Market Analyst for Non Ferrous Metals And Non Metallic Minerals Journalist Min

Cover Market Analyst for Non Ferrous Metals And Non Metallic Minerals Journalist Min
Market Analyst for Non Ferrous Metals And Non Metallic Minerals Journalist Min
Simon David Strauss
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Eventually it was called Industrial Minera Mexico.
Swent: By then, Asarco was Asarco?
Strauss: No, it was still American Smelting and Refining Company.
Swent: Industrial?
Strauss: Yes. But the Asarco acronym was being used too a great deal.
Industrial Minera Mexico, IMM. There have been other corporate changes since then, but I won't go through them, because it's not really relevant.
The Mexican partners who had 51 percent insisted on taking over management, which was certainly appropriate, to
...accomplish the results the Mexican government wanted. For a time, as I think I said earlier, the market for Mexican mineral products outside of Mexico continued to be handled through the sales 153 office of Asarco in New York. We were paid a very modest commission by IMM to compensate us for the work we were doing for them, and to cover the cost of the commissions we in turn were paying our agents in overseas markets. But in the long run, eventually the Mexican management decided to take over direct sale, including sale of their lead and zinc in the United States.

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