Chilean Nationalization of Copper

The Chilean Nationalization of Copper was a 1971 government action that took control of the country’s copper industry from foreign companies, primarily U.S. firms, to ensure resource wealth benefited Chilean people. This move aimed to increase national revenue, reduce foreign influence, and promote economic independence. It marked a significant shift towards state-led resource management, allowing Chile to have greater control over its most valuable natural resource, copper. The nationalization became a symbol of Chile’s push for economic sovereignty and played a key role in its history and development.