Major New Copper Mine Under Construction in Arizona

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SUGAR LAND-October 20, 2006-Researched by Industrial Info Resources (Sugar Land, Texas). The first major new U.S. copper mine to be built in decades is under construction in Safford, Arizona. Phelps Dodge Corporation (NYSE:PD ) (Phoenix, Arizona) performed groundbreaking at the Safford mine site on June 12, 2006.

Copper metal price increases over the past two years have spurred development at copper mines in North America. Two other copper mines that had been closed since that late 90’s have restarted mining operations. Constellation Copper Corporation restarted the Lisbon Valley copper mine in Monticello, Utah, this summer, and Robinson Nevada Mining Company, a subsidiary of Quadra Mining Limited (Vancouver, British Columbia) restarted operations at the Robinson Copper Mine in Ruth, Nevada in 2004. For details see related news articles - Rocky Mountain Mining Industry Heating Up and Constellation Copper Resurrects Utah Copper Mining Project.

The Safford copper mine was first reported by Industrial Info in 1992, when it was owned by Azco Mining Incorporated, which sold its Sanchez property to Phelps Dodge in 1995. The project languished through extended permitting and market doldrums in the late 1990’s and early 2000’s, until today’s bullish copper market made the project economical once again.

The $550 million project received board approval in February 2006, followed by permit approval in July 2006. Phelps Dodge enlisted Fluor Canada Limited (Vancouver, British Columbia) to provide engineering and construction management services. The Safford copper project will incorporate two open pit copper mines (San Juan and Dos Pobres) with hydrometallurgical processing facilities to produce 250 million tons per year of cathode copper. The mine will incorporate the world’s largest super stacker system for the leaching operations.

Earlier this year, Aker Kvaerner Industrial Constructors (Tucson, Arizona) was awarded an $80 million contract to provide the crusher, conveyor, and solvent extraction electrowinning tankhouse. Nielsons Skanska Incorporated (Cortez, Colorado) is onsite providing civil and road construction.

The Safford mine is scheduled to be operating by late 2008 and will employ 1,000 contract laborers during peak construction activities in 2007.

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