Braden Copper Company was an American company that controlled the El Teniente

copper mine Copper extraction refers to the methods used to obtain copper from its ores. The conversion of copper consists of a series of physical and electrochemical processes. Methods have evolved and vary with country depending on the ore source, loca ...

Chile Chile, officially the Republic of Chile, is a country in the western part of South America. It is the southernmost country in the world, and the closest to Antarctica, occupying a long and narrow strip of land between the Andes to the eas ...

until 1967 when its

copper Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pink ...

holdings were nationalized.

History

Braden Copper Company was founded on 18 June 1904 by E.W. Nash, Barton Sewell, William Braden and other mining partners. Braden visited the mine during the winter of 1903-1904. Using capital of $625,000, the company purchased the mine and developed a mill at Sewell, Chile. Production started on 1 June 1906. 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 City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

. After E.W. Nash died in 1905, Braden turned to John Hays Hammond and Guggenex, owned by the Guggenheim brothers, for financing. Braden Mines Company was formed on 10 July 1909. In June 1910, the Guggenheims took control of the mine and provided financing which turned the oxcart road into a railway, built a three-thousand ton mill and hydroelectric plants. Kennecott Copper Corporation acquired 99 percent of Braden Copper Mines Company in 1915. 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 Estadio El Teniente, also known as Estadio El Teniente-Codelco for sponsorship reasons, is a multi-purpose stadium in Rancagua, Chile. It is currently used mostly for football (soccer), football matches. The stadium can fit 14,087 people and was ...

. This stadium would be seat of the

1962 FIFA World Cup The 1962 FIFA World Cup was the seventh edition of the FIFA World Cup, the quadrennial international football championship for senior men's national teams. It was held from 30 May to 17 June 1962 in Chile. The qualification rounds took place ...

. 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. File:Mineral de cobre El Teniente - Breve relato de su historia, desarrollo y organización.pdf, Mineral de Cobre
"El Teniente" File:El Teniente Pueblo Hundido.jpg, El Teniente (before 1922)

References

Copper mining companies of the United States Mining companies of the United States Mining in Chile Defunct companies based in New York City Non-renewable resource companies established in 1904 Companies disestablished in 1967 1904 establishments in New York City 1967 disestablishments in New York (state) {{copper-company-stub

History

See also

References