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The Anaconda Copper Mining Company was created in 1881 by Marcus Daly working near Butte, Montana. Daly sought more financing from George Hearst, and as the mine prospered, Daly bought up more mines in the area. Butte became known as “the Richest Hill on Earth.” From 1892 to 1903, the Anaconda mine was the largest copper mine in the world. In 1895, the Rothschilds bought one-quarter of the stock in the company in an attempt to control it. However, Daly created the Amalgamated Copper Mining Company, which in 1899 acquired a majority share in the Anaconda Copper Company. Amalgamated Copper became one of the largest trusts of the twentieth century.

By the early 1900s, Amalgamated was making large profits, mainly due to the rapid electrification of ...

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