The corporation was one of the largest mining concerns operating in Upper Silesia, Poland, during interwar.
Giesche's Erben negotiated with Anaconda Copper Mining Corp. and W. Averell Harriman for a swap out of all Giesche capital stock of the new company called the Silesian-American Corporation; to be registered as the Silesian Holding Company in Delaware, United States.
The company had been under the supervision of the German 'Commissar' or trustee, Dr. Albrecht Jung, head of Giesche's Erben legal department.
Direct operations were maintained by Dr. Eduard Schulte, Giesche's Erben general manager, and his deputy, Dr. Lothar Siemon.
But Giesche's Erben realized they did not have absolute legal control so they attempted to own all capital stock of Silesian-American—without success.