Saturday, September 7, 2013

In Chile's Copper Boom, Miners Spread the Wealth

Bloomberg Businessweek: Spending by miners is so high that for each mining job created, three are generated elsewhere, says Mining Minister... Many of those additional jobs are in retail...  “Miners buy three to four perfumes when they come in, and they go for high-end brands like Carolina Herrera, Hugo Boss, and Paco Rabanne,”... Ditec Automoviles... plans to open its first Porsche showroom in Antofagasta in the heart of mining country within 12 months... Supermarkets in Chile’s northern towns now sell caviar and spider crab...

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