mining spurs. It has four daily trains from Concepción to Lota,
Coronel, and beyond, passing over the Bio-Bio River by a bridge of 1¹⁄₄
miles, the longest in South America. Of coal about 1¹⁄₂ million tons
are produced and as much more is imported.
=Petroleum= is believed by Chilians to exist in large quantities, but
the present development is infantile. It has been found in southern
Chile, on the Island of Chiloé and in the Patagonas district, as well
as in the north near the Bolivian frontier. Large quantities are
imported principally from Peru, normally about 400,000 tons a year.
Oil recently found in the Magallanes Territory is stated by experts
to be equal in quality to that found in Argentina. The extent of
the deposits seems to rival that of the famous fields of Comodoro
Rivadavia. Legislation to regulate the well drilling is proposed to
prevent inundation of deposits by subterranean streams, to restrict the
ownership to native Chilians or foreigners with Chilian families, and
to secure to the Government a 10 per cent royalty. A strong flow of
petroleum of great purity from a well about 300 feet deep has recently
been reported from Chiloé.
Public-domain text, read in full here on John Shaqi.
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