Congress Unanimously Nationalizes Copper — 'The Salary of Chile'

The Chilean Congress unanimously passes the constitutional amendment nationalizing the country's copper industry, expropriating US companies Anaconda, Kennecott, and Cerro. Copper accounts for 75% of Chile's export earnings. Allende calls it Chile's 'second independence'. The US companies demand $1.1 billion in compensation; Allende deducts 'excess profits' and offers nothing to Anaconda.