One of the world’s biggest mining companies headquartered in the United Kingdom, is getting involved in a major copper exploration project south of here some 15 miles East of Mammoth, Arizona in northeast Pinal County and 70 miles northeast of Tucson. The site involves nearly 30 square miles of land.
Florence Copper Inc, is holding an open house Tuesday evening August 12th. The event will be held at the copper company’s downtown community office in the Town of Florence from 4pm to 6pm.Local residents, community leaders and business owners are invited to attend. Staff members of Florence Copper will be on hand to talk about the new copper mining project, answer questions and to sign up interrested persons for site tours.
Vancouver based Capstone Mining Corporation told stockholders last week it was looking into a possible new extension of the mine life of its Pinto Valley copper operations. Pinto Valley, which is an open pit mine west of the town of Miami located on some 1,000 acres of privately owned land, currently has 650 employees. It was originally believed to had a mine life of only 5 years by its previous owner BHP Billiton of Melbourne, Australia, which sold Pinto Valley to the Canadian company last October 11, for $650 million. Immediately after the sale, Capstone Mining conducted additional studies and drilling at its newly acquired property and later determined the local mine had a reserve life up to the year 2026.However, in a surprise announcement last week with the release of its 2nd quarter financial report, Capstone Milling said it now believes there is a potential to extend the mine life beyond 2026 if Mineral Resources not currently included in the Pinto Valley life of mine plan can be successfully converted into Mineral Reserves. To determine this, the company said it has recently started its Pinto Valley Phase 3 study. The first portion of this report is expected to be completed by the end of the current year. This will include high level mine plans, tailings storage and flow sheet analysis for various throughput expansion cases .Capstone presently has three operating copper mines. One is the Pinto Valley here in Arizona while the others are the Cozamin the Minto mines which are located in the countries Mexico an Canada.Shareholders were told Capstone’s net earnings for the quarter ending June 30 were $16.6 million ( U.S. ) and operating cash flow before changes in working capital was a record $56.5 million ( U.S. ). Production for the quarter for its three operating mines totaled 27,738 tons in copper concentrates in which 16,892 tons came from the Pinto Valley Mine along with 526 tons of copper cathodes. During the quarter the company said it was getting $3.36 for each pound of copper it sold.With these new figures released, the data in the quarterly report shows the Pinto Valley mine for the first half of this year produced 33,593 tons of copper concentrates along with 1,147 tons of copper cathodes at a cash cost of $2.10 per poundDarren Pylot, President and Chief Executive Officer of Capstone Mining Corporation said the second quarter financial results show a significant increase in cash flow driven by higher copper sales, primarily from Pinto Valley, coupled with consistent production from the Cozamin and Minto mines. He added “Year to date Adjusted EBITDA more than doubled over one year, demonstrating Capstone’s substantial growth over the last 12 months”
ASARCO LABOR TALKS
AUGUST 7, 2014
The United Steelworkers Union has issued the following statement about labor negotiations between ASARCO Management and eight unions seeking to reach a new three year wage package to replace the old contract that expired July 1st of last year. NEGOTIATIONS FOCUS ON HEALTH CARE, OTHER ITEMS | Last week, our committee met with Asarco/Grupo Mexico management for contract negotiations. The talks included an in-depth discussion of health care along with separate discussions about management rights, subcontractors and the attendance policy. Our committee also finalized language regarding personal protective equipment. We have not set a date for negotiations to resume, but expect to be able to do so after the USW International Convention in Las Vegas concludes.
RIO TINTO FIRST HALF PROFITS $5.1 BILLION
London Based Rio Tinto has announced first half 2014 earnings of $5.1 billion U.S dollars which is an increase of 21 percent over the same time period last year. The announcement was made by Chief Executive Officer Sam Walsh who said the company had an outstanding first half year and the results demonstrated the strength of our business. Walsh also told stockholders that Rio Tinto:Achieved $3.2 billion of sustainable operating cash cost improvements since 2012, exceeding the $3 billion reduction target six months ahead of schedule. Momentum in cost reductions is now expected to realize a further $1 billion of savings by the end of 2015.
Shipped record iron ore volumes, set production records for iron ore and thermal coal and delivered a strong operational performance in copper.
Increased cash flows from operations by eight per cent to $8.7 billion.
Reduced capital expenditure to $3.6 billion in the first half.
Decreased net debt by $1.9 billion in the first half to $16.1 billion at 30 June 2014.
This compares with $22.1 billion at 30
June 2013. Reduced adjusted total borrowings by $2.5 billion in the first half to $25.7 billion at 30 June 2014.
Increased interim dividend by 15 per cent to 96 US cents per shareRio Tinto is a global mining giant and the parent firm of the Resolution Copper Mining Company based in Superior, Arizona.
FREEPORT’S GRASBURG MINE TO SHIP COPPER TO CHINA ON WEDNESDAY August 5, 2014
Freeport-McMoRan Inc’s Indonesia unit will resume copper concentrate exports to destinations overseas by this Wednesday, August 6, after the company resolved a seven month old tax dispute with the government. According to the British Press, Freeport will be making an initial shipment of 10,000 tons of copper from its huge Grasburg Copper and Gold mine to China and this will be Freeport McMoRan’s first export shipment of copper this year. Indonesia’s new proposed export tax up to 65% was a move to force foreign mining companies to develop local mineral processing facilities in Indonesia such as smelters which would bring bigger returns to the government there.
RECENT MINING STORIES August 4, 2014
Early last month we told you very little time remained for Congress to take action on the two Resolution Copper Land swap bills which have sat dormant this year in the House and Senate. With the upcoming Primary and General Elections, Thanksgiving and Christmas Holidays, and depending on a “lame duck session” the reality is there could be only some 30 plus real working days days remaining for Congress to take action..Vancouver Based Capstone Mining Corporation on July 10th released its quarterly production report for the Pinto Valley Open Pit mine west of Miami. The company said during the 2nd quarter the mine produced 16,700 tons of copper concentrates which amounts to 33,600 tons so far for the year. Darren Pylot , who is President and Chief Executive Officer for Capstone Mining, said operations at Pinto Valley were now fully ramped up and essentially stabilized at targeted throughput rates so we can now direct all of our focus on continued cost and business improvements at Pinto Valley.It was on July 19 when the Arizona Department of Environmental Quality came out saying the State of Arizona would appeal new stringent regulations the Environmental Protection Agency plans to impose on the two copper smelters here in Southern Gila County and four other industrial operations in our state for the purpose of reducing regional haze over national parks such as the Grand Canyon and other federal lands in Arizona.Then , on July 22, Canada’s Copper Fox Metals Inc, said the verification drilling program at its Van Dyke copper project under the town of Miami had been completed. The company, which owns or controls some 1,100 acres of mineral rights in and around the town, reported six diamond drill holes (3,211.7m) were completed across the Van Dyke oxide copper deposit. Elmer Stewart, President of Copper Fox Metal, said all of these holes have been sampled for metallurgical testwork purposes and these tests are underway.Also on July 22, Freeport McMoRan Inc announced a smelter expansion project at its Miami operations that would increase copper production and also comply with new EPA standards. Upon completion of the project, the copper concentrate throughput for the Miami smelter would increase by approximately 30 percent to a capacity of 900,000 tons per year from the current average of 700,000 tons. A major component of the project is to install a new smelting vessel which, along with modifications to other facilities in the smelter, will allow for increased copper production. The additional concentrate to feed the expanded smelter will come primarily from Freeport-McMoRan’s Morenci (Arizona) and Chino (New Mexico) operations. The smelter will continue to be base loaded with concentrate from the Company’s Sierrita and Bagdad mines in Arizona.Freeport McMoRan, Inc issued its 2nd quarterly financial report to stockholders on July 23. The company said it had net income was $482 million for second-quarter 2014 Net income for the first six months of 2014 totaled $992 million compared with $1.1 billion for the first six months of 2013.The Arizona Department of Environmental Quality announced on July 24th ASARCO will be paying $40,000 in civil penalties under a consent judgment for illegally discharging more than one million gallons of water mixed with mill tailings into the Gila River in separate incidents two years ago near highway 177 in the Town of Kearny.On the following day , in its latest report to the Globe-Miami Community, Freeport McMoRan Miami said it had appoximately 1,000 workers in the Globe Miami area in addition to 250 contractorsOfficials of Florence Copper Inc, on July 26th, issued the following statement about its operations on the east side of the town of Florence: ” “We have over 1,400 resumes on file from talented, hard-working residents who want to work for Florence Copper. As you may know, we are waiting for one final permit from the Environmental Protection Agency called an Underground Injection Control Permit, which will allow us to start a small-scale Production Test Facility here in Florence. The facility will create about 25-30 jobs for the area requiring a variety of backgrounds .Once in full production, we will be hiring for approximately 125-150 additional full-time positions on site.”Later same day, Freeport McMoRan Inc broke the news its seven month dispute with the Indonesia government was over. The company said it had received approval from that government to immediately resume exports of copper concentrates from its huge Grasberg mine, the third largest copper mine in the world. Exports had been halted since early January. Freeport explained it had entered into a Memorandum of Understanding in which both sides agreed to negotiate an amended Contract of Work over the next 6 months . In addition, Freeport McMoRan Inc, was providing a $115 million assurance bond to support its commitment for smelter development in Indonesia along with paying increased royalties to 4.0% for copper and 3.75% for gold from the current rates of 3.5% for copper and 1% for gold. Although not mentioned by Freeport, reports in the British press said the Indonesia smelter project was in the neighborhood of two billion dollars.
RECLAMATION SPECIALIST POSITION 1700 West Washington, Suite 403 – Phoenix, Arizona 85007
The Reclamation Specialist is responsible for reviewing all reclamation plans to make sure all necessary information is provided. The plan has to be tracked within a time frame to meet statue requirements. This position works with consultants to see that all technical requirements are met. Public notification has several steps that are required by the State Mine Inspectors Office as well as working with other state agencies to make sure there are no duplicate matters with other agencies. There is a heavy amount of correspondence needed for every step of the process, along with contacting and working with mining companies to provide excellent customer service to those who cannot afford to hire professional consultants.KNOWLEDGE, SKILLS, & ABILITIES-Considerable knowledge of Federal, State and Local laws as they relate to mine reclamation and the Arizona Mined Land Reclamation Act -Working knowledge of the theory and practice of open pit areas -Advanced knowledge of excavation and filling methods and costs -Working knowledge of State standards for mine reclamation on BLM, Forest Service, and private lands -General knowledge of general metal mining reclamation practices -Ability to interpret maps and technical drawings related to mining -Ability to perform an analysis of reclamation plans as required in the plan review process -Advanced computer skills and knowledge of various peripheral devices, including mapping, and drafting of software applications -Skill and ability to analyze mine land reclamation plans and the ability to make recommendations regarding these plans -Advanced interpersonal skills that enable the employee to interact effectively and productively with representatives of industry and federal, state and local governmental agencies, including the Arizona Legislature -Proficient with Microsoft Office 2010 (Word, Excel, Access and OutlookVisit the website at www.asmi.state.az.us
KITCO.COM COPPER PRICES OVER 24 HOURS July 29, 2014
ASARCO HAS 21 LOCAL JOB ALERTS July 29, 2014
With some 1,450 persons working at its Hayden Smelter, Hayden Concentrator, and Ray Open Pit Complex, ASARCO currently has 24 job openings at its copper operations south of Globe-Miami. ASARCO is taking applications for the following employment opportunities.Hayden, 12 positions.Yard Laborer, 2 Pipefitter Welders at the Smelter, Pipefitter Welder at Concentrator, 2 Operation Supervisors at Concentrator, Manager Hayden Support, Maintenance Supervisor #1 at Concentrator, Maintenance Mechanic, Electrician at Concentrator, Concentrator Clean Up Laborer, Boilermaker at SmelterRay Open Pit Complex, 9 positionsSenior Instrument Technician, Senior Mine Engineer, Maintenance D. Lubeman, Maintenance Repair B Journeyman Mechanic Shovel/Drill, Repairman B at Truck Shop, Electrician, General Supervisor Operations Leaching SXEW, General Supervisor Operations Concentrator, Electrical Planner.All job descriptions and qualifications of applicants are on the company web page, ASARCO
Applicants can also apply on this web pageTed Lake firstname.lastname@example.org
PINTO VALLEY MINE: 23 ACTIVE JOB OPENINGS July 28, 2014
Capstone Mining Corporation, owner of the Pinto Valley Copper Mine west of the town of Miami is showing “23 Active Open Job Positions on its Web page.They are for Senior Benefits Specialist, Senior Human Resources Generalist, Supply Superintendent, HSEC Training Specialist, Human Resources Administrative Assistant, Contract Management Specialist, Processing Technical Trainer, Lab Tech, Mill X-Ray Tech, Machinist, Health and Hygiene Specialist, Contracts Administrative Assistant, Metallurgist, E and I Supervisor, Contract Specialist, Superintendent Mine Technical Services, Ore/Water Truck Driver, Instrument Technician, Pipefitter, Electrician, Mine Mobile Heavy Duty Mechanic, Concentrator Heavy Duty Mechanic, Maintenance Condition Monitoring Technician. Pinto Valley has 650 employees. Applicants can find details of these jobs on the web page and can apply on the company web page.
TAPLIN APPEARS BEFORE HAYDEN TOWN COUNCIL July 26, 2014
Andrew Taplin, Project Director for the Superior based Resolution Mining Company, appeared before the Hayden Town Council earlier this month and briefly discussed as to what is going on with the company’s proposed $6 million dollar deep underground copper mine northeast of the Town of Superior. Here is some of what he told the community leaders of Hayden:”Let me discuss the highlights of what’s been happening at Resolution Copper. Our most important development is that, in November of last year, we filed our Mine Plan of Operations with the U.S. Forest Service. Filing is a crucial step toward obtaining necessary permits for the mine. The plan represents the culmination of years of work done by Resolution Copper employees and some of the best consultants in the mining industry.The Forest Service is reviewing the plan and may ask us to modify it. Their review will take many months. When they’re done, the public will have opportunities to comment on it. You can see the plan we submitted on our website. When it’s available, we’ll publish the version released by the Forest Service, and we’ll let the public know how and when you can comment on it.
You’ll recall that last October, we had to suspend work on the No. 10 shaft because the heat we encountered was uncomfortable and unsafe for the workers. We’ve resumed work on sinking the shaft to our target depth of 6,943 feet. We’re getting there with the help of ventilation and cooling improvements and with workers from Cementation and Sundt. It will take about 90 workers to complete this task by the end of the year.This work is important as it will help us determine how we can mine most productively and efficiently at nearly 7,000 feet underground. The information we gather also feeds into the mine design and baseline studies, so finishing the shaft is an important step in creating long-term jobs. We anticipate spending another $1 billion to do all the work needed before we can ask for full project funding.
As we work toward opening the mine, we’ve continued to operate safely. In fact, in 2013, for the fifth time, our safety record was recognized by the National Mining Association’s Sentinels of Safety awards program. It’s important to us to send our employees home safe and sound each work day.Another front that you’ll see work is a continuation of reclamation work at the West Plant site. We already have spent more than two thirds of our $50 million budget for reclamation at this site, and much of that money has gone to Gila County-based contractors. The next step in reclamation is to remove historic tailings that are located in an area called the Lower Smelter pond. We will, of course, cover the area with clean fill or replacement soil and then revegetate it with a native seed mix.
MONTH INDONESIA-FREEPORT MCMORAN DISPUTE ENDS
July 26, 2014
The seven month long stalemate between the government of Indonesia and officials of Freeport McMoRan, Inc is over. This foreign government and the Phoenix based mining company have finally reached an agreement which now allows Freeport to once again to begin shipping copper and gold produced at its huge Indonesian Grasburg Mine, the third largest copper mine in the world, to customers elsewhere in the world.The dispute between the company and the government surfaced during the first of this year when Indonesian officials began demanding new export taxes up to 65% and commitments from foreign companies for billions of dollars to build copper smelters to operate in their country..Because of the situation, Freeport McMoRan Inc has not shipped since January of this year any copper concentrates taken from its 16,000 employee Grasburg Copper and Gold mine.in Indonesia. But that is all over now. Things started changing when early last week. when Reuters News reported a deal was the making for the Grasburg mine and officials of Freeport were making some concessions. Then on Friday , July 25, Freeport McMoRan Inc issued a statement announcing an agreement had been reached and the company has launched plans to start shipping copper concentrates to its overseas customers next month ( August ).The official announcement from Freeport’s Corporate headquarters in Phoenix said its subsidiary company operating the Grasburg mine had received approval from the Government of Indonesia to resume exports of copper concentrates. Freeport McMoRan Inc went on to say it will resume full operations immediately and concentrates exports from Indonesia are expected to commence in August, 2014The company had explained through its subsidiary operating the Grasburg mine, it had entered into a Memorandum of Understanding with the Government of Indonesia under which the Government and Freeport agreed to negotiate an amended Contract of Work , to be completed over the next six months, to address provisions related to the size of concession area, royalties and taxes, domestic processing and refining, divestment, local content, and continuation of operations post-2021.In addition, Freeport McMoRan Inc, is, to provide a $115 million assurance bond to support its commitment for smelter development and to increase royalties to 4.0% for copper and 3.75% for gold from the current rates of 3.5% for copper and 1% for gold.Among some of the other items, the Memorandum of Understanding provisions to be addressed in the negotiation of the Amended of Contract of Work include provisions for the development of new copper smelting and refining capacity in Indonesia which will take into consideration an equitable of sharing costs between Freeport’s subsidiary company operating the Grasburg mine and any partners in the project.Freeport and the Government will commence immediate negotiations for an amended Contract of work that is expected to be completed within six months. No terms of the Contract of Work other than the duties, smelter bond and royalties described above will be changed until the completion of the amended Contract of Work.Ted Lake email@example.com
UNIONS HOLDING RALLIES AS ASARCO LABOR TALKS RESUME July 26, 2014
Labor talks between ASARCO Mine Management and eight unions are scheduled to resume today ( Monday, July 28 ) in Tucson as efforts continue to try and reach a new three labor contract to replace the old wage package which expired July 1st of last year. The four ASARCO copper mines in Arizona along with the ASARCO ‘s plant near Amarillo, Texas have continued to operate since last year’s contract expiration. Nearly 2,400 workers have remained on their jobs under the terms of the previous agreement. It had been extended by labor and management with the option of a 15 day notice to terminate by either side.The United Steelworkers, which heads the 8 union negotiating committee, said before the start of today’s labor talks all eight unions will be holding what they call ” Rallies for a Fair Contract” during the early morning hours at the gates of ASARCO’s four copper mines in our state and also at the company’s processing plant in Texas. The mining operations are the Hayden Smelter and Concentrator, the Ray Open Pit Complex near Kearny, the Mission Mine and the Silver Bell Mine near Tucson. Reporters were being told told the union members will be rallying today with signs to send a message to the ASARCO/Grupo Mexico Management that ” despite the slow pace negotiations workers are stronger and more united than before.”
STATEMENT FROM FLORENCE COPPER ABOUT FUTURE JOBS July 26, 2014
Florence Copper, Inc has issued the following statement about future jobs opportunities with their proposed copper mine project to be developed on the east side of the town of Florence..”We have over 1,400 resumes on file from talented, hard-working residents who want to work for Florence Copper. We thank you for your patience. As you may know, we are waiting for one final permit from the Environmental Protection Agency called an Underground Injection Control Permit, which will allow us to start a small-scale Production Test Facility here in Florence. The facility will create about 25-30 jobs for the area requiring a variety of backgrounds.Once in full production, we will be hiring for approximately 125-150 additional full-time positions on site.After a draft of the Underground Injection permit is issued, there will be a review period that will require public comment. We appreciate your support during this time. Again, we thank you for your continued interest, and we hope to start the hiring process soon.”The company had said earlier the Florence Copper Project is expected to generate $3.3 billion in economic activity for the state of Arizona.
FREEPORT MIAMI HAS 1,250 WORKERS JULY 25, 2014
In its latest community report, Freeport McMoRan said it had appoximately 1,000 workers in the Globe Miami area in addition to 250 contractors. Freeport Miami is the second largest mining operation in our region as far as employees. ASARCO is the largest with more than 1,450 regular workers at its Hayden Smelter, Hayden Concentrator and Ray Mine Complex.Freeport also reported that the company continues to work on the Webster Lake #5 Tailings Pond and stockpile reclamation project. It was further announced that reclamation activities at the Miami Land Bridge and the #5 Davis Stockpile projects are set to resume early next year.
ADEQ SAYS ASARCO TO PAY $40,000 JULY 24, 2014
Asarco to Pay $40,000 in Civil Penalties for Illegal Discharges of More Than 1 Million Gallons of Tailings into Gila RiverPHOENIX (July 24, 2014) – The Arizona Department of Environmental Quality announced today that Asarco LLC will pay $40,000 in civil penalties under a consent judgment for illegally discharging more than one million gallons of water mixed with mill tailings into the Gila River in separate incidents two years ago.The first incident happened in June 2012 near Highway 177 in the Town of Kearny in Pinal County when a water line ruptured at the Asarco Ray Complex’s Belgravia Unit and spilled about 846,000 gallons. In the second incident, in August 2012, a water line ruptured about 50 feet away from the earlier site and about 373,000 gallons were spilled.ADEQ issued Asarco Notices of Violation on Sept. 6, 2012 and Nov. 11, 2012 for discharging without a permit in violation of the federal Clean Water Act, which is administered by the state under the Arizona Pollutant Discharge Elimination System program. The incidents also caused violations of the state’s surface water quality standards that require the water to be free of oil, grease and other pollutants that cause a deposit on a shoreline or aquatic vegetation or change the color of the surface water from natural background levels.At the time of the violations, the Belgravia Unit stored residual mill tailings atop a water supply pipe. Two natural drainages flow through the unit and discharge to the Gila River.In October 2013, ADEQ negotiated a Consent Order with ASARCO, LLC which included a compliance schedule to address these incidents and other water quality violations. Activities to address the issues at the Belgravia Unit were completed in April 2014.“These discharges should have been prevented,” said ADEQ Director Henry Darwin. “Since these incidents ASARCO has made improvements to the Belgravia Unit, which they finished earlier this year, by relocating the tailings and replacing the existing pipeline to prevent future releases.”The settlement is subject to court approval.
FREEPORT AND INDONESIA COPPER DEAL NEAR SAYS BRITISH PRESS JULY 24, 2014
The government of Indonesia is expected to issue U.S. mining giant Freeport-McMoRan Copper & Gold with a government permit to resume exporting copper concentrates in one or two weeks, a mining ministry official said on ThursdayAccording to Reuters News, while Indonesia is close to a deal with Freeport, there has been no progress in talks between the outgoing government and U.S. miner Newmont Mining Corp, which has filed for international arbitration over the country’s mineral export tax.
“The government’s position is we will face them in court,” said Sukhyar, director general of Business & Financial News, Breaking US & International News | Reuters.com and minerals at the mining ministry.Freeport McMoRan’s Chief Executive Officer, Richard Adkerson said after the company’s 2nd quarter financial results were released this week that he wanted to remind everyone that even though exports from the company’s huge Grasburg Copper and Gold mine in Indonesia have been held up, the ore will eventually be shipped out for sale on the world markets. So far this year , Adkerson said some 275 million pounds of copper and 380,000 ounces of gold sales have been deferred since issues with the Indonesia government development in January.
LATEST REGIONAL FREEPORT MINE JOB ALERTS
JULY 24, 2014
Freeport McMoRan Miami. Seeks Rod Production Operator, Line Electrician at Smelter, Smelter Diagnostic Mechanic, Supervisor Smelter Maintenance, LIMS Support Coordinator, Smelter Diagnostic Mechanic Steam Plant, Senior Process Engineer, Diagnostic Electrician, Smelter Project Engineer, Supervisor Electrical Maintenance, Smelter Repair Employee for Converter Maintenance, Diagnostic Electrician Rod Plant, Laboratory Technician at Rod Plant, Technical Instructor in Mine Heavy Equipment, Technical Instructor in Fix Plant OperationsFreeport McMoRan Safford. Seeks Process Engineer, Shovel Diagnostic Mechanic, Procurement Lead Person, Senior Metallurgist in Leaching, Chief Metallurgist in LeachingFreeport McMoRan Morenci. Seeks Senior Engineer is Plant Maintenance, Planner #1 Leaching, Planner #2 Leaching, Planner Maintenance Services, Utility Diagnostic Mechanic, Sampler Technician, Shovel Operator, Mill Certified Mechanic, Support Equipment Operator, Diesel Diagnostic Mechanic, Security Officer, Senior Geo-Technical Engineer, 2015 Summer Intern in Recreation, 2014 Fall Intern in Recreation, Senior Engineering Technician, Assistant Technical Instructor in Hydromet, Machinist MSD, Engineer #2 Mine Reliability, Planner #2 at Metcalf Mine, Coffee Shop Lead Person, Librarian, Boiler Maker Welder, Technical Services Superintendent.Freeport McMoRan Corporate Phoenix. Seeks Leave Management Representative, Manager Human Relations Compliance, 2014 Summer and Part Time Intern in Sales and Marketing, IT Asset and License Coordinator, Manager Global Network Operations, Sales Representative for Molybdenum, Senior Sales Representative for Molybdenum, Senior Mine Engineer, Systems Architect Data Base.( Note: Job alerts above are posted on the Freeport McMoRan web page which is http://www.fcx.com/ and can be found by clicking on careers and then going to the location of the mining operations sought. These postings include the complete job descriptions and required qualifications of candidates. Applicants can apply directly on the company web page
FREEPORT MCMORAN INC ISSUES QUARTERLY FINANCIAL REPORT July 23, 2014
In brief here is what stock holders were told today.Net income totaled $482 million for second-quarter 2014 compared with net income of $482 million for second-quarter 2013. Net income for the first six months of 2014 totaled $992 million compared with $1.1 billion for the first six months of 2013.Consolidated sales for second-quarter 2014 totaled 968 million pounds of copper, 159 thousand ounces of gold, 25 million pounds of molybdenum and 16.0 million barrels of oil equivalents. Consolidated sales for the year 2014 are expected to approximate 4.1 billion pounds of copper, 1.3 million ounces of gold, 98 million pounds of molybdenum and 58.4 million barrels of oil equivalents..Average realized prices for second-quarter 2014 were $3.16 per pound for copper (compared with $3.17 per pound for second-quarter 2013), $1,296 per ounce for gold (compared with $1,322 per ounce for second-quarter 2013)Operating cash flows totaled $1.4 billion for second-quarter 2014, and $2.6 billion for the first six months of 2014.At June 30, 2014, consolidated cash totaled $1.5 billion and consolidated debt totaled $20.3 billion. On July 23, 2014, Freeport McMoran, Inc redeemed $1.7 billion of the aggregate face amount of senior notes.
COPPER FOX METALS MIAMI DRILLING PROGRAM COMPLETED
July 22, 2014
VANCOUVER, BRITISH COLUMBIA– Copper Fox Metals Inc. and its wholly owned subsidiary Desert Fox Copper Inc. have announced that Desert Fox has completed the verification drilling program at its Van Dyke copper project in Miami Arizona and other corporate activities. The Van Dyke oxide copper deposit is located in the Globe-Miami Mining District, Arizona , mainly under the town of Miami, Copper Fox Metals owns or control some 1,100 mineral rights in, around and under the townThe Highlights of the Miami Drilling Program were described as follows:•Six diamond drill holes (3,211.7m) were completed across the Van Dyke oxide copper deposit,
•Broad intervals of copper oxide and copper carbonate minerals were intersected in all holes, The copper mineralization is hosted in intrusive breccia, Pinal schist and granite porphyry, •Two of the drill holes intersected weak quartz veinlet hosted chalcopyrite+/-molybdenite mineralization below the oxide copper mineralization,
Elmer, Stewart, President of Copper Fox said “The visual observations of the core from Van Dyke are encouraging. Receipt of the assays utilizing different copper analytical methodologies are required to determine if a resource estimation should be commenced. All holes have been sampled for metallurgical testwork purposes and these tests are underway.”
NEW PRESIDENT OF INDONESIA SEEKS MEETING WITH MINING COMPANIES July 22, 2014
Indonesia’s new President Elect, Joko “Jokowi” Widodo, says he wants to sit down with mining companies and other parties in a bid to resolve a row over mining policies that has halted $500 million of metal exports a month in Southeast Asia’s biggest economy. His comments are being carried in British Reuters News reports. Widodo is the the former Governor of Jakarta , who has a reputation for tackling entrenched interests, appeared to be a positive sign after an increasingly bitter dispute between the mining sector and the outgoing government.Until this year, Indonesia was the world’s top exporter of nickel ore and a major supplier of copper, iron ore and bauxite. But a ban in January on exporting unprocessed ore and an escalating tax on metal concentrates have paralyzed shipments. Freeport McMoRan, Inc has not been able to export any copper produced from its huge Grasberg Copper and Gold mine since early January because of the dispute.”First, I want to sit down with stakeholders, investors, regulators and with the people to know the problem and find a good solution for them. I want to know the details,” Jokowi said in an interview at his residence.
FREEPORT-MCMORAN MIAMI SMELTER EXPANSION PROJECT July 22, 2014
Freeport-McMoRan has announced a smelter expansion project at its Miami operations which will increase copper production and also comply with new EPA standards. Upon completion of the project, the copper concentrate throughput for the smelter will increase by approximately 30 percent to a capacity of 900,000 tons per year from the current average of 700,000 tons per year according to a report in the “Copper Town News “. The expanded smelter capabilities will comply with the new EPA ambient air quality standard for sulfur dioxide (SO2) emissions. A major component of the project is to install a new smelting vessel which, along with modifications to other facilities in the smelter, will allow for increased copper production. Much of the construction work will be related to emission control systems in order to capture virtually all fugitive gases and particulate emissions. The result will capture over 99 percent of the SO2 and other emissions from the Miami operations. The additional concentrate to feed the expanded smelter will come primarily from Freeport-McMoRan’s Morenci (Arizona) and Chino (New Mexico) operations. The smelter will continue to be base loaded with concentrate from the Company’s Sierrita and Bagdad mines in Arizona.
STATE TO APPEAL NEW TOUGHER EPA SMELTER RULES July 19, 2014
The State of Arizona plans to appeal new regulations that the Environmental Protection Agency plans to impose on the two copper smelters here in Southern Gila County and several other industrial operations in our state for the purpose of reducing regional haze over national parks and other federal lands in Arizona.It was on June 27th when the San Francisco office of the Environmental Protection Agency came out and said:”The U.S. Environmental Protection Agency is finalizing more stringent emission limits at six facilities in Arizona to improve visibility at 17 national parks and wilderness areas. EPA is finalizing a federal plan to limit emissions such as nitrogen oxides and sulfur dioxides at several facilities, including the TEP Sundt Power Plant in Tucson, the Lhoist North America Nelson Lime Plant in Peach Springs, the ASARCO Hayden Smelter, the Freeport-McMoRan Miami Smelter, the Phoenix Cement Clarkdale Plant and the CalPortland Cement Rillito Plant. As a part of this process, EPA also evaluated other sources but is not requiring any additional controls at this time.”In announcing the state of Arizona through its Arizona Department of Environmental Quality plans to appeal this decision by the EPA. Mark Shaffer, Media Relations Director for ADEQ said the Environmental Protection Agency did go through a public process when it proposed their federal implementation plan to reduce regional haze. He also stated his agency, Freeport McMoran and ASARCO all submitted comments.Shaffer states the Arizona Department of Environmental Quality intends to appeal the decision by the EPA to implement their plan for regional haze. He also notes the ADEQ is working with the sulfur dioxide National Ambient Air Quality Standards plan in both places, that this plan has not been proposed for public comment yet , but there will be a public comment period in the future.
FREEPORT TO CHANGE ITS NAME MONDAY
July 10, 2014Effective this Monday, July 14th, Freeport McMoRan Copper & Glold, Inc, will be officially changing its name to Freeport McMoRan, Inc. The Phoenix based mining giant is dropping Copper and Gold form its name because the company has expanded into the oil business.
PINTO VALLEY QUARTERLY PRODUCTION REPORT July 10, 2014
Capstone Mining Corporation of Canada, owner of the Pinto Valley Copper Mine west of the town of Miami has released production figures for the second quarter of this year at the local open pit mine..The company said during the first quarter the mine produced 16,700 tons of copper concentrates, while for the quarter just ended, this increased to 16,900 tons or 33,600 tons so far this year. Copper cathode produced at Pinto Valley for the second quarter was 500 tons compared to 600 tons for the first quarter.Darren Pylot , who is President and Chief Executive Officer for Capstone Mining said. “With operations at Pinto Valley now fully ramped up and essentially stabilized at targeted throughput rates we can direct all of our focus on continued cost and business improvements at Pinto Valley.”The company official went on to report ” Pinto Valley grade and recoveries more than offset lower than planned throughput. One of the six ball mills was down for 25 days in May, as a result of a gear failure. Repairs were completed by June 4, and the mill operated at capacity for the month of June.
LITTLE TIME LEFT FOR CONGRESS TO ACT ON RESOLUTION LAND SWAP July 8, 2014
Members of Congress are back to work this week in Washington, D.C. after taking a July 4th holiday break. But, they may not be working too long. With the upcoming Primary and General Elections, Thanksgiving and Christmas Holidays, the reality is there could be less than 30 days remaining for members of the House and Senate to take action while Congress is in regular session on key remaining legislative matters including the Resolution Copper Land exchange bills which have gone now where since last fall.According to its latest Calendar, the House of Representatives plans to be in session for only 28 work days up to the November 4, General Election. Members of the U.S. Senate are expected to meet around the same period of time. Both the Senate and House will be out of session during the entire upcoming month ( August ) so they can be in their home districts. After the November General Election, it is possible Congress could meet during a “lame duck session” lasting several weeks or less, or not at all..The two pieces of legislation needed to pave the way for a new $6 billion dollar underground copper mine east of the town of Superior were making progress in Congress last year under November came around, then things came to a standstill. H.R. 687 is the land exchange measure introduced jointly in the House by Democrat Congresswoman Ann Kirkpatrick and Republican Congressman Dr. Paul Gosar. Their bill, which had been approved earlier by a House Committee was set to go to the ” floor” for a vote of the entire House of Representative on November 14 of last year. However, at the last minute, it was pulled from the House Calendar and the vote was never taken and nothing has happen since similar legislation in the U.S. Senate ( S 339 ), introduced by Republican Arizona Senators John McCain and Jeff Flake, was able to get a hearing on November 20th of last year before the Senate’s Sub Committee on Public Lands, Forests, and Mining but has gone no where sinceIf these Resolution Copper land swap bills are not passed by Congress before the year 2014 runs out, each bill will die unless they are re introduced when the new Congress convenes in January , 2015. Similar proposed land exchange bills for the new copper mine have been left to die before by a U.S. Congress.
Several civic organizations such as the Southern Gila County Economic Development Corporation and the Globe-Miami Chamber of Commerce, and others have passed Resolutions supporting the new proposed mine. Outside of passing resolutions and attending community meetings, there apparently has not been organized campaigns by any local group in our community to launch a last minute effort to lobby members of Congress or committee members to get this legislation passed and sent on to the President before everybody leaves Washington, D. C..The Southern Gila County Economic Development Corporation in seeking the continuation of bed tax monies from the city of Globe in a presentation over a year ago told the Globe City Council it supported copper mining. However , it is interesting to note during a May 20th ADEQ public hearing in Miami where Freeport McMoRan was seeking changes in its Air Quality Permit so the company could move ahead to do several hundred million dollars in modification work at its Miami Smelter to meet tougher EPA requirements, there were not any public comments or letters of support coming from either the Southern Gila County Economic Development Corporation or the Globe-Miami Chamber of Commerce urging approval of the permit changes so this proposed major multi million dollar construction project in Globe-Miami could move forward..On Tuesday night ( July 8th ). 6pm the Globe City Council after its public hearing on its new fiscal year 2015 budget, more than likely will approve the new budget which also includes continuing bed tax monies for several entities including the Globe-Miami Chamber of Commerce and the Southern Gila County Economic Development Corporation who have told Globe city council members before they are supporters of copper mining in our community.
FREEPORT DISPUTE WITH INDONESIA STILL NOT RESOLVED July 3, 2014
Freeport McMoRan Copper & Gold is still in talks with the government of Indonesia over a six month dispute that has halted the company’s copper exports from there. Freeport has not been able to ship out of the country copper produced from its giant Grasberg Mine since early January because of new export curbs and escaling export taxes imposed by government authorities.According to the British press, Freeport’s Chief Executive Officer Ridhard Adkerson is still in Jakarta. Indonesia this week meeting with government officials trying to reach a deal to restart shipments of copper concentrates from the Grasberg mine to destinations over seas.
22 GRADUATE FROM SAN CARLOS MINE TRAINING INSTITUTE June 28, 2014
Now in its second year, the San Carlos Mine Training Institute on the San Carlos Apache Reservation is turning into a big success with the recent graduation of 22 students from two additional classes. The Institute is a joint program of the San Carlos Apache Tribe and Freeport McMoRan Copper and Gold .In Heavy Equipment Maintenance #2, the graduates are Richard Bead, Elvis Delma Senior, Loren Dia Senior, Donovan Dosela, Phillip Elgo, Crissy Goseyun, Jasper Hunter Junior, Tommy Jones, Loren Moses, Isaiah Polk and Jared Wilson.Graduates in the Institute’s Fixed Plant Maintenance Program #2 are Jay Antonio IV, Randy Bush, Garrett Bylas, Harding Haozous, Fabian Hill, Melissa Kindelay, Todd Lopez, Jason Miller, Percy Via III, Erick Walker and Robert Wilson Junior according to the San Carlos Apache Moccasin.
TOP OF THE PHOENIX LIST: HIGHEST-PAID CEOS June 28, 2014
Richard AdkersonRichard Adkerson collected $55.3 million in 2013 total compensation for his role as CEO of global mining giant Freeport-McMoRan Copper & Gold Inc. and that earned him the No. 1 spot in the Highest-Paid CEOs list published today by the Phoenix Business Journal.The list was ranked by total compensation. Adkerson’s pay package included $2.5 million in salary, nearly $15 million in stock awards and options, and $35 million to modify his employment agreement with the company to forego an even bigger payday should he have resigned or retired.Second on the list was Mobile Mini president and CEO Erik Olsson with $24.1 million in total compensation, including a $20.8 million stock option. Third on the list was James Moffett, the chairman of Freeport-McMoRan, with $21.8 million in total compensation.Phoenix Business Journal ReportEPA PLANS NEW TOUGHER LIMITS ON COPPER SMELTERS
The Environmental Protection Agency in San Francisco announced on Friday ( June 27 ) it was in the process of setting even tougher new limits on the operations of the two existing copper smelters here in Southern Gila County. They include the Miami Smelter owned by Freeport McMoRan Copper and Gold and the Hayden Smelter operated by ASARCO, a subsidiary of Grupo Mexico. Here is what the EPA news release said:SAN FRANCISCO – The U.S. Environmental Protection Agency is finalizing more stringent emission limits at six facilities in Arizona to improve visibility at 17 national parks and wilderness areas. EPA is finalizing a federal plan to limit emissions such as nitrogen oxides and sulfur dioxides at several facilities, including the TEP Sundt Power Plant in Tucson, the Lhoist North America Nelson Lime Plant in Peach Springs, the ASARCO Hayden Smelter, the Freeport-McMoRan Miami Smelter, the Phoenix Cement Clarkdale Plant and the CalPortland Cement Rillito Plant. As a part of this process, EPA also evaluated other sources but is not requiring any additional controls at this time.Ted Lake firstname.lastname@example.org
FREEPORT DECLARES USUAL QUARTERLY DIVIDEND June 15, 2014Freeport-McMoRan Copper & Gold Inc. (today declared a cash dividend of 31 1/4 cents per share payable on August 1, 2014 to holders of record as of July 15, 2014 for its common stock.
RIO TINTO IN $130 MILLION TAX DISPUTE June 24, 2014
Global mining giant Rio Tinto is in a tax dispute with the government of Mongolia from the operations of its $6.6 billion copper mine in that country. Mongolia’s Tax Authority claims Rio Tinto owes the government $130 million in unpaid taxes, which the London based company denies. Rio Tinto may need to seek resolution through international arbitration to resolve the dispute said a company spokesperson during an interview with Bloomberg. Superior Arizona based Resolution Copper Company which is proposing a $6 billion underground mine at Oak Flat is owned by Rio Tinto.
HOSTILE TAKE OVER OF ROSEMONT COPPER MINE OWNER ENDS June 24, 2014
A few months back, Augusta Resources Corporation of Canada found itself in a hostile take over battle with another Canadian company, Hudson Bay Minerals ( HudBay). Augusta has been involved in developing Arizona’s newest open pit copper mine, the Rosemont located 30 miles south of Tucson in the Santa Rita Mountains.What originally was a bitter fight between the two companies has ended with the announcement this week from each firm that Augusta Resources Corporation has agreed to a “Friendly Acquisition.”The joint announcement said Hudson Bay ( HudBay ) and Augusta Resources have entered into a definitive support agreement pursuant to which Hudbay has agreed to increase the consideration that will be received by Augusta shareholders under Hudbay’s offer to purchase all of the issued and outstanding shares of Augusta stock. The Revised Offer represents a total equity value of $555 million.Augusta Resources Board of Directors are unanimously recommending that Augusta shareholders accept the Revised Offer and has agreed to terminate Augusta’s Shareholder Rights Plan to permit shareholders to do so.Hudbay announced its company was looking forward to working with the board of management of Augusta to bring this transaction to a conclusion and to advancing the Rosemont Copper mining. project within Hudbay.
COPPER MINING JOB ALERTS June 24, 2014
Pinto Valley Miami ( Capstone Mining Corporation ) seeks Supervisor of Mine Production, IT Support Analyst # 1 , IT Support Analyst #2, Contract Management Specialist, Processing Technical Trainer. ASARCO Corporate Tucson seeks Accountant in Property Sales. Freeport McMoRan Corporate in Phoenix seeks Moly Sales Representative, Senior Process Leader in Supply Chain. Freeport McMoRan Miami seeks Accountant #1, Supervisor Smelter Maintenance, Diesel Diagnostic Mechanic at Miami Smelter, Smelter Repair Employee at Convertor. Freeport McMoRan Safford seeks Carpenter, Lab Technician, Supervisor Crusher Maintenance, Site Staffing Specialist, Supervisor Electrical Maintenance. Freeport McMoRan Morenci seeks Mercantile Associate at Conoco, Mill Maintenance Helper, Planner #2 at Maintenance Services, Utility Repair Employee, Truck Driver Trainee, Security Officer. ASARCO Hayden seeks Yard Laborer, two Pipefitter/Welders to work at Smelter, Pipefitter/Welder to work at Concentrator, Manager Hayden Support Operations, two Operators Supervisors to work at Concentrator, Maintenance Supervisor at Concentrator, Maintenance Mechanic, Electrician at Concentrator, Boilermaker at Smelter, and Concentrator Cleanup Laborer. ASARCO Ray seeks Supervisor of SXEW Operations, two Senior Supervisors of Operations, Metallurgical Engineer #1, Maintenance Repairman D Lubeman, Human Resources Supervisor Ray Mine, General Supervisor of Leach/SXEW Operations, General Supervisor of Concentrator Operations, Electrician, Electrical Planner
COPPER FOX REPORTS LOSS June 19, 2014Calgary based Copper Fox Metals, Inc which owns some 1,100 mineral rights in, around and under the town of Miami, Arizona has released its 2nd quarter financial results. The Canadian company said it had a net loss of $768,651 ( U.S. Dollars ) during the 90 day period. Copper Fox told stockholders the company had incurred some $795,304 in expenditures towards furthering the exploration of its Van Dyke copper deposit is under the town of Miami.Presently underway in the Miami area is Copper Fox’s diamond drilling program ( 6-8 holes approximately 5,000m ) to verify the hostorical estimates completed by Occidential Minerals Corporation in the 1970′s. The company said the first drill hole of the verification drilling program here was completed at a depth of 2,097 feet.. Intersected was a 167 meter thick zone with visible oxide copper minerals in the Pinal Scist and a lower interval of sulphone mineralization.
MIAMI SMELTER DECISION TO BE MADE BY EPA June 14, 2014The Arizona Department of Environmental Quality said on Friday that the Environmental Protection Agency will be making the final decision on whether or not changes requested by the Freeport McMoRan Copper in the operations of its Miami Copper Smelter will be approved. A spokesman for ADEQ, which is Arizona’s pollution watchdog agency , said the application package for An Air Quality Control Significant Permit Revision sought for the local copper smelter has now been sent to EPA to look over.
Staff members at the ADEQ in Phoenix reviewed the application earlier and are recommending approval be given to the copper company by the EPA. Freeport McMoRan filed for the permit changes in order to meet the federal Environmental Protection Agency’s new tougher air pollution regulations approved early last year by the U.S. Supreme Court. The company wants permit revisions which authorizes various upgrades to their emissions controls strategy for the Miami smelter facility to assist in complying with the new 1 hour sulfur dioxide ambient air quality standard set down by the EPA.A public hearing on the requested changes was held in the town of Miami last month on May 22nd. The ADEQ said it received no public comments made either in writing or orally from anyone about the major modifications sought in the operations of the Miami Copper Smelter.Too, it was surprising there were no letters or statements of support of the proposed permit revisions coming from either the Southern Gila County Economic Development Corporation or the Globe-Miami Chamber of Commerce which in the past have submitted comments pertaining to the ADEQ over mining company permit applications. Changes being proposed at the smelter operations here are apparently gong to result in a construction project costing several hundred million dollars.Ted Lake email@example.com
NEW JOB OPENING FREEPORT MCMORAN MIAMI – LIMS SUPPORT COORDINATOR—–FREEPORT MCMORAN MIAMI June 14, 2014•Continually monitor Company/laboratory information needs and design new or modify existing systems to meet changing requirements •Conduct a wide range of quality control tests and analyses to ensure that software meets or exceeds specified standards and end-user requirements. Assist in planning and scheduling testing and training •Process sample information and maintain records on LIMS database •Research, analyze, design and maintain laboratory computer systems in support of LIMS administration and projects •Serve as liaison with information systems staff in resolving programming and related problems •Execute moderately complex tests according to established plans and scripts, documents problems in an issue log and retest software corrections to ensure problems are resolved •Create test data files with valid and invalid records to thoroughly test program logic and verify system flow •Draft and revise moderately complex test plans and scripts •Recommend new equipment or software in support of Freeport objectives •Identify, recommend and implement changes to enhance the effectiveness of quality assurance strategies •Perform other duties as requiredMinimum Qualifications•Associate’s degree in appropriate discipline or two (2) years of related experience •Requires working knowledge of FMEMS standards, practices, and strategies •Requires knowledge and experience in MIMS/Ellipse, including all maintenance, operations, statistics, general, and related modules, tables, and files •Requires competency in use of MS Office software •Requires experience in Business Process Analysis and Mapping •Will require one or more of the following: Working knowledge of FM IS testing and migration policies and procedures; Working knowledge of Data Governance/Ownership/Audit policies and processes; Working knowledge of Electronic Publishing/Document Management/LinkOne •Must be able to lead project teams for both long and short term projects •Ability to communicate effectively at both the worker and management level
NEWMONT SUSPENDS INDONESIAN OPERATIONS AS MINERALS EXPORT ISSUE REMAINS UNRESOLVED 06-11-14
Newmont Mining has announced the suspension of operations at its Batu Hijau mines in Indonesia. This follows the halt in production and processing of copper concentrate at its Indonesian operations after its copper concentrate storage facilities were filled to capacity. The company had halted exports from Indonesia in January, as a law banning exports of unprocessed minerals from the country came into effect. Though last minute changes to the law permitted Newmont to export its copper concentrates, they imposed a 25% tax on exports which would rise to 60% by 2016. The company claimed that this tax violated the terms of its original investment agreement, or contract of work, with the Indonesian government. The company is engaged in negotiations with the government regarding the export duty, leading to resumption of its exports from the country. The company invoked the force majeure clause of its contract of work, in order to suspend operations, after its storage facility was filled to capacity and production could not be continued.
The suspension of production will impact Newmont’s quarterly and annual results, though the extent of the impact will be determined by the duration for which operations remain suspended.
Freeport-McMoRan Corporation currently has the following openings in Miami Rod Plant. Miami Rod Plant jobs vary from time to time based on our current openings. Please check back often for new Miami Rod Plant job openings to find a career that is right for you.
NEW PINTO VALLEY MINE JOB ALERT
June 6, 2014 Job Title: Lab Tech Job Number:PVM-2014-039 Position Summary: Reporting to the Lab Supervisor, the Lab Tech provides metallurgical support for the Pinto Valley Open Pit, Concentrator, and SXEW plant. Responsible for preparation of ore samples, process samples, and exploration samples. Position Responsibilities (including but not limited to): •Promote a safe work culture for employees and contractors. •Properly prepare, dry, and weigh samples. •Safely store and handle chemicals and reagents. •Apply mathematical principals including, weighted averages, simple averages, multiple decimal multiplication and division, etc. •Prioritize work to ensure lab deadlines and goals are met with minimal supervision. Job Requirements Position Requirements: •Previous sample prep or laboratory experience in an industrial, commercial, or non-industrial lab setting. •Basic use of Microsoft Office applications including Word, Excel, and Outlook. •Must be extremely organized for both sample integrity and time management. •Strong interpersonal and communication skills required. •Must possess Intermediate math skills necessary to perform accurate calculations. •Valid Arizona Driver’s License •Able to speak, comprehend, read, and write English The Ideal Candidate will have: •Previous experience in an Open Pit and / or Concentrator lab. •Associate’s Degree as a Lab Technician a plus. OLD PHILLIPS MINE CAMP DEMOLISHED
June 4, 2014 The historical Phillips mining camp 45 miles north of Globe along the south side of the Salt River Canyon has been demolished by the U.S. Forest Service. Demolition work started several weeks ago at the old asbestos mining operations which sat on mining claims located on Forest Service Land nearly 80 years ago. Six buildings at the site had been part of the Phillips underground asbestos mining operations since its hey days in the 1940′s and 1950′s but they remained empty all of these years every since the 1962 murder of mine owner Guy Phillips.
Guy and Ruby Phillips Home These structures have now removed and have been buried in a large nearby underground pit which will be capped. Only the concrete foundations remain at the site Gone is the home once occupied by Guy and Ruby Phillips who were well known local residents here during this period of time. Also demolished and buried were the mine’s office building, the dorm which housed the asbestos workers, the mine shop.including a shed and a storage building. Brad Johnson, Globe District Ranger for the Tonto National Forest said the site was cleared of the old asbestos workings along with the badly deteriorating buildings for health and safety issues after a lengthy evaluation was made of the situation. Johnson said the U.S. Forest Service Road from Seneca Lake extending northwest along the South side of the Salt River Canyon was not closed off and remains open. Also see the related story we reported in July 2013 HERE Ted Lake firstname.lastname@example.org FREEPORT DISPUTE WITH INDONESIA STILL UNRESOLVED AFTER 6 MONTHS
June 2, 2014 Freeport-McMoRan Copper & Gold’s Chief Executive Officer Richard Adkerson is in Jakarta, Indonesia this week to try and resolve the Phoenix based mining company’s 6 month impasse with the government there over exports from Freeport’s giant Grasberg copper and gold mine that came to a halt last January. The British Press said a spokeswoman from Freeport declined to provide details of Adkerson’s visit this week. It was in January when the government of Indonesia levied an escalating tax on copper concentrate exports as part of efforts to force mining companies operating in their country to build smelters and processing industries there. . Freeport McMoran and Colorado-based Newmont Mining Corp, accounting for 97 percent of the country’s copper output, have said these new rules conflicted with their mining contracts that exempted the companies from the new announced taxes and duties According to Reuters News, the newly appointed Chief Economic Minister of Indonesia said last week the issues would be resolved next week with the Freeport McMoRan management in Jakarta and that exports could restart soon. The government claims its minerals policies are a success, with a spike in nickel prices and 66 smelter projects in the pipeline.. Also, Freeport McMoRan and Newmont Mining are currently in talks with Indonesia’s state-owned PT Aneka Tambang (Antam) to build a $2.2 billion copper smelter there, but plans for the project are yet to be finalized. Both Freeport and Newmont had agreed to pay deposits worth a total of $140 million to the government to guarantee their commitment to the smelter, according to information released by the country’s Coal and Minerals Director. The Indonesia government has set new 2014 copper concentrate export volumes of 600,000 tons for Freeport McMoRan and 250,000 tons for Newmont, worth around $1.5 billion, which is roughly half the government’s previous target Ted Lake email@example.com LATEST UNION STATEMENT ON ASARCO TALKS
May 28, 2014 The head union of a 6 union bargaining committee seeking a new three year contract with ASARCO has issued the following statement which comes from the United Steelworkers Union. “After many months at the table, Asarco/Grupo Mexico is still seeking concessions on a number of issues that are important to union members and our families. Despite management’s continued insistence on unfair and unnecessary changes to our contract, your committee is optimistic that we will be able to reach a fair agreement. Concessions should not be necessary for union-represented employees at Asarco/Grupo Mexico, as the price of copper on the London Metals Exchange remains close to $3.50 per pound. Although the year anniversary of our previous contract expiration is approaching on July 1, our contract remains in full force and effect. While negotiations have slowed, we continue to work with a contract extension subject to a 15-day notice for either side to terminate. |Our Healthcare subcommittee is still trying to arrange dates to continue discussions about health insurance. As reported in previous updates, Asarco/Grupo Mexico management has proposed radically increasing insurance costs for all hourly employees. Note: The old wage package between the unions and ASARCO expired on July 1st of last year. However, both the unions and management agreed to honor the terms of the old contract, allowing the ASARCO mines in our state to continue to operate while both sides have been working for some ten months in efforts to reach a new labor agreement. Ted Lake firstname.lastname@example.org RESOLUTION COPPER LOOKING AT MINE TAILINGS SITE NORTH OF SUPERIOR
May 23, 2014 Officials of the Tonto National Forest have announced they are seeking public comments on the “Baseline Hydrological and Geotechnical Data Gathering Activities” proposed by Resolution Copper Mining Company on Tonto Forest lands located some 6 miles northwest of the town of Superior which involves portions of some 18 land sections. The written comments are being taken starting May 24, 2014 through June 23, 2014 . All written comments are to be submitted to Tonto National Forest Supervisor, Neil Bosworth , 2324 East McDowell Road, Phoenix, Az 85006. Or they can be faxed to his attention at 602-225-5295. Written, facsimile, hand-delivered, and electronic comments will be accepted. The staff of the Tonto National Forest will be holding a public open house to discuss Resolution Copper’s proposed project. It will be held on Tuesday. June, 10, from 5 to 7 pm in the Multi-Purpose Room at Superior Junior/Senior High School located at 100 Mary Drive in the Town of Superior. An electronic copy of Resolution’s proposed Baseline Activities Plan is available on the Forest Service website According to information presented by Resolution Copper, the purpose of the proposed activities on local Forest Service lands involved (all located in Pinal County), is to collect hydrologic, geochemical, and geotechnical data in order to provide baseline information on these aspects of the environment over an area being considered for a potential tailings storage site relate to “Resolution’s General Plan of Operations. “The General Plan” can be seen by interested persons on the company’s web page Ted Lake email@example.com NEW RESOLUTION COPPER PROPOSAL: FOREST SERVICE SEEKS PUBLIC COMMENTS
May 21, 2014 Officials of the Tonto National Forest have announced they are seeking public comments on the” Baseline Hydrological and Geotechnical Data Gathering Activities” proposed by Resolution Copper Mining Company on Tonto Forest lands located some 6 miles northwest of the town of Superior which involves portions of some 18 land sections.. The written comments are being taken starting May 24, 2014 through June 23, 2014 . All written comments are to be submitted to Tonto National Forest Supervisor, Neil Bosworth , 2324 East McDowell Road, Phoenix, Az 85006. Or they can be faxed to his attention at 602-225-5295. Written, facsimile, hand-delivered, and electronic comments will be accepted. The staff of the Tonto National Forest will be holding a public open house to discuss Resolution Copper’s proposed project. It will be held on Tuesday. June, 10, from 5 to 7 pm in the Multi-Purpose Room at Superior Junior/Senior High School located at 100 Mary Drive in the Town of Superior. An electronic copy of Resolution’s proposed Baseline Activities Plan is available on the Forest Service website According to information presented by Resolution Copper, the purpose of the proposed activities on local Forest Service lands involved ( all located in Pinal County ), is to collect hydrologic, geochemical, and geotechnical data in order to provide baseline information on these aspects of the environment over an area being considered for a potential railings storage site relate to “Resolution’s General Plan of Operations. “ The General Plan can be seen by interested persons on the company’s web page. Ted Lake firstname.lastname@example.org FREEPORT MCMORAN MIAMI ANNOUNCES 2ND OPENING FOR STUDENT INTERN
May 16, 2014 2014 SUMMER INTERN IN ENVIRONMENTAL ENGINEERING Description Under general supervision, provides technical support and guidance for environmental projects and programs at assigned site for the Environmental Department. Assists in the installation, operation, and maintenance of environmental and emission monitoring instruments and testing equipment necessary to determine air, land, or water pollution levels Assists in performing hazardous waste site inspections and collaborates in recommending appropriate action to management in compliance with regulations Assists with the monitoring of solid waste such as drums, hazardous materials collection sites and reclamation sites Ensures proper labeling of solid waste and hazardous materials Installs and sets-up instruments and equipment Operates and monitors a wide variety of sampling and data gathering equipment Maintains current knowledge of site environmental policies and procedures Performs other duties as required Qualifications Full-time student at the sophomore level or above currently enrolled at an accredited four-year university majoring in an appropriate Environmental Engineering discipline or closely related field. OR Recent college graduate having graduated within 12 months prior to internship start date in Environmental Engineering or closely related field Proficient in the use of Microsoft Office applications including Outlook, Word, Excel, and PowerPoint Possesses strong data analysis and problem solving skills Highly accurate and detail oriented Possesses strong oral and written communication skills Demonstrates initiative, organizational skills and ability to work well under pressure Demonstrates ability to collaborate and work effectively in a team environment Must be able to demonstrate our core values of honesty, fairness, respect, trust, and integrity Preferred Qualifications None Criteria/Conditions Work is in an office, mine, or manufacturing plant setting, which may include exposure to extremes in temperature and humidity, moving mechanical parts, risk of electrical shock, toxic chemicals, explosives, fumes or airborne particles While performing the duties of this job, the employee is regularly required to stand, sit, demonstrate manual dexterity, climb stairs and ladders, work on elevated platforms, talk, hear and see Occasionally may be required to lift moderately heavy objects up to (30) pounds during the course of the workday. Personal protective equipment is required when performing work in a mine, outdoor, manufacturing or plant environment, including hard hat, hearing protection, safety glasses, safety footwear, and as needed, respirator, rubber steel-toe boots, protective clothing, gloves and any other protective equipment as required Freeport-McMoRan Copper & Gold promotes a drug/ alcohol free work environment through the use of mandatory pre-employment drug testing and on-going random drug testing as per applicable state laws. Ted Lake email@example.com FREEPORT ANNOUNCES MIAMI INTERN OPENING
2014 Summer Intern Human Resources Miami AZ May 16, 2014 Freeport-McMoRan’s internship program is tailored to students and recent graduates with mining-related degrees. Internships typically run mid-May thru mid-August as well as the fall and spring semesters. Our intern program has been referred to as one of the top programs in the mining industry. By providing structure and access to top minds and technology in mining today, our internship will provide you the skills and experience to help prepare you for a successful career. Duties of Intern Human Resources Under general supervision, assists with variety of HR related projects based on site location. Assist with various HR projects Assist with the investigation and counseling process Assist in the preparation for problem solving and arbitration proceedings Work with the HR administration team on various projects Perform other duties as required Qualifications: Full-time student at the sophomore level or above currently enrolled at an accredited four-year university majoring in an appropriate Human Resources or Business discipline or closely related field; OR Recent college graduate having graduated within 12 months prior to internship start date in Human Resources, Business or closely related field Proficient in the use of Microsoft Office applications including Outlook, Word, Excel, and PowerPoint Possesses strong data analysis and problem solving skills Highly accurate and detail oriented Possesses strong oral and written communication skills Demonstrates initiative, organizational skills and ability to work well under pressure Demonstrates ability to collaborate and work effectively in a team environment. Must be able to demonstrate our core values of honesty, fairness, respect, trust, and integrity Preferred Qualifications: Criteria/Conditions Work is in an office, mine, or manufacturing plant setting, which may include exposure to extremes in temperature and humidity, moving mechanical parts, risk of electrical shock, toxic chemicals, explosives, fumes or airborne particles While performing the duties of this job, the employee is regularly required to stand, sit, demonstrate manual dexterity, climb stairs and ladders, work on elevated platforms, talk, hear and see Occasionally may be required to lift moderately heavy objects up to thirty (30) pounds during the course of the workday Personal protective equipment is required when performing work in a mine, outdoor, manufacturing or plant environment, including hard hat, hearing protection, safety glasses, safety footwear, and as needed, respirator, rubber steel-toe boots, protective clothing, gloves and any other protective equipment as required Freeport-McMoRan promotes a drug/ alcohol free work environment through the use of mandatory pre-employment drug testing and on-going random drug testing as per applicable state laws Ted Lake firstname.lastname@example.org TOP JOB OPENS AT RESOLUTION COPPER IN SUPERIOR
May 15, 2014 London Based Rio Tinto Group, owner of the Resolution Copper Mining Project, has just announced the opening of a key job position at its Superior operations. Here is what the company announced.. The Job Opening
We are looking for a Principal Advisor – Project Controls & Estimating, residentially based in Phoenix, Arizona, to support the General Manager – Studies in evaluating project development options, developing and implementing estimating standards, and completing the related studies. What The Role Entails
Reporting to General Manager – Studies, you will be responsible for: • Developing estimating standards and guidelines that meet or exceed Rio Tinto requirements while developing overall estimate execution plans • Working closely with Resolution Copper Mine (RCM) Engineering and project managers to act as the primary client and owner of all RCM cost estimates • Managing the execution of the cost estimation by external and internal resources to ensure the completion of quality estimates in a timely and cost efficient manner • Involving internal and external stakeholders in the estimating process and communicating in a clear and concise manner the key issues identified and progress made on completing the cost estimating work • Managing the relevant estimating consultants to ensure that the estimates are adequately resourced and estimates are developed to a consistent high standard that provides on-going value to Resolution and Rio Tinto • Striving for a continuous improvement culture through their project controls responsibilities and ensuring site specific information is collected and applied in future cost estimates • Allocating budget to committed funds and ensuring costs and commitments are recorded in assigned code of accounts or WBS • Maintaining a forecast to complete and identify potential cost trends, scope changes and recommend potential mitigations What You Will Need For This Role
To be successfully considered for this role, you will have: • Bachelor’s degree in engineering, project management or a related field • Minimum 10 years of multidiscipline estimation experience on capital projects in mining and construction • PMP certification (Preferable) • Knowledge of Office suite and experience with Prism and P6 Software (Advantageous) Candidates internal to the Rio Tinto Group must advise their managers of their application prior to progressing to the interview stage Applications close Wednesday, 28 May 2014. Equal Opportunity Employer Rio Tinto participates in E-Verify to confirm work authorization. Please visit http://www.uscis.gov/ for more information Ted Lake email@example.com COPPER FOX ADDS SECOND DRILL HOLE TO MIAMI PROJECT
May 15, 2014
Vancouver Canada based Copper Fox Metals Inc and its wholly owned subsidiary Desert Fox Copper Inc have release an updated report on their progress of the verification drilling program at its Van Dyke copper project in Arizona. The Van Dyke oxide copper deposit is located under the town of Miami, Arizona. The company owns/controls 1,100 acres of mineral rights in, around the town of Miami. Copper Fox Metals said its first diamond drill hole has been completed to a depth of 2,097 feet in the vicinity of the old Van Dyke mining company head frame and intersected a 167 milmeter thick zone with visible oxide copper minerals in the Pinal Schist, this interval corresponds to the original hole drilled by Occidental Minerals Corporation. Company officials said its first drill hole ended in a weakly mineralized vein and fracture. The company said a decision was made to add a second diamond drill to work on this project.. Drilling for the second exploration hole was expected to begin this week. Elmer Stewart, who is President of Copper Fox Metals, said this “Second diamond drill allows acceleration of the verification drilling program by increasing our production rate per day and at the same time decreasing our overhead costs per meter drilled. The occurrence of weakly mineralized schist and intrusive porphyry at the bottom of the first drill hole is encouraging, however, until the analytical results from the sampling completed within this zone are received, it is difficult to place any significance on this mineralization. Ted Lake firstname.lastname@example.org NEW JOB OPENINGS IN SUPERIOR
May 13, 2014 Major Drilling America, Inc. is looking for Driller Helpers in the Superior, AZ and surrounding areas. Must commit to working safely, have current driver’s license without major infractions in last three years, able to pass fit for duty and drug test, enjoy working outdoors and adapt to nomadic lifestyle, not afraid of working at heights of 60 feet, compatible with others, able to work 12 hour shifts, and have mechanical background and aptitude. Please apply at www.MajorDrilling.com under U.S. Opportunities. COPPER JUMPS TO $3.15 A POUND THEN DROPS A PENNY
May 13, 2014 It was on May 1st when copper prices started to take a swing upwards from $3.02 a pound to hit a high of $3.15 a pound late Monday ( May 12 ) then declining one cent to $3.14 a pound early Tuesday afternoon ( May 13 ). Big metals stocks. particularly BHP Billiton, Rio Tinto, Freeport McMoRan Copper Gold along with Capstone Mining Corporation all advanced substantially on Wall Street coinciding with the sudden rise in Copper Prices that hit on Monday. Rio Tinto stock advanced the most on Monday which was up more than 4%. The New York Times points out copper prices are now at a two month high and it is all because the country of China, the world’s largest consumer of Copper, has just unveiled a new plan to spark the economic growth in the Asian county which investors like Concerns about China’s demand for copper have whipsawed prices for the industrial metal this year. Prices slid to the lowest level in nearly four years in March and they are now up 6.4% from that low. China’s State Council, according to New York press reports, has just released a series of guiding principles for revising the country’s financial markets, pledging to reduce regulation, ease the way for local companies to access foreign capital and overhaul the system for initial public offerings. James Cordier, founder of Liberty Trading Group in New York, was quoted as saying. ” China is the only game in town for copper these days. It appears the leadership is serious about not letting their economy contract too much and that puts a real floor under copper prices.” CAPSTONE MINING REPORTS $4.4 MILLION FIRST QUARTER LOSS
May 7, 2014 Vancouver based- Capstone Mining Corporation has released its financial results for the three months ended March 31, 2014, posting a loss of $4.4 million due to a non-cash ore stockpile write-down. Operating cash flow before changes in working capital was $47.1 million compared to $20.1 million in the first quarter of 2013. Copper production for the quarter at Capstone’s three operating mines, Pinto Valley ( Arizona ), Cozamin ( Mexico ) and Minto (Canada ), totalled 27,644 tons of copper in concentrates and cathode (26,635 tons of payable copper) at a cash cost(1) of $1.89 per payable pound of copper produced In regards to its newly acquired Pinto Valley Copper mine west of the town of Miami during the first quarter of this year Capstone said the operation: Produced 16,701 tons of copper in concentrates and 621 ton of copper cathode at a cash cost) of $2.06 per pound of payable copper, a 20 cent per pound reduction relative to the fourth quarter of 2013. Stockholders were told this trend is expected to continue as the operation completes its ramp-up, begins to take advantage of the conversion to its own operating system at the end of February and gathers momentum from productivity improvement initiatives begun following the transaction in the fourth quarter of last year ( 2013 ). The company noted that it completed the Pinto Valley Phase 2 prefeasibility study in March of this year extending the mine life at Pinto Valley to the year 2026, at an average annual production of 54,200 tons of copper in concentrate and 2,900 tons of copper cathode, at a cash cost of $2.00 per pound. Darren Pylot, President and Chief Executive Officer of Capstone Mining Corporation said “With all three of our mines operating very well in the first quarter, we generated operating cash flow before changes in working capital of $47 million.” He also stated “That strong cash flow allowed us to reduce our net debt to $175 million, while retaining a cash balance of $136 million.” Pylot had more to say about the company’s Pinto Valley copper operations in that “We have marked a significant milestone in the first quarter with the Pinto Valley pre-feasibility study extending the mine life an additional eight years to 2026, “With the mine life confirmed and the operation now stabilized at its targeted run rate, we can fully turn our attention to efficiencies at the mine and commence our planning for the potential long-term operation beyond 12 years.” Ted Lake email@example.com
NEW JOB AT PINTO VALLEY: CAPSTONE SEEKS MILL X-RAY TECHNICIAN May 7, 2014 Job Title: Mill X-Ray Technician Job Number: PVM-2014-033 Position Summary: Reporting to the Metallurgist, prepares and ensures proper chemical analysis of samples and is responsible to ensure proper maintenance of the X-Ray analyzers. Other duties as assigned. Position Responsibilities (including but not limited to): Prepare and analyze samples. Prioritize workloads to ensure operational ability to quickly address deviations. Properly and safely apply methods and utilize various laboratory instrumentation. Job Requirements Position Requirements: High School diploma or GED. Proficient in Microsoft Office including Outlook. Strong interpersonal and communication skills. Able and willing to work rotating shifts The Ideal Candidate will have: One year or more of experience in Mill Concentrator Operations One year or more of experience in X-Ray sampling and sample prep This position will be based at the Pinto Valley Mine near Miami, Arizona. Ted Lake firstname.lastname@example.org
FREEPORT APPROVES DEAL TO RAISE $3.1 BILLION TO HELP CUT DEPT May 7, 2014 Phoenix base mining giant Freeport-McMoRan Copper & Gold Inc. has announced its oil and gas subsidiary, Freeport-McMoRan Oil & Gas has entered into a definitive purchase and sale agreement to sell its Eagle Ford Shale assets for $3.1 billion to a subsidiary of Encana Corporation of Canada. The Eagle Ford Shale property is in Texas and consists of approximately 45,500 net acres with estimated net proven reserves totaling 59 million barrels of oil equivalent . The company said it estimates after tax net proceeds from the transaction will be around $2.5 billion. According to Freeport officials, approximately one half the proceeds will be used to repay outstanding indebtedness and the balance is expected to be used for investments in additional assets in the deep water of the Gulf of Mexico to accelerate the company’s growth initiatives. As of March 31st, Freeport reported earlier its debt was $20.9 billion Company officials said this transaction represents an important step in our ongoing debt reduction plan while providing additional capital to enhance our portfolio of assets with superior margins and growth characteristics. Ted Lake email@example.com The Story of the Arizona Mining and Mineral Museum
May 6, 2014
The Arizona Mining and Mineral Museum left a collection of memories in the minds of its visitors, volunteers and staff after it closed in 2011 to make way for a centennial-themed museum that never got funded. Hundreds of specimens from private collections once on display are back with their owners, and the state’s mineral collection of more than 20,000 specimens has spread to museums across the state. The museum’s moon rock, 200-pound meteorite and 8-foot-long hunk of copper can no longer be viewed by the schoolchildren who once flocked to the museum – more than 25,000 of them in fiscal 2010. The doors on 1502 W. Washington St. remain locked, though a 12-foot-tall mining truck tire and a 19th century stamp mill for crushing gold in front of the building still appear to beckon visitors inside. And three years later, passionate individuals still remember the museum, still feel frustrated with the state for closing it and still wish there was a way to bring it back. The Arizona Mining and Mineral Museum started as a mineral exhibit at the Territorial Fair in 1884, and it was so popular that the state Legislature allocated funding for the exhibit to gain its own building at the state fairgrounds in 1917 . Seventy years later, the building on the fairgrounds had become dilapidated, moldy and prone to floods. So in the early 1990s Gov. Rose Mofford and Rep. Polly Rosenbaum, who had both lived in the mining city of Globe, pushed successfully for the state to purchase what had been the El Zaribah Shrine Auditorium and give the old museum a new home . “We packed all the minerals up, put them in boxes and carted them all over to the new building,” said Doug Duffy, who worked part-time there with his wife, Shirley Cote, for more than 20 years. “We repainted all the cases, fixed everything up and got everything started again.” But by February 2010, a new fate had been set for the museum. Gov. Jan Brewer gave a speech there to announce that it would become the Arizona Centennial Museum, describing it as her birthday gift to Arizona. This new Centennial Museum will be a vibrant, interactive facility, offering state-of-the-art technology and exhibits unlike any in Arizona,” she said in a news release. Plans for the new museum called for renovations to the building and centered on Arizona’s Five C’s: copper, cattle, climate, citrus and cotton. “This facility will feature educational profiles of each industry, showcasing the rich heritage of Arizona’s economy and providing a vision of its brilliant future,” Brewer said in the release. But these plans foundered during the Great Recession when the Arizona Centennial Commission, tasked with funding the building through private donations from industries in the Five C’s, couldn’t raise the money. Karen Churchard, former director of the Centennial Commission and assistant deputy director at the Arizona Office of Tourism, said the commission started fundraising for the museum in fall 2010. But over the course of two years it could only raise $1.75 million from the copper company Freeport McMoran and various private donors, Churchard said. State government put any money from the budget toward the project because it was in the midst of its own financial crisis, Churchard said. “It was the recession. So we hit the wall and really were not able to successfully raise the money, which is unfortunate, but that’s just the way the reality was,” Churchard said. With a goal of opening sometime in 2012 as a part of the state’s centennial celebration, the total cost for these changes was initially estimated at $10 million, Churchard said. Over time, as fundraising lagged, the name for the museum changed to the Arizona Experience Museum because various meetings with stakeholders indicated an interest less in Arizona’s history and more in a vision of Arizona’s past, present and future with the Five C industries, Churchard said. “It morphed into becoming this Arizona experience so that it wouldn’t be just about how the Five C’s shaped our state going backwards in time but how those Five C’s are still sustainable today,” Churchard said. As the concept evolved, the budget for the museum rose to $12.75 million and eventually $15 million. “The actual product itself was amazing. It would have been fabulous for our state to have this,” Churchard said. Who’s in charge?
A bill introduced by former Rep. Russ Jones, R-Yuma, in April 2010 after Brewer’s announcement transferred responsibility for planning and management of the new museum from the Department of Mines and Mineral Resources to the Arizona Historical Society. “Given the mining museum is a museum and the historical society, in fact, is in the business of running museums, it seemed like the most likely fit for a good home,” Jones said at a hearing for the bill with the Senate Committee on Natural Resources, Infrastructure and Public Debt. In a January telephone interview, Jones said handing oversight for the state’s collection over to the historical society relieved budget pressures for the Department of Mines and Mineral Resources. “The only way to preserve as much as could of it was to have the building taken over by the state historical society and run through their budget,” Jones said. A year after Brewer signed the bill that moved oversight for the museum to the Arizona Historical Society, she signed another that absorbed the Department of Mines and Mineral Resources into the Arizona Geological Survey. Only 44 percent of the $858,200 budget for the Department of Mines and Mineral Resources actually went to running the agency in fiscal 2010. The other 56 percent of the agency’s budget – $480,400 – went to the Arizona Department of Administration as rent for the museum space, according to the Joint Legislative Budget Committee. According to a a report by the Joint Legislative Budget Committee, the fiscal 2014 budget provides $428,000 to the Arizona Historical Society, $360,800 of it for rent on the unused museum space and $67,500 for a curator to care for the state’s mineral specimens. Former Sen. Sylvia Allen, R-Snowflake, helped draft the bill that established the Centennial Museum but now she said she regrets her role in the old museum’s closure. “Something that I think was working very well and really of a value to the state is gone, and I feel sad about that,” Allen said. “In retrospect I wish we could have kept it intact and figured out something else to do with the money.” Governor Brewer’s press office didn’t respond to multiple requests for comment on the closure of the Arizona Mining and Mineral Museum and the failure to open a museum in its place. Harmony Huskinson Cronkite News GRUPO MEXICO PROFITS FALL 35%
May 5, 2014 Mexico City based Grupo Mexico reports its 2014 first-quarter profit dropped nearly 35% compared with the same period a year earlier. Stockholders were told an increase in mining production failed to offset the steep falls in metal prices . Grupo Mexico, owner of most of the railroads in the country of Mexico in addition to the ASARCO Copper Mines here in Arizona as well as other mining operations in Mexico and South America, said its quarterly net income was $377 million ( U.S. dollars ) ending March 31st. and that revenue during the quarter was $2.2 billion, a drop of 11.2 % . The company said metals prices fell during the quarter compared to a year ago with silver down 32 percent, gold down 21 percent and copper down 10 percent even though copper production, which accounts for 82 percent of Grupo’s mining division revenue increased 5 percent over a year ago during the same period of time. Ted Lake firstname.lastname@example.org ADEQ TO HOLD FREEPORT SMELTER HEARING IN MIAMI
May 2, 2014 Freeport McMoRan Copper and Gold is moving ahead in modifying its copper smelter near Miami to meet the new Environmental Protection Regulations which were upheld by the U.S. Supreme Court in January of 2012. The tougher air pollution restrictions were appealed to the nation’s high court by ASARCO/Grupo Mexico along with owners of several power companies in northeastern Arizona. Freeport McMoRan was not a party to the appeal. During the appeal process the plaintiffs lost, ASARCO/ Grupo Mexico told the Supreme Court Justices that it would cost $1.2 billion to bring its Hayden smelter into compliance and that it couldn’t afford to do so. Also, during the case, it was noted that modifying the only other Gila County smelter in the Miami area owned by Freeport McMoRan Copper and Gold was expected to cost several hundred million dollars according to Bloomberg news Freeport McMoRan which has been working on the major changes required since the court’s final decision has filed for a major changes in its present Air Quality operating permit in order to meet these new rigid EPA operating requirements. A public hearing has been announced for later this month Miami. Meanwhile, ASARCO/Grupo which is Gila County’s largest taxpayer primarily because of its huge Hayden smelter has not released any public information to date as to what the company plans to do to bring their facility into compliance under the new EPA requirements. What Freeport officials have filed with the state air pollution regulators, the Arizona Department of Environmental Quality ( ADEQ ), is a permit revision request which authorizes various upgrades to their emissions controls strategy for the Miami smelter facility to assist in complying with the new 1 hour sulfur dioxide ambient air quality standard set down by the EPA. Additionally, this Air Quality Permit revision sought by the Phoenix based copper mining giant will authorize a capacity enhancement for the smelter to 1,000,000 tons of new metal bearing material each year. According to Freeport McMoRan, this revision will result in a significant reduction in emissions of sulfur dioxide and increases in emissions of nitrogen oxides and carbon monoxide below the significant levels established by state law. The Arizona Department of Environmental Quality has reviewed the application for approval of changes requested in the Miami Smelter Permit and has announced that ADEQ proposes to issue the requested Air Quality Control Significant Permit Revision for the continued operations of the local copper smelter. It was also announced the ADEQ staff will be holding a public hearing 6pm, May 22, in the town of Miami at the Miami Senior Citizens Center at 518 Live Oak Street in which public comments will be taken. Interested persons can viewed the draft documents of the proposed permit revisions from 8:30am to 4:30pm at two locations. They are: The ADEQ Records Center at1100 West Washington Street in Phoenix by the State Capital The Miami Town Hall at 500 Sullivan Street in the Town of Miami. Persons who have questions are invited to contact Balaji Vaidyanthan at ADEQ by telephone at 1-800-234-5677 or by e mail at email@example.com. Written comments can also be submitted but they must be received by May 22, 2014 Ted Lake firstname.lastname@example.org CARLOTA COPPER MINE BECOMING A MINI-CENTER FOR EDUCATION
April 30, 2014 Technical staff at Carlota Copper is responding to requests from regional educators to bring education on the mining industry to schools outside the local area. A group of eight students and two teachers from Mesa’s East Valley High School will be visiting the Carlota Copper Mine near Miami today ( May 1st ). They’ll receive a tour of the mine and also learn about well-paid jobs available in mining without a college degree Carlota has become a mini-center for education experiences. For the past two years, students from New Mexico State University and New Mexico Tech’s Geology Departments have been offered a short course on porphyry copper deposits, and mineral deposit geochemistry, taught by Carlota geologists Leo Sheehan and Anya Kircher. These students then come over from New Mexico to tour the mine. Carlota is owned by Polish-based KGHM International, and a Polish engineer is spending six months at Carlota to learn more about open-pit mine techniques. The knowledge he gains will help further his career and spread best practices throughout the company. And Carlota has developed an excellent Engineer in Training program to teach recent mining engineering graduates the practical aspects of their new careers. Carlota offers tours to the public on the second and fourth Thursdays of each month. The tours begin at 10 a.m., weather permitting. To sign up for a tour, or for more information, call 928.473.3518, ext. 151, or send an email to CarlotaTours@kghm.com Ted Lake email@example.com LATEST FREEPORT MCMORAN REGIONAL JOB ALERTS
April 30, 2014 Freeport McMoRan Copper and Gold Inc, has posted the following job alerts during the past 30 days which are still showing as open on the company’s website ( fcx.com) Freeport McMoRan Safford Mine seeks a Senior Environmental Engineer, Senior Accountant, Accountant Two, Hydromet Diagnostic Mechanic, Supervisor Crusher/Conveyor, Health and Safety Specialist Two. Senior Health and Safety Specialist, and future opportunities for Senior Mine Engineer, Senior Metallurgist, Chemical Engineer, and Material Science Engineer. Freeport McMcRan Safford CASC operations seeks Principal Chemist, Supervisor Electrical Maintenance, Environmental Scientist Two, Environmental Specialist Two, Environmental Engineer, and Diagnostic Electrician. Freeport McMoRan Miami seeks Lab Supervisor at Smelter, Smelter Diagnostic Mechanic, Environmental Engineer, Two Technical Instructor Facilitators at the San Carlos Training Institute; one position is in the field of Welding and while the other is in Fixed Plant Operations, Supervisor Hydromet SXEW, Supervisor Electrical Maintenance, Planner One, Planner Two, Smelter Repair Employee at Converter, Mechanical Engineer Two, Metallurgist One at Acid Plant, Supervisor Electrical Instrumentation Maintenance, Senior Human Resources Generalist, Human Resources Generalist Two, Diesel Diagnostic Mechanic and Security Officer. Freeport McMoRan Arizona Internships and New Graduate Jobs. They are Metallurgist One at the Acid Plant in Miami and Environmental Scientist at Morenci. Freeport McMoRan Morenci seeks a Tire Repair Employee, Truck Driver Trainee, Surveyor for Plant Engineering, Supervisor of Shovel/Drill Maintenance, Administration Clerk at Mine Maintenance and Planning, Hydromet Operator Trainee, Senior Supervisor Maintenance, Diagnostic Electrician, Planner Two, Crusher Operator Trainee, Hydromet Leach Operator, Environmental Scientist One, Line Electrician, Boilermaker/Welder, Senior Surveyor in Plant Engineering, Supervisor Industrial Railroad, Support Equipment Operator, Health and Safety Technician, Hydro Met SXEW Operator Two, and a Crusher/conveyor Diagnostic Mechanic. Freeport McMoRan Mercantile Jobs at Morenci. The company is seeking a Part Time Life Guard Instructor, Lead Life Guard and a Part Time Attendant. Freeport McMoan Corporate in Phoenix seeks a Senior Underground Mine Engineer, IT Project Manager, Business Solution Analyst, Manager of Remediation Projects, and a Manager of Records. Ted Lake firstname.lastname@example.org EXTRA PAY FOR ASARCO UNION WORKERS
APRIL 29, 2014 It’s a special pay day tomorrow, April 30, for all eligible bargaining unit ( union ) employees at ASARCO mining operations. These workers will be getting a copper price bonus check of $1,755. According to the United Steelworkers Union, this money is being paid because the average price per pound of copper on the London Metals Exchange for the 1st quarter of 2014 was $3.1935. ” This bonus is something we fought for and won in previous negotiations and something the company has proposed to change in this round of bargaining. We are still fighting the company’s attempt to withold it from newer employees and will update everyone when we receive a decision from the arbitrator,” the union said in a statement. The Steelworkers went on to say ” While we continue to work with a contract extension subject to a 15 day notice for either side to terminate, our Health and Welfare subcommittee is trying to arrange dates to continue discussions about health insurance. As reported in previous dates, Asarco/Grupo management has proposed radically increasing insurance costs for all hourly employees.” The old wage package between ASARCO and six unions expired on July 1st of last year. However, union workers under a joint agreement between the company and the unions continue to work under the terms under the old agreement as negotiatons have been underway to reach a new labor contract. Ted Lake email@example.com REMARKS BY FREEPORT’S CEO AND PRESIDENT
April 24, 2013
Richard C. Adkerson Freeport McMoRan Copper issued its First Quarter 2014 Financial Results on April 24 stating company profits had fell to $510 million from $648 million a year earlier. The Phoenix based mining giant blamed the drop in net income on issues still unresolved with the Indonesian government over new proposed export taxes on its huge Grasberg Copper and Gold mine there. Freeport told stockholders the situation in Indonesia during the first 90 days of this year reduced ” our volumes by about 525 million pounds of copper and 140,000 ounces of gold.” During a conference after the company’s financial report was released the following comments made by Richard C. Adkerson, Chief Executive Officer and President of Freeport Mc MoRan Copper and Gold were noted ISSUES IN INDONESIA
The situation that we have now in Indonesia is because of the government regulations that were adopted on January 12. We have had no export shipments from PT Freeport Indonesia. We are able to ship concentrate to the smelter in Indonesia that our company arranged to be constructed back in the 1990. It’s operated by a company called PT Smelting, which we have a 25% equity interest in PT Smelting, the operator of the smelter is Mitsubishi. So we have adjusted our production of concentrate to align the volumes of concentrate that we’re producing with the requirements that can be processed at PT Smelting. That results in our mill operating at roughly half capacity, and of course the inability to sell concentrates at full capacity does have negative financial impacts, not only to our company, but to the government of Indonesia through reduced taxes, royalties, and ultimately dividends from that. What we’re doing operationally is we are putting priority on the operation of our DOZ underground mine the block caving operations, since that operation needs to continue to operate to preserve the caving activities that are part of it. We’re mining lower grade material, and focusing on stripping in the Grasberg open pit. We’re also doing maintenance activities so that we will be prepared to return to full operations when the government regulatory situation is resolved. To-date, we have not made significant cuts in employment. We have not had significant deferrals of our ongoing major capital projects, which are important as we look at a transition from the open pit mine at Grasberg to mining underground at the Grasberg Block Cave beneath the pit, which we’re looking at roughly at the end of 2016, 2017. So essentially where we have today and you see reflected in our financial results also reflected in the benefits that government gets is maintaining basically 100% of our cost structure, but having sales at 50% or lower than the issue. We working with the government to achieve a resolution for this, the government – ministries are focused and are appear to be making progress towards reaching a resolution of it MORENCI MINE EXPANSION NEARLY FINISHED
Morenci is really exciting; this $1.16 billion project is being completed. Commissioning start up is expected to occur this quarter at 225 million pounds of copper $1.3 billion we’ve incur to-date. What is so really great about Morenci is this is a mine that people thought 10 years ago was dead, and now we’ve got this expansion project. We’re making a lot of money there with what we already have. And we have a place where our exploration team is working hand-in-hand with our development group to give us the next stage which could be a very large scale expansion there and making Morenci one of the largest most profitable mines in the world. THE GLOBAL COPPER MARKET
. Turning to copper markets, we saw in March a downturn in the market in the copper price. It’s rebounded some since then. And there was a lot of concern when the downturn occurred about growth in China, about the existence – significant amount of copper in off exchange bonded warehouses in China, and whether that might come to the marketplace in a context of relatively low global growth What we see though in terms of the business we’re doing there now, and with what the market seems to be, is a situation of not where the copper market is being flooded by a large amount of new supplies. We’re not seeing a situation of where fundamental demand has dropped off any cliff. The fundamental demand in China remains healthy. It’s supported by consumer and infrastructure investment. And the Chinese government has talked about incentives, relatively modest but important ones, in areas where copper is consumed. The lower price is reduced the availability of scrap, and that creates more demand for copper cathodes. Market reports that some of the bonded warehouse stocks are now being purchased by China as strategic reserve. There’s difference views of how much that, is but it’s an indication and I think of volumes in bonded warehouses are not going to be dumped onto the market in any place. Demand in the U.S, where we provide over 40% of the copper wire, is improving. Our downstream customers are doing well, consumer confidence is growing. Automobile and construction continues to be positive. We have a smelter in Europe, and we’re seeing an uptick in Europe from its low base, but globally, copper cathode markets are tight. Exchange and consumer stocks are at historically low levels. Scrap availability is tight, and premiums for copper cathode are strengthening globally. And if we look into the future, we continue to be encouraged by the basic fundamentals of a commodity which its use is inherently positive in terms of in developing countries, as well as uses in the economy in general, and where development of supplies and maintaining production of the existing mines is challenged. Ted Lake firstname.lastname@example.org FREEPORT REPORTS $510 MILLION PROFIT
April 24, 2014 Freeport-McMoRan Copper & Gold Inc. Reports First-Quarter 2014 Results Net income attributable to common stock totaled $510 million. compared with net income of $648 million for first-quarter 2013. Consolidated sales for first-quarter 2014 totaled 871 million pounds of copper, 187 thousand ounces of gold, 27 million pounds of molybdenum and 16.1 million barrels of oil equivalents compared with 954 million pounds of copper, 214 thousand ounces of gold and 25 million pounds of molybdenum for first-quarter 2013. Average realized prices for first-quarter 2014 were $3.14 per pound for copper (compared with $3.51 per pound in first-quarter 2013), $1,300 per ounce for gold (compared with $1,606 per ounce in first-quarter 2013). Consolidated unit net cash costs for first-quarter 2014 averaged $1.54 per pound of copper for mining operations and $18.51 per BOE for oil and gas operations, compared with $1.57 per pound of copper for first-quarter 2013. Operating cash flows totaled $1.2 billion (net of $377 million in working capital uses and changes in other tax payments) for first-quarter 2014, compared with $831 million (net of $430 million in working capital uses and changes in other tax payments) for first-quarter 2013. Based on current sales volume and cost estimates and assuming average prices of $3.00 per pound for copper, $1,300 per ounce for gold, $10 per pound for molybdenum and $105 per barrel for Brent crude oil for the remainder of 2014, operating cash flows are expected to approximate $7.7 billion (including $0.1 billion of working capital sources and changes in other tax payments) for the year 2014. Capital expenditures totaled $1.6 billion for first-quarter 2014, including $0.7 billion for major projects at mining operations and $0.6 billion for oil and gas operations. Capital expenditures are expected to approximate $7 billion for the year 2014, including $3 billion for major projects at mining operations and $3 billion for oil and gas operations. At March 31, 2014, consolidated cash totaled $1.4 billion and consolidated debt totaled $20.9 billion. Freeport McMoRan Copper and Gold continues to target significant reductions in debt by the end of 2016 using cash flows generated above capital expenditures and other cash requirements. The company will seek opportunities to accelerate its deleveraging plans through potential asset sales, joint venture transactions or other monetizations and is engaged in discussions with a number of third parties to achieve this objective. FCX may also take additional steps to reduce or defer capital spending and other costs in response to market conditions. Ted Lake email@example.com UPDATE ON PROPOSED $6 BILLION RESOLUTION COPPER MINE
April 22, 2014
Andrew Tobin Project Director, Resolution Copper Mining Company We’ve made a great deal of progress over the past year and a half. Most important is that in November of last year, we filed our Mine Plan of Operations with the U.S. Forest Service. Filing is a crucial step toward obtaining necessary permits for the mine. The plan represents the culmination of years of work done by Resolution Copper employees and some of the best consultants in the mining industry. The Forest Service is reviewing the plan and may ask us to modify it. Their review will take many months. When they’re done, the public will have opportunities to comment on it. You can see the plan we submitted on our website. When it’s available, we’ll publish the version released by the Forest Service, and we’ll let the public know how and when they can comment on it. We are continuing, of course, with work needed to build the business case for the mine and also to reclaim sites left by the former Magma Mine. We’re using a number of Globe-based companies as part of the effort, including Marcanti Electric, Mid-State Pipe and Supply, DalMolin Excavation, Jonovich Companies, Kevlin Steel and Supply, United Rentals, Globe Exterminators, and Diversified Solutions. Many studies still need to be done to determine how we can mine most productively and efficiently at 7,000 feet. That’s why it’s so good that that we’re close to resuming work on sinking the No. 10 shaft to our target depth of 6,943 feet. You’ll recall that last October, we had to suspend work on the shaft because the heat we encountered was uncomfortable and unsafe for the workers. We’ll get there with the help of ventilation and cooling improvements and with workers we’ll be bring back from Cementation. It will take about 90 workers to complete this task by the end of the year. Then we’ll have plenty more work to do in the coming years to complete a pump level, sink the No. 9 shaft, and advance characterization work to gather geological, geotechnical and hydrological data. This information feeds into the mine design and baseline studies, so finishing the shaft is an important step in creating long-term jobs. We anticipate spending another $1 billion to do all the work needed before we can ask for full project funding. You’ll be seeing increased activity on several fronts in 2014. For example, you’ll see a continuation of reclamation work at the West Plant site. We already have spent more than two thirds of our $50 million budget for reclamation at this site, and much of that money has gone to Globe-based contractors. The next step in reclamation is to remove historic tailings that are located in an area called the Lower Smelter pond. We will, of course, cover the area with clean fill or replacement soil and then revegetate it with a native seed mix. You’ll also continue to see us involved in your community. We’re working with Globe to provide technical support for water infrastructure and, in particular, your municipal wells. We’ve helped create a comprehensive data base of well information. Now we’re assisting in the preparation and a scope of work to rehabilitate and monitor your wells. The goal of this program is to optimize your well system performance and build both a short- and a long-term understanding of water supply and stresses on the aquifer. This will allow for better management of water resources for current and future generations. We’re involved in other ways as well. For example, we’re spending $15,000 over three years to sponsor the FIRST Robotics Program at Globe High School. We offer scholarships of up to $3,000 to qualified, graduating seniors at Globe High. During 2013 and 2014, we’ll spend about $15,000 in support of projects ranging from the Gila Community Food Bank to Habitat for Humanity to the Cobre Valley Regional Medical Center and the Gila County Gem and Mineral Show. I should mention, too, that 10 of our full-time employees are Gila County residents, and their total compensation packages amounted in 2013 to over $900,000 in direct wages and benefits. The indirect employment we provided last year through Gila County contractors resulted in compensation totaling more than $2 million. I’m pleased to tell you that most of the region’s residents want to see us succeed. A survey we conducted last September indicates that 85 percent of residents in the Copper Triangle – including Globe – support the construction of the mine. Andrew Taplin is the Project Director for Resolution Copper. He is responsible for leading the overall efforts in evaluating, permitting and further developing the Resolution project. Andrew has been with Rio Tinto since 1993 and has worked in various leadership roles in port, rail, and mine operations in Australia, Canada and West Africa. Andrew Taplin
Project Director, Resolution Copper Mining Company TEN JOB OPENINGS AT ASARCO HAYDEN
April 21, 2014 ASARCO Copper says it presently taking applications for 10 open positions at its Hayden Operations in Southern Gila County: The jobs the company seeks to fill are for: Yard Laborer, Two open positions for Pipefitter/Welders at the Smelter, Pipefitter/Welder at the Concentrator, Manager of Hayden Support, Maintenance Mechanic, Human Resources Administrator, Concentrator Clean Up Laborer, Chief Metallurgist, and Boilermaker at the Smelter. Ted Lake firstname.lastname@example.org COPPER FOX TALKS ABOUT ONGOING MIAMI DRILLING
April 18, 2014 Copper Fox Metals Inc, which owns some 1,100 acres of mineral rights in, around and under the town of Miami, has released a statement talking about its copper exploration drilling now underway in the Miami area. The Desert Fox Company, which is a subsidiary of Vancouver based Copper Fox is in charge of the Miami project and has opened an office on the east side of town on the north side of the Globe-Miami highway. Here is what Elmer B. Stewart, President and Chief Executive Officer of Copper Fox Metals had to say about the drilling now underway to acquire more information about the historic Van Dyke Copper deposit which lies basically under the town of Miami. Diamond drilling has commenced on the first hole of the verification drilling progr am into the Van Dyke oxide copper deposit, two additional drill holes have been pre-collared into bedrock. Pre-collaring of drill holes is a preventative measure employed to protect the environment. A second diamond drill is expected to join the drilling program when all surface access agreements are in place. SGS Metcon/KD Engineering has been selected to provide metallurgical design inputs and consulting for the proposed Preliminary Economic Assessment, and Southwest Exploration Services, LLC will complete down hole geotechnical and geophysical surveys. Stewart went on to say, “ The verification drilling program to confirm the historical estimate for the oxide copper mineralization is underway. The work completed by Occidental Minerals at Van Dyke concentrated on the oxide copper mineralization. The current drill program is designed to verify the historical data from Occidental as well as test the potential for sulphide copper-molybdenum mineralization below the oxide zone. With the addition of SGS Metcon/KD Engineering and Southwest Exploration Services, the main consulting groups required to complete the Preliminary Economic Assessment on the Van Dyke oxide copper deposit are in place.” BACKGROUND ON VAN DYKE PROJECT PROVIDED BY COPPER FOX METALS
The Van Dyke oxide copper deposit is located immediately adjacent to the former Miami-East operations. The historical production (in-situ leaching (“ISL”) method in the late 1980′s) and general characteristics of the Van Dyke oxide copper deposit are comparable to the Florence and Gunnison oxide copper deposits located in the southwest Arizona copper belt. In the early 1970′s Occidental Minerals Corporation (“Occidental”) completed an historical estimate for the Van Dyke oxide copper deposit. The historical estimate* is quoted as 119.2 million tons that averaged 0.52% copper using a 0.20% copper cutoff (estimated to contain 1.2 billion pounds of total copper – see news release dated April 12, 2013). Occidental estimated that approximately 62% of the deposit was oxidized. Occidental did not explore for sulphide copper mineralization below the oxide zone. In the late 1970′s Occidental conducted ISL testing on the Van Dyke oxide copper deposit consisting of drilling injection and recovery wells into the deposit and circulating solution to recover copper. This test work suggested that up to 80% of the oxide copper should be recovered using enhanced stimulation of the deposit. In the late 1980′s Kocide Chemicals reported the production of 4 million pounds of copper from the Van Dyke oxide copper deposit also utilizing ISL. *The historical estimate reported for the Van Dyke Deposit is historical in nature, Copper Fox wishes to clarify that an independent Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and accordingly, Copper Fox is not treating the above historical estimate as current mineral resources or mineral reserves. In order to verify the historical estimate additional diamond drilling, metallurgical testwork, updated cost assumption and metal pricing would be required. Ted Lake email@example.com STATEMENT FROM UNITED STEELWORKERS ON ASARCO TALKS
April 16, 2014 While we currently have no new talks with Asarco/Grupo Mexico management scheduled, everybody should understand that we continue to work with a contract extension subject to a 15 day notice for either side to terminate. Our committee and the company remain far apart on a number of issues that have a lot of value to union members and our families, and management needs to understand that we are united in solidarity for a fair contract with Asarco/Grupo Mexico. Our contract provides a quarterly Copper Price Bonus, and the payment of our bonus for the 1st quarter of 2014 and is due at the end of April. The bonus is something we fought for and won in previous negotiations and something the company has proposed to change radically in this round of bargaining. We are still fighting the company’s attempt to keep it from newer employees, and will update everyone when we receive a decision from the arbitrator. Ted Lake firstname.lastname@example.org ISSUES STILL REMAIN IN INDONESIA FOR FREEPORT MCMORAN
April 12, 2014 Indonesia’s Mining Ministry has now recommended a sharp cut in the export tax imposed on Freeport McMoRan Copper & Gold Inc and Newmont Mining Corporation. The move after the two mining companies promised to finance the building of multi billion copper smelter operations in Indonesia according to the British Press reports . Both Freeport and Newmont had stopped nearly $4 billion worth of annual copper shipments from their operations to overseas markets early in January. This after the government of Indonesia imposed an unexpected 25 percent export tax on their copper shipments . The move was made to force the two American companies to smelter all of their copper produced domestically in Indonesia in Indonesia and not somewhere else The country’s Mining Ministry said last week it has recommended that the export tax should be lowered at no more than 10 percent for Freeport and Newmont. However, the latest information is Freeport and Newmont do not want to pay more than 5 percent since they have already committed to paying a deposits of 5 percent to build new smelter operations in the country. Freeport operates the giant Grasberg Copper and Gold Mine in Indonesia which has been a majority source of the Phoenix based mining company’s income. Ted Lake email@example.com Capstone Mining Record 2014 First Quarter Production Results
April 12, 2014
Capstone Mining Corporation has release the production operating results for the three months ending March 31, 2014 at its three operating copper mines: Pinto Valley near Miami, Arizona along with the Cozamin and Minto Copper mines located in Mexico and Canada.. Combined production totalled 27,600 tons of copper (in concentrates and cathode), with additional by-products of zinc, molybdenum, lead, silver and gold.
First Quarter 2014 Production Results in tons for:
| Copper in concentrates
| Copper cathode
| Pinto Valley Total
| Copper in concentrates
| Copper in concentrates
|Total Copper production(1)
Darren Pylot, President and Executive Officer of Capstone Mining Corporation said “All three of our mines performed very well this quarter, with Pinto Valley meeting our expectations and Cozamin and Minto also delivering as planned. Our primary focus remains on stabilizing operations and reducing costs at Pinto Valley. We completed the transfer of all the enterprise operating systems to Capstone in the first quarter and are continuing with a number of initiatives designed to enhance the stability and predictability of production at Pinto Valley.”
- Pinto Valley production finished the first quarter essentially on plan, with grade and recoveries offsetting a minor shortfall in throughput. A number of initiatives are underway related to production stability, with March showing an improvement over the first two months of the quarter.
- Cozamin is also on plan, with average throughput for February and March of over 3,800 tons per day making up for an unplanned transformer outage that affected production in January. The higher throughput over the course of the quarter offset minor shortfalls in grade and recovery.
- Minto also exited the First Quarter on plan, with strong throughput, mill availability and recoveries compensating for slightly lower grades. The mill achieved a monthly throughput production record in March of 4,222 tons per day.
- Payable copper shipped for the quarter from all three mines was 26,600 tons.
Financial Results Timing
Capstone will report its First Quarter 2014 financial results on Wednesday, May 7, 2014 after market close, followed by a conference call and webcast for investors and analysts on Thursday, May 8, 2014 at 11:30 am Eastern Time (8:30 am Pacific Time ).
NEW PINTO VALLEY JOB ALERT: MINE E AND I SUPERVISOR April 12, 2014Job Title: E and I Supervisor Job Number: PVM-2014-024Position Summary:Reporting to the Processing E&I Superintendent, the E and I Supervisor is responsible for all aspects of day to day management and execution of preventive, corrective, and emergency maintenance. Position Responsibilities (including but not limited to):Conducts supervisory activities safely and in accordance with schedules and plans, and adheres to relevant regulations, laws, standards and operating procedures.Ensures work is completed in a safe, timely, and efficient manner to support the maintenance and production schedules.Spends appropriate time in field and ensures that critical controls for material risks are being correctly and uniformly applied and used by all teams.Complies with collective bargaining agreement.Job Requirements Position Requirements:High School diploma or GED with 3 to 5 years of related experience. Combinations of education and experience will be considered. Successfully complete In-house testing where required. Strong technical background and familiarity with equipment and challenges associated with milling and mining. Proficient computer skills, including Microsoft Outlook and Microsoft Office. Valid Arizona Driver’s License. Able to speak, comprehend, read, and write EnglishThe Ideal Candidate will have:Bachelor’s Degree Experience in Electrical and Instrumentation supervision in a mining environment. SAP experienceEqual Opportunity Employer
90 TO BE HIRED FOR RESOLUTION $4 MILLION PROJECT April 11, 2014SUPERIOR, Ariz. .Resolution Copper Mining says it has just awarded Sundt Construction, Inc. of Tempe, Ariz., the contract to install an upgrade to its surface refrigeration in support of mine shaft development in Superior that will employ 90 people during construction .The $4 million project will increase the cooling capacity of the air conditioning system for the sinking of the No. 10 Shaft at the Resolution Copper east plant. Resolution anticipates hitting shaft bottom at 7,000 feet later this year.The award will allow the commencement of shaft sinking by Resolution Copper, which was suspended last year.“The health and safety of our workers is a top priority at Resolution, and this project will greatly improve working conditions in the shaft,” said Andrew Taplin, RCM Project Director, “RCM has a goal of zero harm for all employees and contractors.”Sundt shares the safe approach with its innovative “Safety by Choice” program. Sundt puts an emphasis on hiring local community members. “Sundt currently employs several local community members on our mining projects throughout Arizona,” said Dave Crowford of Sundt, “we value the skill sets and talents members of the copper triangle community bring to our employee owned company.”
90 TO BE HIRED FOR RESOLUTION $4 MILLION PROJECT April 10, 2014SUPERIOR, Ariz – Resolution Copper Mining says it has just awarded Sundt Construction, Inc. of Tempe, Ariz., the contract to install an upgrade to its surface refrigeration in support of mine shaft development in Superior that will employ 90 people during construction .The $4 million project will increase the cooling capacity of the air conditioning system for the sinking of the No. 10 Shaft at the Resolution Copper east plant. Resolution anticipates hitting shaft bottom at 7,000 feet later this year.The award will allow the commencement of shaft sinking by Resolution Copper, which was suspended last year.“The health and safety of our workers is a top priority at Resolution, and this project will greatly improve working conditions in the shaft,” said Andrew Taplin, RCM Project Director, “RCM has a goal of zero harm for all employees and contractors.”Sundt shares the safe approach with its innovative “Safety by Choice” program. Sundt puts an emphasis on hiring local community members. “Sundt currently employs several local community members on our mining projects throughout Arizona,” said Dave Crowford of Sundt, “we value the skill sets and talents members of the copper triangle community bring to our employee owned company.”
PINTO VALLEY JOB ALERT: JUNIOR FINANCIAL ANALYST
Reporting to the Senior Financial Analyst, responsible for providing quality and on time analysis of financial results and account balances, investigation of cost items, and providing reports of results to Finance and Operations Business Units. Develop and implement internal control and operational procedures, and monitor adherence to those controls. Prepare and post accounting entries, account reconciliations and transaction processing.
Position Responsibilities (including but not limited to):
- Prepare balance sheet and income statement related entries by compiling and analyzing account information.
- Record financial transactions by entering account information into accounting systems. Summarize accounting and cost information by collecting data; preparing balance sheet account analyses, profit and loss account analyses, and other reports. Substantiate transactions by auditing documents.
- Maintain internal accounting controls by adhering to internal control procedures.
- Enhance operational and internal control procedures by preparing and recommending policies and processes.
- Reconcile balance sheet, income and cost account by collecting and analyzing account information.
- Respond to accounting procedure questions by researching and interpreting accounting policy and regulations.
- Comply with federal, state, and local financial legal requirements by studying existing and new legislation, enforcing adherence to requirements, and advising management on needed actions.
- Prepare special financial reports by collecting, analyzing, and summarizing account information and trends.
- Maintain and protect the Company and Operations by keeping financial information confidential.
- Interact with Mining and Production managers and staff in the review and analysis of budgets, cost reports and related operational accounting information.
- Maintain professional and technical knowledge by attending educational workshops and reviewing professional publications.
- Ensure strict adherence to reporting and other deadlines as directed by management.
- Contribute to team effort by accomplishing related results as needed.
- Bachelor’s Degree in Accounting or Finance.
- Minimum 2 years accounting experience
- Proficient in accounting, math and computer skills (Microsoft Outlook, Microsoft Office) with an emphasis on Microsoft Excel.
- Keen attention to detail.
- Ability to work well in a fluid, team environment.
- Ability to work independently and take initiative, with minimal supervision and direction.
- Excellent organizational skills and ability to meet tight deadlines.
- Valid Driver’s License.
- Able to speak, comprehend, read, and write English.
The Ideal Candidate will have:
- Finance/Accounting Certifications or education
- SAP experience in data entry, updating, and reporting.
MINING NEWS IN BRIEF April 7, 2014
Officials of Freeport McMoRan Copper & Gold Inc have announced they will be releasing the company’s First Quarter 2014 Financial Results on Thursday, April 24 before the stock market opens. Freeport’s huge Grasberg Copper and Gold Mine in Indonesia, although still producing, has not been able to export copper from Indonesia since early January because of an ongoing dispute with that country over huge increases in copper export fees and demands mining companies participate in new multi billion dollar smelter building projects there. The Grasberg has been a major source of the company’s revenues.Rio Tinto says its Chief Executive Officer, Sam Walsh, who was appointed to head the company in January of last year received $10.1 million (U.S.) in compensation in 2013 which included his salary, cash bonus, shares and other benefits.KGHM International Ltd has not yet filed its Final Plan of Closure and Reclamation for its open pit Carlota Copper Mine west of Miami according to the Tonto National Forest headquarters in Phoenix. Forest Service officials say they are aware the Carlota mine will stop mining in the very near future. Reclamation work at the several thousand acre site is expected to take several years or longer and will require years of site monitoring by the U.S. Forest Service afterwords.Global copper prices began this week from $3.00 to $3.01 a pound. http://www.kitco.com/ shows how copper prices fluctuated during the past 30 days.
RIO TINTO PAID $7.5 BILLION IN 2013 GLOBAL TAXES April 5, 2014Rio Tinto has published its latest ‘Taxes paid report’ which details the US $7.5 billion of taxes the company paid around the world in 2013. The London based global mining giant said it also paid US $1.9 billion of taxes on behalf of its employees Rio Tinto in a voluntary annual report recently released details all individual payments more than US $1 million made to governments in the countries where Rio Tinto operates. The majority of Rio Tinto’s taxes were paid in Australia ( US $5.7 billion ), Canada ( US $523 million ), Chile ( US $380 million ), Mongolia ( US $220 million), United States ( US $217 million ), South Africa ( US $16 7million ), France ( US$126 million ), Guinea ( US $64million ), Singapore ( US $52 million) and the United Kingdom ( US $26 million). Rio Tinto is the majority owner of the proposed $6 billion dollar 7,000 feet under ground Resolution Copper Project east of the Town of Superior, Arizona.BAD NEWS FOR FREEPORT MCMORAN? April 4, 2014A copper smelter venture between Indonesia state owned company Antam and Freeport McMoRan Copper & Gold may not be ready before a ban on concentrate exports takes effect in 2017. This is all coming from British press reports. Both companies jointly began studying the feasibility of a multi billion dollar copper smelter project in January soon after Indonesia officials halted exports of unprocessed minerals and ruled that all mining companies must refine metals domestically by 2017 as well as pay an escalating export tax that reaches 60 percent in 2016. Basically the goal by the government is to have all copper produced in its country to eventually go through a smelting process in Indonesia and not somewhere else in the world.These tough new government restrictions are expected to force copper mining companies to slash output if they have no new smelters in operation by the year 2017. Freeport operates the Grasberg Copper and Gold mine which is one of the biggest mines in the world and a major source of its income.Antam’s Chief Executive Officer says more time is needed for its joint smelter project. He says construction could not begin before the year, 2015, at the earliest. A delay in the Antam copper project could also hamper this month’s expected resumption of concentrate exports by Freeport McMoRan and Newmont Mining after they stopped in January because of the new rules. Phoenix based Freeport McMoRan, in our part of Arizona, operates copper mines at Miami, Safford and Morenci. The company had targeted to sell 2,118,525 tons of copper concentrate from its Grasberg mine in Indonesia this year
Ted Lake firstname.lastname@example.org
CARLOTA MINE OWNER ISSUES ANNUAL REPORT April 4, 2014KGHM International Ltd, owner of the Carlota open pit copper mine west of the town of Miami has issued its annual report. KGHM which is a 100% Polish owned state corporation in its 44 page report said its consolidated earnings last year for all of its mining projects in Canada, the United States, Chile and Europe were $9.4 million U.S. dollars compared to $103.8 million in 2012. The company said cash provided from operating activities last year was $234.6 million compared to $150 million the previous year.The company said its Robinson Copper Mine near Ely, Nevada had a copper concentrate inventory of $8.5 million dollars as of December 31st, 2013, while the Carlota Copper Mine ( Miami, Arizona ) Leach Pad Inventory at the end of the year was $59.9 million, and for the Franke Copper Mine in the Country of Chile Leach Pad Inventory was $15.4 million. The value of the stockpile at he Robinson Mine was said to be $16.6 millionThe Sierra Gorda Copper/Moly Mine ( Joint Venture ) in Northern Chile nearing completion was listed as a current $4.45 billion asset with total liabilities at $3.51 billion U.S. dollars.Site closure and reclamation provisions were listed in the financial report at $148.8 billion–Carlota termination benefits and others were $3.1 million.Copper Recovery ( Copper only, we are not listing other metals in our story ) at the KGHM mines in 2013 were reported as follows.$84.1 million for Carlota Mine. $484.6 million for Robinson Mine $152.5 million for Franke Mine in Chile $224.5 million for Sudbury Mining Operations in Canada.
KGHM SEEKS ENGINEER IN CARLOTA MINE SHUT DOWN April 3, 2014
The 100% Polish state owned KGHM International Ltdhas issued a job alert for a Project Engineer who will be involved in the planning for the closing down of the company’s open pit Carlota Copper Mine west of Miami. The person hired for this position will have a significant role during the final year of active mining at the Carlota according to KGHM. Here is the announcement made yesterday about the job opening at the Carlota
PROJECT ENGINEER FOR KGHM INTERNATIONAL LTD
The successful candidate will be part of KGHM International’s Mine for Closure project planning and implementation at the Carlota Mine.
Part of KGHMI’s commitment to corporate social responsibility, and encompassing mine cycle management is the successful planning and implementation of closure and reclamation at the Carlota Copper Mine outside of Miami, AZ.
The position will include a significant mine planning role during the final year of active mining. The unique constraints and governances of the site; more specifically environmental controls, and health and safety initiatives, provide a unique perspective for an engineer. Additionally, the culture developed and shared amongst all of the employees at site serves as a great environment to foster a successful closure of the mine; and a culture that the successful candidate can take with them the rest of their career with KGHMI.
- BS degree in Mine Engineering, Civil Engineering, or similar discipline.
- Previous exposure or proficiency in mining specific software or 3D CAD either MineSight, AutoCAD,Surpac, Vulcan or similar is a plus.
- Proficient in Excel, Word, and Outlook.
- Willing to travel domestically and internationally.
- Willing to work at a surface mine.
- A successful candidate will be: Motivated and able to take on multiple projects/responsibilities at once.
- Willing to take on roles within various facets of the Technical Services Department.
- Able to effectively communicate clearly with immediate co-workers, management, and contractors.
- Eager to produce quality deliverables.
- Respectful of coworkers, contractors, and the company culture.
- Vigilant of Environmental, Health, and Safety procedures and expectations of KGHMI, MSHA, and all governing agencies.
- Salary Exempt Position – Competitive Pay with Short Term Incentive Program, includes Relocation
Ted Lake email@example.com NEW COPPER MINE WILL USE SEA WATER
- Duties while at Carlota include, but will not be limited to:
- Project engineering and Supervisory role
- Short-range mine planning;inclusive of traditional mine planning as well as heap leach pad sequencing, and a broader Mine for Closure scheduling.
- Drilling and blasting Geotechnical engineering
- Daily ore tracking Ore control
- Survey Reconciliation Concurrent reclamation Participation in KGHMI’s Social Responsibility program,
- Carlota Health and Safety League, and Carlota’s Community Relations Team
April 2, 2014 operates the Carlota Copper Mine west of the Miami. KGHM which has other mining operations in the United States, Chile,Canada and Europe, is the world’s largest silver and eight biggest copper producer. KGHM International recently confirmed the on-schedule construction of the 142 kilometer Seawater Pipeline for its Sierra Gorda mine in the county of Chile. The 100% Polish state owned company said its Sierra Gorda mine is world’s seventh largest copper project.. The mine’s technical commissioning and initial production is expected to happen sometime during the summer of this year. To date, the overall project progress is already above 90% of completion.. Sierra Gorda will operate using seawater captured from the cooling systems at a thermal electricity generating plant, located on the coast of Mejillones, Chile. Instead of being discharged into the sea, the water will be transported to the Sierra Gorda mine and plant through a 142.6 kilometer pipeline passing inland over a coastal plain and hills. Apart from the pipeline itself, its key infrastructure includes the coastal station and two inland pump stations, with a total of 24 pumps and pumping rate of 1,500 liters per second. Additionally, port facilities and fiber optic cable all along the pipeline are provided. Jarosław Romanowski, Executive Vice President and Chief Financial Officer of KGHM International said, “Our project is located in a desert, with extremely dry conditions and scarce water reserves. That is why our top priority was securing water supply and eliminating the risk of exhausting this resource in the region. An important design innovation was made to incorporate the use of sea-water on the project site through the pipeline. KGHM in a news release went on to say the pipeline’s hydraulic tests, which were critical to the project’s commissioning, were executed from December 14, 2013 and successfully completed on February 28, 2014. Seawater pumping to cumulative pond of 750,000 cubic meters capacity was scheduled to start last month.e proud to see the on-time delivery of the pipeline construction, with all hydraulic and pressure tests for the pipe and pump stations. This success is definitely one of the key milestones towards technical commissioning of the Sierra Gorda project, which is planned for June 2014”, said Maciej Ściążko, General Manager at Sierra Gorda SCM. “The whole project development, from exploration to initial production, took 10 years, which is considerably shorter than a project of this size normally takes.” After the start of production, the Sierra Gorda mine will use 251,808 cubic meters of water daily. On a yearly basis, this equals a capacity of 92 million cubic meters. As planning is underway to increase ore processing from the initial 110,000 tons per day to 190,000 tons per day, which would result in average annual copper production of about 220,000 tons over a 20 year-life, the amount of water used daily in the mine will grow to 442,000 cubic meters daily. The pipeline’s hydraulic tests, which were critical to the project’s commissioning, were executed from December 14, 2013 and successfully completed on February 28, 2014. Seawater pumping to cumulative pond of 750,000 cubic meters capacity will start in March 2014. “We are proud to see the on-time delivery of the pipeline construction, with all hydraulic and pressure tests for the pipe and pump stations. This success is definitely one of the key milestones towards technical commissioning of the Sierra Gorda project, which is planned for June 2014”, said Maciej Ściążko, General Manager at Sierra Gorda SCM. “The whole project development, from exploration to initial production, took 10 years, which is considerably shorter than a project of this size normally takes.” After the start of production, the Sierra Gorda mine will use 251,808 cubic meters of water daily. On a yearly basis, this equals a capacity of 92 million cubic meters. As planning is underway to increase ore processing from the initial 110,000 tons per day to 190,000 tons per day, which would result in average annual copper production of about 220,000 tons over a 20 year-life, the amount of water used daily in the mine will grow to 442,000 cubic meters daily. The Sierra Gorda project is located within the Atacama Desert, which is Chile’s largest copper producing region. It will produce copper, molybdenum and gold ore by open pit methods. Downstream processing will include crushing, grinding, flotation and drying to obtain copper and molybdenum concentrates. When production begins, the Sierra Gorda mine will process daily 110,000 tons of ore, producing 120,000 tons of copper per year. In addition, the project will be one of the largest molybdenum producers in the world, averaging about 50 million pounds. of molybdenum production each year during the first years of the mine’s life. Ted Lake firstname.lastname@example.org STATEMENT FROM UNITED STEELWORKERS ABOUT ASARCO TALKS
March 31, 2014 The United Steelworkers Union, which heads a six union comittee seeking a new three three wage package from ASARCO copper ,issued the following statement today “Although our negotiating committee has not met with Asarco/Grupo Mexico management since our previous update, we continue to fight against the company’s unreasonable demands. As discussed previously, Asarco/Grupo management wants to dramatically increase our health insurance costs. The company is also proposing to Eliminate our insurance coverage when we retire! Management continues to insist on other major economic and contract language changes that will only reduce our compensation and make our jobs less secure. We cannot allow Asarco/Grupo Mexico to take away what we have earned through years of struggle. We must continue to resist management’s efforts and fight back together” At its four copper mines in Arizona, and copper refinery near El Paso, Texas, ASARC0 has nearly 2,600 workers of which 1,400 are employed at the company’s Hayden Smelter/Concentrator and Ray Copper Mine complex. Nearly 75% of the workers are union members who continue to remain on their jobs under the terms of the old wage package with ASARCO that expired July 1st of last year. Ted Lake email@example.com RESOLUTION COPPER HIRES THREE FOR TECHNICAL TRAINEE PROGRAM
March 28, 2014 In its continuing effort to develop local workforce, Resolution Copper has hired three residents with ties to the region as technical trainees to learn key aspects of the business. Jessica Gerola, Raul Schcolnick, and Edward Gomez began their training program this week. The program runs for six months and all participants will become Mine Safety and Health Administration (MSHA) certified. Jessica Gerola will be RCM’s administrative trainee. She is a resident of Superior and most recently worked with animals at Caring Critters Veterinary Hospital. In Jessica’s program she will learn Microsoft Office software, front desk/reception skills, typing, filing and document management. Raul Schcolnick has a strong interest in science, particularly Geology. These skills will help him as RCM’s core handler trainee. Raul will become forklift certified as well as receive competency and task based training. He will also learn the warehouse operations and become qualified on many of the tools found in the core facility. Raul was raised in Superior. Edward Gomez will work in the Water Treatment Plant. The Plant, which has operated on site for five years, filters and cleans water from the dewatering process of the old Magma Mine workings. Edward will learn the full cycle of a water treatment facility as well as many of the laboratory and best practices used to properly evaluate water processing. Edward lives in Dudleyville.
Raul Schcolnick, Edward Gomez & Jessica Gerola The objective of the technical trainee program is to build workforce in the region and add to the skill sets needed to successfully develop a 21st Century copper mine near Superior, Arizona. Resolution Copper mine is a joint venture between two of the world’s largest mining companies in Rio Tinto and BHP Billiton. Ted Lake firstname.lastname@example.org PINTO VALLEY NOW EXPECTED TO PRODUCE COPPER TO YEAR 2026
March 26, 2014
Capstone Mining Corporation, owner of the Pinto Valley west of Miami today said
a just completed Pre Feasibility Study has extended the mine life of Pinto Valley by 8 years. When Capstone completed the purchase of the local open pit copper mine last October for $650 million ( U.S. Dollars ) from BHP Billiton the expected life of the local copper operation previously had been determined by the previous owner to be only 5 years. However, the Canadian company immediately launched a study to re evaluate the production life of the copper operations it had just purchased believing it could be much longer. The property sits on more than 1,000 acres of private land the company owns outright.
Today Capstone issued a press release announcing the results of its re evaluation which said::
Capstone Mining Corp today announces the results of the Pre-Feasibility Study – Mine Life Extension for its wholly owned Pinto Valley Mine in Arizona which extends the mine life by 8 years from 2018 to 2026.
Ted Lake email@example.com NEW SILVER MINE PROPOSED IN SOUTHERN ARIZONA
- Average annual production for the first five years is 128.4 million pounds of copper contained in concentrate and 6.6 million pounds of copper cathode. “Life of Mine” annual production of 119.5 million pounds of copper contained in concentrate plus 6.3 million pounds of cathode copper, and 1.4 million pounds of molybdenum and 235,000 ounces of silver credited to concentrate annually.
- After-tax net present value, discounted at 8%, of $738 million ( U.S. Dollars )..
- Expected “Life of Mine “cash costs” are estimated to be $2.00 per pound of payable copper (net of copper cathodes, molybdenum and silver by-product credits).
- The “Life of Mine,” strip ratio is 0.65:1.
- Total sustaining capital costs estimated to be $187.9 million over 12.3 years.
- Pinto Valley Mine will operate to 2026 under the Pre Feasibility Study parameters, including “Proven and Probable Mineral Reserves” of 232 million tons at 0.33% copper.
- With an economic cut-off grade of 0.18% copper, the Mineral Resource has increased by 61% to 1,563 million tons at 0.30% copper from 968 million tons at 0.35% copper with a 0.25% Cut off Grade published in December 2013. The contained copper within the Mineral Resource increases by 40%.
- Capstone believes there is potential to extend the operational life beyond the Pinto Valley reserve life if Mineral Resources not included in the mine plan can be successfully converted into Mineral Reserves. Capstone intends to commence engineering and economic studies to consider all remaining current Mineral Resources not included in the Pinto Valley mine plan and their potential for development beyond 2026.
“The Pinto Valley Pre-feasibility Study has validated the purchase price and confirms our position as a leading intermediate copper producer,” said Darren Pylot, President and CEO of Capstone.
“Completion of the Pinto Valley Pre-feasibility Study extends the mine life to 2026 and provides us with the platform to stabilize operations, gain efficiencies and gives us the opportunity to take a longer-term view towards the future of the Pinto Valley Mine in Arizona.’
“The Pinto Valley Pre-feasibility Study does not include all the projected impact of the process improvements that are underway at the mine, which we expect to generate cost savings in the years ahead,” continued Mr. Pylot. “As well as pursuing operating efficiencies, we have started the work required to evaluate a possible mine life extension beyond 2026 and a potential increase in throughput.”
March 24, 2014 A proposed mine near Patagonia, Arizona is getting mixed reviews according to a report on Tucson’s KVOA 4 Television.. With the draft environmental assessment complete, a public meeting was held by the U.S. Forest Service this week in the community of Patagonia in the far southern part of our state. Conservationists and community members for and against the drilling were weighing in. Supporters say the open pit mine will bring jobs and boost property values. Opponents fear drilling will deplete, possibly contaminate Patagonia’s water supply..A proposed exploration test site is located on the north end of the Patagonia mountains. Wildcat Silver owns the mineral rights, but the Forest Service controls the surface. Any drilling, even for environmental assessment requires a permit. The big issue for many residents is ground water, how will it be impacted? The U.S. Forest Service is taking public comments about the Wildcat Silver project until April 7th Ted Lake firstname.lastname@example.org FREEPORT SEEKS TO SELL ITS INTERESTS IN NEW MEXICO POWER PLANT
March 24, 2014 Freeport-McMoRan Copper & Gold Inc. (FCX), the largest publicly traded copper producer, is selling a stake worth as much as $200 million in a New Mexico power plant that supplies electricity to its local mines according to Bloomberg News. The Phoenix based mining company Freeport is working with Wells Fargo & Co. to find buyers for its one-third stake in the Luna Energy Facility, a 600-megawatt natural gas-fired plant that as a whole is worth as much as $700 million Freeport McMoRan apparently wants to take advantage of the strong demand for gas-fired power plants.. Freeport is cutting spending and seeking asset sales to cut debt after buying two oil and gas companies last year for $9 billion Ted Lake email@example.com FREEPORT OFFICIAL COMMENTS ON LOW COPPER PRICES
March 23, 2014 A key official of Freeport McMoRan Copper and Gold, Inc., says the mining company believes China’s Copper Consumption will grow for more than 10 years as demand from China, the world’s top user of copper, remains robust despite fears of an economic slow down in that country. Worries earlier this month over slower growth in China helped send copper prices around 10 days ago to a 44 month low ($2.92 a pound ). The comments were attributed by the British Reuters News Service to Javier Targhetta, Freeport’s Senior Vice President of Marking. He went on to say, “Still in the long term the out look for copper remains solid” Ted Lake firstname.lastname@example.org CONTRACTOR NAME FOR MIAMI DRILLING PROJECT
March 19, 2014 It was announced today by Copper Fox Metals, inc that Layne Christensen Company has been contracted to complete the 7 hole; 5,100 meter diamond drilling program on the Van Dyke oxide copper deposit under the town of Miami. The Canadian company which owns or holds the mineral rights in, under and around the town of Miami, said drilling will commence immediately.
Copper Fox also made two other announcements about its local copper project which were: (1). The recently completed analytical results for the original Van Dyke pulps show that: the 2014 weighted averages for total copper range from 93% to 97.5% of the original weighted averages based on the historical data of Occidental Minerals, the 2014 weighted averages for soluble copper range from 94% to 150% of the historical weighted averages. (2). The recently completed analytical results for the re-sampling of the core from DDH-OXY-27 show that; the 2014 weighted average for total copper is the same as the historical weighted average, the 2014 weighted average for soluble copper is 107% of the historical weighted average. Ted Lake email@example.com UPDATE: ASARCO LABOR TALKS WITH SIX UNIONS
March 17, 2014 The Union Steelworkers Union, which heads a six union committee negotiating for a new three year wage package with ASARCO copper has issued the following up date on labor talks. The bargaining committee met with the company as scheduled last week. We presented management with a Fair, REASONABLE proposal regarding health insurance, which was rejected by the company entirely. Asarco/Grupo management is instead sticking to the SHAMEFUL medical plan they proposed last fall, which would increase everyone’s premium contribution approximately 800-900 percent. In contrast, our plan would keep premiums for employees hired before July 1, 2011, the SAME and would DECREASE premiums for those hired after July 1, 2011, to the level workers hired before July 1, 2011 now pay. No meetings are currently scheduled, but our committee intends to keep working on the health care issue and expects to resume bargaining with management before the end of March. The old three year wage package between ASARCO and the unions expired last July 1st. But workers are staying on their jobs at three ASARCO copper mining projects here in Arizona and a company refinery near El, Paso Texas by mutual agreement under the terms of the old wage package until a new three year contract is reached. Locally, ASARCO has 1,400 workers at its Hayden Smelter/Concentrator in Southern Gila County and nearby Ray Mine in Eastern Pinal County. Ted Lake firstname.lastname@example.org JULY ELECTIONS NOT EXPECTED TO CHANGE THINGS FOR FREEPORT MCMORAN
March 17, 2014 Indonesia’s next president is unlikely to make major changes to Indonesia’s controversial mining rules, after major political parties backed an export ban that has led miners to halt $6 billion in annual mineral exports according to an overseas news report. The broad political support will disappoint miners, like Freeport-McMoRan Copper & Gold and Newmont Mining Corporation , that may have been hoping the tough new rules were only temporary measures imposed by a lame duck administration. Political parties representing presidential front runners for the July election told the British Reuters News Service they support the current government’s moves to ban mineral exports and tax concentrate shipments, aimed at forcing miners to build smelters in Indonesia Freeport has cut copper output by 60 percent due to a prolonged dispute over the export tax imposed by President Susilo Bambang Yudhoyono, who is barred from running for a third term.Freeport McMoRan, whose Indonesian mining unit runs the world’s fifth-largest copper mine, has refused to pay an escalating export tax introduced on January. 12 as part of a package of new mining rules, and has been in on going talks with the government on the issue and demands to build a copper smelter in that country.. Maintaining the mineral ore export ban would provide legal certainty for foreign mining firms, like Russia’s United Company Rusal, that are looking to expand into Indonesia and invest billions of dollars on new smelters. Maxim Sokov, who is the First Deputy Chief Executive Officer for the parent company that owns Rusal told Reuters News “If Indonesia sticks strictly to the rules, the investment will come,”noting the Russian company had signed an Memorandum of Understanding last month with the Indonesia government to invest as much as $3 billion in smelters. Ted Lake email@example.com MIAMI EXPLORATION DRILLING TO BEGIN
March 14, 2014 In its latest quarterly financial report just released, Calgary based Copper Fox Metals Inc told its stockholders the company was expecting to begin copper exploration drilling in the town of Miami this month. Copper Fox owns some 1,100 acres of mineral rights in, around and under the town which comprises the historic Van Dyke Copper deposit beneath the town . The Canadian company said earlier it planned to launch seven deep diamond drill holes in Miami and a probable twenty five additional exploration drill sites depending upon the results of the first seven. According to officials of Copper Fox, the proposed verification drilling program covers an 800 meter wide by 500 meter long section through the copper deposit it owns under the town. While Copper Fox is the owner mineral rights in Miami, nearly all of the home owners and commercial building owners have deeds which grants them the surface rights on their properties to a depth of 500 feet. The company went on to say ” Applications for the various permits required to conduct a diamond drilling program has commenced and selection of a diamond drill contractor is complete with the drilling is expected to start in March, 2014. Shareholders were told during the past 90 days, the company imitated a program to verify the historical results from the Van Dyke oxide copper deposit that consists of a 5,000 meter ( approximately nine holes ) diamond drilling program to twin seven historical drill holes, as well as submitting pulps from original drill core samples and splitting the mineralized core interval for certain historical dill holes. Results of the analytical work is expected shortly. In discussing its operating and financial results during the quarter, Copper Fox Metals, Inc said it had a net loss of $182,095, that the company had incurred $769,718 in expenditures towards futhering the development of its Van Dkye copper project in Arizona. Ted Lake firstname.lastname@example.org ASARCO HAS 39 JOB OPENINGS AT RAY
March 12, 2014 ASARCO Copper has posted 39 job alerts for positions that need to be filled at its Ray Mine and Complex located West of its Hayden Smelter and Concentrator. The jobs are as follows with the number of open positions posted on the far right such as 15 persons need as Temporary Summer Laborers. Today at 6:02 PM Temporary Summer LaborerRay Mine – Kearny, AZ15 Supervisor I Operations (SXEW)Ray Mine – Kearny, AZ2 Supervisor I Operations (Concentrator)Ray Mine – Kearny, AZ4 Sr. Supervisor OperationsRay Mine – Kearny, AZ1 Sr. Safety EngineerRay Mine – Kearny, AZ1 Senior Mine Engineer- ProjectsRay Mine – Kearny, AZ1 Senior Electrical EngineerRay Mine – Kearny, AZ1 Safety Engineer InternRay Mine – Kearny, AZ1 Mine Engineer Interns (Mine/Engineering Department)Ray Mine – Kearny, AZ2 Metallurgical Engineer InternsRay Mine – Kearny, AZ3 Metallurgical Engineer IRay Mine – Kearny, AZ1 Mechanical Engineer InternRay Mine – Kearny, AZ1 Maintenance Supervisor I- Utility ShopRay Mine – Kearny, AZ1 Maintenance Supervisor I- ConcentratorRay Mine – Kearny, AZ1 Maintenance Repair B-BM (Boilermaker Welder)Ray Mine – Kearny, AZ1 Geological Engineer InternRay Mine – Kearny, AZ1 General Supervisor Operations Leach/SXEWRay Mine – Kearny, AZ1 Environmental Engineer InternRay Mine – Kearny, AZ1 Ted Lake email@example.com FREEPORT JOBS AT MIAMI AND SAFFORD
March 12, 2014 Freeport McMoRan Copper and Gold, Inc., has the following job alerts out for its mining operations at Miami and Safford. Freeport McMoRan Miami taking applications for the following positions: Technical Instructor/Facilitator in Fixed Plant Maintenance at its Native American Program at San Carlos, Technical Instructor/Facilitator in Heavy Equipment Maintenance at its Native American Program at San Carlos. Other job alerts at Miami are for Diesel Diagnostic Mechanic, Senior Ramp Technician, Diagnostic Mechanic at Rod Plant, Smelter Operator #1, Diesel Maintenance Helper and a Mine Security Officer. Freeport McMoRan Safford seeks a 2014 Summer Intern in Mechanical Engineering, Lab Technician, Infrastructure Technician and the company says there are future opportunities at its Safford open pit mining operations for a Senior Metallurgist and a Mine Engineer. Further information on these job alerts can be found on the company website HERE Ted Lake firstname.lastname@example.org LOWEST IN FOUR YEARS COPPER FALLS TO $2.94 A POUND
March 11, 2014 For the third straight business day copper prices have continued to fall. First, as the result of fallout from weekend news reports that exports from the county of China had dropped nearly 20% from the previous year. Then, there is a follow up story today about a bond default last week announced by the Chinese government and the effect this is having on copper. As of 1pm this afternoon, most big medals stocks were down again for the third day as copper prices had dropped to $2.94 a pound, the lowest since February 2010. However, gold prices continue to increase, up $17 an ounce this afternoon to $1,349. It was only during the first week of January of this year copper had been stable around $3.36 a pound. It was in January of 2011 when copper was selling at an all time record high of nearly $4.60 a pound. Copper prices and copper stocks started dropping again today after Reuters came out with a story reporting “China’s first domestic bond default has shaken the foundations of the copper market, stoking investor worries that financing deals that have locked up vast quantities of copper could unravel.” This anxiety, said Reuters, has led to three days of heavy selling in copper, while having little noticeable effect on other global financial markets. The Shanghai Futures Exchange’s most-traded copper contract reached its lowest level in more than four years on Tuesday, and the London copper benchmark fell to its lowest in more than three years later in the day. . “A lot of that is linked to the financing deals and you start to wonder are they at risk, and I think that is what the market is indeed worried about, and that’s why copper has taken the brunt,” BNP Paribas analyst Stephen Briggs said. The default on a bond payment by China’s Chaori Solar last week signalled a reassessment of credit risk in a market where even high-yielding debt had been seen as carrying an implicit state guarantee. On Tuesday, another solar company announced a second year of net losses, leading to a suspension of its stock and bonds on the Shanghai stock exchange and stoking fears that it, too, may default. The metals markets saw the default as a sign of tighter credit to come for users of metals and for financiers that have used the metal as collateral for borrowing, analysts said. Ted Lake email@example.com
MARCH 11, 2014 TALKS BETWEEN FREEPORT AND INDONESIAN GOVERMENT RUMBLE ON INDONESIA DEMANDING FIRMER SMELTER BUILDING COMMITTMENTS
JAKARTA (Reuters) – Freeport-McMoRan Copper and Gold has cut ore production at its Indonesian copper and gold mine by around 60 percent, a union official said, two months after the U.S. miner halted exports over a dispute with the government on a new tax. The Indonesian labor leader went on to say Freeport McMoRan was still waiting for a government decision on an export tax relaxation, adding that copper concentrate processing facilities were now working at one-third of capacity. It was unclear how long the 60 percent production cut would remain. Freeport, which late last month said it may need to declare force majeure on copper concentrate sales at Grasberg, did not immediately comment on Tuesday. The Arizona-based mining company has been locked in talks with the government for weeks over the controversial export tax on mineral concentrates, which rises from 25 percent this year to up to 60 percent by the second half of 2016 with the government saying the tax would be relaxed if Freeport McMoRan would commit to building a new copper smelter in Indonesia. FREEPORT CUTS SALARIES OF TWO EXECUTIVES
March 5, 2014 (Reuters) - Freeport-McMoRan Copper & Gold Inc halved the base salaries of two members of the Office of the Chairman , according to a filing by the company this week..Executive Chairman James Moffett and James Flores, CEO of Freeport’s oil and gas unit, will be paid $1.25 million instead of $2.5 million. Under the new compensation agreement, Freeport set an overall target compensation of $7.5 million each for Moffet and Flores, including any performance based benefits. In December, company CEO Richard Adkerson, the third member of the Office of the Chairman, agreed to cancel his employment agreement but remain on the job under a new “at will” agreement, with pay and benefits to be determined by the company’s compensation committee. Freeport, like many other top mining companies, has faced criticism in recent years over high executive compensation at a time when declining metal prices and high costs have weighed on share value. LATEST ON FREEPORT’S PROBLEMS WITH INDONESIA
March 4, 2014 JAKARTA (Reuters) – Indonesia’s mines ministry could recommend as early as this week that Freeport-McMoRan Copper & Gold receive a reprieve from a controversial tax that has halted copper exports for more than two months, a government official told Reuters. Freeport and fellow U.S. miner Newmont Mining Corp have refused to pay an export tax on mineral concentrates imposed in January, which rises from 25 percent this year to up to 60 percent by the second half of 2016, saying it breaches their contracts. To win the tax reprieve, Freeport must pay the government a 5 percent security bond for the construction of a smelter and finalize supply agreements with smelter-building companies according to Indonesia’s Director General of Coal and Minerals for the Mines Ministry. He also told reporters “After (meeting those conditions) … I will ask the ministry of finance to reduce, discount or even eliminate the export tax.” . Freeport declined to comment. Finance ministry officials were not immediately available. The export tax was introduced as part of a series of new mining rules, which include a mineral ore export ban, to force companies to build smelters and process raw materials in Indonesia. Disputes and confusion over the new rules have halted around $500 million worth of monthly mineral ore and concentrate exports. Executives from Freeport and Newmont, which together produce virtually all of Indonesia’s copper, have been in talks with the government for weeks over the tax and the building of smelters. A breakthrough appeared to have been reached last week, when Indonesia signaled it was ready to ease the export tax on firms that proved they were serious about building smelters in the country, the first rollback of its new rules. Freeport, which warned last week it may need to declare force majeure on copper concentrate sales if the dispute drags on, has submitted a request to the mines ministry for a permit to resume concentrate exports. UNION PROGRESS MADE IN ASARCO TALKS
March 3, 2014 Labor negotiations over a new proposed three year wage contract for ASARCO copper mine workers are continuing. The next round of meetings between ASARCO management and representatives of six unions is set for March 10th followed by additional bargaining sessions scheduled on March 13th and March 14th The old wage contract expired on July 1st of last year but workers remained on their copper mining jobs since a deal was cut where these employees would be covered under the terms of the old agreement until a new wage package was reached. Negotiations have been underway since. The United Steelworkers Union said talks with the company during last month yielded some progress and ” we reached an agreement on a fair drug and alcohol policy that will help make our work place as safe as possible.” “Importantly, we also traded proposals in successorship and neutrality. Successorship protects our union and our contract if all or part of a facility is sold, and neutrality strengthens our union by establishing a fair set of rules for organizing with the company.”, the union said in a statement. In our part of the state, ASARCO has some 1,400 persons working at their jobs at the Hayden Smelter, Hayden Concentrator and Ray Open Pit Complex where several hundred of these employees live in the Globe-Miami and Superior areas. Ted Lake firstname.lastname@example.org BHP BILLITON REPORTS STRONG FINANCIAL RESULTS
February 28, 2014 BHP Billiton announced its financial results for the December 2013 half year, with Underlying EBIT increasing by 15 per cent to US$12.4 billion and Underlying attributable profit increasing by 31 per cent to US$7.8 billion. BHP Billiton CEO Andrew Mackenzie said the strong performance was driven by a substantial improvement in productivity and additional volume from the Company’s low-risk, largely brownfield investment program. “The commitment we made 18 months ago to deliver more tonnes and more barrels from our existing infrastructure at a lower unit cost is delivering tangible results,” he said. “Annualised productivity led volume and cost efficiencies totalling US$4.9 billion are now embedded and this is expected to increase to US$5.5 billion by the end of the 2014 financial year. “This sustainable increase in productivity supported a 9 per cent increase in the Group’s Underlying EBIT margin to 38 per cent and a strong improvement in the Group’s Underlying return on capital to 22 per cent.” A 65 per cent increase in net operating cash flow and a 25 per cent reduction in cash outflows from investing activities have driven a US$7.8 billion increase in free cash flow during the period. “The Group’s opportunity rich portfolio remains a key point of differentiation. By maintaining strict financial discipline and increasing internal competition for capital we intend to further differentiate ourselves by creating a more capital efficient organisation. “On this basis, we believe an average rate of return of greater than 20 per cent is achievable for our portfolio of major development options,” he said. The Group’s interim dividend of 59 US cents per share was unchanged from last year’s final dividend, consistent with recent practice. The resultant 3.5 per cent increase in the interim distribution highlights the power of the Company’s progressive dividend policy. With strong free cash flow projected, net debt of US$27.1 billion is expected to approach US$25 billion by the end of the 2014 financial year. “With strong free cash flow, selective investment and continued simplification, we are well placed to extend our strong track record of capital management,” Mr Mackenzie said. “I want to acknowledge the hard work of BHP Billiton employees and their contribution to these strong results. Together we are improving the productivity and competitiveness of the Company and the countries in which we operate. Ted Lake email@example.com FREEPORT MCMORAN WARNS OF CUTBACKS
February 28, 2014 Freeport McMoRan Copper and Gold Inc on Thursday says it may have to declare Force Majeure for copper concentrate sales from its Grasberg Copper and Gold Mine in Indonesia because of new regulations on exports imposed by the government there. The mining company according to Bloomberg news said it is considering containing costs, deferring capital spending and cutting workers if it is unable to resume normal operations over an extended period.Force Majeure is a legal clause that allows companies to miss deliveries because of circumstances beyond their control Ted Lake firstname.lastname@example.org FREEPORT TO BUILD COPPER SMELTER IN INDONESIA
Febuary 27, 2014 JAKARTA, (Reuters) – Indonesia will ease a controversial tax on mineral concentrate exports for firms that build smelters in the country, in the first rollback of new rules that have caused its mining industry to grind to a halt. The move is a potential victory for U.S. mining giants Freeport-McMoRan Copper & Gold and Newmont Mining Corp . A senior government official said Freeport would resume exports of copper concentrate in the “near future”. Around $500 million a month in ore and concentrate exports have stopped since the President of Indonesia last month January imposed mining rules, which included the progressive tax and a mineral ore export ban, to force companies to build smelters and process raw materials in Indonesia. The Director of Coal of Minerals in Indonesia told reporters the export tax can be changed and for those who have seriously committed to building smelters it can be lowered or even eliminated. Freeport McMoRan Copper and Gold along with Newmont Mining have refused to pay the progressive export tax, which rises from 25 percent this year to up to 60 percent by the second half of 2016, saying it breaches their contracts . High-level executives from the two companies, which together produce virtually all of Indonesia’s copper, have been involved in talks with the government for weeks over the tax and the building of smelters. British Reuters News Service reports Freeport was seeking permission to resume concentrate exports while it works to build a smelter within three years. A company spokesman in Indonesia confirmed Freeport McMoRan would be building a smelter in that country but decline to comment on the resumption of copper exports from its giant Grasberg Copper and Gold Mine. Freeport and Newmont have until March 7 to sign agreements detailing the volume of copper concentrate they will supply to companies that are building smelters in Indonesia – PT Indosmelt, PT Nusantara Smelting and PT Aneka Tambang (Antam) . Earlier this month, Freeport and Antam agreed to study the possibility of building a $2.2 billion, 300,000 ton smelter to process copper. PINTO VALLEY MINE OWNER REPORTS $9.4 MILLION LOSS
February 21, 2014 Capstone Mining Corporation told stockholders on Thursday (February 20th ) that it had a net loss of $9.4 million for the year 2013. The Canadian Mining company which purchased the Pinto Valley Copper Mine west of Miami last October from BHP Billiton for $650 million said its operating cash flow before changes in working capital was $85.5 million. Capstone ended the year with cash on hand of $104.0 million. Copper production for the year at Capstone’s three operating mines, Pinto Valley (82 days of ownership), Cozamin and Minto ( located in Mexico an Canada ), totalled 113.8 million pounds of copper in concentrates and cathode (109.6 million pounds of payable copper) at a cash cost of $1.72 per payable pound of copper produced. As far as the Pinto Valley mine itself, Capstone said the local mine during its 82 days of its ownership in 2013 produced 29.6 million pounds of copper in concentrates and 1.4 million pounds of copper cathode at a cash cost of $2.26 per pound of payable copper. Darren Pylot, President and Chief Executive Officer of Capstone told shareholders in the firm’s annual report: “This past year was pivotal for Capstone with the acquisition of the Pinto Valley mine, positioning us as a leading intermediate copper producer. In 2014 at Pinto Valley we plan to stabilize the operation, lower costs and complete the study for the second phase, which is intended to extend the mine life. At Cozamin and Minto we are focused on reducing costs and optimizing operations, and we will further advance and de-risk our Santo Domingo development project.” The company official went on to state “Our cash flow remained strong throughout 2013 and we ended the year with over $100 million in cash and a very conservative balance sheet. Our strong financial position provides us with significant flexibility to fund our capital programs and continue to grow the company.” Capstone Mining outlined its Financial and Production Highlights for the year ending December 31, 2013 as follows. •Net loss of $9.4 million or $0.02 per common share which included: •Earnings from mining operations of $57.1 million, •Realized copper price of $3.30 per pound. •Production costs included a $12.5 million non-cash charge related to the write-down of inventory at the Minto Mine, ◦$14.4 million non-cash charge related to the write-down of capitalized mineral property costs at Minto, ◦$15.6 million in current and deferred tax expenses. •Adjusted net earnings of $20.3 million or $0.05 per common share after making adjustments for certain non-cash and other items. •Operating cash flow before changes in working capital of $85.5 million or $0.23 per common share. •Working capital decreased to $140.2 million at December 31, 2013 (which included $104.0 million of cash and cash equivalents) from $562.1 million at December 31, 2012, primarily as a result of closing the transaction to acquire the Pinto Valley Mine on October 11, 2013. •Production of 109.6 million pounds of payable copper at a cash cost of $1.72 per pound of payable copper produced. •Revenue of $332.0 million on the sale of 100.1 million pounds of copper, 14.7 million pounds of zinc, 2.3 million pounds of lead, 1,684,341 ounces of silver and 16,131 ounces of gold. All financial figures are in U.S. Dollars. Ted Lake email@example.com RIO TINTO JOB OPENING IN SUPERIOR, ARIZONA
February 18, 2014 We are looking for a Senior Advisor – Health & Safety, residentially based in Superior or Phoenix (Arizona),to create, implement, improve and sustain systems, processes, and structures for achieving the company’s vision of an injury, illness and incident free workplace for employees and contractors. This role will work on a Monday through Friday roster. What the role entails Reporting to the Manager – Health & Safety, you will be responsible for: •Training mine rescue teams, employees, contractors, trainers and designing, implementing, maintaining competency based training programs as required •Evaluating existing programs, assess improvement needs, establish and drive corrective actions. For e.g. electrical safety, falls protection, hearing conservation etc. •Providing project managers, contractor managers, health and safety personnel, upper management and employees in general with the support they need to fulfil their own safety and health responsibilities •Maintaining current knowledge of federal and state occupational health and safety regulations, solicit, interpret and communicate regulatory advice when needed •Improving the contracts safety addendum and interacting with regulatory agencies on health and safety matters if necessary •Managing internal and external company-wide auditing programs, both the informal spot checks and also the exhaustive system-wide audits •Driving the company to close findings in a timely, effective manner and improving the incident investigation system •Managing a relationship with the key Rio Tinto health and safety experts for sharing of best practices, interpreting and implementing corporate standards and supporting the corporation’s initiatives What you will need for this role To be successfully considered for this role, you will have: •A Bachelor’s degree in Occupational Safety and Health, Engineering or a related discipline •Minimum Four to seven years of experience leading health and safety efforts in mining and construction environment •Certified Safety Professional (CSP) or Certified Mine Safety Professional (CMSP) preferred •Experience in training underground mine rescue teams and general Health and Safety Training (Advantageous) Candidates internal to the Rio Tinto Group must advise their managers of their application prior to progressing to the interview stage. Applications close Tuesday, 4 March 2014. NEW JOB ALERT AT PINTO VALLEY MINE – (Capstone Mining )
February 18, 2014 Job Title: Ore/Water Truck Driver Job Number: PVM-2014-009 Position Summary: Reporting to the Mine Supervisor, operates heavy equipment in the Mine Department, which may include Ore Trucks, Water Trucks, Rubber-Tire Dozers, Track Dozers, and other equipment as qualified and required to operate. Performs other duties as assigned, including shoveling and clean-up. Position Responsibilities: •Promote a safe work environment for employees and contractors. •Housekeeping – equipment glass and interiors, cleaning with shovel/wheelbarrow. •Inspect equipment to identify potential issues; report issues to supervisor to prevent damage or failures. •Operate heavy equipment safely and in accordance with all policies, plans, and regulations. •Prepare and organize work to minimize downtime and maintain feed to crusher. Job Requirements Position Requirements: •Qualified on at least four of the following: 1) Ore Truck – CAT 789D or equivalent 2) Water Truck – CAT 777F or equivalent 3) Dozer – CAT D10T or equivalent 4) Dozer – CAT 834H or equivalent 5) Rotary Drill – 6420 or equivalent •High School Diploma or GED •Valid Arizona Driver’s License •Able to speak, comprehend, read, and write English The Ideal Candidate will have: A strong commitment to safety A willingness and ability to follow rules, regulations, and policies. Previous qualifications on all equipment listed above. This position will be based at the Pinto Valley Mine near Miami, Arizona. Equal Opportunity Employer Job Type Full-time Education High School Diploma or GED Location Miami, AZ 85539 US (Primary) Category Production HP BILLITON PROFIT $7.8 BILLION
February 18, 2014 BHP Billiton, the world’s biggest mining company based in Melbourne, Austalia, says its profit for the six months ending December 31st, 2013 was up 31 percent from a year earlier. The company said earnings increased because of declining costs of operations an increased earnigs from its global iron ore divisons. Stockholders were told underlying profits increased to $7.8 billion during the last six months of the calendar year 2013 compared to $5.9 billion reported one year earlier. BHP joins London based Rio Tinto in reporting increased profits after clamping down on spending costs to focus on their most profitable mining operations. Ted Lake firstname.lastname@example.org
LATEST ON INDONESIA AND COPPER MINES – Jittery Copper Smelters Eye Supplies: February 18, 2014 (Reuters) – Buying interest from Indian and Japanese smelters for spot shipments of copper concentrate has picked up in recent weeks on growing jitters that an impasse over Indonesian supply may be drawn out, traders said. Indonesia in mid-January slapped a new tax regime on exports of copper concentrate as part of a strategy to boost value from its mineral wealth. Export taxes are set rise to 60 percent by the end of 2016, before a complete ban from 2017. Global miners Freeport McMoRan Copper & Gold and Newmont Mining Corp have said the new regulations conflict with contracts they signed with Indonesia that exempted them from new taxes or duties. Both have halted shipments while they negotiate with the government. But with talks stretching out, and bookings for April shipments set to pick up as top refined copper producer China cranks up for its peak second quarter, some smelters are looking to secure their needs, traders said. Traders said that bids for new shipments have fallen to double digits, from treatment and refining charges (TC/RCs) that have held around the $105-$110 per ton and 10.5-11 cents per pound mark for the past month, indicating smelters are prepared to earn less to win concentrate. The charges dropped from $130 and 13 cents in December 2013 to $100-$105 in mid January after the tax was announced. To some extent Newmont and Freeport have managed to mitigate it. They foresaw this happening, their shipping schedules for exports have been geared towards the latter half of Q1 and into Q2. But obviously, time is ticking.. Some analysts don’t expect a resolution of the shipments issue ahead of Indonesia’s parliamentary elections in April and possibly until a new President is in place by October. Freeport said earlier this month that it would look at building a new copper smelter, one of the demands of the Indonesian government. Six companies affected by the minerals ban, which includes minerals other than copper, have also begun the process of applying for export permits, which could be approved as soon as next month, a senior government official said this week. RESOLUTION COPPER WATER LINE PROJECT
February 17, 2014 Starting this week Resolution Copper will be doing some work on property it owns in the town of Superior. Company spokesman David Richins announced “We will be doing work on the hill above the old Superior High School (now owned by Elijah Cardon).” Richins went on to say the project involves installing an upgraded water line supply to our onsite tank. This is to accomplish a consolidation of our water inputs into one loation from the Arizona Water Company. “This will not increase the amount of water we use from Arizona Water Company. What you will see is heavy equipment, grading, digging, and installation of infrastructure. The work is intended to last through July 14th.” Richins is the Princpal Advisor of Government Affairs for Resolution Copper. Ted Lake email@example.com RIO TINTO EARNINGS $10.2 BILLION
February 14, 2014 Global mining Giant Rio Tinto has announced its underlying earnings in 2013 were $10.2 billion which is a 10 percent increase from the previous year. Stockholders were also told the London based company’s operating cash improvements were $2.3 billion for the year which exceeded the target of $2 billion. Exploration and evaluation savings delivered $1 billion, against the 2013 target of $750 million. At Rio Tinto’s various operations production records were set for iron ore, bauxite and thermal coal with strong recovery in copper volumes. Net earnings of $3.7 billion reflect non-cash exchange losses of $2.9 billion and impairments of $3.4 billion. Sam Wash, Chief Executive Officer of Rio Tinto said “These strong results reflect the progress we are making to transform our business and demonstrate how we are fulfilling our commitments to approve performance, strengthen the balance sheet and deliver greater value for shareholders.” Walsh also announced a 15 percent increase in the full year dividend for stock holders. Rio Tinto is the owner of the Resolution Mining Company with headquarters in Superior, Arizona and the proposed seven thousand foot deep underground copper mine East of the town of Superior. Ted Lake firstname.lastname@example.org MORE ON FREEPORT’S MAJOR PROBLEMS IN INDONESIA
February 13, 2014 JAKARTA, Feb 12 (Reuters), – Indonesia will maintain its trade surplus this year even as it implements a mineral export ban which has so far halted $500 million worth of monthly ore and concentrate shipments, a senior government official said on Wednesday. “We are ready to take the consequences. There will be a little bit of suffering in exports this year and maybe a little bit early next year,” Deputy Trade Minister Bayu Krisnamurthi told reporters. “But we will definitely keep a trade surplus this year.” President Susilo Bambang Yudhoyono on Jan. 12 imposed new mining rules, including the controversial ore export ban and progressive export taxes on concentrates, aimed at forcing miners to build smelters and process their raw materials in Indonesia. The policies have forced U.S. mining giants Freeport McMoRan Copper & Gold and Newmont Mining Corp to halt all exports, as both firms say the export tax breaches their mining contracts and it is not economically viable to make such large smelter investments in Indonesia Ted Lake email@example.com FREEPORT MCMORAN MAY BUILD COPPER SMELTER IN INDONESIA
February 13, 2014 JAKARTA, – Major mining firms Freeport-McMoRan Copper and Gold and state-owned PT Aneka Tambang (Antam) on have agreed to study the possibility of building a copper smelter to comply with a new Indonesian law banning the export of mineral ore. The companies have warned that their operations will suffer unless they are given leeway in the regulations that came into effect in January to give them time to meet the requirements. Freeport McMoRan operates the Grasberg Mine in Indonesia which is believed to have the richest and most remote copper and gold deposits in the world. However, since the beginning of this year Phoenix based Freeport McRran has been unable to ship any copper and gold produced at its mine there to oversea markets because it has not been given approval to do so by Indonesia officials under the new law which went into effect The law sparked widespread concern about its impact on the mining industry and its potential to further undermine confidence in Indonesia’s economy. Metal ore and concentrate exports ground to a complete halt, government officials said in January, two weeks after the ban on ore shipments and an export tax were put in place Freeport Indonesia CEO Rozik Sutjipto said both companies had agreed to look into the feasibility of building a $2.2 billion, 300,000 tons capacity smelter to process copper in one of four different areas, including Gresik in east Java where a smelter already exists. Another possible location is Papua, the remote eastern region where Freeport operates the world’s fifth largest copper mine and its top gold mine. Sutjipto said the study would take three months. The long-planned ore export ban is aimed at shifting Indonesia away from a reliance on exports of raw materials for economic growth. Many in the industry have criticized the government for the way it introduced the policy and for making little preparation for the law’s enactment even though it was originally agreed by parliament some five years ago Ted Lake firstname.lastname@example.org COPPER FOX RELEASES FINANCIAL REPORT
February 13, 2014 Copper Fox Metals, Incorporated, which owns 1,100 acres of mineral rights in, around and under the town of Miami, has released its Annual Financial Results for 2013. Stockholders were told the company’s net income for the year was $1.39 million after reversal of deferred tax liability of $4.01 million and expenses of $2.63 million ($0.00 income per share ). Copper Fox said it also incurred $2 91 million in acquisitions and development costs for its Arizona projects along with expenditures of $3.89 million for its copper, gold, and molybdenum silver project in northwestern British Columbia, Canada. Early last month, Copper Fox Metals announced its drilling plans for its underground Van Dyke Copper Project in the town of Miami, Arizona. The Canadian Company said it will seek the necessary permits to drill seven deep diamond dill holes in the town and a probable twenty-five additional exploration diamond drill sites in Miami depending upon results of the first seven drills. The exploration drilling program is being conduct here though its U.S subsidiary, the Desert Fox Minerals Company which has opened an office on the East side of Miami off U.S. highway 60 Ted Lake email@example.com ASARCO MINE INTERNSHIPS
February 12, 2014 Internships are being offered by ASARCO at its mining operations here in Arizona. The program is for full time university or college students. Those accepted for Internships must make at least a ten week commitment in the company’s program between Mid May and Mid August. Those applying for acceptance of an Internship must be a sophomore, junior, senior or graduate level student and must be majoring in fields closely related to the Internship position. Complete details can be found at ASARCO.com At the ASARCO Hayden/Ray Operations south of Globe-Miami, the company is taking applications for the following Internships: Chemist/Chemistry Intern Mechanical Engineer Intern Electrical Engineer Intern Geological Engineer Environmental Engineer Interns Mine Engineer Interns (several openings ) Metallurgical Interns ( several openings ) Safety Engineer Intern Ted Lake firstname.lastname@example.org MAKING COPPER NOW COSTS $1.34 A POUND
February 12, 2014 Mexico City based Grupo Mexico, which owns the ASARCO Copper minesin Arizona and other copper mines in Mexico and South America continues to work at keeping its costs low in the production of of copper. Officials of the Mexico City based mining and transporation (railroads) company came out saying their operating costs per pound of copper, cash cost, net of by products, was $1.34 a pound during in the 4th Quarter of last year (2013) which is higher than the cost $1.29 a pound in the 3rd Quarter of 2013. Compared to the 4th quarter of 2012 the cost was $2.07 a pound and during the 3rd Quarter of 2012 it was $1.93 a pound. All figures are in U.S. Dollars. Ted Lake email@example.com DETAILS ON EPA COPPER SMELTER HEARINGS
Febuary 8, 2014 The U.S. Environmental Protection Agency will be holding two public hearings at the end of this month in Phoenix and Tucson on tougher new regulations to be imposed on the operations of: Freeport McMoRan’s Miami Copper Smelter and ASARCO’s Hayden Copper Smelter. Persons with comments or information are invited to participate. The EPA wants these increased pollution controls for the purpose of improving the visibility of national parks and wilderness areas in areas. Four other industrial operations in the state will also be subject to the new EPA changes. The public hearings will be as follows: The San Francisco Office of the Environmental Protection Agency says it will also be taking written comments from the public for 45 days after publication in the federal register. Public Hearing in Phoenix: Date: February 25, 2014. Open House: 4:00—5:00 p.m. Public Hearing: 6:00—8:00 p.m. Location: Phoenix Convention Center, Rooms 150-153, 33 South 3rd Street, Phoenix, Arizona 85004. Public Hearing in Tucson: Date: February 26, 2014. Open House: 4:00—5:00 p.m. Public Hearing: 6:00—8:00 p.m. Location: Tucson High Magnet School, Auditorium, 400 North 2nd Avenue, Tucson, Arizona 85705. Ted Lake firstname.lastname@example.org GRUPO MEXICO PROFIT DROPS 42%
Febuary 7, 2014 Mexico City based Grupo Mexico, owner of the ASARCO copper mines here in Arizona, said profits during the fourth quarter of 2013 fell 42 percent to $453.9 million because of weaker metal prices . The company said its revenue for the the quarter totaled $2.33 billion, down 6.5% from a year ago. Stockholders were told gold production at all of its mining operations in Arizona, Mexico and South America fell 24% to 10,265 ounces for the quarter while copper production increased 1.2 percent to 206,712 tons and silver fell 1.2 percent to 3.8 million ounces. Grupo Mexico said the government of Mexico’s recently passed 7.5 percent mining royalty will not have a significant impact on its mining division. The company’s transportaton division owns nearly all of the major railroads in Mexico. Ted Lake email@example.com RESOLUTION COPPER MINING BEGINS WORKER TRAINEE PROGRAM
February 6, 2014 SUPERIOR, Ariz., Jan. 28, 2014 – Resolution Copper Mining is beginning a Worker Trainee Program as part of its commitment to develop local employment opportunities. To launch the program, the company is offering three trainee positions that will last six months and pay $15 per hour. One position is in the mine’s water treatment plant, a second is in core-handling operations, and a third is in Resolution Copper’s administration offices. The water treatment plant trainee will gain an understanding of water treatment operations and design, learn water laboratory best practices, and acquire basic data analysis skills. The core-handler trainee will be certified in forklift operation, gain warehousing experience, and learn how to work with tools such as grinders, saws and scrubbers. The administrative trainee will work with Microsoft Office programs, learn letter writing and formatting, gain filing skills, and work as an office receptionist. “Our objective is to provide trainees with skills needed to succeed in a modern workplace setting,” said Andrew Taplin, project director for Resolution Copper. “Beyond the job-specific skills, trainees will learn techniques for resume writing and job interviews, workplace etiquette and ethics, communication skills, and the ability to be flexible and adaptable on the job.” Acceptance into the program is not an offer of permanent employment. To be considered for the program, an applicant must be at least 18 years old, have a high school diploma or a GED certificate, and have a valid Arizona driver’s license. Before final acceptance, selected applicants are required to undergo a background check, a physical fitness test, and drug and alcohol screening. Trainees also will undergo safety training as required by the Mine Safety and Health Administration. Applicants can email resumes to Monica.Denogean@resolutioncopper.com or apply in person at Resolution Copper’s office at 402 W. Main St. in Superior. More information is available by calling 520.689.9374. Ted Lake firstname.lastname@example.org UNIONS: ASARCO SEEKS BONUS CUTS
February 6, 2014 Labor talks between 6 unions and ASARCO for a new three year wage package are now entering month number eight since the old labor agreement expired last July 1st. However ASARCO mine workers in Arizona continue to remain on their jobs under the terms of the old contract. Locally there are 1,400 employees at the Hayden Smelter/Concentrator and Ray Complex south of Globe-Miami. As the company and unions continue to meet, the United Steelworkers Union issued a statement claiming management is pushing for steep economic cuts and because of payments mailed out last week to copper mine workers from ASARCO, the union said “We should review changes ASARCO has proposed to the Copper Price Bonus, which totaled $1,890 per employee for the fourth quarter of 2013.” The Steelworkers Union is claiming during the latest round of talks the company owned by Mexico City based Grupo Mexico is seeking the following concessions from workers. A reduction in bonus payment ( and no payment if copper prices fall below $2.80 per pound ). Continued disqualification of any employees hired on or after July 1, 2011. Disqualification if production is less than 95% of the company’s budgeted production. . Disqualification for any employee receiving a disciplinary suspension. A proportionate reduction in the bonus for any employee absent from work. The Steelworkers went on to state ” To be clear, we are still waiting for a decision in the Copper Price Bonus arbitration case brought against management for breaking our contract by withholding the payment from newer hires and will report the arbitrator’s findings when we receive them.” ASARCO has not issued updated statements as the progress of the labor talks. Ted Lake email@example.com THE ENVIRONMENTAL PROTECTION AGENCY WILL BE HOLDING PUBLIC HEARINGS
February 3, 2014 The Environmental Protection Agency will be holding public hearings later this month on additional stricter regulations proposed for the continued operations of the Freeport McMoRan Copper Smelter in Miami and the ASARCO Copper Smelter in Hayden. The purpose of the additional rules just announced are to improve visibility at natural parks and wilderness areas in our state. Interested persons have the opportunity to present their views and further information at a February 25, 2014 EPA public hearing scheduled 6 to 8pm at the Phoenix Convention Center in rooms 150-153, 33 South Third Street in Phoenix, or another EPA hearing scheduled February 26th at the Tucson High Magnet School Auditorium at 400 North 2nd Street in Tucson from 6 to 8pm. Open houses will be held at each location one hour before hearing time. The EPA San Francisco office says it will also be accepting written public comments after publication in the Federal Register. A final termination on these new pollution laws effecting the two copper smelters in Southern Gila County and four other industrial operations in the state will be made by June 27, 2014. Further information on the proposed new pollution controls can be found at www.epa.gov/region9/air/actions/az.html Ted Lake firstname.lastname@example.org COPPER HEADS FOR LONGEST SLUMP IN 15 MONTHS
January 29, 2014 Copper futures fell, capping the longest slump in 15 months, on speculation that rising borrowing costs in emerging markets will damp economic growth, eroding demand for industrial metals. Copper has dropped 12 percent in the past 12 months, partly as economic growth eased in China, the world’s largest user. Global production will outstrip consumption by 167,000 metric tons this year, following a deficit of 137,000 tons in 2013, Barclays Plc has said. “More problems in emerging markets are going to limit the demand for copper,” Michael Smith, the president of T&K Futures & Options Inc. in Port St. Lucie, Florida, said in a telephone interview. “Some people think anytime a country has to raise interest rates just to keep money there, that means there’s something wrong.” Copper futures for March delivery fell 0.4 percent to settle at $3.2405 a pound at 1:18 p.m. on Comex in New York. The metal dropped for the sixth straight session, the longest slump since Oct. 29, 2012. Ted Lake email@example.com FREEPORT STILL NOT SHIPPING COPPER FROM INDONESIA
January 29, 2014 Phoenix based Freeport McMoRan Copper and Gold, owner of the world’s second biggest copper mine located in Indoneisa has yet to begin copper concentrate shipments from its huge Grasberg mine as it awaits permits more than two weeks after the Indonesia government set new export rules. Chief Executive Officer Richard Adkerson flew to Jakarta from Arizona to meet with Industry Minister M.S. Hidayat in discussions over the issue. . . “We are committed to be a positive partner with the government of Indonesia,” Adkerson told Bloomberg News in Jakarta. “The export duty was announced just over two weeks ago, and so the purpose of my trip here is to have discussions with the minister, with other ministers, as it creates an issue that needs to be resolved.” Ted Lake firstname.lastname@example.org EPA MOVING TO SHUT COPPER SMELTERS DOWN?
Janauary 28, 2014 The Miami and Hayden Smelters hit again with even more new pollution controls. Bottom line, it looks like the Obama Administration is on the move to put copper smelters out of business here in Gila County. If this happens look out. School district and county tax payers are going to be hit hard if the huge local tax paying smelter operations are shut down by the federal government. One can expect some gigantic jumps in property tax bills along with possible major layoffs at the copper mines and in the operations of the Gila County Government here in Globe. Here is the latest which came out today. The Freeport McMoRan Copper and Gold, Miami Smelter and ASARCO’s Hayden Smelter are among six companies listed in Arizona being targeted now for even tougher new pollution controls in an announcement made today by the Environmental Protection Agency. These new restrictions are apparently on top the stricter regulations the two copper smelters here in Southern Gila County and power plants in North Eastern Arizona got hit in January of last year when the U.S. Supreme Court upheld earlier new air pollution restrictions introduced in 2012 by the EPA. And now operating the copper smelter here in Gila County is going to be even tougher with the latest announcement from the agency’s San Francisco office which said: The U.S. Environmental Protection Agency is proposing pollution controls at six facilities in Arizona to improve visibility at national parks and wilderness areas. EPA is proposing a federal plan to limit emissions such as nitrogen oxides and sulfur dioxide tailored to six facilities: Tucson Electric Power’s Sundt Plant in Tucson, Chemical Lime Nelson in Peach Springs, ASARCO’s Hayden Smelter, Freeport McMoran’s Miami Smelter, Phoenix Cement Company’s Clarkdale plant and CalPortland Cement Company’s Rillito plant. As a part of this process, EPA also evaluated other sources but is not proposing to require any additional controls on these other sources at this time. EPA estimates the proposal would reduce sulfur dioxide by almost 30,000 tons per year and nitrogen oxides by 3,100 tons per year.EPA will hold public hearings on February 25, 2014, in Phoenix and on February 26, 2014, in Tucson and will accept comments for 45 days after publication in the Federal Register. A final determination will be made by June 27, 2014. Ted Lake email@example.com 60 DAY COPPER PRICES BY KITCO
January 28, 2014 Ted Lake firstname.lastname@example.org FREEPORT MCMORAN PROBLEMS
January 24, 2014 Phoenix based Freeport McMoRan Copper and Gold has announced the company will defer the equivalent of a 10th of its monthly sales from its Grasberg Cpper and Gold Mine until delays related to the new Indonesia export regulations are resolved. The mining company said it has not received administrative approval from the Indonesian government for its 2014 exports from its giant Grasberg mining operation. Freeport according to Bloomberg News expects to defer 40 million pounds of copper and 80,000 of gold each month. Last week Freeport told stock holders that the Indonesian government had imposed new progressive export duties on copper concentrates from the Grasberg mine in the amount of 25% for this year and rising up to 60% next year. Ted Lake email@example.com FREEPORT MCMORAN’S 2013 NET INCOME – $2.7 BILLION
January 22, 2014 Officials of Phoenix based Freeport McMoRan Copper and Gold Inc released the company’s final quarterly report for 2013 today and here is what stockholders were told: Net income for fourth-quarter 2013 totaled $707 million, compared with a net income of $743 million for the fourth quarter of 2012. Net income for the year 2013 totaled $2.7 billion compared with $3 billion last year. Consolidated sales for the fourth-quarter of 2013 totaled 1.14 billion pounds of copper, 512 thousand ounces of gold, 22 million pounds of molybdenum and 16.6 million barrels of oil equivalents compared with 972 million pounds of copper, 254 thousand ounces of gold and 21 million pounds of molybdenum for the fourth-quarter 2012. Consolidated sales for all of last year included 4.1 billion pounds of copper, 1.2 million ounces of gold, 93 million pounds of molybdenum and 38.1 million barrels of oil equivalents for the seven month period of June 1, 2013 to December 31, 2013. Average realized prices for the fourth quarter of last year were $3.31 per pound of copper compared to $3.60 a year ago , $1,220 per ounce of gold compared with $1,681 per ounce during the same time period last year. Freeport McMoRan also reported operating cash flow totaling $2.3 billion for the fourth quarter of 2013 and $6.1 billion for the year 2013. Capital expenditures were $1.1 billion for the quarter just ended and $5.2 billion for all of last year. As of December 31, 2013, consolidated cash flow totaled $2 billion and consolidated debt was $20.7 billion. During 2013 the company said it paid $2.3 billion in common stock dividends including a $1 dollar supplemental dividend which was paid on July 1st 2013. . Freeport said it was presently targeting reductions in total debt to $12 billion by year-end 2016 and it will continue to review its portfolio of assets and will consider opportunities to accelerate its deleveraging plans through potential asset sales, joint venture transactions or further adjustments to capital spending plans. At December 31, 2013, Freeport McMoRan Copper and Gold Inc. said it had no borrowings outstanding and $46 million of letters of credit issued under its $3.0 billion revolving credit facility. Freeport McMoRan Copper and Gold Inc operates seven open pit copper mines in North America. They are at Morenci, Bagdad,Safford, Sierrita and Miami in Arizona, and the Chino and Tyrone mines in New Mexico. All of the North America mining operations are wholly owned, except for Morenci. Freeport Mc MoRan records its 85 percent joint venture interest in Morenci . The Company says it has increased production from its North America copper mines in recent years and continues to evaluate a number of opportunities to invest in additional production capacity following positive exploration results. Future investments will be undertaken based on the results of economic and technical feasibility studies and market conditions. At Morenci the company says it is expanding mining and milling capacity to process additional sulfide ores identified through exploratory drilling. The project is targeting incremental annual production of approximately 225 million pounds of copper in 2014 (an approximate 40 percent increase from 2013) through an increase in milling rates from 50,000 metric tons of ore per day to approximately 115,000 metric tons of ore per day. At full rates, Morenci’s copper production is expected to approach 1 billion pounds in 2015 compared with 564 million pounds in 2013 Construction is more than 60 percent complete and the project is on track for completion in the first half of 2014. At December 31, 2013, approximately $1.0 billion had been incurred for this project, with approximately $0.6 billion remaining to be incurred. Stock holders were advised about upcoming regulatory matters pertaining to Freeport’s 90.64 percent owned Grasberg Mine in the Papua District of Indonesia. This huge mining operations has one of he world’s largest deposits of Copper and Gold. The company said it was just last month when the Indonesian government published new regulations regarding exports of minerals, including copper concentrates. The regulations provide that holders of contracts of work with existing process facilities in Indonesia at the Company’s Grasberg mine continue to export product through January 12, 2017, but established new requirements for the continued export of copper concentrates, including the imposition of a new progressive export duty on copper concentrates in the amount of 25 percent in 2014, rising to 60 percent by mid-2016. Officials of Freeport McMoRan Copper and told stock holders in their latest financial report, “Our fourth-quarter results reflect strong operating performance in our global mining and oil and gas businesses. As we enter 2014, we are positive about our large and diverse portfolio of assets and resources, which provide attractive near-term and longer term growth opportunities. We remain focused on building value for shareholders through strong operations, investing prudently in our financially attractive projects, achievement of our debt reduction initiatives and providing cash returns to shareholders.” Ted Lake firstname.lastname@example.org THE SAN CARLOS MINE TRAINING INSTITUTE GRADUATION SET
January 17, 2014 The San Carlos Mine Training Institute has announced that its graduation ceremonies for 30 students will be held 10am on Friday January 31st in San Carlos. The Institue is a partnership with Freeport McMoRan Copper and Gold, Inc. and the San Carlos Apache Tribe in providing mining skills training to tribal members. According to the San Carlos Moccasin, upon graduation students are encouraged to apply for Freeport McMoRan jobs available at Morenci, Safford, Miami and other mining locations. The program on the Reservation kicked off in the fall of 2012 and momentum continues to grow with tribal member David Reede coordinating the efforts as Project Director. Participation in the various programs is currently at 182 students with the upcoming graduating class of 30 trainees. Ted Lake email@example.com Capstone Mining Copper Production Results
January 16, 2014 Capstone Mining Corporation has announced operating results for the three and twelve month periods ending December 31, 2013 of its three operating mines: Pinto Valley, Cozamin and Minto. Combined production totaled 56.9 and 113.8 million pounds of copper (in concentrates and cathode) in the fourth quarter and full year 2013. 2013 Production (millions of pounds) Q1 Q2 Q3 Q4 2013 Pinto Valley
(for 82 days of ownership) Copper in concentrates - - - 29.6 29.6 Copper cathode - - - 1.4 1.4 Pinto Valley Total - - - 31.0 31.0 Cozamin
Copper in concentrates 10.1 12.1 11.6 11.6 45.5 Minto
Copper in concentrates 8.5 7.2 7.3 14.3 37.2 Total Copper production(1)
18.6 19.3 18.9 56.9 113.8 Totals may not add due to rounding. (1) Total production includes copper in concentrate and cathode production. “Capstone met overall 2013 copper production targets, with outperformance at Pinto Valley and Cozamin comfortably offsetting lower production at Minto,” said Darren Pylot, President and CEO of Capstone. “Pinto Valley performed very well in the fourth quarter and is presently operating very close to the targeted mill throughput rate of 50,000 tons per day. Cozamin performed better than plan and the grade increase at Minto made a meaningful contribution to the very strong performance for the quarter.” Operational Highlights
At Pinto Valley we exceeded our earlier production forecasts as throughput and recoveries trended to targeted sustainable rates through the end of the year. Cozamin performed better than expected in the fourth quarter and posted an excellent result for the year. The mine achieved an annual throughput record in 2013 of 3,305 tons per day, with grade and recoveries coming in very close to expectations for the quarter and year. At Minto, November and December were pivotal months with ore grade increasing to over 2% copper and recoveries at high levels. The mill achieved a monthly throughput production record in December of 4,179 tons per day. Ted Lake firstname.lastname@example.org UPDATE ON ASARCO LABOR TALKS
January 14, 2013 The United Steelworkers Union has issued the following statement about the on going labor talks between six unions and ASARCO Management for a new three year wage package for some 2,400 union copper workers: Last week, our negotiating committee resumed negotiations with Asarco/Grupo Mexico management for the first time since early December. With strong employee participation at all Asarco/Grupo Mexico locations in the most recent round of meetings, rallies and other activities demonstrated our unity and solidarity, and it is clearly having an impact on management. We are pleased to report that we made progress on a number of contract language issues where the company had previously proposed radical changes. As a result of our collective efforts, the company has withdrawn several of its proposed unfair and unnecessary changes to our contract language. While we have made some progress, we are still far away from reaching a fair contract. Several of the company’s most ambitious concessionary demands remain on the table, including economics. Our next meetings with management are scheduled for January 20-21. Ted Lake email@example.com COPPER FOX ANNOUNCES PURCHASE VAN DYKE PROPERTIES – RECA
P JANUARY 12, 2014 Here is a recap of what was said on April 12, 2013 when Copper Fox Metals of Canada announced it had purchased 1,100 acres of mineral rights in, around, and under the town of Miami ( including some surface rights in the town and mining claims on more than 400 acres of BLM land west of Town) . These holdings for years have been known as the Van Dyke Properties which were originally unowned by Cleve Van Dyke, the1910 founder of the town of Miami who actually had a copper mine under the town still operating some sixty years ago: Under the terms of the acquisition, Copper Fox acquired the Van Dyke Deposit by paying to Bell Copper CDN$500,000 in cash, paying to the vendors of the Van Dyke Deposit US$1.5 million and assuming the continuing obligations in respect of the Van Dyke Deposit, subject to certain amended terms and conditions. Highlights:
A number of historical studies have been completed on the Van Dyke Deposit between 1973 and 1981 by Occidental Minerals Corporation (“Occidental”), AMAX and Utah, all large copper producing companies at that time, A historical estimate* of 119.2 million tons of oxide copper mineralization with an average grade of 0.52% copper (estimated to contain 1.2 billion pounds of copper) prepared by Occidental in 1976 is reported for the Van Dyke Deposit, Diamond drilling on the Van Dyke deposit indicates several extensions including the reported existence of primary sulphide copper mineralization below and to the east of the oxide mineralization, and Preliminary in-situ leaching metallurgical testwork indicated copper recoveries up to 80% using hydrofracturing to improve fluid circulation. *The historical estimate reported for the Van Dyke Deposit is historical in nature, Copper Fox wishes to clarify that an independent Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and accordingly, Copper Fox is not treating the above historical estimate as current mineral resources or mineral reserves. In order to verify the historical reserves a current Feasibility Study would be required which would include additional diamond drilling, metallurgical testwork, updated cost assumption and metal pricing. Mr. Stewart, President and CEO of Copper Fox stated, “The acquisition of the Van Dyke Deposit adds another significant under explored copper asset to the Company. The historical work completed on this deposit including resource estimation, preliminary in-situ leaching testwork and an economic evaluation, all completed on or before 1981 yielded positive results. The historical information also suggests possible extensions of the copper mineralization at depth and along strike. This acquisition complements our large Schaft Creek copper-gold-molybdenum-silver deposit and provides the Company an under explored advanced project with excellent logistics located in a major copper producing district in Arizona.” Van Dyke Deposit:
The Van Dyke oxide copper deposit is located in the Globe-Miami Mining district of Arizona; 90 miles east of Phoenix, Arizona which host several large producing copper mines. The Van Dyke property was developed in the early 1900′s and is reported to have produced 11.8 million pounds of copper between 1929 and 1945 from copper oxide mineralization with a reported grade of 5.0 % copper. Between 1968 and 1980, Occidental held the property. During that time a total of 70 exploration holes (sixty-two of which encountered measureable copper mineralization) were completed on the Van Dyke property from which 46 were used to estimate a historical resource. Between 1973 and 1976, four historical estimates were completed on the Van Dyke oxide copper deposit by major copper producing companies such as Occidental, Amax, and Utah International. The historical estimates range from 103,000,000 tons grading 0.53% copper (Occidental) to 140,858,000 tons grading 0.40% copper using a 0.20% copper cutoff. A polygonal method was used to complete two of the historical resource estimates and cross-sections were used for the balance of the historical estimates. In 1976, Clyde R. Caviness authored a report dated March 1, 1976 and entitled “Van Dyke Ore Reserve Report (the “Caviness Report”) on behalf of Occidental, prior to the implementation of NI 43-101. The Caviness Report was completed using 34 diamond drill holes and cutoff grades that ranged from 0.10% to 0.40% copper, and was based on diamond drilling and information compiled by other companies who reviewed the data for the Van Dyke Deposit. Caviness estimated the volume of the mineralization on each cross-section within the deposit and estimated the volume of the mineralization between the cross-sections. The maximum distance of extrapolation used for the estimation was 400 feet between drill holes. Caviness used the extension of the mineralized trend, geology and grade of adjacent drill holes to extrapolate between the drill holes. The tonnage factor for the estimate was 12.5 cubic feet per ton. Copper assays over 2.5% were not used in the estimate. Caviness considered the estimate to be a geological ore reserve as no mining method was selected for the deposit. At a 0.20% copper cutoff, Caviness estimated that the oxide portion of the Van Dyke Deposit contained 119,202,000 tons grading 0.52% total copper. Caviness also identified several possible extensions to the deposit based on drill results. Copper Fox has not completed the work necessary to verify the historical estimate contained in the Caviness Report. Accordingly, Copper Fox is not treating the historical estimates contained in the Caviness Report as NI 43-101 compliant categories of mineral resources or mineral reserves based on information prepared by or under the supervision of a QP. In 1981, the Van Dyke Copper Company retained Thomas Clary (geologist), James Fletcher (mining engineer) and Floyd Ingram (geologist) to complete a report entitled “Economic Evaluation of the Van Dyke Oxide Copper Deposit, Miami, Arizona” dated October 15, 1981 (the “Van Dyke Report”). The Van Dyke Report is historical in nature and yielded the following results:
*The Van Dyke Report is historical in nature. Copper Fox wishes to clarify that an independent Qualified Person has not done sufficient work to classify the historical estimate Van Dyke Report as current mineral resources or mineral reserves, and accordingly, Copper Fox is not treating the Van Dyke Report as current mineral resources or mineral reserves. The reported historical information, metallurgical recoveries and cost assumptions used in the Van Dyke Report have not been verified and this historical data has not been adequately reviewed by independent Qualified Persons. To upgrade the information contained in the Van Dyke Report, additional diamond drilling, metallurgical testwork, updated cost assumption and metal pricing would be required to complete a current Feasibility Study. The Van Dyke Report also stated “The mine life is expected to continue due to possible ore reserves and potential ore reserves” (see above cautionary note regarding resources and reserves). The Van Dyke Report was prepared for the Van Dyke Copper Company (property owners) on October 15, 1981 prior to the implementation of NI 43-101. The Van Dyke Report was prepared using a copper price of $0.85 per pound (the relevant price at the time of the estimate), estimated metal recovery based on preliminary testwork, the application of a proposed mining method and labor rates applicable at that time. However, the Company has not completed the work necessary to verify the historical estimate contained in the Van Dyke Report. Accordingly, the Company is not treating the historical estimate contained in the Van Dyke Report as NI 43-101 compliant categories of mineral resources or mineral reserves based on information prepared by or under the supervision of a QP. In 1979, the New Mexico Tech Research Foundation located at Socorro, New Mexico completed preliminary metallurgical testwork to determine if the oxide copper mineralization in the Van Dyke Deposit was amendable to in-situ leaching on behalf of Occidental. This work was completed under the direction of Dr. Roshan B. Bhappu. Occidental subsequently completed a pilot program of two 1,000 foot deep holes, 75 feet apart, the results of which indicated copper recoveries up to 80% should be realized using in-situ leaching and hydrofracturing to improve fluid circulation. Elmer Stewart, President of Copper Fox, has reviewed the available data, including drill sections, surface maps, and additional supporting information sources, and believes that the historic estimate was conducted in a professional and competent manner and is relevant for the purposes of the Company’s decision to acquire Bell Copper’s interest in this property. In the study, the historic estimate was sub-categorized as a geological ore reserve as no mining method had been applied during the preparation of this historical estimate. Copper Fox has not completed the work necessary to verify the above mentioned historical estimates. Accordingly, Copper Fox is not treating the above mentioned historical estimates as NI 43-101 compliant categories of mineral resources or mineral reserves based on information prepared by or under the supervision of a QP. The Company believes that the historical estimate categories outlined above for the Van Dyke Deposit cannot be compared to the CIM definitions for resource categories. The vendors of the Van Dyke Deposit retain a 2.5% Net Smelter Return (“NSR”) production royalty from the Van Dyke Deposit. Copper Fox, in its’ sole and absolute discretion, has the right to purchase up to 2% of the 2.5% NSR for a period of two years by the payment of US$1.5 million for each 1% NSR purchased. Ted Lake firstname.lastname@example.org COPPER FOX ANNOUNCES MIAMI EXPLORATION DRILLING PLANS
January 13, 1014 Copper Fox Metals, Inc, has announced exploration drilling plans for its underground Van Dyke Copper Project in the town of Miami The Canadian company which owns some 1,100 acres of mineral rights in and around the town of Miami says it plans to seek the necessary permits to drill seven deep diamond drill holes in the town and a probable 25 additional exploration diamond drill sites depending upon results. The project is being conducted here through its subsidiary Desert Fox Minerals, Company. Here is what Copper Fox Metals President Elmer B. Stewart had to say about his company’s latest plans here: “The re-sampling and proposed diamond drilling programs are designed to confirm the historical data in advance of completing a NI 43-101 compliant resource estimation. The resource estimation is the first step towards completion of a Preliminary Economic Assessment of the Van Dyke copper deposit. The gold and silver concentrations available from the historical data are of significant interest and dictate that the distribution and concentration of these elements over the entire deposit need to be determined in order to select the best method in which to evaluate this deposit.” Stewart went on to say: During December 2013, personnel from Moose Mountain Technical Services (“MMTS”) and Knight Piésold Ltd. (“KP”) conducted a site visit and preliminary review of the historical data from the Van Dyke copper deposit. The objective of this work was to assess the quality of the data and to propose a program to complete the geological, engineering and environmental work necessary to prepare a Preliminary Economic Assessment. Mountain Technical Services has recommended a minimum 5,000m (approximately seven holes) diamond drilling program for the Van Dyke copper deposit to confirm the historical drilling results. The program consists of twinning seven historical drill holes, re-submitting pulps from original drill core samples and splitting the mineralized core interval for certain historical drill holes to confirm the historical analytical results. Based on the results of this sampling, MMTS plans to use the new data to verify the accuracy of the historical information and then complete a NI 43-101 compliant resource estimation for the Van Dyke copper deposit. Contingent on the results of the initial drilling program, a follow-up 25 hole drilling program has been proposed for the Van Dyke copper deposit. On completion of each drill hole, hydrogeological and geotechnical surveys will be conducted to collect the information required for a Preliminary Economic Assessment. This information will be incorporated into the project database and form part of the environmental and geotechnical assessment of the Van Dyke copper deposit . The proposed drill holes cover an 800m wide east-west and 500m long north-south section through the deposit. All samples (2014 core, and pulp and split samples from the historical core) will be assayed for total copper, soluble copper, gold, molybdenum and silver as well as a suite of 51 elements for baseline and environmental assessment purposes. Applications for the various permits required to conduct a diamond drilling program and selection of a diamond drill contractor are expected to commence immediately Ted Lake email@example.com LOCAL SMELTER WORK UNDERWAY
January 3, 1014 Freeport McMoRan Copper and Gold in its latest community report said that work on the company’s Miami smelter modernization project to meet new EPA standards is underway. The new tougher restrictions by the Environmental Protection Agency must be met in order for Freeport’s smelter at Miami and also the ASARCO copper smelter at Hayden, Arizona to continue to operate. Both mining facilities are located in Southern Gila County. It was about a year ago when the U.S. Supreme Court upheld the new federal regulations for copper smelters in an appeals case filed by Grupo Mexico and several others. According to Bloomberg News, Grupo Mexico, owner of the ASARCO Copper Mines in Arizona, told the Justices that it could not afford to spend $1.2 billion on its Hayden smelter required under the new laws in order for it to stay in operation. There was also information in the appeal according to Bloomberg that meeting the new EPA regulations for its smelter at Miami was expected to cost Freeport McMoRan Copper and Gold several hundred million dollars. Besides announcing its local smelter project was underway, Freeport McMoRan said at its Miami operations: Work continues on the Webster Lake, #5 Tailings Pond and stockpile reclamation projects. Reclamation activities at the Miami Land Bridge and #5 Davis Stockpile projects will be rescheduled to allow work to be completed by Freeport McMoRan employees. The company says there are some 1,000 full time employees at its operations in Globe-Miami which includes the Miami Mine, Smelter and Rod Plant in addition to some 500 contract workers here. Freeport McMoRan said earlier that it had planned to stop mining at the Miami open pit around the end of 2016 and would begin reclamation work there using company employees who worked in the pit. Ted Lake firstname.lastname@example.org COPPER AND GOLD PRICES
January 2, 2013 The price of copper ended the year 2013 at $3.40 a pound. During the start of last year in early January copper was higher at around $3.68 a pound. The highest price for copper during all of last year occurredon February 13th where it got up to around $3.75. Lowest price for the year was around $3.03 which hit on June 13th. Early today, copper was at $3.41. Gold hit its highest in 2013 in mid January when the price went just over $1,700 an ounce. Lowest price was late last month when gold dropped below $1,200. Early today gold was at $1,223 an ounce Ted Lake email@example.com RESOLUTION LAND EXCHANGE STILL ALIVE AS CONGRESS LEAVES WASHINGTON FOR HOLIDAYS
December 23, 2013 Congress headed home for the Christmas Holidays and its members are not expected to return to Washington, D.C. until early next year. However, all pending legislation that was not completely acted on does not die automatically at the end of this month and this is because the current session of the U.S. Congress does not officially end until December 31st of next year ( 2014 ). This means the proposed Resolution Copper Land exchange legislation introduced in the U.S. Senate by Arizona Republican Senators John McCain and Jeff Flake, which did get a hearing before a Senate sub committe is still alive and can be acted on anytime in 2014 by this committee and the U.S. Senate. Like wise, the same is true for the Resolution Copper Land exchange bill introduced in the U.S. House of Representatives by Republican Congressman Dr. Paul Gosar and Democratic Congresswoman Ann Kirkpatrick. Their bill did get approved by the House Natural Resources Committee, but did not get an opportunity for a full floor vote of the entire House of Representatives which could happen at any time during the coming new year. Ted Lake firstname.lastname@example.org FREEPORT CEO GETS $36 MILLION IN STOCKS
December 23, 2013 Freeport McMoRan Copper & Gold Inc has announced in a news release that it is terminating its employment agreement with its President and Chief Executive Officer Richard Adkerson including salary, bonuses and severance . The Phoenix based mining company said it is granting him 1 million shares of company stock.. According to the Phoenix Business Journal the stock is valued at close to $36 million. Adkerson is staying with the company according to the news release and will continue in his role as President, Chief Executiv3e Officer and Vice President. The Journal noted Adkerson made $14 million in 2012; $30 million 2011 and $39.5 million in 2010, based on company proxy statements. He also had substantial severance and retirement benefits in his previous employment deal with Freeport. That included a $125 million golden parachute if Freeport is acquired and Adkerson was terminated. Ted Lake email@example.com COPPER FOX METALS OPENS MIAMI OFFICE
December 19, 2013
The Canadian company which owns some 1,100 acres of mineral rights in around and under the town of Miami has opened an operations office at the east end of the Town of Miami. It is located in the brown building on the north side of highway 60 and the railroad tracks which has been used in the past by BHP Copper and Barcon Construction Company. Vancouver Based Copper Fox Metals said earlier this month it was opening an office here which would be used by its subsidiary firm, Desert Fox, to do the advance work required on the preliminary economic assessments needed for the Van Dyke copper deposit located under the town of Miami . Elmer Stewart is its President and Chief Executive Officer of Copper Fox Metals. Earlier this month, Stewart called the Van Dyke Oxide Copper Deposit under Miami a significant under explored copper asset of the Company. He went on to say ” The historical estimation, in-situ leaching test work and production data from an in-site leach mining operation completed between the early 1970′s and 1989 yielded positive results. Our immediate objective at Van Dyke is to complete the geological, engineering, geotechnical along with the environmental work necessary to prepare a Preliminary Economic Assessment there by establishing a valuation for this project.” Stewart further described how Copper Fox Metals is presently working on the Van Dyke copper project at Miami. Stockholders were told the following: Moose Mountain Technical Services has been retained to review and model all of the historical exploration and test leaching data with the objective of making recommendation for further work including diamond drilling in Miami to confirm the historical estimate of 112 million tons grading 0.53% copper. Knight Piésold has been retained to review all historical engineering, geotechnical and hydrogeological data generated by Occidental Mineral Corporation in the 1970′s and Kocide Chemical’s test in-situ production data generated between 1988 -1989. Greenwood Environmental working with Knight Piésold has been retained to provide consulting services on the environmental and permitting aspects of a potential in-situ leach mining project on the Van Dyke copper project . About Copper Fox Copper Fox is a Canadian resource development company listed on the TSX-Venture Exchange (TSX-V: CUU) with offices in Calgary, Alberta and Vancouver, British Columbia. In addition to Copper Fox’s 25% interest in the Schaft Creek Joint Venture, Copper Fox holds, through Desert Fox and its wholly-owned subsidiaries, the Sombrero Butte copper project in the Bunker Hill Mining District, Arizona and the Van Dyke copper project in the Globe-Miami Mining District, Arizona. Desert Fox has opened an operations office in Miami, Arizona to advance the work required on the Van Dyke copper project to a Preliminary Economic Assessment. Ted Lake firstname.lastname@example.org THE COPPER PRICES PAST FOR THE PAST 60 DAYS Ted Lake email@example.com ASARCO LABOR NEGOTIATIONS ON HOLIDAY BREAK
DECEMBER 17, 2013 The United Steelworkers Union is claiming that progress in labor talks for a new three year wage package for some 2,400 ASARCO employees has continued to be slow and management continues to demand concessions which will impact hourly employees. This has been the result the union says of meetings held earlier this month between the two sides.. Both the company and the six unions involved have taken a holiday break for now but are schedule to meet again on January 7th of next year. The old wage package expired on July 1, 2013 as workers continue to stay on their copper mining jobs under the terms of the expired agreement. The negotiation have been going on now for more than 6 months. Democratic Arizona Congressman Raul Grijavla sent a letter to ASARCO President and Chief Executive Officer Manuel Ramos this month urging the copper company owned by Grupo Mexico to stop demanding concessions and to bargain fairly. ASARCO has some, 1,400 employees on their jobs at the Hayden Smelter/ Concentrator and the Ray Mine which are located south of Globe-Miami in both Gila and Pinal Counties. Ted Lake firstname.lastname@example.org MARCH 18TH TRIAL SET OVER ADEQ PERMIT ISSUED FOR FLORENCE COPPER MINE
December 16, 2013 A 15-day trial over the Arizona Department of Environmental Quality permit issued for the Florence Copper Project will start on March 18, 2014 . The date has been set by an administrative law judge in Phoenix according to the Phoenix Business Journal. . The $500 million underground Florence copper mining project being proposed by Vancouver base Cirus Resources, Inc looks to extract copper out of parcels of land via a pumping process involving water and sulfuric acid. Opponents of the copper project include the Town of Florence, home builders and the Johnson Utilities water company . Foes of the mine worry it will have detrimental impacts on ground water, and they have challenged a DEQ permit for Florence Copper on a 160-acre parcel of state-owned land where the mining company has attained mining rights. The trial originally had set for this past November but was delayed after the two sides sparred over documentation and evidence related to the permit, as well as some scheduling and logistical matters. The March trial will decide whether or not ADEQ erred in granting an aquifer protection permit in 2012 Ted Lake email@example.com FLORENCE COPPER INC. FILES NOTICE OF CLAIM IN RESPONSE TO EMINENT DOMAIN ACTION
December 12, 2013 Florence Copper Inc says it has filed a Notice of Claim arising from the Town of Florence’s eminent domain action from earlier this year. The Notice of Claim values Florence Copper at $403 million, based on third-party valuation completed by Deloitte LLP, one of the world’s largest and most respected accounting and financial advisory firms. State law requires parties that have been damaged by a government’s action to file a claim within 180 days of the harmful act. The Florence Town Council passed an ordinance last spring seeking to take nearly 1,200 acres of Florence Copper Inc.’s private land for “public facilities” including a purported wastewater treatment facility. In October, the Town filed a lawsuit in Pinal County to initiate the attempted taking of Florence Copper’s private property. “We are being forced to file a Notice of Claim against the Town due to the town council’s unwarranted attempt to take our private property,” said Rita Maguire, Executive Vice President and General Counsel of Florence Copper Inc. “As a publicly traded company, we have a fiduciary obligation to protect the interests of shareholders and that is why this action is being taken today.” Florence Copper is an extensively regulated in-situ copper recovery project, requiring no fewer than 19 government permits and authorizations prior to initiating operations – including permits from the Arizona Department of Environmental Quality (ADEQ) and U.S. Environmental Protection Agency (EPA). The Town’s attempted action does not include the 160-acre state trust land parcel on which Florence Copper can operate for nine years, including the Phase 1 production test facility and the first years of commercial operations of Florence Copper. Once final permits are received, Florence Copper plans to continue to move forward with the Phase 1 production test facility in the near term. About Florence Copper Inc. Florence Copper Inc. is a wholly owned subsidiary of Curis Resources Ltd., a mineral development company associated with Hunter Dickinson Inc. (HDI), a diversified global mining company with a 25-year history of mineral development success. Curis is focused on the acquisition, development and operation of high-quality, next-generation copper properties in progressive jurisdictions around the world. It is currently focused on advancing its 100%-owned Florence Copper project in Arizona, USA to production. Ted Lake firstname.lastname@example.org TECHNOLOGY COULD CHANGE THE FACE OF MINING JOBS AT RESOLUTION COPPER
December 11, 2013 WASHINGTON – The small town of Superior has pinned its livelihood to copper, silver and gold mines for more than a century, but never has it had a prospect like this. The proposed Resolution Copper mine near this struggling town could be the most productive copper mine in North America, promising $61.4 billion in economic activity over its nearly 60-year life and 1,400 mining jobs at the peak of production. But those jobs are not likely to be the jobs that built Superior and other towns in Arizona’s historic Copper Corridor, where culture and economies are closely tied to the copper-mining industry. The generations of traditional mining experience in Superior may not be of much use as Resolution, like mines around the world, turns to robotics. “We’ve reached a new world when it comes to mining,” said Thomas Power, an economics professor at the University of Montana who wrote a report for opponents of the mine. Arizona is part of that new world, with the copper industry becoming markedly less labor-intensive in recent decades. From 1974 to 2003, the number of workers needed to produce 1,000 tons of copper fell 80 percent, according to Power’s report, commissioned by the San Carlos Apache, who oppose the mine on religious grounds. Copper-mining employment dropped dramatically in Arizona, too, from 28,000 workers in 1974 to 12,000 in 1997, despite a 75 percent increase in copper production during the same period, when output went from 805,000 tons to 1.4 million tons, Power’s report said. And at 7,000 feet underground, the Resolution mine will “push the envelope of technology,” said Mary Poulton, head of the University of Arizona’s Department of Mining and Geological Engineering. Poulton said the Resolution project will probably require a higher level of education from its workers than earlier mines did. Where miners used to come straight out of high school, they will now probably need an associate’s degree, she said. Most of the jobs at the mine will be “skilled technical jobs” like diesel mechanics, electricians and instrument technicians, said Vicky Peacey, senior manager of environmental and external affairs for Resolution Copper. Those positions require specific skills, which is why the company is investing in math and science programs for schools in Superior, she said. Resolution insists that 1,400 jobs will be created at the mine. But given the new face of mining jobs, some local officials worry that even a historically large mine like Resolution may not save Superior from the grim economic fate other mining towns have met. Gilbert Aguilar, a Superior town council member and former copper miner, said he is not worried about the number of jobs at the mine – just who gets the jobs and where they live. He expects very few of the jobs to go to Superior residents, whose mining experience may not translate to the technologically sophisticated Resolution mine. “You didn’t have to be smartest person in the world to get a job,” in the mines before, when mining didn’t take much education or even a proficiency in English, Aguilar said. “You needed to have a strong back.” Opponents of the mine have seized on the question of whether it will benefit Superior’s blue-collar workforce, as they try to block a federal land-swap that would give Resolution ownership of land that is currently part of Tonto National Forest. Congressional bills allowing the land-swap have stalled several times in the last decade, as conservationists have pushed to protect the area and the San Carlos Apache argued the land is sacred. A House committee passed the bill in May, but the measure has since stalled in the full House. Aguilar said he doesn’t oppose the mine, but wants to make sure it benefits the town. The town council, which had previously supported the mine, voted in February to pull out of an agreement with Resolution. And in August, the council voted to withdraw its support for the land-swap bill which “does not include any benefit to our town” as currently written, saying it wanted answers to questions and some written assurances. Aguilar said he expects Resolution jobs to be filled by outsiders, who he thinks are unlikely to move to Superior because of its lack of amenities. Miners will probably commute from the Phoenix suburbs about 30 minutes away, said Aguilar, adding that it seemed only a handful of employees lived in town during Resolution’s pre-mining work. Despite his doubts about jobs, Aguilar said he would still support the mine if the town can annex some of the land so that Resolution pays property taxes. The company already pays the town $100,000 a year, but that figure would likely be in the millions if the site of the mine were within the town limits, Aguilar said. If miners in Superior are left behind as the industry moves forward, Aguilar said he wants them to benefit in some way. “Maybe we can fix the roads, fix the sidewalks,” he said. “We have to do what’s right for the town.” The challenge faced by Superior is not new to mining towns. Manny Armenta, a spokesman for the United Steelworkers, said mining communities often struggle to gain new residents when a mine opens, because the towns lack amenities that would make workers want to live there. He agreed that many Resolution employees will likely commute from the Phoenix suburbs. “Small mining towns don’t have the big stores, the grocery stores, the Safeway’s and Fry’s,” Armenta said. Similarly, when coal mining underwent a wave of mechanization in the 1960s and ’70s, communities in Appalachia struggled as jobs in the mines shrank, said Phil Smith, a spokesman for the United Mine Workers of America. Relying on mines for jobs can be dangerous to a town when an industry quickly becomes more efficient, he said. “There are whole communities throughout southern Pennsylvania and West Virginia that are just shells of what they used to be,” he said. In Australia, mining communities are losing jobs as mines move toward automation and the workers move away from small towns into more urban areas, according to a February study by the University of Queensland. The study cited Rio Tinto and BHP Billiton – Resolution’s parent companies – as pushing heavily toward automating mines. Both companies have driverless trucks and plans for remote-controlled blast-hole drills, rock breakers and shovels. Both companies also have remote operations centers in Perth, where workers control operations in mines up to hundreds of miles away. Those centers inspired Rep. Raul Grijalva, D-Tucson, to unsuccessfully try to amend the House land-swap bill to require that Resolution place any remote operations center in Superior or an adjacent Copper Corridor town. Resolution has said it has no plans for a remote operations center, and its official mining plan of operations does not include mention of one. But the Queensland report said that while technological developments have cut jobs in Australia, they have also kept workers out of harm’s way, as miners are not exposed to risks like landslides and extreme fatigue. And the less physical nature of the work may open up opportunities at mines for women and older workers, it said. At the Resolution mine, workers will likely use tele-operated equipment, running underground machinery from a safe distance, Poulton said. For miners in Superior, that is a mixed blessing, Aguilar said. Mining jobs used to be more dangerous, but they paid well and were available to anyone who was willing to work hard, he said. “Was it dangerous down there?” he asked. “Yeah, but that’s the life we chose.” Jack Fitzpatrick Cronkite News CAPSTONE MINING: MORE ABOUT PINTO MINE FEASIBILITY STUDY
December 11, 2013 Vancouver base Capstone Mining Corporation announced today (Wednesday, December 11 ), that it has filed on SEDAR an amended National Instrument 43-101 technical report entitled “Pinto Valley Property Mineral Resource Estimate,” amended December 11, 2013, supporting the mineral resource estimate of the Pinto Valley open pit copper mining operation, first announced April 28, 2013, with an initial technical report filed June 12, 2013 ( SEDAR is a Canadian mandatory document filing and retrieval system for all Canadian public companies). Capstone in its latest release went on to say: The local mine’s mineral resource estimate has not changed from what was first announced on April 28, 2013. Now, that Capstone has completed the acquisition of the Pinto Valley property, additional information and technical details have become available allowing for additional disclosure. Work on a Preliminary Feasibility Study is underway with expected completion in the first quarter of 2014. The new owner of Pinto Valley said it now plans to consider the potential to extend operations within the currently permitted boundaries ( The Pinto Valley site consists of some 5,000 acres of privately owned land west of the Town of Miami ). In the April 28 statement Capstone Mining reported the following information to its stockholders about the Pinto Valley Copper mine it was in the process of purchasing at that time ( Escrow closed on the mine purchased on October 11 of this year ): The Pinto Valley property includes a significant amount of mineralization not included in BHP Billiton’s publicly-reported Mineral Reserve estimate. Capstone has completed the following NI 43-101 compliant Mineral Resource estimate for the global identified resource, with a technical report to be filed within 45 days. Mineral Resource Estimate, February 28, 2013, at a 0.25% COG*
Then, on June 12 of this year Capstone Mining issued another statement about Pinto Valley; Capstone has today filed on SEDAR a National Instrument 43-101 technical report entitled “Pinto Valley Property Mineral Resource Estimate,” supporting the mineral resource estimate of the Pinto Valley copper mining operation announced April 28, 2013. The technical report was prepared in accordance with NI 43-101 Standards of Disclosure for Mineral Projects and Form 43-101F1 by Garth Kirkham, P.Geo., of Kirkham Geosystems Ltd., an independent Qualified Person as defined by NI 43-101. Ted Lake email@example.com RIO TINTO ANNOUNCES CAPITAL GAINS SPENDING TO BE SLASHED BY $8 BILLION
December 8, 2013 Rio Tinto this week announced plans to cut capital spending to $8 billion from last year’s level to cut debt. The huge spending cuts are sharper than some investors had expected and deeper than those made by Rio Tinto’s major rivals. They show the giant mining firm is going all out to boost flagging shareholder returns and protect its credit rating amid a slower growth outlook for China, its biggest customer. Just last week Rio Tinto said it would delay the expansion of its iron ore operations in Australia to 2017 but save $3 billion in the process. The company is also in the midst of selling a clutch of coal, copper and other non-core assets. Rio Tinto, said it will cut capital spending to $11 billion in 2014 from just under $14 billion this year, and sees capital spending at $8 billion in 2015, which would be less than half what it was in 2012. Rio Tinto executives told an investor seminar in Sydney the firm has stripped out $2.6 billion in costs so far this year, including nearly halving exploration spending to around $850 million Reply Reply to all Forward by Reuters News RIO TINTO ANNOUNCES CAPITAL GAINS SPENDING TO BE SLASHED BY $8 BILLION
December 6, 2013 Rio Tinto this week announced plans to cut capital spending to $8 billion from last year’s level to cut debt. The huge spending cuts are sharper than some investors had expected and deeper than those made by Rio Tinto’s major rivals. They show the giant mining firm is going all out to boost flagging shareholder returns and protect its credit rating amid a slower growth outlook for China, its biggest customer. . Just last week Rio Tinto said it would delay the expansion of its iron ore operations in Australia to 2017 but save $3 billion in the process. The company is also in the midst of selling a clutch of coal, copper and other non-core assets. . Rio Tinto, said it will cut capital spending to $11 billion in 2014 from just under $14 billion this year, and sees capital spending at $8 billion in 2015, which would be less than half what it was in 2012. Rio Tinto executives told an investor seminar in Sydney the firm has stripped out $2.6 billion in costs so far this year, including nearly halving exploration spending to around $850 million. Ted Lake firstname.lastname@example.org ASARCO COPPER: AVERAGE ANNUAL WAGE $62,000
December 6, 2013 Manuel Ramos, President and Chief Operations Officer for ASARCO LLC, during the dedication of a $60 million expansion of the Mission Mine south of Tucson said the average take home pay of a Mission Mine employee was $62,000 yearly in addition to generous benefits. Ramos said the mine project just completed added 9,000 tons more per day of additional crushing and milling capacity and created 30 new jobs increasing the total full time work force to 660 employees. ASARCO noted the multi million dollar project increased the South Mill production of the mine by nearly 50% over the present capacity of 18,000 tons a day. It includes installation of a 120 feet diameter steel high rate thickener, two new 3,000 horse power ball mills, the replacement of existing flotation cells, the installation of a new 4,800 cubic foot flotation tank cell and the installation of one additional column flotation cell in the circuit. ASARCO has a total of 2,600 employees at its copper mines here in Arizona including 1,400 in the Hayden Smelter, Concentrator and Ray Complex operations located South of here. Ted Lake email@example.com PINTO VALLEY MINE UPDATE
December 4, 2013 Vancouver based Capstone Mining Company has given the following update of the Pinto Valley Copper Mine west of Miami which it purchased on October 11, 2013 from BHP Billiton: “The ramp up at Pinto Valley is progressing well,” said Darren Pylot, Capstone President and CEO. “We have been very pleased since taking over the operation on October 11. Reliability and availability are continuing to improve, giving us every confidence that we will achieve steady-state throughput, grade and recoveries by year-end 2013.” “Our focus in the fourth quarter continues to be on achieving steady-state operations, identifying opportunities for cost reductions and advancing the Preliminary Feasibility Study,” continued Mr. Pylot. Capstone guided Pinto Valley projected production of 22 to 27 million pounds of contained copper for Capstone’s 82 days of ownership in the fourth quarter of 2013. With the ramp up proceeding well, fourth quarter production is expected to be at, or above, the top end of fourth quarter guidance. There is no associated guidance with respect to cost, given the lack of recent steady-state historical cost information. A full report of fourth quarter production and 2014 production guidance will be provided following year-end. Ted Lake firstname.lastname@example.org COPPER FOX BREAKS SILENCE ON MIAMI PLANS
December 4, 2013 The Canadian Company which owns most of the mineral rights in, around and under the town of Miami , around 1,100 acres has now outlined what it is planning to do with the copper ore deposit it owns under the Town of Miami. The Company is Copper Fox Metals, based in Vancouver. Elmer Stewart is its President and Chief Executive Officer. Stewart this week said “The Van Dyke oxide copper deposit (under the town of Miami, Arizona ) is a significant under explored copper asset of the Company. The historical estimation, in-situ leaching test work and production data from an in-site leach mining operation completed between the early 1970′s and 1989 yielded positive results. Our immediate objective at Van Dyke is to complete the geological, engineering, geotechnical and environmental work necessary to prepare a Preliminary Economic Assessment there by establishing a valuation for this project.” Stewart went out to outline what steps Copper Fox Metals is now taking on the Van Dyke copper project at Miami which were stated as: Moose Mountain Technical Services has been retained to review and model all of the historical exploration and test leaching data with the objective of making recommendation for further work including diamond drilling in Miami to confirm the historical estimate of 112 million tons grading 0.53% copper, Knight Piésold has been retained to review all historical engineering, geotechnical and hydrogeological data generated by Occidental Mineral Corporation in the 1970′s and Kocide Chemical’s test in-situ production data generated between 1988 -1989, and Greenwood Environmental working with Knight Piésold has been retained to provide consulting services on the environmental and permitting aspects of a potential in-situ leach mining project on the Van Dyke copper project. Ted Lake email@example.com RESOLUTION MINE PLAN OF OPERATIONS NOW AVAILABLE ONLINE
December 4, 2013 Resolution Copper Mining has posted its 1,000+ page Mine Plan of Operations on its website, www.resolutioncopper.com. “Posting the MPO to the website demonstrates our commitment to openly and transparently working with our neighboring communities and stakeholders,” said Andrew Taplin, project director. “Often, MPOs are not available for public review until the governing agency – in our case, the U.S. Forest Service – concludes its completeness review. This review is expected to take many months.” The plan was filed with the Forest Service on Nov. 15. It is the result of eight years of intense study and preliminary exploration by a strong team of experts from within and outside Resolution Copper. It is a comprehensive, detailed examination of how the company will build and operate what is expected to be North America’s largest copper mine. The Resolution Copper Project, taking shape in Superior, Ariz., is an engineering and economic undertaking that will supply the nation with billions of pounds of copper and secure Arizona’s future through thousands of jobs and billions of dollars in economic benefits for years to come. Ted Lake firstname.lastname@example.org ROSEMONT MINE ENVIRONMENTAL IMPACT STATEMENT COMPLETED
November 27, 2013 Vancouver based Augusta Resource Corporation has announced the U.S. Forest Service has completed the Final Environmental Impact Statement for the company’s proposed open pit Rosemont Copper Mine 30 miles South of Tucson. According to a U.S. Forest Service statement the complete document will be posted on USFS Rosemont Project website beginning November 29, 2013. According to Gil Clausen, Augusta’s President and Chief Executive Officer, the publication of the Environmental Impact Statement is the culmination of over six years of comprehensive environmental and technical studies and analyses of the southern Arizona Copper Mine project. Development of the mine is expected to cost $1.2 billion. “This is an exciting and significant achievement for the Company. We are pleased that the U.S. Forest Service has completed the document and sincerely thank the team and all parties involved for their diligence and efforts. With the EIS process concluded, we can move forward and finalize the last remaining steps of permitting,” Clausen remarked . The United Sates Forest Service expects the official Notice of Availability for the Final Environmental Impact Statement to be published in the Federal Register along with the draft of the Record of Decision ( ROD ) to be available on December 13, 2013 . Upon public and legal notification on December 15, 2013 , the 90-120 day comment and resolution period for the draft Record of Decision commences. Ted Lake email@example.com THE VIEW POINT OF THE UNITED STEELWORKERS UNION
November 25, 2013 Since June, the United Steelworkers (USW) and its partner unions have been locked in contract negotiations with Asarco, a subsidiary of the multinational mining corporation Grupo Mexico, with little progress on economic issues and no end in sight. The unions represent nearly 2,000 hourly employees at Asarco’s American mines, smelters, and refineries spread across four locations in Arizona and one in Texas. As their previous agreement was set to expire on July 1, workers have remained on the job while negotiations proceed with a contract extension subject to a 15-day notice to terminate. Asarco’s most recent proposal demands far-reaching cuts to the existing contract, including freezing the pension plan, cutting medical benefits and eliminating future retiree healthcare. Asarco also wants to reduce the copper price bonus, a negotiated benefit that allows workers to share in the company’s success. “Grupo Mexico is an international corporation, so their refusal to bargain fairly requires a global response,” said IndustriALL General Secretary Jyrki Raina. “IndustriALL stands behind the USW, and we ask any individual or organization with dealings with Grupo to call on the company to treat its American workers with the justice and dignity they deserve.” The company’s most recent economic proposals are the latest in a long string of demands for concessions on nearly every issue from random drug testing to harsh new attendance policies Courtesy of industriall SAN CARLOS APACHE CHAIRMAN TELLS SENATORS COPPER MINE THREATENS SACRED SITES
November. 20, 2013 WASHINGTON – San Carlos Apache Chairman Terry Rambler told a Senate committee Wednesday that a massive copper mine proposed for Southeast Arizona would desecrate land his tribe considers sacred. Rambler said Tonto National Forest land at the proposed Resolution Copper mine near Superior, Ariz., is used for ceremonial dances and to gather medicinal plants, comparing its significance for his people to that of Mount Sinai for Christians. “Once it gets desecrated, it really infringes on our Apache way of life, which is our freedom of religion,” Rambler said in testimony to the Senate Energy and Natural Resources Committee. He was testifying against a bill by Arizona Republican Sens. John McCain and Jeff Flake that would swap 2,400 acres of U.S. Forest Service land for 5,300 acres of environmentally valuable land owned by Resolution to clear the way for mining in the copper-rich region. Supporters say the mine could ultimately provide up to 25 percent of the country’s copper supply, while creating as many as 1,400 jobs and generating $61.4 billion in revenues over its roughly 60-year life. In a letter to the committee, Resolution Copper project director Andrew Taplin said the company would go through all environmental review procedures for the project and that the mine would help the area’s economy. “We believe that the mine that we are planning to build in Superior, Ariz., will have an enormous, positive economic impact on the region, the state of Arizona and the United States,” Taplin’s letter said. “We believe this economic impact will be accomplished with the highest levels of environmental protection.” But officials with the U.S. Forest Service and Bureau of Land Management both testified against the bill in its current form. The bill would let the land swap go through before requiring the company to complete the environmental review process required by the National Environmental Policy Act, said Leslie Weldon, deputy chief of the Forest Service. And the bill does not require consultation with tribes on environmental issues, Weldon said. Resolution Copper officials have said they will have to go through the entire environmental review process, regardless of when the land is exchanged, because the mine will still be surrounded by Tonto National Forest. The mining company, jointly owned by BHP Billiton of Australia and British firm Rio Tinto, filed its mining plan of operations Wednesday with the Forest Service, starting a review process the company expects will take “many months,” according to a news release. In a statement that Flake read in to the record, McCain said the bill has strong support in Arizona, where copper is one of the traditional “Five C’s” of the state’s economy. “Arizona is the largest copper-producing state in the nation, which is why support for this legislation remains strong in my home state,” McCain’s statement said. Rambler said the San Carlos Apache felt let down by Flake’s and McCain’s support for the bill, along with that of Rep. Paul Gosar, R-Prescott, and Rep. Ann Kirkpatrick, D-Flagstaff. While the tribe has been consulted, he said it did not seem that their opinion was valued. “Meaningful consultation means that we have the opportunity to change the outcome of any legislation,” Rambler said. “But in this case … we’re just like a check mark in the process.” The Senate committee hearing came a week after a similar bill, which passed a House committee, was abruptly pulled from a floor vote before the full House without explanation. While mine operations would be limited to Arizona, Rambler said he aimed to take a national approach to his opposition. He submitted a list of tribes from 25 states that opposed the land exchange, and he said the issue of respecting tribe’s sacred sites is a national issue. Rambler also said he had talked to lawmakers from other states about opposing the bill on the grounds that it violates the tribe’s freedom of religion. “Even on the Republican side, they’ve given us their ear because of the sacred sites issue,” Rambler said Jack Fitzpatrick Cronkite News RESOLUTION FILES MINING PLAN OF OPERATIONS WITH TONTO NATIONAL FOREST
November. 19, 2013 SUPERIOR, Ariz. – Resolution Copper Mining has filed its Mine Plan of Operations with the U.S. Forest Service, the company announced today. The plan provides detail and key information about the following: -All operations planned to be on private, state and federal lands, including the mine, a concentrator, tailings, infrastructure and a filter plant. -Water sources and quantity, pipeline locations, and how water will be used. -Baseline data collected in and around the proposed mine including water, air, biology and cultural resources. -Environmental protection measures that will safeguard air, land and water. -Permits required to construct and operate the mine. -Detail about the 3,700 jobs projected to be created by the mine, which also is expected to generate $20 billion in federal, state and local tax revenue and deliver an estimated $61.4 billion in economic value. The Forest Service will review the plan for completeness and could require modifications and additional information. Once the agency deems the plan to be complete, the comprehensive environmental review required by the National Environmental Policy Act (NEPA) will begin, including a number of opportunities for public review and comment. Review by the Forest Service is expected to take many months. The plan as filed will be available no later than Dec. 1 at Resolution Copper’s office at 402 W. Main Street in Superior. The company also will make the plan available on http://www.resolutioncopper.com/
by the end of November. “Filing the plan keeps our promise to do so by the end of 2013 and represents a major milestone for us. The plan is the result of thousands of hours of hard work by the Resolution Copper team of professionals and consultants,” said Andrew Taplin, project director of Resolution Copper Mining. “Throughout the summer and fall, Resolution Copper conducted a series of public meetings covering the major topics addressed in the plan. The company also has consulted with a community panel to help decide on a location for a tailings site.” By filing the mine plan of operation, Resolution hopes to put to rest speculation that the land exchange would in some way circumvent the U.S. regulatory review process and approval under NEPA. Resolution Copper is submitting its mine plan with the full intent that the U.S. Forest Service will complete its review under NEPA and all other applicable laws including the the Clean Air Act, the Clean Water Act, the Safe Drinking Water Act, the Endangered Species Act, and the National Historic Preservation Act.. “We are committed to creating a safe, environmentally sound, world-class project,with meaningful opportunities for public participation and involvement,” Taplin said. “We will be operating for decades, and we recognize the importance of having a strong, mutually beneficial relationship with the community.” Before the company can begin construction, it will need numerous permits and approvals from various federal, state and county agencies. Ted Lake firstname.lastname@example.org SENATE HEARING TODAY ON RESOLUTION LAND SWAP
November 18, 2013 Although the proposed bill ( H R 687 ) for the Resolution Copper Mine land exchanged sponsored by Arizona Congressional Representatives Democrat Ann Kirkpatrick and Republican Dr. Paul Gosar was postponed indefinitely last Thursday from a floor vote of the entire house, similar legislation ( S. 339 ) is now moving forward before the U. S. Senate. In fact the Senate’s Subcommittee on Public Lands, Forests, and Mining is holding a public hearing this afternoon ( Wednesday, November, 20 ). and this identical legislation which cleared the House Natural Resources Committee earlier was introduced in the Senate last February 14th under the sponsorship of the two U.S. Senators from Arizona, John McCain and Jeff Flake, both Republicans. The hearing is scheduled for 3:30 this afternoon (12:30pm Arizona Time ) in the Dirksen Senate Office building. The proceedings can be seen live by clicking on the Subcommittee’s web site. This subcommittee in the past has rejected a large majority of various kind of bills which have been sent to it with only 11% making it past committee in 2011 and 2012. However, this year there have been changes in the committee it self which has resulted in more legislation pertaining to public lands getting approved compared to the two prior years. It also interesting to note that previous land exchange bills for the Resolution project have been introduced in Congress since 2005 and today marks the first time that such proposed legislation has been able to get a hearing before the U.S. Senate Over in the U.S. House, it was last Thursday the the Gosar/Kirkpatrick land swap measure needed to pave the way for the new $6 billion deep underground copper mine East of Superior was scheduled to come on the Floor of the U.S House for a full vote of the House of Representatives at 12: 30pm Arizona Time. But, that didn’t happen. According press reports from Washington the bill was suddenly pulled from the House calendar for a full vote because of intensified lobbying that was going on against the copper mine land swap by Native Americans who happened to be at the nation’s capital attending the Tribal Nations Conference In a statement issued after the House vote was postponed once again ( first time happened when budget battle issues took full focus of House activities just prior to the U.S. Government shut down ) U.S. Congressman Paul Gosar said: “Today’s setback will not discourage me from my continued fight for this important Arizona jobs bill. I am disappointed that a mine of national significance that would have employed so many Native Americans was opposed by the leadership of the San Carlos Apache Tribe…a tribe plagued with excessively high unemployed and poverty. It is inexplicable descisions like this that directly result in continued poverty of the tribe and deterioration of the economic prospects of the town of Superior and the entire State of Arizona.” Dr. Gosar went on to claim the San Carlos Apache Tribal leadership had mislead other tribal leaders across the nation about this project. The polls, he said show the majority of the San Carlos Apache tribal members support the mine and the jobs. Their tribal leadership is out of touch with its own people. I am confident that the truth will prevail and the will of the members of the tribe and surrounding communities will be done. Representative Kirkpatrick and I will continue to work with our Senators to ensure the enactment of H.R. 687, the Southeast Arizona Land Exchange and Conservation Act. Congresswoman Ann Kirkpatrick also issued a statement about this major jobs bill she introduced with Representative Paul Gosar to bring thousands of jobs to Arizona’s Copper Corridor and billions of dollars into Arizona’s economy. Kirkpatrick said a vote on final passage was expected today ( last Thursday ) but did not occur. “Today’s setback on HR 687 was disappointing. The families in Arizona’s Copper Corridor need these jobs, and Arizona’s economy needs this boost. I remain committed to moving this forward, working across the aisle with Congressman Gosar and my colleagues, and bringing local stakeholders together. When it comes to creating jobs and strengthening the economy, we need to find common ground.” Ted Lake email@example.com GAME AND FISH TO GET $10 MILLION FROM ROSEMONT MINE
November 6, 2013 PHOENIX – Rosemont Copper Co. has agreed in principle to give the Arizona Game and Fish Department $10 million
for programs protecting wildlife habitat around a proposed mine near Tucson. The agreement, which depends on the mine receiving federal approval, would require Rosemont to purchase more than 3,500 acres surrounding the mine to protect wildlife and maintain recreational access. It also would have to purchase 740 acre-feet of water rights that can be used to replenish and replace water affected by the mine. “(Game and Fish) agreed to work as a habitat conservation partner with our funding,” said Jamie Sturgess, Rosemont Copper’s vice president of corporate development and government affairs. “The obligation of performance is still Rosemont’s, but they allowed us to help use their expertise and some of their professional skills to achieve our goals.” Rosemont mine is a proposed open-pit copper mine in the Santa Rita Mountains, about 30 miles southeast of Tucson. Slated to be the third-largest copper mine in the nation, it would employ about 450 people. The mine is in the advanced stages of design and is near the end of a review process that includes a final environmental impact statement and a record of decision from the U.S. Forest Service, Sturgess said. Rosemont anticipates only a few months left in the review process, he added. The agreement in principle simply outlines habitat and wildlife conservation services that Game and Fish wants Rosemont to address should the mine be approved, said Jim Paxon, a spokesman for agency. “We were concerned about habitat, about water resources and about the quality of recreation access for wildlife enthusiasts,” he said. Paxon called Rosemont’s commitment to the surrounding area encouraging. Because the Forest Service is concerned with the habitats of federal endangered species, Game and Fish is focusing its attention on a variety of Arizona “trust species” that aren’t endangered or threatened, Paxon said. Those mentioned in the agreement include western yellow-billed cuckoos, Gould’s turkeys and the Mexican long-tongued bat. The agreement forces Rosemont to create a conservation strategy that “would consider every single one of those species,” Paxon said. Randy Serraglio, a conservation advocate at the Tucson-based Center for Biological Diversity, said no amount of mitigation from Rosemont is going to change the fact that “the mine would render the Santa Rita mountains virtually worthless in terms of habitat. By Chris Cole Cronkite News LATEST ON ASARCO LABOR TALKS
November 5, 2013 Even though the wage package between ASARCO and its six unions expired last July lst, union workers at the ASARCO copper mining operations have continued to remain on the job under the terms of the old agreement as negotiations continue in an effort to reach an agreement on a new three year wage package. According to a statement just released by the United Steelworkers Union, negotiations have not been going very well during the past few days. Here is what the statement from the Steelworkers said: “ASARCO SEEKS DRASTIC CUTS”
Even though we were making progress at the bargaining table with non-economic issues, this week the Company gave us proposals on some economic issues. ASARCO is proposing radical and far-reaching cuts to our contract, including freezing the pension plan, increasing the premiums, co-pays, and deductibles on medical benefits, and eliminating future retiree healthcare. ASARCO also wants to make drastic cuts to the copper price bonus by reducing the amount of the bonus and tying the bonus to attendance and production. This proposal is disrespectful and a slap in our faces. We work hard for the Company every day—we are the reason why ASARCO is a profitable business. The copper bonus is a way for us to share in the Company’s success, but the Company wants our shares to be smaller. Our medical benefits are a way to care for our families in the present, but the Company wants us to shoulder more of the burden on that. And, our pensions are a way to secure our own futures after a lifetime of hard work, but the Company wants to take that away from us too. Bargaining has made it clear that we can’t count on the Company to give us anything. We fought hard for this contract and we’ll fight hard to keep it. Unity now is more important than ever. Mark your calendars now to attend the next round of informational meetings: Mission and Silver Bell November 13, IBEW Hall, 8 a.m., 12 p.m., 5 p.m., 8 p.m. Ray and Hayden November 14, USW Local 915 Hall, 8 a.m., 1 p.m., 4:30 p.m. Amarillo Ted Lake firstname.lastname@example.org FLORENCE COPPER TEST PROJECT EXPLAINED
November 4, 2013 The Production Test Facility to be developed at the Florence Copper project in the town of Florence has been described as a small scale demonstration of the Insitu Recovery Facility Plant which will be eventually needed for the $500 million dollar copper mine being proposed by Curis Resources of Canada, owner of the Project A small well field and a state of the art solution extraction/electrowinning (SX/EW) processing facility of produce 99.999% pure copper cathode sheets will be involved in this testing. The Production Test Facility (PTF) well field will use only 2 acres of the 160 acres of Arizona State Land currently under lease to Florence Copper. Florence Copper will drill and use 24 wells to prove hydraulic control of the copper recovery solution and to meet the stringent regulatory requirements of the EPA and ADEQ. A solution of 95.5% water and 0.5% sulfuric acid is injected into the copper deposit to dissolve the copper. The copper-rich solution is then extracted using a series of withdrawal wells that control where the solution moves. According to officials of the project, the 24 triple cased wells include four injection wells to pump the solution into the copper bearing bedrock, nine recovery wells to extract the solution, four geochemical sampling wells to analyze the make up of sediments and rocks, and seven observation wells to monitor groundwater. It was last July 3rd, the Arizona Department of Environmental Quality ( ADEQ ) issued an amended Aquifer Protection Permit to Florence Copper after a very extensive public comment period, The permit, according to the company, authorizes and outlines the requirements for the construction, operation and closure of a small scale Test Facility in the-insitu copper recovery project.. While only a small scale test, the PTF will employ approximately 35 new workers, generate millions of dollars in taxes, and produce approximately 2 million pounds of copper cathode over 12 to 18 months of operation. To build this test facility , a capital investment of millions of dollars which willl flow into the community and businesses. Much of this investment will go to local contractors and suppliers. It was further reported that hiring will begin in Florence as soon as all of the necessary permits and approvals are obtained. Ted Lake email@example.com CAPSTONE MINING QUARTERLY REPORT
October 30, 2013 The new owner of the Pinto Valley Copper Mine west of Miami, Capstone Mining Company, released it’s latest financial report to stockholders today. Capstone said it posted a loss for the 3rd Quarter at $4.6 million and net operating cash flow for the quarter at $12.7 million and ending the quarter with $457 million cash on hand. At this time one year ago, the Vancouver based mining company said it had a posted net profit of $11.4 million. For the first nine months of this year, Capstone said its earnings were $11.5 million, all figures are in U.S. dollars. The company is expected to release results of the Pinto Valley operations which it purchased on October 11th, in its fourth quarter results. The company has two other operating copper mines. One is in Southern Mexico and the other in the Yukon area of Canada. Ted Lake firstname.lastname@example.org CAPSTONE TALKS MORE ABOUT PINTO VALLEY
October 30, 2013 In its latest financial report released today where stockholders were told the company had a profit for $11.5 million dollars for the first 9 months of this year, Vancouver based Capstone Mining Company had a lot more to say about the Pinto Valley Copper Mine west of the Town of Miami it just purchased from BHP Billiton and that was: On October 11, 2013, Capstone and BHP Copper Inc.closed the previously announced transaction whereby Capstone acquired BHP Billiton’s Pinto Valley copper mining operation and the associated San Manuel Arizona Railroad Company in Arizona, for $650 million. The purchase price was paid in cash, from cash on hand and debt facilities. The Company retains a conservative capital structure with approximately $82 million of cash and cash equivalents, as of October 25, 2013 The restart of the Pinto Valley mine, which commenced in December 2012, is continuing with a targeted run rate of 50,800 tons per day by the end of 2013, with annualized production of 130 million to 150 million pounds of copper per year. Capstone will commence reporting full operating and production information for Pinto Valley with its 2013 annual report. . An experienced work force remains in place, with 98% of Pinto Valley’s 650 employees accepting Capstone’s offer of employment, including all key positions. Steve Winkelmann, formerly Capstone’s Vice President of North American Operations, has been appointed Pinto Valley’s Mine General Manager. Mr. Winkelmann has 40 years of mining experience, including at large mining operations, primarily in the United States and most recently in Arizona. . Pinto Valley concentrate production continued to ramp up following the successful restart of mining operations during Q4 2012, with production of 59.5 million pounds of payable copper production in concentrate and 7.3 million pounds of payable copper cathode production during the first nine months of 2013. The Capstone Pinto Valley team will initially focus on continuing to ramp up production levels and the integration of the operations to achieve the company’s targets. At the same time, leadership will identify opportunities for cost reduction, reliability enhancement and throughput maximization . Capstone believes that considerable potential exists to upgrade the existing 968 million tonnes of measured and indicated mineral resources (grading 0.35 per cent copper at a 0.25-per-cent cut-off grade) into reserves, potentially extending the operation beyond the current reserve life as reported by BHP Billiton. A preliminary feasibility study is under way, which will target the measured and indicated mineral resources for potential conversion to reserves, with expected completion in early 2014. The PFS will consider the potential to extend operations within the currently permitted boundaries. In addition, Capstone plans to commission engineering and economic studies to consider all remaining current mineral resources and their potential for development. Ted Lake email@example.com ADKERSON TALKS ABOUT WORLD COPPER MARKET
October 28, 2013
Richard Adkerson Richard Adkerson, President and Chief Executive Officer of Freeport McMoRan Copper and Gold gave some of his views last week on the current copper markets. Adkerson said ” China remains of course, the important global user of copper and the source of copper growth globally. The demand in China during this year has been stronger than many people expected. The Chinese are confident about their economy going forward.” He went on to say, We are also seeing improvement in the U.S. demand in sections that are important to our copper usage. Construction, both residential and commercial, automobile activity is very positive. Despite all of all of the potential uncertainties associated with our economy, Adkerson says ” Business in the United States in the current conditions is progressing well. And, we are seeing some initial signs of improvement in Europe through demand activities.” Ted Lake firstname.lastname@example.org APPEALS COURT SLASHES AWARD AGAINST ASARCO IN SEXUAL-HARASSMENT CASE
October 28, 2013 WASHINGTON – A federal appeals court Thursday slashed the damages that mining company ASARCO had been ordered to pay a former employee who successfully sued the company for sexual harassment at an Arizona mine. A divided three-judge panel of the 9th U.S. Circuit Court of Appeals said the $300,000 in punitive damages awarded to Angela Aguilar was excessive in comparison to the $1 in nominal damages a jury awarded her. While the court said ASARCO’s conduct in Aguilar’s case was “highly reprehensible” and merited “the imposition of a very large punitive award,” it said $300,000 was out of line. It sent the case back to district court, where it said Aguilar could accept a lower award of $125,000 or the case could go back to trial. “It would have been nice to keep the whole thing,” Aguilar’s attorney, Sandy Forbes, said, “but we are pleased.” Calls to ASARCOand its attorneys were not immediately returned Thursday. Aguilar began working in 2005 at ASARCO’s Mission Mine complex in Sahuarita, where she said her supervisor, Wayne Johnson, continuously asked her out and would press up against her when she asked for help, according to the court. Because there was no women’s restroom at the filter plant where she worked, Aguilar had to use a portable toilet that was soon “vandalized with pornographic graffiti directed at her.” Complaints to company officials “initially fell on deaf ears,” the court said, and Aguilar asked for and got a transfer to another unit. In June 2006, she transferred to the main mill building, where the court said she reported to Julio Esquivel. But court documents said Esquivel would yell at Aguilar and threaten to have her fired, telling her before she even started working with him, “Your ass is mine.” After taking leave in September 2006, Aguilar returned to work briefly in November before quitting after four days. Arizona sued ASARCO in 2008 under the state’s civil rights act, and Aguilar later filed her own harassment suit against the company. After an eight-day trial in U.S. District Court, a jury found ASARCO liable for the sexual harassment claims and awarded Aguilar $868,750 in punitive damages, $1 in nominal damages and no compensatory damages. The district court later lowered the punitive damages to $300,000, the maximum allowable under Title VII, and said that amount was not constitutionally excessive. But the appeals court Thursday cited Supreme Court rulings that punitive damages “must bear a reasonable relationship to compensatory damages,” and that was not the case here. The appeals court said it was not bound by the Supreme Court’s suggestion that there not be more than a single-digit ratio between compensatory and punitive damages, but it said “a 300,000-to-1 ratio raises our ‘judicial eyebrow(s).’” It settled on $125,000, citing the next-highest ratio it could find in another circuit. That amount brought a “reasonable relationship” between the award amounts, but was still “proportional to the reprehensibility of ASARCO’s conduct.” In a partial dissent, Judge Andrew D. Hurwitz said he agreed with most of the majority opinion but that he would have left the award at $300,000. Forbes said she had not discussed next steps in the case with Aguilar yet. Calls to the Attorney General’s Office for comment were not immediately returned. A three-judge panel of the 9th U.S. Circuit Court of Appeals said ASARCO’s actions in the case merited “the imposition of a very large punitive award,” but that the award of $300,000 was too high. It lowered the award to $125,000. Brandon Brown Cronkite News FLORENCE FILES SUIT TO STOP COPPER MINE
October 22, 2013 The Town of Florence has filed a lawsuit in the Pinal County Superior Court which seeks to condemn land owned by Curis Resources, Inc, a Vancouver, Canada mining firm. Curis is planning to develop a $500 million copper mine on the land trageted in the lawsuit for its Florence Copper Project according to the Business Journal. The publication said the Florence Town government is attempting to seize the copper mine site by an eminent domain court order so Florence could build a sewage water treatment plant on the 1,187 site. Ted Lake email@example.com FREEPORT QUARTERLY PROFIT $821 MILLION
October 22, 2013 Officals of Freeport McMoRan Copper and Gold Inc released the company’s third quarter financial report on Tuesday ( today ). Stockholders were told the company had a Net income at $821 million for third-quarter 2013, compared with net income of $824 million for the third-quarter of last year. Freeport said net income for the first the first nine months of 2013 totaled $2.0 billion compared with $2.3 billion for the first nine months of 2012. Consolidated sales for third-quarter 2013 totaled 1.04 billion pounds of copper, 305 thousand ounces of gold, 23 million pounds of molybdenum and 16.5 million barrels of oil equivalents. Average realized prices for third-quarter 2013 were $3.28 per pound for copper (compared with $3.64 per pound in third-quarter 2012), $1,329 per ounce for gold (compared with $1,728 per ounce in third-quarter 2012) and $104.33 per barrel for oil (excluding impacts of unrealized losses on derivative contracts). Operating cash flows totaled $1.9 billion (net of $294 million in working capital uses and changes in other tax payments) for third-quarter 2013 and $3.7 billion (net of $489 million in working capital uses and changes in other tax payments) for the first nine months of 2013. Capital expenditures totaled $1.6 billion for third-quarter 2013 and $3.6 billion for the first nine months of 2013. Stockholders also were told Freeport McMoran was taking steps to achieve significant reductions and deferrals of capital expenditures, operating, exploration and other costs following its July 2013 announcement of $1.9 billion in targeted reductions for 2013 and 2014. The Phoenix, Arizona based company went on to say it was reviewing its portfolio of assets for opportunities to accelerate its deleveraging plans through potential asset sales, joint venture transactions or further adjustments to capital spending plans. firstname.lastname@example.org RESOLUTION COPPER APPOINTMENT
October 21, 2013 Resolution Copper Mining has appointed Dave Richins as Principle Advisor, Government Affairs. In this role, Richins will guide Resolution Copper’s relationships with federal, state and local government leaders, support efforts to move the land exchange legislation forward, and develop and lead the project’s public and community outreach and communications programs. “Dave brings to Resolution a perfect blend of public and private sector experience, along with a vast and deep understanding of how sustainable economic development and environmental protection can be achieved,” said Resolution Copper Project Director Andrew Taplin. “He will be invaluable in moving the project forward and is the right person to help us reach out to and partner with the community.” Taplin says Richins will focus on regional and community partnering and will continue the company’s dialogue with supporters and opponents. This includes a continued effort to brokering a relationship with Native American tribes, with the goal of identifying issues and finding solutions that create a win-win for all parties. In addition, he will work with neighbors, environmental advocates and government leaders to proactively address issues surrounding development of the mine. Ted Lake email@example.com UNION UPDATE ON ASARCO BONUS
October 21, 2013 The United Steelworkers Union in a news release says the Third Quarter Bonus will be $1,890 per employee. According to the Union, the average daily settlement price of copper on the London Metal Exchange during the third quarter of 2013 was$3.208 per pound. Under the labor agreement between ASARCO and its unions, the copper price bonus payment for the quarter figures out to be $1,890 per employee. Although the labor agreement between ASARCO and six unions expired last July lst, both the company and the unions agreedto honor the terms of the old contract as negotiations continue for a new three year wage package. According to the Steelworkers Union, during labor talks held last week in Tucson, the unions and management made significant movement on some of the remaining open issues. Both sides are expected to meet face to face again before the the end of this month. ASARCO has a total of 1,403 workers at its Hayden Smelter, Hayden Concentrator and Ray Mine south of us. Several hundred of these employees live in the Globe-Miami area. Ted Lake firstname.lastname@example.org VOTE ON RESOLUTION LAND EXCHANGE EXPECTED SOON
October 21, 2013 Since issues of a government shut down and raising the debt ceiling are over for the time being there is speculation now a vote of the full House of Representatives on the Resolution Copper Land Exchange Bill could suddenly come up and any time The Fox Televison Network in a nationally watched report last Friday said the Resolution Land Exchange Bill could come up very soon in Congress. In a live broadcast from Superior, Arizona, entitled the “Big Battle Over A Copper Mine in Arizona,” Fox Television described Superior as a community with businesses and many homes boarded up , prople needing jobs with an unemployment rate of 20%. FOX TV cameras showed the network’s national audience the many empty buildings in the downtown area of the town along with the underground operations of the Resolution project. In additon the network’s reporter and cameras traveled to the bottom of #10 shaft at a depth of 1.25 miles straight underground. There were interviews with several business owners and residences in the town of Superior who favor the proposed $6 billion dollar mine. Resolution Copper Project Manager Andrew Taplin also was interviewed along with two copper mining opponents, U.S. Congressman Raul Grijalva of Tucson and San Carlos Tribal Councilman Tao Eptison. Fox Television told its audience the huge 7,000 foot depth underground mine could mean more jobs and resurgence to Arizona’s once mighty copper mining industry. However, it is getting some big opposition from Native Americans. Ted Lake email@example.com CARLOTA OPEN PIT MINING TO CONTINUE ONE MORE YEAR
October 16, 2013 Opening Pit Mining at the Carlota Copper Mine west of Miami will continue for one more year according to a statement issued by the company. Processing will continue for another one or two years after that. When that activity ceases, a number of employees will continue to work or reclaiming the property so it can be put to good use in the future. A $10 million dollar reclamation bond for the Carlota Mine site was placed with the U.S. Forest Service earlier by Quadra Mining, previous owner of the copper operation. According to Dave Cook, General Manager of the local mining operations owned by KGHM International, two disassembled haulage trucks from the company owned RobinsonCopper Mine at Ely, Nevada have been shipped to the Carlota Mine site and are expected to be here this Monday, October 21st. The two trucks are scheduled to be reassembledand on the job at the Carlota at the end of the last shift on Friday, October 25. Cook points out in early December, Carlota will return the favor, disassembling and shipping two of its haul trucks to Robinson. Carlota is sending larger trucks to Robinson and taking smaller trucks in return. Cook said this is part of a well-designed plan for both mines. The larger trucks will improve the economies at the Robinson and the Carlota will be more efficient with smaller trucks at this point in our mine life. Ted Lake firstname.lastname@example.org WORK STOPS 1.25 MILES UNDERGROUND AT 116 DEGREES - 48 CONTRACT WORKERS LAID OFF
October 15, 2013 Resolution Copper announced today it has laid off 48 construction workers and has ceased development at its new #10 underground shaft until a ventilation and cooling situation has been resolved. The company said in order to upgrade ventilation and cooling of the new #10 underground shaft and to ensure the health and safety of employees and contractors, Resolution Copper is placing approximately 48 members of its contractor workforce on temporary leave while a construction and engineering solution is implemented and tested to increase cooling and ventilation to critical work areas within the shaft. A crew of some 34 construction workers will remain for shaft upkeep and maintenance. Resolution Copper said it anticipates that some of the laid off workers will be recalled before the end of the year. The remainder are expected to be recalled by mid 2014 when sinking of the #10 shaft is expected to resume several mines East of the town of Superior. Andrew Taplin, Project Director for Resolution said temperatures in the shaft are at about 116 degrees –too hot for comfort and safety – and humidity is at 100 percent. We are in the process of completing construction and engineering solutions to increase cooling and reduce temperatures that are acceptable and comfortable for our workforce. While this change is difficult for everyone, safety is our first priority and organizational value. The company must ensure that contractors are safe and conditions are right before they return to work. The health and safety of Resolution Copper’s work force is the absolute top priority. He went on to point out shaft sinking work is an essential aspect to this project. Citing it is the only way to gather critical information needed for future mine designs. Since 2008, Resolution Copper has been working with the contractor, Cementation Corporation, to sink the #10 shaft to a depth of 6,943 feet below ground level. The shaft bottom was at 6,630 feet. before operations ceased. “Resolution Copper is one of the most attractive, undeveloped copper deposits in the world. It is absolutely world class. It will bring benefits locally, regionally and to the state of Arizona, and we are committed to seeing it through,” Taplin remarked “We have invested more than $1 billion to date in the project. Most of that investment has been used to sink the exploratory shaft to full depth. Our contractor workforce has been working extremely hard to accomplish that goal, and nothing is more important than their health and safety. It is our primary focus, and we will not compromise or make exceptions in this area. When we have fully implemented and tested the construction and engineering changes to the cooling system, all our contractors will be called back to work, and the shaft-sinking work will resume.” Ted Lake email@example.com CAPSTONE TAKES OVER PINTO VALLEY
October 14, 2013 Shortly before 10 am last Friday both BHP Billiton and Capstone Mining Corporation officiallyannounced the $650 million sale of the Pinto Valley Mine west of Miami had closed and the Canadian company had taken over the second largest copper mining operations in Globe-Miami. It was on April 29 of this year when the agreement to sell Pinto Valley was first reached. Vancouver based Capstone noted in the Friday announcement an experienced workforce remains in place, with 98% of 650 employees at Pinto Valley accepting the offer of employment from Capstone, including all key positions. Steve Winkelmann, formerly Vice President of North American Operations of Capstone, has been appointed General Manager of the Pinto Valley Mine. Winkelmann has been on site shadowing his BHP Billiton counterpart since early September. Steve has 40 years of mining experience including large mining operations, primarily in the US and most recently in Arizona. Darren Pylot, President and CEO of Capstone said the closing of the Pinto Valley acquisition advances us as one of the leading intermediate copper producers, with a focus in the Americas. He went on to point out following the closing of the transaction, his company has retained considerable financial flexibility with a very conservative capital structure. The purchase price of US $650 million was funded from cash and Capstone's credit facilities. Next Steps
he Capstone Pinto Valley team will initially focus on continuing to ramp up production levels and the integration of the operations to achieve our targets. At the same time leadership will identify opportunities for cost reduction, reliability enhancement and throughput maximization. Capstone believes that considerable potential exists to upgrade the existing 968 million tonnes of Measured and Indicated Mineral Resources (grading 0.35% copper at a 0.25% cut-off grade) into reserves, potentially extending the operation beyond the current reserve life ( five years ) as reported by BHP Billiton. A Preliminary Feasibility Study is underway that will target the Measured/Indicated Mineral Resources for potential conversion to reserves, with expected completion in late 2013 or early 2014. This Study will consider the potential to extend operations within the currently permitted boundaries. In addition, Capstone plans to commission engineering and economic studies to consider all remaining current mineral resources and their potential for development Meanwhile, the Pinto Valley open pit mine is continuing with a targeted run-rate of 50,800 tons per day by the end of 2013 with annualized production of 130 million to 150 million pounds of copper per year. Capstone will commence reporting full operating and production information for Pinto Valley with its fourth quarter report. The copper mine is on a 5,000 acre site which the company owns outright as a result of a 1970 uncontested land exchange. Also last week Capstone released the production results for the three and nine months ended September 30, 2013 of its two operating mines, Cozamin ( Southern Mexico ) and Minto (Yukon of Canada ). Combined production totaled 18.9 and 56.9 million pounds of copper in concentrates in the third quarter and year-to-date period, respectively. “Both operations produced another steady quarter and are operating according to plan,” said Darren Pylot, President and CEO of Capstone. At the Minto mine he said we have accessed the open pit and underground high grade ore which will increase production levels for the remainder of this year with additional by-products of zinc, lead, silver and gold. Ted Lake firstname.lastname@example.org 650 MILLION DEAL PINTO VALLEY MINE SALE CLOSES FRIDAY
October, 8, 2013 The 685 employees of the Pinto Valley open pit copper mine west of Miami are expected to be working under a new corporate owner by the end of this week. Vancouver based Capstone Mining Corporation announced on Monday that all conditions to the completion of the previously announced acquisition of the Pinto Valley copper mining operation and the associated San Manuel Arizona Railroad Company have now been met and Capstone and BHP Billitonwill now proceed to close the transaction with a target date of this Friday October 11, 2013. It was late last April when Melbourne-based BHP Billiton announced that it had entered into an agreement to sell its Pinto Valley mine to the Canadian Company for $650 million cash. The local mine is located on 5,000 acres of land the company owns outright which as obtained through a land exchange completed in 1970. The Pinto Valley Mine is projected to produce approximately 10 million pounds of copper cathode annually with byproducts of molybdenum an silver at an estimated cost of $1.80 a pound, for the next five years of production according to Capstone. Darren Pylot, President and Chief Executive Officer of Capstone Mining said after the sale was first announced ” Pinto Valley represents an unique opportunity to acquire a mid-sized producing copper mine in a well established and low-risk mining jurisdiction with significant mineral resource. This acquisition gives Capstone our third producing mine with a long mine life and is consistent with our strategy of building an intermediate copper producer focused in the America.” “We are looking forward to the Pinto Valley employees joining Capstone as we jointly prepare to realize the full value of the Pinto Valley asset well into the future.” he remarked Ted Lake email@example.com $2.6 MILLION MORE FOR COPPER CREEK
October, 8, 2013 Vancouver based Redhawk Resources, Inc has announced it is proceeding with a private placement of 10,400 common shares of stock to raise $2.6 million. According to the Canadian Company most of these monies will be used for continued work on it’s Copper Creek exploration project on some 5,200 acres of land 18 miles southeast of Winkelman in nearby Pinal County. Ted Lake firstname.lastname@example.org CAPSTONE MINING: BUYER OF PINTO VALLEY
October, 8, 2013 Capstone Mining Corp. says it’s a Canadian base metals mining company, committed to the responsible development of our assets and the environments in which we operate. We are preferentially focused on copper, with two producing copper mines, the Cozamin copper-silver-zinc-lead mine located in Zacatecas State, Mexico and the Minto copper-gold-silver mine in Yukon, Canada. In addition, Capstone has two development projects, the large scale 70% owned Santo Domingo copper-iron-gold project in Region III, Chile, in partnership with Korea Resources Corporation, and the 100% owned Kutcho copper-zinc-gold-silver project in British Columbia, Canada, as well as exploration properties in Canada, Chile, Mexico and Australia. Using our cash flow and strong balance sheet as a springboard, Capstone aims to grow with continued mineral resource and reserve expansions, exploration, and through acquisitions in politically stable, mining-friendly regions. Our headquarters are in Vancouver, Canada and we are listed on the Toronto Stock Exchange (TSX). Capstone is included in the S&P/TSX Composite Index and the S&P/TSX Global Mining Index. Company History & Corporate Milestones
Jan/04 Capstone acquires Cozamin Project near Zacatecas, Mexico Oct/04 Development of Cozamin Project begins Jun/05 Sherwood Copper Corporation (“Sherwood”) acquires the Minto property in Yukon, Canada Feb/06 Development of Minto Project begins Jun/06 Capstone distributes Silverstone as a dividend in kind to shareholders Sep/06 Cozamin Mine begins commercial production Oct/07 Minto Mine begins commercial production May/08 Sherwood merges with Western Keltic to acquire Kutcho Project Nov/08 Capstone and Sherwood combine May/09 Silverstone combines with Silver Wheaton Jun/11 Capstone acquires Far West Mining Limited and Santo Domingo Project in Chile Capstone and Korea Resources Corp. (“KORES”) form strategic partnership including investment in Capstone and JV for development of Santo Domingo Apr/13 Capstone enters into a definitive agreement to purchase BHP Billiton’s Pinto Valley copper mining operation and the associated San Manuel Arizona Railroad Company (SMARRCO) in Arizona, USA. Ted Lake email@example.com LATEST ON RESOLUTION LAND SWAP
October4, 2013 A newspaper in the Payson area came out on Thursday October 3 with the story the U.S. House of Representatives passed the Resolution Copper Land Exchange Bill HR 687 and it was on its way to the U.S. Senate. The problem is this never happened, but the report which was on the newspaper’s Internet site, got a lot of attention here locally. The fact of the matter is, the full House vote on the Kirkpatrick/ Gosar legislation to pave the way for the new $6 billion copper mine was never on the House Calendar this week for action because the federal budget battle, the government shutdown and the upcoming debt ceiling continue to be the top priority with members of Congress. It was on Thursday, September 26th, when this proposed land exchange legislation was on the Calendar for a vote of the full U.S. House of Representatives. The proceedings did start with two amendments proposed by opponents for this bill, which were each voted down by the House. Debate and voting on a third amendment was to follow prior a full house vote of HR. 687 but this never happened. The House leadership immediately set aside any further proceedings on the Resolution Land Exchange Legislation and immediately focused attention over the Continuing Resolution to keep the U.S. government operating. HR687 and the final amendment have sat on the sidelines since. If Congress can end the federal government shut down, agree on the debt ceiling, observers in Washington, D.C. say it is entirely possible that the mine swap legislation could suddenly show up on the House Calendar for a full vote of the U.S House of Representatives after a vote is taken on the third amendment sought by New Mexico Congressman Ben Ray Lugan. He wants all of the Tonto Forest Lands claimed by San Carlos Tribal Leaders as “original Apache Holy Lands” excluded from HR 687 before a full vote of House members is taken. Ted Lake firstname.lastname@example.org ASARCO MINE 3,129 ACRE EXPANSION
October 4, 2013 ASARCO’ is planning to build and operate a new proposedtailings storage facility near Kearny for its Ray open pit copper mine.. The company says the new facility is designed to store approximately 750 million tons of tailings and would encompass some 3, 129 acres of land once completed. Tailings from the Ray Mine Concentrator would be transported by way of a new tailings pipeline which would cross the Gila River near the present Florence-Kelvin highway bridge. Ted Lake email@example.com ADEQ TO DENY GIBSON MINE PERMIT
October 4, 2013 The Arizona Department of Environmental Quality has served notice that it intends to deny an Aquifer Protection Permit to the Franciscan Friars of California, Incfor its old Gibson Mine property . The 220 acres of land is located southeast of the Top of the World near Madera Peak at an elevation of 4,000 feet and has been involved in past site reclamation work.. According to the state agency, on November 3, 2004, the Franciscan Friars submitted an application for an Aquifer Protection Permit for closure of the historic mining facilities. Two months later, the ADEQ said it notified the organization based in Oakland, California there was outstanding application information needed in order to complete the processing for the request permit. ADEQ says it subsequently made multiple requests for additional information from the property owner and sent two overdue notice letters on April 9, 2013 and June 4, 2013. To date, the agency said is has not received a completed application. Therefore, the Arizona epartment of Environmental Quality said it has made a preliminary decision to deny the application for an Aquifer Protection Permit at the site of the former Gibson Copper Mine. Ted Lake firstname.lastname@example.org ABHP BILLITON RAISES $5 BILLION CASH
October 4, 2013 Officials of Melbourne, Australia based BHP Billiton held a $5 billion bond sale last week where 2043 notes were sold to yield 5.001% compared to an average of 6.353 % on bond notes maturing in 20 to 30 years. The company said the cash will be used to help pay for operating costs. BHP last sold bond debt in February of 2012 with a $5.25 billion issue in five parts. Ted Lake email@example.com HOUSE VOTE ON LAND EXCHANGE “BUMPED AGAIN
September 27, 2013 HR. 687, the Resolution Copper Mine land swap bill was once again pushed aside from having a full vote of the U.S. House of Representatives. The legislation to pave the way for a new $6 billion dollar copper mine East of Superior, Arizona was on the calendar last Thursday morning for the entire house vote. An actually, although more than an hour late, the proceedings did start with heated debates on an amendment to the land swap requested by Democratic Congresswoman Grace Napolitano of California and another amendment to the measure sought by Arizona Democratic Congressman Raul Grijavla.. Both of these members of Congress are opponents to the new 7,000 foot underground mine, and both of their proposed changes to HR. 687 were defeated by votes of the House 217 to 191 and 227 to 180 . During the debate, Congressman Grijavla called the new copper mine a give away of billions of dollars worth of U.S. government property an the taxpayers were getting nothing out of it, although the new employees would be paying taxes. He wanted an 8% royalty paid by London based Rio Tinto, the parent owner of Resolution copper. But Grijavla said he couldn’t support the mine because the copper sold would be going to China and ” we shouldn’t supply China with any copper to help them with their economic growth needs.” The Congressman from Tucson alleged the land swap bill was set up to let the entire environmental review process to be handled by the State of Arizona which has weak mining laws and also claimed Native American Sacred sites were not adequately protected. However, Congressman Paul Gosar, who wrote the proposed mine land exchange bill with Democratic Congresswoman Ann Kirkpatrick told the House during the debate that HR 687 calls for the Apache Leap area at Oak Flat to be placed into a federal stewardship and “this site is protected..” Gosar said a new Economic study points out the Resolution Copper mine would bring in $19 billion dollars in taxes in addition to directly creating 2,300 mine jobs and 3,700 indirect job. Washington State Republican Congressman Doc Hastings told the House of Representatives during this discussion the Resolution Copper land exchange was ” a good piece of legislation helping the economy of Arizona an creating lots of new jobs ” Hastings said he reviewed bill now before the House and it does not waive any environmental laws . This copper mining project would have to go through all of the necessary required federal environmental procedures, he remarked. Congresswoman Ann Kirkpatrick appealed to the members of the House of Representatives to support this bill. It is important for us and rural Arizona needs these jobs, Kirkpatrick remarked. She went on to say we need to all work together and get this done now . Various legislation calling for the land swap for one of the world’s biggest copper mine has been floating around both the U.S. Senate and the House for the past ten years. There was a third amendment scheduled to be debated before the vote of the entire House of Representatives bcould be taken on the floor last Thursday, but it never happened. New Mexico Democratic Congressman Ben Ray Lujan wants to amend HR 687 not to include any of the Tonto Forest lands at Oak Flat which were being claimed by San Carlos Tribal leaders and other Native Americans as Apache sacred lands. Both remaining matters were set aside by the House for further action as members of Congress began to focus on the urgent Continuing Resolution Budget issue to keep the U.S. government operating after October 1st. Just when the HR 687, the full vote of House Members, and action on the 3rd proposed Amendment come up again for the entire House was not known. Ted Lake firstname.lastname@example.org IDA OF GILA COUNTY FUTURE PROJECTS
September 24, 2013 The Board of Directors of the Industrial Development Authority of the County of Gila has been told it appears the proposed renovation of the Miami Copper smelter will be around $500 million. Board members are wondering how Freeport McMoRan Copper and Gold, Inc is going to finance this project and if they could use the assistance of the IDA One of the goals for the Industrial Development Authority is to establish a relationship with Freeport on a corporate level and discover where copper and molybdenum from their mines are being shipped. Then to court companies that would benefit by being near the copper operations here in our county.. A Gila County IDA Website is in the making. It will utilize the Southern Gila County web page that was rejected by both the EDC and the Globe-Miami Chamber of Commerce for reasons unknown. Marketing the web site will be part of a master marketing plan that is also being worked on by IDA Administrator Sandy Palmer. The organization plans to propose different ideas to the Gila County Board of Supervisors such as an air balloon race for example. The local Industrial Development Authority is still involved with a company from Phoenix which is interested in an developing an event center at the Gila County Fairgrounds northeast of Globe. The company has committed to providing a percentage of the profits to the Gila Community College and the IDA. This new center would include a car race track. The project had been put hold as the Gila County Board of Supervisors who wanted to make changes in the IDA. Thus, new appointees were made to the organization’s board of directors.. However, after being informed about the project, the new IDA members decided there were no changes in the group’s goal for an event center near Globe were warranted.. (Source: Minutes of the Industrial Development Authority of Gila County ) Ted Lake email@example.com OPPONENTS TRYING TO AMEND RESOLUTIONLAND SWAP BILL AS U.S HOUSE GETS READY FOR THURSDAY’S FLOOR VOTE
September 24, 2013 After nearly a week delay because of the Washington budget battle,the House of Represenatives is set for a full floor vote this Thursday on HR 687 which is the Resolution Copper land swap bill. The legislation is needed to pave the way for the proposed $6 billion underground copper mine just east of Superior which would create thousand of jobs and have an expected operating life of 35 to 40 years.. As of this morning, the Kirkpatrick/Gosar sponsored land swap was the only legislation on the House Calendar this Thursday. However, the House Rules Committee is allowing debate on several amendments proposed by a couple of Democrats before the vote of the entire House of Representatives is taken. For example, New Mexico Democratic House Member Ben Ray Lujan is proposing an amendment to the Resolution Copper land swap stating it could not include any Tonto Forest Lands which are considered Sacred or Cultural by the San Carlos Apaches or other Native Americans. Democratic Congresswoman Grace Napolitano of California wants the bill to include protection for Water Resources. However, a proposed amendment by Arizona Democratic Congressman Raul Grijalva to prohibit the transfer of any title of land from occurring until after a full NEPA environmental review of the Resolution project apparently didn’t get the approval of “Rules.” Ted Lake firstname.lastname@example.org LAND SWAP VOTE DELAYED TO THIS THURSDAY
September 22, 2013 The full vote of the House of Representatives on the Kirkpatrick/Gosar mine land exchange bill tentatively scheduled for last Friday didn’t happen. Latest developments in the Washington, D.C. battle over the federal budget resulted in HR. 687 being bumped and delayed for a floor vote of the House until this Thursday, September 26th. The legislation is needed to pave the way for the proposed $6 billion underground Resolution Copper mine just east of Superior which would create thousand of jobs and have an expected operating life of 35 to 40 years.. Company officials said earlier for their project to move forward, Resolution must first complete extensive studies and will invest more than $1 billion in exploratory activities. And they have determined that an exchange of lands, as described in the Southeast Arizona Land Exchange and conservation Act ( HR 687 ) , would allow them to secure the access needed to develop the safest, least instructive mine possible. The Land Exchange legislation presently before Congress would allow the Resolution Copper Project to proceed, providing long-term economic and social benefits to the people of Arizona, while preserving more than 5,300 acres of high-quality Arizona conservation lands. Ted Lake email@example.com ASARCO TO PAY $146,600 for PCB VIOLATIONS AT HAYDEN COOPER SMELTER
September 18, 2013 SAN FRANCISCO – The U.S. Environmental Protection Agency announced that it has fined Asarco LLC $30,900 for using buildings contaminated with PCBs and improper management of PCB waste. The company will also spend $115,714 to reduce PCBs at their copper smelter located in Hayden in Southern Gila County The violations stemmed from a 2011 inspection in which EPA inspectors found two buildings contaminated with PCBs that Asarco employees continued to use, a violation of the federal Toxic Substances Control Act. “Exposure to PCBs is a concern whenever facilities are handling materials containing these toxic chemicals,” said Jared Blumenfeld, EPA’s Regional Administrator for the Pacific Southwest. “Our goal is to safeguard worker health and nearby communities by ensuring that Asarco takes the necessary steps to improve the safety of their recycling and disposal practices.” As part of the agreement, Asarco has agreed to replace three PCB transformers at the smelter, reducing future risk of exposure to workers and the environment. PCBs (polychlorinated biphenyls) are man-made organic chemicals used in paints, industrial equipment, plastics, and cooling oil for electrical transformers. More than 1.5 billion pounds of PCBs were manufactured in the United States before the EPA banned the production of this chemical class in 1978, and many PCB-containing materials are still in use today. When released into the environment, PCBs remain for decades. Tests have shown that PCBs cause cancer in animals and are suspected carcinogens in humans. Acute PCB exposure can also adversely affect the nervous, immune, and endocrine systems as well as liver function. Concerns about human health and the extensive presence and lengthy persistence of PCBs in the environment led Congress to enact TSCA in 1976. Ted Lake firstname.lastname@example.org U.S. CONGRESSMAN PAUL GOSAR SPEAKS ON LAND EXCHANGE BILL
September 18, 2013 Today, U.S. Congressman Paul Gosar appeared on C-Span’s Washington Journal with Rep. Ann Kirkpatrick to discuss their jobs bill, the Southeast Arizona Land Exchange and Conservation Act of 2013. This legislation authorizes a land exchange that would open up the largest copper mine in North America and create more than 3,700 local jobs. Click HERE
to watch the video. Click HERE
to read the story Ted Lake email@example.com ARIZONA REPUBLIC EDITORIAL ON RESOLUTION COOPER MINE
September 18, 2013 Stop dawdling on Resolution Copper — Arizona, nation needs this mine. Congress needs to get this done. A copper mine proposed near Superior is a winner. It has bipartisan support from Arizona’s congressional delegation. (How often does that happen?) It also has the potential to be an economic bonanza for our state and a national security boon to our country. We’re talking about Resolution Copper. The proposal has been around so long it has old-timer status in Arizona. Congressional approval is overdue for the land swap necessary to make this happen. Ghosts unfairly taint this deal. Beginning in 2004, Resolution Copper Mining sought a property swap to gain ore-rich federal land. Things got ugly when then-Rep. Rick Renzi got involved. How ugly? In June, Renzi was convicted of 17 counts of conspiracy, extortion and racketeering, which included an attempt to enrich himself through the Resolution land swap. Fast forward to the present. The needed land swap — sans the funny business — is in HR 687, sponsored by Democratic Rep. Ann Kirkpatrick and Republican Reps. Paul Gosar, Trent Franks, Matt Salmon and David Schweikert. It is scheduled for a House vote Friday. The bill swaps 2,422 acres of federal land for 5,344 acres of land owned by Resolution. It should pass and move on to the Senate, where Sens. John McCain and Jeff Flake have a companion bill, SB 339. This mine will bring needed economic development to rural Arizona. The mine is expected to generate 3,700 jobs and $61 billion in economic activity during its lifespan. Another $19 billion in local, county, state and federal tax revenue would be generated. We know. Controversies remain. Environmentalists are concerned because an environmental assessment won’t be done before the swap is complete. The San Carlos Apache tribe worries about encroachment on sacred land. These are important considerations. But the swap brings 110 acres of an area known as Apache Leap under federal protection. This was done in deference to the tribe. Environmentalists should keep in mind that the swap will bring thousands of acres of sensitive land now owned by Resolution under Forest Service and Bureau of Land Management control. Copper is essential for electronics, homebuilding, cars and the fast-growing alternative-energy field. Domestic production of copper falls short of demand, which raises national-security issues because copper is essential for weapons systems. A domestic supply is far more reliable. The ore Resolution wants to tap could significantly reduce the gap between demand for copper and domestic production, according to the American Resources Policy Network. Two-thirds of the copper mined in the United States comes from Arizona, according to this group, a non-profit that supports domestic mineral production. Resolution would tap one of the largest known undeveloped copper reserves in the world to keep our state a major player in copper production. The benefits of the mine are significant for Arizona and the nation. Too significant to let this project continue to languish. The House should move this forward ———————– HOUSE SET TO VOTE ON COPPER MINE LAND EXCHANGE
September 16, 2013 The Resolution Copper Land Exchange Bill introduced last January in the House of Representatives jointly by Democratic Congresswoman Ann Kirkpatrick and Republican Congressman Dr. Paul Gosar has tentatively been set for a vote of the entire House towards the end of this week. Sources in Washington, D.C. are saying that House Speaker John Boehner has finally scheduled the full vote for Friday, September 20th but add this could change because of the situation in Syria It was in May of this year when the Kirkpatrick/Gosar Bill HR. 687 passed the House Natural Resources Committee 23 to 19 and has been waiting for a full vote of the House ever since.. It was last Monday that the U.S. Congress returned to work after it’s summer break. The land swap is needed to pave the way for Resolution Copper’s New $6 billion deep underground east of Superior and it is anticipated it will probably pass with a majority vote of the House as was the case with a previous land swap bill sponsored by Dr. Gosar easily sailed through the House by a vote of 235 to 186 in favor on October 26, 2011 Passing the legislation through the House doesn’t appear to be the problem once again . In the pass the problem has been in the U.S. Senate because the legislation didn’t go anywhere in this chamber of Congress and later died. This could be the case once again. A similar Resolution land swap bill to the Kirkpatrick/Gosar House measure was introduced earlier this year in the U.S. Senate by Arizona Senators John McCain and Jeff Flake but their bill has yet to receive a hearing before a Senate committee. The two major political leaders in the U.S. Senate who are expected to play a key part in deciding the future of this mine land exchange legislation are Democratic Senate Majority Leader Harry Reid of Nevada and Oregon Democratic Senator Ron Wyden who is the chairman of the Senate Energy and Natural Resources Committee. There is encouraging news as to what Senator Wyden has done with his committee during this 113th Congress despite all of the issues back in Washington D.C. While during the 112th Congress this committee under the old leadership resulted in many of the proposed new public land bills sitting by the wayside. Some political observers in Washington have taken note the Senate Energy and Natural Resources Committee has actually sent dozens of energy and lands bill to the Senate floor for a full vote during the past few months . One report came out claiming ” there was a new era with public lands legislation finally moving in the U. S. Senate .” In commenting on the upcoming vote Friday by the full House of Representatives, Bruce Richardson who is the Manager of Communications and External Affairs of Resolution Copper said, “ Representatives Gosar and Kirkpatrick and their respective staffs have put a tremendous amount of work in getting the bill to this point, and we’re pleased their colleagues will have the opportunity to vote on it. It’s an important milestone, but the bill still has a long way to go. We are grateful to Senators McCain and Flake for leading the way for the bill to eventually be addressed in the U.S. Senate” Ted Lake firstname.lastname@example.org NEGOTIATORS IN ASARCO TALKS TAKE BREAK
September 3, 2013 After negotiating for three days last week in Tucson over a new three year wage package for some 2,400 ASARCO copper workers, company officials and representatives of eight unions decided to take a break for more than two weeks before meeting again. The only thing Manny Armenta, spokesman for the United Steelworkers Union had to say was “not much progress was made” during last weeks talks held in Tucson. Armenta said both sides will be meeting again in Tucson on Tuesday, September 17th. ASARCO has not issued any statements in the latest go around of contract negotiations. The company and unions have been meeting since last June over each side’s proposalsfor a new three year wage package. The old agreement expired on July 1st, but the unions have not called for a strike as the unions and company agreed to honor the terms of the previous wage package as workers remain on their jobs at ASARCO’s four Arizona mining properties and refinery near El Paso, Texas as management and labor continue to hammer out the terms for a new agreement. Locally, ASARCO, which is owned by Grupo Mexico, has some 1,400 workers at its Hayden Smelter, Hayden Concentrator and Ray Mine Complex. Ted Lake email@example.com 1,500 WORKERS NOW AT FREEPORT MIAMI
AUGUST 30, 2013 Latest head count of workers at its Miami operations show that Freeport McMoRan is now Miami’s largest employer. The company says it has presently some 1,000 regular employees at its local operations along with about 500 contractors per day which adds up to 1,500. This surpasses ASARCO’s operations south of here which have a total of some 1,400 regular employees at its Hayden Smelter/Concentrator and Ray Complex. Until recently ASARCO has been the areas largest employer for nearly a decade Even though ASARCO has dropped to number two, it still remains as Gila County’s largest property taxpayer with a 2012 tax bill of $5.612 million followed by Arizona Public Service Company at $2.611 million and Freeport McMoRan Miami as third highest in our county paying $1.16 million according to information from the office of Gila County Assessor Debra Savage. Ted Lake firstname.lastname@example.org MINE OPPONENT OUSTED FROM SUPERIOR COUNCIL
AUGUST 30, 2013 Superior Town Council woman Kiki Peralta, who is a major outspoken opponent of the Resolution Copper Mine and Oak Flat land exchange was soundly defeated this week by the voters of Superior in the town’s special recall election. Her challenger, Mila Besich-Lira won by a land slide by receiving 438 votes while Peralta had only 238 town voters who wanted to retain her in public office. Besich-Lira is a local businesswoman and well known community leader who has actively supported the proposed $6 billion mine by the Resolution Copper Company. She will be sworn into office as a new member of the Town Council on Thursday, September 5th. Ted Lake email@example.com BHP FIRST HALF PROFIT DROPS 29.5%
AUGUST 26, 2013 Despite company cost cutting measures and raising production at its iron ore, copper and oil operations, BHP Billiton said its first half of the year 2013 profits dropped to $10.87 billion ( U.S. ) from $15.41 billion reported at this time last year. The Melbourne, Australia mining giant said it had a net operating cash flow for the six months ending June 30, 2013 at $18.3 billion (U.S.) which demonstrates the strong financial position of the company. During the first six months of 2012, BHP said its cash flow during the period was $24.4 billion. Stockholders were also told a targeted divestment program led by management continues to realize significant value for shareholders with major transactions totaling $6.5 billion announced or completed during the first six month period of the year. This includes the announced sale of the Pinto Valley Copper mine near Miami, Arizona to Capstone Mining Company of Canada for $650 million cash. In addition BHP said its progressive based dividened increased by 4% to 116 cents per share. In a separate announcement issued earlier BHP officials announced their company was under investigation by the U. S. Government. They explained the probe relates primarily to matters in connection with previously terminated exploration and development efforts as well as hospitality provided as part of the company’s sponsorship of the 2008 Beijing China Olympics. The statement from the company said in part, “As previously disclosed BHP Billiton received a request for information in August 2009 from the US Securities and Exchange Commission (SEC). As a result the Group commenced an internal investigation and disclosed to relevant authorities including the U.S. Department of Justice (DOJ) evidence that it uncovered regarding possible violations of applicable anti-corruption laws involving interactions with foreign government officials. As has been publicly reported, the Australian Federal Police has indicated that it has commenced an investigation. The Group is fully cooperating with the relevant authorities as it has since the US investigations commenced.” Ted Lake firstname.lastname@example.org LATEST ASARCO NEWS
AUGUST 19, 2013 Labor negotiations for a new 3 year wage contract are continuing with officials of ASARCO Copper and its unions. The old contract expired on July 1st, but workers are still on their jobs under the terms of the expired agreement by mutual consent of both the company and half dozen unions. ASARCO has some 2,400 employees at its copper mines here in Arizona and a copper refinery near El Paso, Texas. Many Armenta of the United Steelworkers Union ,who is on the negotiating committee, says both the company and the unions met last Thursday and Friday. Further talks are not scheduled this week but the two sides have set three days aside next week for further discussions to try and reach a new wage package for its copper workers. The resumption of contract negotiations will be on Tucson on August 28, 29 and 30th.. Meanwhile it has been learned that ASARCO plans to increase the copperoutput at its Mission Mine this yearby 16% because of the mill expansion project there which means some additional 10,000 tons of ore production. Ted Lake email@example.com CARLOTA MINE POSTS $4.4 MILLION PROFIT
AUGUST 19, 2013 KGHM International has released its second quarter results reporting its four operating mines brought in a total of $314.3 million ( U.S.) dollars in revenues for the 90 day period ending June 30th. The Carlota open pit copper mine west of Miami had $18.1 million in revenues during the period, while for Robinson Copper Mine in Ely Nevada it was $150.5 million, the Franke Mine in Chile was listed at $28.6 million and for the Sudbury Mine in Canada revenues reached $46.1 million. In outlining the net income for each mine during the quarter, for the Carlota it was a profit of $4.4 million, the Robinson Mine made $41.2 million while the Frankie lost $12.6 mllion and the Sudbury also had a loss of $11.1 million. The financial report listed the total quarterly income from its mining operations at $26.9 million. However, Segment earnings before taxes was shown at $12.6 million and income taxes amounted to $10.9 million. KGHM International is a Canadian Company formed by KGHM of Poland after it purchased Vancouver based Quadra Mining, the previous owner of the Carlota and the three other producing properties. KGHM is the world’s 10th largest copper miner. Ted Lake firstname.lastname@example.org 2,000 WORKERS LAID OFF BY RIO TINTO
AUGUST 19, 2013 Ongoing fights over mining revenues Rio Tinto has been having over its huge new $6.6 billion (U.S) mine in the country of Mongolia have gotten worse leading to a massive lay off and the curtailment of copper and gold production. Mongolia is located between Russia and China According to New York’s Bloomberg Television mining officials gave pink slips to 2,000 workers last week. It was reported the decision to lay of the workers came after months of disagreement between the Government of Mongolia and Rio Tinto on how to share revenues from the new mining operation. The government is a minority ownerr of project at 34%. Underground expansion at the mine was delayed 30 days earlier because of the continuation of issues over the amount of taxes to be paid to the government, amount of royalty pavements and Rio’s increasing debt for expansion of the mine. Bloomberg claims concerns over the project’s fate have already hurt that country’s economy. Global mining giant Rio Tinto is based in London, England and is the owner of the Resolution Copper Project at Superior. Ted Lake email@example.com BHP BILLITON TARGET OF FEDERAL INVESTIGATION
AUGUST 19, 2013 Officials of Melbourne based BHP Billiton issued a press release last Thursday ( yesterday ) announcing the company was under investigation by the U. S. Government. In its statement BHP explained the probe relates primarily to matters in connection with previously terminated exploration and development efforts as well as hospitality provided as part of the company’s sponsorship of the 2008 Beijing China Olympics. Bloomberg News says both the U.S. Securities and Exchange Commission and the Department of Justice are involved in this investigation.. Below is the official announcement made by the company: As previously disclosed BHP Billiton received a request for information in August 2009 from the US Securities and Exchange Commission (SEC). As a result the Group commenced an internal investigation and disclosed to relevant authorities including the U.S. Department of Justice (DOJ) evidence that it uncovered regarding possible violations of applicable anti-corruption laws involving interactions with foreign government officials. As has been publicly reported, the Australian Federal Police has indicated that it has commenced an investigation. The Group is fully cooperating with the relevant authorities as it has since the US investigations commenced. As a part of the US process, the SEC and DOJ have recently notified the Group of the issues they consider could form the basis of enforcement actions and discussions are continuing. The issues relate primarily to matters in connection with previously terminated exploration and development efforts, as well as hospitality provided as part of the Company’s sponsorship of the 2008 Beijing Olympics. In light of the continuing nature of the investigations it is not appropriate at this stage for BHP Billiton to comment further or to predict outcomes. BHP Billiton is fully committed to operating with integrity and the Group’s policies specifically prohibit engaging in unethical conduct. BHP Billiton has what it considers to be a world class anti-corruption compliance program. Ted Lake firstname.lastname@example.org COPPER FOX STUDYING OLD DRILLING RESULTS
August 12, 2013 It was some 1,100 acres of mineral rights in around and under the town of Miami of the old Van Dyke Properties that were purchased earlier this year by Copper Fox Metals of Vancouver, Canada. The company has now announced as of this week it was going over the exploration drilling work that was done some three decades ago on the copper deposit under the Town of Miami by the Occidental Petroleum Company. Stockholders were told on Monday that company officials were compiling data and reviewing over 6,000 boxes of core samples taken from 72 drill holes , diamond dilling, environmental and geo technical studies done on the Van Dyke Copper project by Occidental Ted Lake email@example.com TOWN HALL ON MINE LAND EXCHANGE BILL – KIRKPATRICK AND GOSAR HERE NEXT WEEK
August 12, 2013 While the 113th U.S. Congress is in summer recess until September 9th, Democratic Congessman Ann Kirkpatrick and Republican Congressman Dr. Paul Gosar are taking time out to be in the nearby town of Superior next week to discuss the progress of their Resolution Copper Land Exchange Bill HR 687 which was introduced during the first part of the year in the House. The measure, officially called the Southwest Land Exchange and Conservation Act of 2013, easily passed the House of Representatives Natural Resources Committee on May 15th, but has been waiting ever since to come to the floor of the House for a fill vote. A similar bill was introduced in the U.S. Senate by Republican Senators John McCain and Jeff Flake but has yet to reach a hearing stage before a Senate Committee. Passage of the bill in both the House and the Senate in addition to getting approval of the President is needed to pave the way for the multi billion dollar underground Resolution Copper Mine East of Superior. Congresswoman Kirkpatrick says ” Our bipartisan jobs bill is moving forward, but there’s more work to be done and that includes having more discussions.” Dr. Gosar adds ” Getting our critical jobs bill across the finish line requires Arizonans to rise up and let their voices be heard. Nearly 4,000 jobs and billions of dollars in economic activity are at stake. We invite the public to join us in Superior to let your representatives know that you stand for jobs and economic growth.” Both Kirkpatrick and Gosar are urging supporters of their land swap bill HR 687 and the huge new Resolution copper mine to come and participate in their Town Hall which will be at the Superior High School Tuesday night, August 20th, starting at at 6pm. Superior High is located at 100 West Mary Drive. Although Kirkpatrick and Gosar have not said this in their press releases the problem with the 113th Congress is it has been grid locked most of the year on numerous other issues and hasn’t really had the time to consider the land swap legislation for a new major jobs producing local copper mine which is expected to have a production life of some 30 to 40 years ( existing copper mines in Globe-Miami have projected lives of 5 years or less ). The New York Times has come out saying the present Congress has accomplished almost nothing and has only passed about half of the bills of the 112th Congress adding this could be one of the least productive Congresses in this country’s history. Ted Lake firstname.lastname@example.org RIO TINTO 6 MONTH EARNINGS DOWN
August 12, 2013 London based Rio Tinto, the world’s second largest mining company has told stockholders its first half underlying earnings for the six months ending June 30th of this year were $4.2 billion which is down 18 percent from this time last year. The company said these results reflect lower average market prices and higher effective tax rate, partly offset by record iron ore shipments and cost savings momentum. According to Rio Tinto officials, cost reductions which have been underway since January are gathering momentum. $1.5 billion of total costs improvements have been achieved, including $977 million in operating cost improvements and $483 million from lower exploration and evaluation spending during the first half of 2013. Capital expenditures were reduced by nine percent to $7 billion during the six month period. For the entire year, the 2013 capital expenditures are expected to be around $14 billion, 20 percent lower than the peak capital expenditure of 2012. Sam Walsh, Chief Executive Officer of Rio Tinto, stated “We are seeing good early results of our business performance initiatives in our pursuit of greater value for sharestockholders. This, he said, has driven strong operating cash flows, on part with the first half of 2012, despite weaker prices for most of our products. Walsh further stated , “The medium-term economic outlook remains volatile with a broader range of outcmes now possible. Chinese economic growth has decelerated so far this year and is unlikely to recover significantly in the second half, but we do not expect a hard landing.” “The global economic volatility only serves to highlight the need to build a stronger and more resilient business. I have reinforced our capital allocation processes to insure that we are only investing in the best opportunities. We have reduced capital expenditure from the peak level of last year and we expect it to be 20 percent lower in 2013″. “I believe that we are well on track to build a stronger Rio Tinto. We are making good progress against our clear commitments and remain focused on the pursuit of greater value for our shareholders,” he remarked. (Rio Tinto is the owner of the Resolution Copper Company based in Superior). Ted Lake email@example.com PINTO VALLEY BUYER INVOLVED IN CHILE PROJECTS
August 12, 2013 Vancouver based Capstone Mining Corporation which is purchasing the Pinto Valley Copper Mine here from BHP Billiton for $650 million is also active in copper projects in the country of Chile. The company has just announced that it entered into an option agreement with the South American company Sociedad Quimica y Mineral de Chile S.A. to earn up to 70% interest the copper exploration project called “Project Providencia. The option covers an exploration area of 3,500 square kilometers and is located 50 kilometers east of the city of Taltal, approximately half way between Capstone’s Santo Domingo Copper project and Anglo American’s Mantos Blancos Copper mine. The exploration site is about 1,800 meters above sea level, with mostly gentle topography and it benefits from the Pan-American Highway cutting going through the area. Cindy Burnett, Vice President of Capstone’s Investor Relations and Communications Capstone has paid US $1million upon signing and will immediately commission a high resolution, combined magnetic and radiometric airborne survey over the land. Both surveys will be useful in providing a basic geological framework from which to start exploration but the magnetic survey will be particularly useful in identifying anomalies of interest since the principal target is a magnetite rich IOCG deposit, similar to Santo Domingo. She says Capstone will be the operator of the project and may earn up to a 70% interest in the Property over 7.5 years in incremental steps by spending on exploration and land holding costs. Ted Lake firstname.lastname@example.org BHP COMPLETES ANOTHER SALE OF ASSETS
July 30, 2013 Melborne based BHP Billiton recently completed the sale of its 8.33 per cent interest in the East Browse Joint Venture and 20 per cent interest in the West Browse Joint Venture. Both oil drilling projects are located offshore Western Australia. BHP received $1.63 billion (U.S) in this transaction. from Petro China International Investment which is based in the Peoples Republic of China. BHP is expected to receive shortly $650 million (U.S ) from the sale of its Pinto Valley Copper mine west of Miami, Arizona. Capstone Mining of Canada is buying the open pit mine which is located on 5,000 acres of privately owned land.. The closing of the Pinto Valley purchase is targeted during the third quarter of this year. Ted Lake email@example.com OPTIONS SOUGHT FOR HAYDEN SMELTER – ASARCO MINE OWNER PROFITS DROP 53%
July 30, 2013 It has been six months and two quarterly financial reports later since Grupo Mexico lost its appeal with several others in the U.S. Supreme Court over the new Environmental Protection Agency emission restrictions now required in the operations of copper smelters and power plants in this country. During its appeal process the Mexico city based company did say it could not afford to spend $1.2 billion dollars called for to revamp its huge ASARCO copper smelter at Hayden in Southern Gila County in order to comply with tougher emission rules. The company has said nothing publicly about the situation since until Monday of this week which was in response to an inquiry from this reporter. In a brief statement, spokesman Tom Aldrich said ” ASARCO is looking at options for the smelter but nothing to report at this time.” Meanwhile the parent company’s second quarter financial results were just released .Grupo Mexico which is Mexico’s biggest copper miner and also that nation’s largest railroad operator, said its net income dropped 53% from one year ago because of a decrease in global metal prices and also a drop in financial gains on foreign exchange moves. Here in the U.S. Grupo Mexico operates three mines, one smelter all located in Arizona and one copper refinery near El Paso, Texas. It’s largest copper mine in Mexico which also has a huge operating smelter nearby are located at Canenea in the state of Sonora across the Arizona -Mexico border south of Douglas ,Arizona.. The company also owns the Southern Peru Copper Company and operates the Texas Pacifico Railroad in the United States Stockholders were told the profits for the 90 day period ending June 30, 2013 were $292 million U.S. dollars compared with $626 million during the second quarter of last year. Net earnings for the first half of 2013 amounted to some $869 million. Consolidated sales for the quarter were $2.24 billion which is a 9% decrease from the first quarter of this year primarily because of lower metal prices. The company said the average price of copper for the second quarter declined 8% from last year during the same time period. It was noted during the quarter which ended copper was fluctuating as high as $3.41 a pound to as low as $3.01. Production at the open pit Ray Complex in the Hayden /Kearny area was up 6% compared to the first 90 day period of the current year. To date, the cost of investment for the expansion of the concentrator at the Mission Copper Mine near Tucson has reached $49 million out of $60 million budgeted for the expansion project. It was further reported the new molybdenum plant at the Mission Mine just commenced operations at the end of the second quarter. Cost for building the plant was $5 million . The facility has a production capacity of 544 tons of molybdenum. On the local front ASARCO is Gila county’s biggest property tax payer because of the millions of dollars of assessed valuation placed on its operations of the Hayden Smelter, Hayden Concentrator and that part of the Ray Open pit mining site located in Gila County. Note : The majority of the Ray mine itself is located in nearby Pinal county. Ted Lake firstname.lastname@example.org MIAMI SMELTER PROJECT ON HOLD
July 25, 2013 A potential major mine construction project here in Globe-Miami has basically been put on hold by Freeport McMoRan Copper and Gold Inc because of money issues. This is the result of an earlier announcement from the company that it would be cutting nearly two billion dollars in spending over the next year and a half because of a heavy debt of $21.1 billion dollars it is facing while net income has been dropping. Freeport McMoRan released a list of 8 major capital expenditures projects totaling more than $1.4 billion dollars now being deferred because of its current financial crunch. The Miami Smelter Modification and Expansion project is on this list. The company announced earlier in the year it was planning to revamp the local copper smelter in order to meet the new EPA regulations which received U.S. Supreme Court approval in January. An evaluation of the smelter situation has been underway which was anticipated to be completed during the third quarter of this year. Based on earlier statements filed in the Supreme Court case, modifying Freeport McMoRan’s smelter near Miami, Arizona was expected to cost several hundred millions of dollars, while Grupo Mexico which filed and lost the appeal before the high court claimed the new restrictions would cost its firm $1.2 billion to overhaul its ASARCO copper smelter at Hayden, in Southern Gila County in order to comply with the new tougher EPA emission requirements. Plans for the Miami smelter improvements are now on deferred status along with 7 other big company mining projects. Three of these were planned at the Grasberg Copper and Gold Mine in Indonesia, another calling for the development of a leach pad was for the company’s El Abra Copper Mine in Chile. Two other projects called for mine expansion and a second acid plant for the Tenke cobalt and copper mine in Africa. In addition Freeport’s plans calling for reductions at its oil and gas cap-ex have been set aside until 2014 . In addition, the Phoenix based mining firm is putting on the back burner $500 million in other projects including various exploration and research work. And it was announced a process was now underway for Freeport McMoRan to divest its recently acquired oil and gas holdings in the Gulf of Mexico to help pay down the new huge debt. In a news release put out by Freeport it was stated ” We are taking measures to execute prudent capital management in an uncertain global economic environment.” Debt for Freeport McMoRan and Gold Inc, jumped to $21.2 billion as of June 30th from $3.52 billion a year earlier after it acquired McMoRan Exploration Company and Plains Exploration & Production Company to add oil and natural gas assets to its holdings. The company says it is facing lower prices for copper and gold. Freeport noted it has reduced its metal sales forecast for 2013 after and accident killed 28 persons at its Grasberg mine in Indonesia in May. Second-quarter net income fell to $482 million compared to $710 million at this time one year ago. For the first six month of this year, profits were $1.1 billion which was down from $1.5 billion reported at this time last year. Sales dropped 4.2% to $4.29 billion from $4.48 billion for the same quarter last year. Ted Lake email@example.com FREEPORT ANNOUNCES NEARLY $2 BILLION CUT BACKS AS PROFITS FALL!
July 23, 2013 Because of new heavy debt and dropping profits officials of Freeport McMoRan Copper and Gold announced the company will cut it spending by $1.9 billion over 12 months and has started a process to sell its U.S. energy assets to reduce its debt. In addition, the Phoenix based mining firm said it plans to cut totaling borrowings to $12 billion over the next three years. However, details of the spending cuts were not released and it is not known if these cuts are going to apply to local operations here and if this also means the Miami smelter modification project which could cost up to several hundred million dollars will be put on hold. There are some 1,000 persons working at the company’s operations here in Globe-Miami, that is the open pit mine, the rod plant and the smelter. In a news release put out by Freeport it was stated ” We are taking measures to execute prudent capital management in an uncertain global economic environment.” Debt for Freeport McMoRan and Gold Inc, jumped to $21.2 billion as of June 30th from $3.52 billion a year earlier after it acquired McMoRan Exploration Company and Plains Exploration & Production Company to add oil and natural gas assets to its holdings. The company says it is facing lower prices for copper and gold. Freeport noted it has reduced its metal sales forecast for 2013 after and accident killed 28 persons at its Grasberg mine in Indonesia in May. Second-quarter net income fell to $482 million compare to $710 million at this time one year ago. For the first six month of this year, profits were $1.1 billion which was down from $1.5 billion reported at this time last year. Sales dropped 4.2% to $4.29 billion from $4.48 billion for the same quarter last year. Ted Lake firstname.lastname@example.org FOLLOW UP STORY – STOCKHOLDERS SAY NO TO FREEPORT EXECUTIVE PAY
July 22, 2013 Apparently upset about millions of dollars paid to corporate executives in the past several years, the shareholders of Freeport McMoRan Copper and Gold issued a loud no to a new proposed compensation plan for top officials of the Phoenix based mining firm. It was last week on July 16th during Freeport’s annual meeting in Wilmington, Delaware when the shareholder votes were counted on a number of issues. Freeport’s compensation proposal for its executive officers was overwhelming voted against by a count of 413,365,246 stock shares while there 171,978,015 votes in favor. Freeport called this an advisory plan which failed to get the approval of the stockholders meaning the vote on this issue by the shareholders is not binding on executives according to company spokesman Eric Kinneberg. He told the Phoenix press the board of directors will look at this executive compensation plan and consider how to please both stockholders while providing incentives for its corporate leaders. Stockholders during the annual event did elect each of the fifteen nominees to serve on the Freeport McMoRan Board of Directors for a term that will continue until the next annual meeting. This included Richard C. Adkerson, President and Chief Executive Officer and James R. Moffett, Chairman of the Board. Adkerson received a total share holder vote of 561,117,123 while there were 29,446,637 votes withheld. Moffett received 489,118,265 shareholder votes while there were 101,445,495 withheld.. The shareholders last week failed to approve a stockholder proposal regarding the selection of a candidate with environmental expertise to be recommended for election to the company’s board of directors. What also failed was a stockholder proposal requiring the adoption by the Freeport McMoRan board of directors on a policy of board diversity. They did approve a proposed amendment to Freeport McMoRan’s bylaws to permit stockholders holding 15% of the outstanding common stock to be able to call a special meeting of shareholders . Also approved was another stockholder proposal requiring the Chairman of the board of directors be an independent member of mining company’s board. This information for this story came from the July 18, 2013 filing made by Freeport McMoRan Copper and Gold Inc to the U.S. Security and Exchange Commission. The statement given to the SEC did not include specifics about the compensation plan for corporate executives. Ted Lake email@example.com FREEPORT STOCKHOLDERS SAY NO TO COMPENSATION FOR COMPANY EXECUTIVES
(Bloomberg News July 19, 2013) Freeport-McMoRan Copper & Gold Inc. (FCX) shareholders voted against approving the compensation of executives at the world’s largest publicly traded copper producer. There were 172 million votes cast at Freeport’s July 16 annual shareholders meeting to approve the compensation and 413 million votes were against, the Phoenix-based company said today in a filing. An investor proposal requiring Freeport’s chairman to be an independent director was approved, as was a proposal allowing holders of 15 percent of Freeport shares to call a special investor meeting. Ted Lake firstname.lastname@example.org SUPERIOR COUNCIL RECALL
July 16, 2013 It has been announced that Mila Besich-Lira is a candidate in the Tuesday, August 27th, Superior Town Council recall election. Mila is a Superior businesswoman, local community leader, a newspaper writer and a backer of the Resolution Copper Project. The recall is against incumbent Town Council member Soyla Kiki Peraltawho has been a major outspoken opponent of the proposed $6 billion Resolution Copper Mine at Superior. Peralta has appeared before a subcommittee of the House Natural Resources Committee, before the Globe City Council and on KAET Channel 8 Television speaking in opposition of the Oak Flat land exchange needed to pave the way for the new 7,000 foot underground mine. Members of the Superior Copper Alliance, a group of citizens who support the Resolution mine project , collected more than 200 signatures from the town’s registered voters resulting in the recall of council member Peralta. The last day for voters to register for next month’s election is July 29th. Ted Lake email@example.com FLORENCE COPPER MINE GETS AMENDED ADEQ PERMIT
July 15, 2013 The Arizona Department of Environmental Quality (“ADEQ”) has completed the required public consultation and review process relating to the Aquifer Protection of the site being proposed for a $500 million dollar copper mine by the Florence Copper Division of Curis Resources of Canada. “Receiving the final Aquifer Protection Permit for the Phase 1 operations after a thorough public consultation process is good news for Florence Copper and for the Town of Florence,” said Florence Copper’s Vice President and General Manager Dan Johnson. He notes ADEQ is the agency responsible for protecting Arizona’s water quality and they have done that just with this permit. This is one of two major operating permits required for Florence Copper in order to move to the first phase of operations. Johnson said the Phase 1 operations will consist of a Production Test Facility (“PTF”) that includes a 24-well in-situ recovery. well field, a state of the art solvent extraction/electrowinning facility that will produce pure copper cathode, and associated infrastructure. The PTF, he says, will demonstrate the science and safety of in-situ technology. Ted Lake firstname.lastname@example.org TONTO FOREST: STOP TOTAL CLEARANCE OF PHILLIPS MINE SITE
The Phillips Asbestos Mine Gila County’s historical industry of asbestos mining dates back to 1872 when this rock fiber was first discovered at Chrysotile near Ash Creek. It wasn’t until June 27,1916 when the community of Chyrsotile, population 150, officially had a U.S. Post Office .Over the long years there were numerous other small mines that flared up near the Salt River Canyon and elsewhere in the north central part of the county. However, it wasn’t until the1940′s and 1950′s when the demand for asbestos reached its heyday creating lots of local jobs and bringing money into the community. But later the mining boom came to an abrupt ending with many asbestos mines and their mills folding up over the uproar over the discovery that exposure to asbestos could cause mesothelioma cancer. The industry was hit with numerous lawsuits and many mines and their owners or corporations went into bankruptcy and then out of business. . The Phillips Asbestos mine north of Globe on the south side of the Salt River Canyon is one of those old mining properties that went through the boom and later the bust. Guy Phillips and his wife Ruby Mae Phillips had a house near the mine tunnel. The tunnel by the way was first built in the canyon wall. It was around 1962 Guy Phillips was murdered, shot to death in his home. His wife was charged with his murder but she was later acquitted by a Gila County Jury in Globe.
Abandoned Settlement of Mule Hoof Bend What is amazing about the Phillips mine situation, after all these years, some structures still remain in the area of the underground mine including the couple’s house where he was killed., even with the heavy vandalism which has occurred here over the years. Photographs of what was their home, a few mine structures, tunnel entrance and tailings were taken a few years back and can be seen on the Internet at forum.ghosttowns.com
. There are other websites which also have more recent photos and these can be found by clicking on the name of the small abandoned nearby community of ” Mule Hoof Bend.” Last month the Tonto National Forest came out announcing plans which call for basically clearing off, burying, or covering whatever is left of the old Guy and Ruby Mae Phillips Home and their former asbestos operations which all are situated on mining claims they had located many years ago on Tonto National Forest Land. However, with these photographs showing what remains at the Phillips Mine property and nearby area, there is now some thinking by those in our community including Donna Anderson of the Gila County Historical Society that although the Phillips site needs to be cleaned up from the hazards of asbestos, shouldn’t this federal agency also be directing its efforts to preserve and restore what remains not only because it is historical the area it appears to have the potential of becoming a tourist attraction. The Phillips mine represents basically all of what is left from an early part of our history here some 40 to 50 miles north of our community. From this writers’ point of point, the Tonto National Forest needs to take a look at what they can do to benefit the community in addition to cleaning up a serious health hazard. How about having a detailed historic evaluation done on the Phillips site and nearby “Mule Hoof Bend” area before taking any final action of total site clearance in what the Forest Service apparently wants to do? The bottom line is there are things remaining at the Phillips mine and surrounding area that perhaps should be considered for historic preservation if this can be feasbility done along with the removal of the remaining hazardous asbestos at the Salt River Canyon site..
Inside Guy & Ruby Mae Phillips House The Phillips mine represents basically all of what is left from an early part of our history here some 40 to 50 miles north of our community. From this writers’ point of point, the Tonto National Forest needs to take a look at what they can do to benefit the community in addition to cleaning up a serious health hazard. How about having a detailed historic evaluation done on the Phillips site and nearby “Mule Hoof Bend” area before taking any final action of total site clearance in what the Forest Service apparently wants to do? The bottom line is there are things remaining at the Phillips mine and surrounding area that perhaps should be considered for historic preservation if this can be feasbility done along with the removal of the remaining hazardous asbestos at the Salt River Canyon site.. The public needs to speak out now on this issue . You don’t have much time left. Get some of your written comments together with your thoughts about the old Phillips Mine and get them over to the Tonto Forest Main headquarters in Phoenix.. You can do this by either U.S. Mail or e mail. Deadline is the end of the business on July 15th of next week
Abandoned Phillips Mine Buildings
Road to Old Phillips Mine Mailed comments can be sent to: Anne Fischer Phillips Asbestos Mine EE/CA Leader Tonto National Forest 2324 E. McDowell Road Phoenix, Arizona 85006 Ted Lake email@example.com CARLOTA TO STOP MINING SULFIDE COPPER
July 8, 2013 All mining of copper sulfide ores at the Carlota Copper Mine is expected to stop this summer according to the latest information released by Polish based KGHM International , which is the owner of the open pit mine west of the Town of Miami. In its Management Analysis for the Year 2012 and Fourth Quarter of 2012 released last week, KGHM said the Carlota continues its mine-for-closure plan in 2013 with waste material to be placed as capping on the Grizzly waste stockpile. Third party engineer studies of various closure components continue with ” plans in place to commence the pit back-fill upon completion of mining of the sulfide ores by mid year (2013).” The report went on to say “Carlota continues to design and implement a mine-closure plan which uses current mining operations to optimize cash flow while advancing activities related to winding down of operations. Normal operations continue utilizing mining to advance concurrent reclamation activities using existing man power and equipment to minimize long term environmental impact.” Canada’s Quadra FNX Mining, previous owner of the Carlota, had obtained a $10 million dollar bond for the purpose of assuring government regulators that a proposed site reclamation plan for mine close out was followed. The Carlota site consists of lode mining claims which were located on some 3,000 acres of Tonto Forest Lands with the company apparently not owning outright any fee title lands. The Carlota, which cost some $240 million to develop, has a present full cash value of $5,466,750 for the tax year 2013 according to information from the Arizona Department Revenue Property Tax Division Centrally Valued Properties Unit. Freeport McMoRan Miami’s Centrally Valued Property Mine Operations in the Miami area, according to the state agency, have a full cash value for the tax year 2013 at $53,851,728. However, that is expected to drop after 2016 when Freeport halts mining at its Miami Mine open pit. Freeport said recently that it expects to complete a 1,000 acre ongoing reclamation project on its Miami properties next year. The company also stated in a report to the community that on going activities at Freeport Miami “beyond 2016 include reclamation, residual leaching and smelting.” Contrary to the situation with the Carlota, Freeport McMoRan Miami owns outright( fee title ) most of the lands it has its local mining operations on although there are a few mining claims on government lands. KGHM announced last week the Carlota mine had a total profit of $16.3 million in 2012, and during the last quarter of the year it made a profit of $6.1 million. This compares with a loss of $196.9 million during 2011. Average cost of producing copper in 2012 was $2.70 a pound compared to $3.04 a pound the previous year. During 2012 the state run company said some 22.9 million pounds of copper was recovered from the Carlota compared to 23.6 million pounds the previous year. Two years ago, Carlota reached its employment peak of some 250 workers and today reportedly has less than 50 workers. Overall, from all of its mining properties in Poland ( where the company also operates a smelter ), Canada, South America and the United States ( Carlota, Miami, Arizona and Robinson Mine, Ely Nevada ). KGHM’s income in 2012 increased $330 million from a loss of $145 million in 2011. Total production of copper last year was 244 million pounds and 95 thousand ounces of precious metals. Total net revenue for 2012 was $1,385 million up 25% over 2011. And at the end of the year, December 31, 2012, the company had $537 million in cash on hand. Start up costs for its Sierra Gorda Copper mine in Chile were reported at $3.9 billion in which KGHM’s Japanese Partner, the Sutomoto Corporation, was sharing in cost for this South American project. KGHM is the 10th largest global producer of copper. Ted Lake firstname.lastname@example.org ASARCO LABOR TALKS UNDERWAY FOR NEW CONTRACT
July 2, 2013 Labor talks between ASARCO officials and Representatives of the United Steelworkers and other unions are scheduled to resume July 9th in Tucson. According to ASARCO President and Chief Operating Officer Manuel Ramos, the parties have been negotiating for the past four weeks on an agreement for a new labor contract at the copper company’s four operating facilities here in Arizona and one in Texas. Ramos said the talks have resolve a number of matters. In addition, he said both sides have agreed to continue the existing Collective Bargaining Agreement in effect after the June 30 expiration date until either party provides 15 days notice of cancellation. ASARCO, head quartered in Tucson has 2600 employees with nearly 1, 400 at its Hayden Smelter/Concentrator and Ray Mine Complex. Unions are scheduled to resume EURASIAN MINERALS AND BRONCO CREEK EXPLORATION
Vancouver based Eurasian Minerals has announced its 2013 drilling results for its Copper Basin Copper Project in Central Arizona. The company said deep drilling has confirm the present of a large porphyry-molybdenum system with nearly a kilometer of vertical extent within a 1.5 square kilometer area defined by the presence of copper. The exploratory drilling program consisted of seven diamond holes totaling 2,766 meters. Detailed results have been posted on the company web page. Brazil’s mining giant , Vale, which is a partner in the local copper exploration program underway in our part of the state, is paying 100% of the drilling costs. Eurasian Minerals is the project operator through its wholly owned subsidiary Bronco Creek Exploration located in Tucson. Bronco Creek is involved in numerous mineral exploration projects in both Arizona and Nevada PROPOSED ROSEMONT COPPER MINE
A Senior Geologist for Canada’s Augusta Resources says the company’s new Rosemont Copper Mine 30 miles South of Tucson is edging closer to a reality after five years in the planning. The company official is Jeff Cornoyer who is quoted by the Sierra Vista Herald as saying this winter or around the 1st of the year “we should have a shovel in the ground.” In speaking at a meeting of two dozen contractors, Cornoyer said Rosemont is set to spend $1.3 billion during the following two years in developing the open pit operations.. He points out the company presently has $90 million worth of equipment on the ground for the mine construction. The 4,400 acre facility is expected to produce 243 million pounds of copper each year was well as smaller amounts of other metals. Ted Lake email@example.com DISPUTE OVER MONIES FROM NEW $6.6 BILLION RIO TINTO MINE CHINA EXPECTED TO BE MAIN CUSTOMER
JUNE 23, 2013 The Country of China is slated to be the main customer of Rio Tinto’s $6.6 billion Oyu Tolgoi Copper and Gold Mine which is ready to start producing ore. This giant mine, located in the country of Mongolia, is said to have a deposit which will produce 450,000 metric tons of copper and 330,000 ounces of gold a year, as well as silver and molybdenum. Although the mining site is not expected to be fully operational for a few more years the first shipment of copper ore to China was expected to be officially underway last Friday.. but that didn’t happen. This major event was canceled at the last minute because of a new dispute which erupted between London based Rio Tinto and the government of Mongolia. According to Bloomberg Television, government leader of Mongolia are insisting that all revenue from this new mine stay in their country and be held in a Mongolian based bank which Rio Tinto is not agreeing to.. Rio Tinto which has mining operations throughout the world is the owner of the Resolution Copper Project by the Town of Superior. Ted Lake firstname.lastname@example.org SITE OF FAMOUS MURDER 50 YEARS AGO – FOREST SERVICE WANTS OLD PHILLIPS MINE CLEARED
JUNE 17, 2013 It’s the place 45 miles north east of Globe where a famous murder occurred in the early 1960′s. The homicide resulted in two closely watched jury trials in the old historic Gila County Superior Court in downtown Globe which received considerable statewide attention and caught the eye of a national crime magazine. Guy Phillips, a well known Asbestos mine owner, was found shot and killed at his home adjacent to his mine which sat high above the south side of the Salt River Canyon about one half mile west of Mule Hoof Bend, which is reached from a narrow 4 1/2 mile road extending northwesterly from U.S. 60 at Seneca to this remote area. His long time wife Ruby Mae Phillips was considered by Gila County Sheriff Jack Jones as the prime homicide suspect in Guy’s death. After investigators gave her hands paraffin tests which allegedly tested positive for gun powder residue, she was arrested by the Sheriff and charged with murder. Two well publicized trials were held in the Phillips case. In the first lengthy jury trial held in the upstairs superior court room at the historic Gila County Courthouse in downtown Globe, the jury could not reach a verdict. A second trial was later held and she was acquitted. Veteran newspaper reporter Wade Cavanaugh of Globe, wrote extensive reports about the trials which continued to receive statewide interest as they appeared in the Arizona Republic Newspaper. “Startling Detective” had its Special Investigator, Earl J. Abbott, looking into the murder of Guy Phillips in its national edition which came out in May, 1963. The plight of Mrs. Phillips was the main story and it was highlighted on the cover of the front page of the magazine which said ” The Arizona Police Want Ruby Mae Phillips to Confess to a Crime She Claims She Did Not Commit.” Then, inside this publication, Mrs Phillips was quote as saying. “I loved him, You have to feel love for a man you lived with for 19 years.’ Mrs Phillips has since passed. It was some 50 years ago her husband was shot at killed in their home. And today, the abandoned remains of the once booming Phillips Asbestos Mining Company during the war years still survive. Although some of the structures including the Phillips home are heavily damaged and vandalized, when last seen they still had roofs. If one goes to the Internet, you can see photos taken several years ago in this remote area as to what remains of the mine buildings, the opening to the mine….what was left of the Phillips home, the inside murder scene, along with empty buildings from the once small nearby community of Mule Hoof Bend. These photos are all on the website Forum.ghosttowns.com and are from the fascinating series of “Ralph and Laura’s Back Road Adventures” available on the web After all these years, the Tonto National Forest has started to take action for the purpose of clearing what remains of old contaminated Phillips Asbestos Mining Company site which was located on mining claims filed on federal government lands. Last week, officials of the Tonto announced plans concerning the future of this old mining and milling site. According to Anne Fischer, spokesperson for the federal agecny, the Tonto National Forest is requesting public comment on the Draft Report of the Engineering Evaluation Cost Analysis for the Phillips Asbesto Mines, Mill and Mining Camp Site, located in the Globe Ranger District. Deadline for all public comments on the matter is the close of business, Monday, July 15, 2013. Fischer said the purpose of this report is to present a detailed analysis of remediation ( cleanup ) alternatives that can be used for decision making. In addition, she said the analysis presented includes discussion of background information, waste characteristics, applicable or revelant and appropriate requirements, a risk assement, and the development and screeing of cleanup alternatives. Officials of the Forest Service have determined the Phillips site has environmental concerns related to asbestos. The recommended alternative for the site is to remove, relocate, and onsite encapsulation of asbestos containing mine waste/soil and building materials. The public is advised following this comment period, a final decision will be made and the decision will be documented in a Removal Action Memorandum identifying the alternative selected for the cleanup of the site. Copies of the EE/CA and Administrative Record are available at the Tonto National Forest Supervisor’s Office (2324 E. McDowell Road, Phoenix, Ariz.) and the Globe Ranger District Office (7680 Six Shooter Canyon Rd., Globe, Ariz.). This information is also available on the Tonto National Forest website at www.fs.usda.gov/tonto. Select “Forest Projects” under the “Quick Links” column on the right-hand side of the page.For questions concerning this process, please contact Anne Fischer at 602-225-5389. Ted Lake email@example.com RICK RENZI CONVICTED ON 17 FELONY CHARGES
JUNE 11, 2013 Former U.S. Congressman Rick Renzi who had tried to use his influence to include a large amount of Southern Arizona farm land owned by his business associate to be part of the proposed 2005 land exchange legislation for the new Resolution Copper Mine East of Superior has been convicted on 17 federal felony indictments . The jury which heard the testimony for the past several weeks in the Renzi corruption trial in U.S. District Court in Tucson reached the verdict shortly before 5pm yesterday (Monday). The case first went to the jury for deliberations on Thursday afternoon, June 7th. The U.S. Attorney’s Office issued the following press release after the jury’s decision was annunced in federal court: WASHINGTON – A former U.S. Congressman and a real-estate investor were convicted today by a federal jury in Tucson, Ariz., of conspiring together to extort and bribe individuals seeking a federal land exchange, announced Acting Assistant Attorney General Mythili Raman of the Justice Department’s Criminal Division and U.S. Attorney John Leonardo of the District of Arizona. Richard G. Renzi, 55, of Burke, Va., was found guilty of 17 felony offenses including conspiracy, honest services wire fraud, extortion under color of official right, racketeering, money laundering and making false statements to insurance regulators. James W. Sandlin, 62, of Sherman, Texas, was found guilty of 13 felony offenses including conspiracy, honest services wire fraud, extortion under color of official right and money laundering. Sentencing is set before U. S. District Judge David C. Bury on August 19, 2013. “Former Congressman Renzi’s streak of criminal activity was a betrayal of the public trust and abuse of the political process,” said Acting Assistant Attorney General Raman. “After years of misconduct as a businessman, political candidate and member of Congress, Mr. Renzi now faces the consequences for breaking the laws that he took an oath to support and defend.” U.S. Attorney John Leonardo stated, “Our democracy is undermined whenever our elected officials misuse the power entrusted to them by the voters to serve their own private interests rather than in the service of the public interest. The jury’s verdict reinforces the fundamental principle that our society is governed by the rule of law, and that no citizen, including the most influential and powerful among us, is above the law.” FBI Special Agent in Charge Douglas G. Price stated, “Today’s conviction is a culmination of the investigative efforts of the FBI and IRS-Criminal Investigation over a period of several years. Public corruption is one of the top criminal priorities of the FBI, and it is imperative that elected public officials be held accountable to uphold the public’s trust. The FBI remains committed to this criminal priority in combating public corruption at all levels.”
According to evidence at trial, Renzi, then a member of Congress from Arizona’s 1st Congressional District, promised in 2005 to use his legislative influence to profit from a federal land exchange that involved property owned by Sandlin, a real-estate investor. At the time, Sandlin owed Renzi $700,000 in future payments from their business dealings, and Renzi threatened a proponent of the land exchange that he would not support it unless they purchased Sandlin’s property in Cochise County, Ariz. When that individual refused, Renzi promised a second proponent of a land exchange that he would support the exchange if they purchased Sandlin’s property. According to an agreement reached in May 2005, Sandlin was paid $1 million in earnest money, out of which he paid $200,000 to Renzi. Just before Sandlin received the $1.6 million balance owed on the exchange, he paid an additional $533,000 to Renzi. Evidence at trial further showed that from 2001 to 2003, Renzi engaged in insurance fraud by diverting his clients’ insurance premiums to fund his first campaign for Congress, and he provided false statements to various state regulators who were investigating his activities. Renzi was indicted in February 2008, and in October 2008, Renzi moved to dismiss the indictment under his rights as a member of Congress under the Speech or Debate Clause. The court denied his motion in February 2010, and Renzi pursued an interlocutory appeal. After Renzi’s appeal was unsuccessful, trial was set for May 2013. Honest services wire fraud, extortion under color of official right, concealment money laundering and racketeering each carry maximum penalties of 20 years in prison. Conspiracy carries a maximum penalty of five years in prison, and making false statements to insurance regulators and transactional money laundering each carry maximum penalties of 10 years in prison. This case was investigated by the FBI and the Internal Revenue Service – Criminal Investigation. The prosecution was handled by Assistant U.S. Attorneys Gary Restaino and James Knapp of the District of Arizona and Trial Attorneys David Harbach and Sean Mulryne of the Department of Justice’s Public Integrity Section.
ADEQ HEARING ON CARLOTA PERMIT CHANGE
JUNE 11, 2013 The Arizona Department of Environmental Quality will be holding a public hearing later this month in the Town of Miami over a significant revision of the Arizona Quality Control Permit issued for the Carlota Copper mine located on 3,000 acres of U.S. Forest Service land west of Miami. KGHM International, the owner of the open pit copper mine, seeks to change its ADEQ permit to allow either water in sufficient amounts or chemical suppressants to be used on some 6.7 miles of unpaved roadways to control dust at the mine site. This public hearing conducted by the state agency will be Tuesday June 25 starting at 6pm in the Miami Senior Citizens Center. Ted Lake firstname.lastname@example.org COPPER SMELTER SHUTTING DOWN – FREEPORT MCMORAN MIAMI BRIEFS
JUNE 1, 2013 The copper smelter in Globe-Miami is shutting down but not for long. Freeport McMoRan says it has scheduled a temporary shut down of the Miami smelter this month to rebrick the furnace and perform routine maintenance. In addition, Freeport announced feasibility studies and final economic analyses for the Miami Smelter Sulfur Dioxide Compliance Project are expected to be completed by the third quarter of this year. This project, according to the company will ensure compliance with the new Environmental Protection Agency standards while allowing for an increase in throughput production. In a report during the first part of this year,, Bloomberg News said Freeport McMoRan may have to spend several hundred million dollars to modify its smelter operations here in Globe-Miami to meet the new EPA requirements which were upheld last January by the U.S. Supreme court. Educational grants are being offered by Freeport McMoRan to local school teachers as part of the company’s mini grants for education. Teachers can apply for up to $500 per project and should keep in mind the application deadline is October 30th. During the first quarter of this year, the company said its Miami operations contributed approximately $23,000 to on going community initiatives and projects including: Educational grants, youth development activities, crime prevention, youth safety awaren4ess and economic development programs. Ted Lake email@example.com DELIVERY RATES FOR COPPER SOARING
JUNE 1, 2013 Manufacturers and other companies in the United States that turn copper into wire, rods or tubes are now paying record fees to secure their copper supplies according to the Wall Street Journal. The publication said fees for immediate delivery of a ton of copper in our country have jumped as much as $198 in the past two months which is an increase of 40%. These fees are in additional to the per ton price of $7,300 for copper quoted on the London Metal Exchange last week. This cost is usually passed on by manufacturers of copper products to their customers. The Journal said the amount of copper held in London Metal Exchange warehouses has climbed 92% this year. The exchange has some 700 warehouses under license which are the world’s main repository for “spot market copper.” Ted Lake firstname.lastname@example.org LAND SWAP HEADS FOR FULL HOUSE VOTE
MAY 20, 2013 After passing the House Natural Resources Committee last Wednesday by a vote of 23 to 19, the proposed Resolution Copper land exchange legislation H.R. 687 heads before the entire U.S. House of Representatives for a full vote. The bill needed to pave the way for the $6 billion dollar underground copper mine East of Superior is being placed on the “House Calendar ” and it will be up to the Speaker of the House to decide when this vote will actually be taken. Arizona Democratic Congressman Raul Grijalva of Tucson who is also on the Natural Resources Committee voted against the land exchange measure which was introduced jointly by Democratic Congresswoman Ann Kirkpatrick and Republican Congressman Dr.Paul Gosar, both of Arizona. Grijalva also tried to place additional delays and restrictions on the mine project by making three amendments to H.R. 687, all of which were voted down by the committee including a full NEPA environmental review of the project before the exchange of some 2,400 acres of Tonto Forest land could ever take place. Without NEPA, some fifty governmental agency permits are already required before the the Resolution Copper Mining Company could ever begin producing copper which is projected to be around 2024. After the Natural Resources Committee passed HR 687 last week Congresswoman Ann Kirkpatrick said she was pleased to see the bi partisan jobs bill move forward. ” I am optimistic this bill is going to pass the House of Representatives, but there is more work to be done with our colleagues in the U.S. Senate. I will continue to provide a voice for the mining companies, tribes and environmental groups in my district who have many prospectives on the Superior Mine project,” she remarked. Congressman Paul Gosar said this land exchange and conservation bill he and Representative Kirkpatrick had worked together on is the direct result of years of negotiations and it has been an open process and common vision amongst its supporters to bring good jobs to Arizona. Gosar, who also is on the Natural Resources Committee, voted in favor of the bill. Three other Congressman on the committee, all Democrats who voted against HR 687, each submitted amendments to the Resolution Copper land swap which were voted down. There were Representatives Tony Cardenas of California, Peter DeFazio of Oregon, and Grace F. Napolitano of California. Congressman Makwayne Mullin of Oklahoma, who is a member of the Cherokee Nation, was the only Republican on the committee to vote against the Resolution Project While the Natural Resources Committee last passed H.R. 687 ( Southeast Arizona Land Exchange and Conservation Act of 2013 ), Bruno Hegner, former Vice President of Resolution Coppr was testifying before a federal jury in Tucson about problems he encountered with former Republican Congressman Rick Renzi with the proposed land exchange legislation back in 2005. Hegner is a witness in the alleged corruption and extortion trial of Renzi now underway in U.S. District Court in Southern Arizona. Hegner, according to accounts in the Arizona Republic , alleges that former Congressman Renzi made it clear he would only support the Resolution Land Swap measure of 2005 if it included an alfalfa farm in southern Arizona owned by Renzi business associate James Sandlin, who is also on trial in this case . Hegner said he repeated, ” No Sandlin property, no bill.” The trial is expected to take two months. Ted Lake email@example.com OAK FLAT CAMPGROUND LAND TITLE FACTS
MAY 16, 2013 The Resolution Copper Company has published the following information about the land status of the Oak Flat area east of Superior which is fee title land owned by the U.S. Government/Tonto National Forest based on the current official records of the U.S. Bureau of Land Management and actions of record in the Federal Register
. RESERVING LANDS WITHIN NATIONAL FORESTS FOR USE OF THE FOREST SERVICE AS CAMPGROUNDS, RECREATION AREAS AND FOR OTHER PUBLIC PURPOSES”. The lands were
“withdrawn…from all forms of appropriation under the public land laws, including the mining but not the mineral leasing laws, and reserved for use of the Forest Service, Department of Agriculture, as camp grounds, recreation areas, and for other public purposes, as indicated“.
Part of routine withdrawal package
: The Oak Flat withdrawal was part of a package of 24 campground, fire lookout, picnic and recreation area withdrawals in the Tonto and Coconino National Forests in Arizona. It was accompanied by 19 similar withdrawals for campgrounds, lookout sites, and other purposes in the Apache National Forest in New Mexico.
: In response to a question about the Oak Flat withdrawal asked by Congressman Grijalva at the November 1, 2007 hearing on H.R. 3301 (a predecessor bill to the current H.R. 687 and S.B. 339, Deputy Forest Service Chief, Joel Holtrop, indicated:
Mr. HOLTROP: “The mineral withdrawal at that time was done to protect the Federal Government’s interest in the capital improvement of the campground that exists there.”
Withdrawal reason reiterated
: At the November 1, 2007 hearing, Congressman Rob Bishop also asked about the Oak Flat withdrawal. Mr. Holtrop gave the same answer. Namely, that where the Forest Service makes improvements in facilities such as campgrounds, recreation sites, etc., “it is not uncommon” to protect those investments by withdrawing them from the operation of the mining laws.
1971 withdrawal modification
: On September 20, 1971, the “Oak Flat Picnic and Campground” withdrawal was modified by Public Land Order 5132 signed by Assistant Secretary of the Interior, Harrison Loesch. The new order stated that the 1955 Public Land Order 1229 was:
“hereby modified to the extent necessary to open the following described lands to all forms of appropriation under the public land laws applicable to national forest lands, except under the U.S. mining laws….the lands described in paragraph 1 will be open to such forms of disposal as may by law be made of national forest lands except appropriation under the U.S. mining laws.”
Ted Lake firstname.lastname@example.org LETTER TO EDITOR
Current status of Oak Flat withdrawal
Since 1971, the 760-acre “Oak Flat Picnic and Camp Ground” area has been eligible for disposal by land exchange and other disposal authorities of the Forest Service
MAY 10, 2013 This is a Response to Terry Rambler, Tribal Leader, San Carlos Apache Reservation about Oak Flats Issue Read Here Ted Lake email@example.com $2 MILLION PAID FOR COPPER DEPOSIT UNDER MIAMI – FINALLY: COPPER FOX ACQUIRES VAN DYKE LAND
MAY 5, 2013 The 1,100 acres of the historic Van Dyke properties nd mineral rights in, around and under the town of Miami are now owned by another Canadian company. Elmer Stewart, President and Chief Executive Officer of Calagary based Copper Fox Metals, says his company has now acquired 100% of Bell Resources interests in the Van Dyke copper deposit in the town of Miami. Bell Resources is a subsidiary of Bell Copper Corporation of Canada. Under the terms of the acquisition, Copper Fox acquired the Van Dyke Deposit by paying Bell Copper $500,000 in cash, paying to the vendors of the Van Dyke Deposit $1.5 million and assuming the continuing obligations in respect of the Van Dyke Deposit, subject to certain amended terms and conditions. The vendors were Bennu Properties , Albert W. Fritiz Jr and Edith Spencer Fritz. In making the announcement Stewart said “The acquisition of the Van Dyke Deposit adds another significant under explored copper asset to his company. The historical work completed on this deposit including resource estimation, preliminary in-situ leaching test work and an economic evaluation, all completed on or before 1981 yielded positive results. The historical information also suggests possible extensions of the copper mineralization at depth and along strike.” Copper Fox Metals listed the following information known about the copper ore deposit under the town of Miami. Highlights:
A number of historical studies have been completed on the Van Dyke Deposit between 1973 and 1981 y Occidental Minerals Corporation (“Occidental”), AMAX Mining and Utah International , all large copper producing companies at that time, A historical estimate of 119.2 million tons of oxide copper mineralization with an average grade of 0.52% copper (estimated to contain 1.2 billion pounds of copper) prepared by Occidental in 1976 is reported for the Van Dyke Deposit, Diamond drilling on the Van Dyke deposit indicates several extensions including the reported existence of primary sulphide copper mineralization below and to the east of the oxide mineralization, and Preliminary in-situ leaching metallurgical test work indicated copper recoveries up to 80% using hydrofracturing to improve fluid circulation. The Van Dyke property was developed in the early 1900′s and is reported to have produced 11.8 million pounds of copper between 1929 and 1945 from copper oxide mineralization with a reported grade of 5.0 % copper. Between 1968 and 1980, Occidental held the property. During that time a total of 70 exploration holes (sixty-two of which encountered measureable copper mineralization) were completed on the Van Dyke property from which 46 were used to estimate a historical resource. Between 1973 and 1976, four historical estimates were completed on the Van Dyke oxide copper deposit by major copper producing companies such as Occidental, Amax, and Utah International. The historical estimates range from 103,000,000 tons grading 0.53% copper (Occidental) to 140,858,000 tons grading 0.40% copper using a 0.20% copper cutoff. A polygonal method was used to complete two of the historical resource estimates and cross-sections were used for the balance of the historical estimates. Copper Fox Metals has a corporate office in Calagary and an operations operations office in Vancouver. Its major assest is the Schaft Creek Copper, Gold and Molydenum and Silver Deposit located in Northwester British Columbia, Canada. During the latest quarterly report released on Janaury 31st of this year, Copper Fox Metals had a loss of $525,595. On April 8th of this year, the company announced the closing of a non brokered private placement of financing which resulted in net proceeds of $2,653,000. Ted Lake firstname.lastname@example.org WHAT’S HAPPENING AT OUR COPPER MINE PROJECTS
MAY 2, 2013 Carlota Copper Mine, owned by KGHM International of Poland will stop producing Sulfide Copper this summer and will focus entirely on reclamation work ( restoring the 3,000 acre former mine site which consist of company lode mining claims filed on U.S. Forest Service lands, mainly the Eder Claim Group and others.) There was a $10 million reclamation bond put up earlier for this work with the U.S. Forest Service by the previous owner, Quadra Mining. The information I have is that Carlota which had 250 employees two years ago has less than 50 workers today. Freeport McMoRan Copper and Gold, Inc plans to stop mining at it’s restarted Miami open pit operations at the end of 2016 because the supply of mine-able copper ore is expected to run out. The present ore is low grade about one half of one percent. In a community report several weeks ago, Freeport said it plans to help place workers who were at the Miami mine into other jobs when the mining ceases. I believe we are talking about 400 or so jobs. The Miami mine had only a projected life of five years. Freeport McMoRan did announce last week it will revamp the Miami Smelter to meet new EPA regulations upheld in January by the U.S. Supreme Court. But they have released no further information at this time. The smelter project could be in the hundreds of millions of dollars, which will bring a temporary influx of construction workers to the community but will probably not have much of an increase in regular employees. We will have to wait and see what the company says in the future about this project. Right now at the smelter, the rod plant, the Miami mine and also with ongoing reclamation work there are some 1,000 persons working at the company’s local operations. Resolution Copper has cut back on everything and announced in December a 400 worker lay off with only 100 employees remaining in April. I have seen no new job announcements from Resolution Copper since last December. Rio Tinto, owner of Resolution is selling off a number of assets primarily in their aluminum and diamond mines in an effort to offset a $14 billion dollar write off which has gotten stockholders outraged and the former Chief Executive Officer was immediately fired and not given a severance package when he announced the huge write downs of billions of dollars. BHP Billiton Pinto Valley Mine, which the company said had a projected life of 5 years, is providing jobs for 685 workers. However, BHP announced last Sunday it was selling Pinto Valley to Capstone Mining of Canada for $650 million and the deal was expected to close in a few months. Capstone has released figures on the remaining deposits of copper and other ores at Pinto Valley, however, their figures were only for a five year period. The Pinto Valley Mine is one of 10 properties BHP has up for sale for the purposes of bringing in capital to deal with their enormous problem of write downs amounting to billions of dollars. Their long time Chief Executive Officer has taken early retirement and will step down May 10th apparently because of this situation. The other properties up for sale have not been identified to date. All Pinto Valley employees will become employees of Capstone Mining, based in Vancouver. Pinto Valley’s copper ore body is also low grade about one half of one percent. ASARCO Hayden Ray presently employs 1,401 persons and has job openings for 57 persons. The Ray mine apparently has a life of more than 25 years. The issue regarding the future of some of ASARCO’s operations centers around the Smelter at Hayden in Southern Gila County. The smelter falls under the new stricter EPA regulations upheld in January by the U.S. Supreme Court. Grupo Mexico, owner of ASARCO, was involved in the Supreme Court case . The company told the court to revamp it’s Hayden smelter would cost $1.2 billion dollars and this was not affordable. ASARCO would not issue any comments after the Supreme court ruling. Grupo Mexico, does own a copper smelter in Mexico’s Sonora state south of Douglas, Arizona. ASARCO had a land exchange in the works seeking title to some 11,000 acres of U.S. government lands around its operations at Ray and Hayden it wanted for it copper mining operations. However, that was shot down in the U.S. of Appeals in San Francisco in a challenge to that land swap that was filed by the Center for Biological Diversity and several other environmental organizations. ASARCO is Gila county’s largest taxpayer and that is attributable in part because of the assessed values placed on the company’s smelter in Hayden. Ted Lake email@example.com KEY OPPONENT OF SUPERIOR MINE WAS AT LONDON STOCKHOLDERS MEETING
May 1, 2013
A key opponent to the $6 billion Resolution Copper Mine project, The Arizona Mining Reform Coalition, said its Director, Roger Featherstone of Tucson, was in attendance at the recent annual general meeting of Rio Tinto Stockholders held in London. Featherstone, it was reported, complained to the company’s board of directors about the land exchange now in the U.S. Congress needed to pave the way for Rio Tinto’s proposed underground mine east of Superior. In part of his statement to officials of Rio Tinto, Featherstone said: “You have tried to bypass the normal permitting process with your special interest bill 11 times and have failed. Yet you persist in trying to yet another time which only wastes time and money both for your company and our communities.” “You say that you will only mine after receiving the free, prior, and informed consent of local people that would be impacted by your proposed project before moving forward. However, in this case, you have not and cannot receive the free, prior, and informed consent of local people without first writing your mining plan, and yet you continue to pressure the U. S. Congress and others to give you this precious piece of public land.” In response to Featherstone’s remarks, the Arizona Mining Reform Coalition said Chief Executive Officer Sam Walsh only provided a message to Director Featherstone ” that was nothing more than Rio Tinto’s standard talking points, so this could be expected . Still some shareholders were clearly disturbed that Rio Tinto is not following the rules ( in its Resolution Copper Project ) and want to know more about the Oak Flat situation. Besides opposing the Resolution Copper project near Superior the Arizona Mining Reform Coalition and its Director Roger Featherstone have been involved in trying to stop the development of the proposed Rosemont open pit copper mine 30 miles South of Tucson in the Santa Rita Mountains. Members of the Coalition, consisting mainly of environmental organizations are: Earthworks Center for Biological Diversity Grand Canyon Chapter of the Sierra Club Concerned Citizens and Retired Miners Association Dragoon Conservation Alliance Empire-Fagan Coalition Groundwater Awareness League Maricopa Audubon Society Save the Scenic Santa Ritas Sky Island Alliance Featherstone has also been the Southwest Campaigner/Circuit Rider for the environmental group Earthworks in working to protect communities and the environment of the West from the impact of hard rock mining since 2004 according to one source. Featherstone is also the founder and current President of the Mount Graham Coalition, Inc which has opposed the existence of the Mount Graham International Observatory consisting of three telescopes operated by the University of Arizona in Tucson. The Coronado National Forest first issued the permit for the Observatory in 1989. The permit came up for renewal two years ago with protests lodged against renewal by Featherstone and the Mount Graham Coalition, Inc along with officials from Center for Biological Diversity in Tucson who were raising environmental issues about the effects the telescopes were having upon the high mountain top.. Another organization, the Apache Cultural Survival Coalition in which former Tribal Chairman Wendsler Nosie Senior, now a Tribal Councilman, was a member, was also protesting the re-issuance of the telescope operating permit. This Apache group was claiming the 10,713 high Mt Graham and surrounding mountain areas located southwesterly of the City of Safford were considered by Apaches to be the sacred mother-seated mountain in southeastern Arizona. Safford is a community whose economy relies on copper mining, farming, Eastern Arizona Community College and tourists. During the period when it was first publicized the permit for the operations of the three telescope was coming up for renewal, Noise told the San Carlos Apache Moccasin Newspaper ” I can’t believe that the University of Arizona and the U.S. Forest Service would continue to desecration of our sacred land…….It is part of the livelihood of our young Apaches. This sacred mountain has been there since time immemorial and they have destructed it with all their bulldozing while putting up the telescopes.” ” Our people still travel up to the mountain to get holy water and herbs which are traditional medicine to us.” Just how much of this area is Nosie claiming as the original Apache Holy Lands? The entire Pinaleno Mountain Range which this huge mountain in Eastern Arizona lies within consists of 300 square miles of lands belonging to the U.S. Forest Service and U.S. Bureau of Land Management.Is this what he andother Apache Leaders are talking about, an entire mountain range of some 19,000 acres? In addition, during the past some six years , Nosie has publicly claimed and continues to claim the Oak Flat East of Superior in addition to Devils Canyon to the East, more than 2,000 acres, were the original sacred lands of the Apaches. Both are sites are fee title lands of the Tonto National Forest. Is it really an issue of Holy/Sacred Lands, or an attitude problem on the part of some San Carlos Tribal Leaders against their neighboring copper mining communities? Read some of the statements included in a letter sent by the San Carlos Apache Tribe dated April 29, 2009, to the Supervisor of the Tonto National Forest. It was allegedly signed that year by San Carlos Apache Tribal Chairman Wendsler Nosie Senior and Vernelda Grant, who was Director of the Tribe’s Preservation and Archeology Department who researches Apache Sacred Land sites. The letter was the tribe’s response to Resolution Copper’s Mining Pre-feasibility Plan of Operations Environmental Assessment which had been filed to the Tonto National Forest. The interesting part in the Tribe’s letter from Nosie and Grant is where it states: “Apaches have traditionally opposed large-scale mining, and the Tribe opposes large-scale mining to this day……Mining is inconsistent with our conservative traditional Apache values. We have been taught to respect the natural world, and keep it clean and natural.” ” In pre-reservation days, rape was punishable by death, the victim’s relatives exacting justice from the perpetrator. When our ancestors saw disrespectful miners raping Nigosdzan ( “Earth is Woman”) , they responded harshly in a proper, traditional manner. They viewed many of the early White settlers, especially miners, as filthy savages who destroyed the natural world wherever they went through mining, overgrazing, over-hunting, or by dirtying the land with their garbage and indiscriminate human waste. Our ancestors found these activities shocking and dangerous.” And this is coming from the San Carlos tribal agency and the San Carlos Apache Tribal Chairman who were determining what “Holy Lands” and” Sacred Sites” were to be claimed by the Apaches. The large amounts of areas they are proclaiming as sacred lands are on huge amounts U.S. government lands located on the outskirts of several nearby copper mining communities in Eastern Arizona in which one area happens to be a proposed site for a new $6 billion underground copper mine. By the way, latest information on the U.S. Forest Service permit needed to allow the continued operation of the three mega million dollar telescopes on Mt Graham by the University of Arizona, including one telescope belonging to the Catholic Church: Although the permit expired some two years back, it has not been renewed. We were told last month the Forest Service is still going through the renewal process. Even though the original permits have long expired and the Mt. Graham International Observatory continues to operate. The 10,000 foot plus high telescopes reportedly valued at nearly $200 million Ted Lake firstname.lastname@example.org PRESS RELEASE…ARIZONA DEPARTMENT OF PUBLIC SAFETY ASARCO Copper Mine Theft Investigation Led By The Arizona Department of Public Safety (DPS) Leads To 18 Grand Jury Indictments April 30, 2013
Indictments with 136 felony counts stem from investigation that began in late 2012. Starting in late 2012, DPS Criminal Investigations Division detectives began investigating a large and complex criminal syndicate suspected of stealing enormous amounts of copper from the ASARCO mine in Hayden, Arizona. Several copper anodes (blanks) were confiscated from a tractor trailer destined for California. The anodes were mined and stolen from the ASARCO mine. Thefts began as far back as 2006 and totaled $10 million worth of copper. Most of the stolen copper was sent to a scrap metal yard in California prior to being shipped to international destinations. Two employees of ASARCO mine are part of the 18 grand jury indictments. RENE JOE ARBIZO and GENE CARLO GARCIA were supervisors at the mine and played critical roles in the thefts. Both Arbizo and Garcia face 10 felony counts each as a result of this investigation. The remaining 16 suspects face a numerous charges to include Illegally Conducting an Enterprise, Conspiracy, Money Laundering, Fraudulent Schemes and Artifices, and Theft. DPS Captain Ryan Young said, “I am extremely proud of DPS and the cooperation of all agencies involved in this international investigation”. Below is a list of the suspects and their role in the thefts: RENE JOE ARBIZO, supervisor at ASARCO; all counts, warrant issued GENE CARLO GARCIA, supervisor at ASARCO; all counts, warrant issued LILLIAN CAMPOS, former contract security guard at ASARCO; all counts, warrant issued AVELINO RUBAL, transportation ROBERT ELKINS, transportation CALEB ELKINS, transportation QUENTIN ELKINS, transportation ANGELA RUBAL, transportation FRANK GARCIA DUARTE, employee of Desert Metals Recycling (Desert Metals is not involved) TODD KENNEDY, truck driver WILLIAM STEVENS, truck driver ALLEN NICHOLS, truck driver CHUN CHEN PEDROZA, New Star Services employee in Upland, CA, warrant issued JOANNE HU, New Star Services owner in Upland, CA. currently in Taiwan, warrant issued CHIHCHAN LIN, New Star Services owner in Upland, CA. Currently in Taiwan, warrant issued MARCOS GALLEGO, owner of Mariposa Recycling / RECYCO INC. Tucson and Nogales JESUS MARIANO LUNA VAZQUEZ, supervisor at Mariposa Recycling in Nogales LOUIS ERNESTO GALLEGO, relative to Marcos Gallego, introduced Rubal to Vazquez Ted Lake email@example.com THE BACK STORY – ASARCO COPPER THEFT NETS MORE THAN $10 MILLION
April 23, 2013 Detectives from the Arizona Department of Public Safety issued a startling press release last week revealing they now believe the on going thefts of copper anodes at ASARCO’s operations at Hayden first begain in 2006 while the company was in bankruptcy proceedings and to date may have reached more $10 million.. The good news is some of the alleged stolen copper from ASARCO reportedly sent to China as scrap copper has been recovered by investigators. Here are the latest statements from the state police agency in their investigations into these alleged huge copper thefts that occurred at Hayden where the company operates a smelter and concentrator. “On April 16, 2013, the Arizona Department of Public Safety’s Criminal Investigation Division and Commercial Vehicle Enforcement Bureau served two search warrants in the ongoing copper theft investigation involving the ASARCO Hayden mine. The initial investigation began in September 2012 when it was discovered that a group of people were acting in concert to steal large amounts of copper anodes from Hayden. At that time it was believed that approximately 700 anodes were stolen of which DPS recovered 488. It appeared the thefts had begun around April 2012.” ” Lead Detective James Oien’s investigation has discovered the copper thefts could have begun as early as 2006. He has identified three possible exporters of the stolen copper which could now be in excess of $10 million dollars. The search warrants were served on other local recycling companies which may have retained records of these previous transactions. Those businesses involved include: Mariposa Recycling in Nogales, Ariz., and its parent company Recyco Inc. located in Tucson.” NEW MINE SOUTH OF ARIZONA BORDER
April 23 2013 A company from Canada is proposing a new open pit copper mine in Sonora, Mexico just south of the Arizona Mexico border located about 20 miles southeast of Nogales In discussing its new El Pilar Mine Project, Vancouver based Mercator Minerals Ltd said it recently completed a technical data study. That report, according to the company , indicates the project in Northern Mexico is robust, low risk and will have a high return producing over 79 million pounds of copper cathode annually over a 13 year life of the mine, producing 85.4 million pounds annually during the first five years. Necessary capital needed to developed the mine was estimated at $280 million. For the first five years, the study estimated the cost to produce a pound of copper would be $1.22 . Construction time need to develop the mine for copper production was estimated at 15 months Ted Lake firstname.lastname@example.org FREEPORT PRODUCTION FIGURES AT AZ MINES
April 22, 2013 In its latest quarterly financial report, Phoenix base Freeport McMoRan Copper and Gold released copper production figures for its five operating mines in Arizona. The Morenci mine was the top producer for the 90 day period at 138 million pounds of Copper. Bagdad followed with 49 million pounds, Sierrita 44 at million pounds, Safford followed with 31 million pounds and the Miami mine here locally produced 14 million pounds. For all of its mining operations in this country and globally, Freeport had consolidated sales of copper for the quarter ending March 30th for 954 million pounds of copper, 214 thousand ounces of gold and 25 million pounds of molybdenum. For the entire year 2013 the company is projecting it will sell 4.3 billion pounds of copper, 1.4 million pounds of gold and 92 million pounds of molybendum. Profits for the first quarter of this year were down 15% from last year with profits of $648 million compared to $764 million at this time last year. First quarter cash flow was listed at $831 million and it was projected exploration costs for this year would reach $235 million. Stockholders were told the company completed $10.5 billion in debt financing associated with the acquisition of Plains Exploration and Production company and McMoRan Exploration Company. James R. Moffett, Chairman of the Board and Richard C. Adkerson, President and Chief Executive Officer said the first quarter results reflect the company’s focus on strong and safe production, aggressive cost management and advancing financially attrative projects to grow our copper production, increase cash flow and provide strong returns for stockholders. Ted Lake email@example.com CARLOTA TO STOP MINING SULFIDE COPPER
All mining of copper sulfide ores at the Carlota Copper Mine is expected to stop this summer according to the latest information released by Polish based KGHM International , which is the owner of the open pit mine west of the Town of Miami. In its Management Analysis for the Year 2012 and Fourth Quarter of 2012 released last week, KGHM said the Carlota continues its mine-for-closure plan in 2013 with waste material to be placed as capping on the Grizzly waste stockpile. Third party engineer studies of various closure components continue with ” plans in place to commence the pit back-fill upon completion of mining of the sulfide ores by mid year (2013).” The report went on to say “Carlota continues to design and implement a mine-closure plan which uses current mining operations to optimize cash flow while advancing activities related to winding down of operations. Normal operations continue utilizing mining to advance concurrent reclamation activities using existing man power and equipment to minimize long term environmental impact.” Canada’s Quadra FNX Mining, previous owner of the Carlota, had obtained a $10 million dollar bond for the purpose of assuring government regulators that a proposed site reclamation plan for mine close out was followed. The Carlota site consists of lode mining claims which were located on some 3,000 acres of Tonto Forest Lands with the company apparently not owning outright any fee title lands. The Carlota, which cost some $240 million to develop, has a present full cash value of $5,466,750 for the tax year 2013 according to information from the Arizona Department Revenue Property Tax Division Centrally Valued Properties Unit. Freeport McMoRan Miami’s Centrally Valued Property Mine Operations in the Miami area, according to the state agency, have a full cash value for the tax year 2013 at $53,851,728. However, that is expected to drop after 2016 when Freeport halts mining at its Miami Mine open pit. Freeport said recently that it expects to complete a 1,000 acre ongoing reclamation project on its Miami properties next year. The company also stated in a report to the community that on going activities at Freeport Miami “beyond 2016 include reclamation, residual leaching and smelting.” Contrary to the situation with the Carlota, Freeport McMoRan Miami owns outright( fee title ) most of the lands it has its local mining operations on although there are a few mining claims on government lands. KGHM announced last week the Carlota mine had a total profit of $16.3 million in 2012, and during the last quarter of the year it made a profit of $6.1 million. This compares with a loss of $196.9 million during 2011. Average cost of producing copper in 2012 was $2.70 a pound compared to $3.04 a pound the previous year. During 2012 the state run company said some 22.9 million pounds of copper was recovered from the Carlota compared to 23.6 million pounds the previous year. Two years ago, Carlota reached its employment peak of some 250 workers and today reportedly has less than 50 workers.. Overall, from all of its mining properties in Poland ( where the company also operates a smelter ), Canada, South America and the United States ( Carlota, Miami, Arizona and Robinson Mine, Ely Nevada ). KGHM’s income in 2012 increased $330 million from a loss of $145 million in 2011. Total production of copper last year was 244 million pounds and 95 thousand ounces of precious metals. Total net revenue for 2012 was $1,385 million up 25% over 2011. And at the end of the year, December 31, 2012, the company had $537 million in cash on hand. Start up costs for its Sierra Gorda Copper mine in Chile were reported at $3.9 billion in which KGHM’s Japanese Partner, the Sutomoto Corporation, was sharing in cost for this South American project. KGHM is the 10th largest global producer of copper.. Ted Lake firstname.lastname@example.org TOTAL WORK FORCE WILL BE 684 PINTO VALLEY HIRES 207 MORE
Officials of BHP Billiton say the company’s Pinto Valley mine west of the town of Miami has hired 207 more employees since January 16. This now brings the total full time work force at the open pit copper recovery operation to 607. BHP’s goal is to have a total of some 684 persons employed here. However, there are 77 job positions still to be filled for electricians, heavy duty mechanics, truck drivers and a few others. Persons interested in these current job opportunities, which must be applied for on line, can get more information by going to careers. bhpbilliton.com
. Then, click on North America, US-Arizona-Miami. The Pinto Valley copper mine is a $190 million restart project launched by Melbourne based BHP Billiton more than a year ago which began producing copper once again last December. The expected life of the mine is five years according to the company Ted Lake email@example.com PACHES HAVE BEEN CLAIMING OAK FLAT AND MT GRAHAM AS THEIR ORIGINAL HOLY LANDS
Four U.S. cabinet-level departments have joined the Advisory Council on Historic Preservation in releasing an action plan to strengthen the protection of Indian sacred sites and provide greater tribal access to these heritage areas. This announcement came from the U.S. Department of Interior which said the move was part of President Obama’s commitment to honoring a nation-to nation relationship to Indian Country. Involved in this new Memorandum of Understanding about coordination and collaboration for the protection of Sacred Sites claimed by Native American groups are the U.S. Departments of Agriculture, Defense, Energy, Interior along with the Advisory Council on Historic Preservation Here in our part of the state, San Carlos tribal leaders for the past seven years have been claiming the Tonto Forest lands for Resolution Copper’s $1.6 billion underground copper mine at Oak Flat and adjoining areas East of Superior have always been the sacred and original lands of the Apaches. In addition, there are San Carlos community leaders and activists who continue to claim Mt Graham, also on National Forest Service land near Safford , as Apache sacred grounds in which some $200 million in telescopes were and are being used by the University of Arizona and the Catholic Church. Wendsler Nosie Senior, former Tribal Chairman , has been the most outspoken leader on the reservation about Apache sacred religious sites on U.S. Forest Lands being damaged and not properly protected by the federal government. Nosie, who was defeated in last tribal council general election when 80% of the voters cast their ballots for someone. However, in a later election he was selected as a a Tribal Councilman for the Peridot District. He has been active in the past in the management of the Apache Gold Casino and presently operates a newspaper at Peridot Just last month, Wendsler Nosie Senior, stated basically what he has been saying for the past several years, and that is; the proposed 7,000 foot underground Resolution Copper mine at Oak Flat “will destroy a sacred site that forever will be lost to the Native Americans in this region.” Our Sacred site, he claims, is no different than Mount Sinai or any other sacred site in the world that holds values in religious practice that God bestowed upon the people in the beginning. As far as the handful of telescopes erected among the trees on Mt Graham being used by the University of Arizona and the Catholic Church for research, Nosie has been opposed to their existence from the start. While serving as Tribal Chairman, he said ” I can’t believe the University of Arizona would continue the desecration of our sacred land…….This Sacred Mountain has been there since time immemorial and they have destructed it with all their bulldozing while putting up telescopes. Our people still travel up to the Mountain to get holy water and herbs which are traditional medicine to us.” This new Action Plan announced last week by the Obama Administration includes a Mission statement which commits the four federal agencies to work together and to improve the protection of tribal access to Indian sacred sites in accordance with Presidential Executive Order 13007. U.S. Secretary of Interior Ken Salazar, said his agency’s staff plans to provide a report on the ”Listening Sessions’ sponsored by the federal government which were held across the country to elicit tribal and spiritual leaders concerns regarding sacred sites. Such a session was held some time back in our state where San Carlos political and community leaders along with reservation residents came out in force to give their viewpoints about Apache Sacred sites on government Forest Service Lands. However, federal officials sponsoring the listening session didn’t invite outside input from the leaders and citizens of non Indian communities adjacent to the San Carlos Apache Reservation who have enjoyed these same federal lands along with their parents and grandparents some who were early pioneers of these same communities dating back to when Arizona first became a territory. Globe, Miami, Superior and nearby areas have some long time residents out there who have strong convictions about these alleged claims by San Carlos tribal leaders, particularly that Oak flat had always been used as Apache holy lands for religious ceremonies. Some have been telling us they don’t believe the Apache claims are true and point out for many years they, along with their families and friends, made regular visits to Oak Flat for outdoor recreation enjoyment ….but never observed over the past years ( before the new copper mine announcement was made) any traditional or holy Apache ceremonies taking place there or a regular basis as claimed by San Carlos leadership in trying to stop this proposed 1,400 employee underground mine that has a projected life of 35 years or more. The Oak Flat recreational area is U.S. government property owned by the Tonto National forest located some 35 miles away from the community of San Carlos. Oak Flat and Mt Graham were never included in the original agreement with the U.S. government in the in the creation of the San Carlos Apache Reservation. It was around 2004 when Resolution Copper first said it was considering its new mine at Oak Flat And, then first known public claim that the propose mine site had always been used as ” Sacred Lands” by the Apaches and for picking acorns was made. It came during the year 2005 as a San Carlos Tribal Council Tribal Council Resolution presented at a public hearing held by a Senate Committee back in Washington. The Senate committee hearing was on the first proposed Resolution Copper land exchange bill which later died in Congress. Ted Lake firstname.lastname@example.org NATIVE AMERICAN GROUPS AGAINST RESOLUTION MINE Ted Lake email@example.com OAK FLAT AND PUBLIC LAND ORDER 1229
It was President Harry S. Truman who signed Presidential Executive Order 10355 on May 26, 1952. This order from the White house delegated the U.S. Secretary of Interior the Authority of the President to Withdraw or Reserve Lands of the United States for Public Purposes in the future. On September 27, 1955, in citing President Truman’s Executive Order 10355, it was Assistant Secretary of the Interior Fred G. Aandahl, who issued Public Land Order 1229. What Public Land Order 1229 did was to serve notice to the general public and in the public BLM land records the U.S. government had now imposed new regulations and restrictions on 22 existing campgrounds, recreational areas and mountain lookout sites which were located in the national forests in Arizona. There were 19 in the Coconino National Forest and and the remaining 3 were in the Tonto National Forest . In the Tonto, these were the 93.20 Acre Jones Water Camp North of Globe, the 760 acre Oak Flat Picnic and Campgrounds East of Superior, and the 110 acre Pioneer Pass Picnic Grounds south Globe. Basically what the action taken by the Assistant Secretary of the Interior Andahl did that year was to prohibit the location or staking of any lode mining claims in all of the 22 national forest owned areas disclosed in the legal descriptions in Public Law 1229. However, the door was apparently left open to allow the U.S. government itself to possibly lease mineral rights even though these areas were withdrawn from “public” mineral entry. Executive Order 10355 or PLO 1229 did not contain provisions allowing any of these public campgrounds/recreational areas/look out sites, etc to be shut off from the general public for private religious purposes, or other private events. However, it was was on May 11, 2012, when the Tonto National Forest headquarters in Phoenix issued a statewide news release announcing the entire 760 acre Oak Flat Campground was to be closed off to the public. This was to be effective May 12 through Tuesday May 22nd and the purpose was for for San Carlos Tribal Activities. The Tonto Forest website said Oak Flat was closed to the general public because Gilbert Zepda, Deputy Regional Forester had issued Order 12-12-022 per 36 CFR &261.53(g) prohibiting unauthorized persons from entering Oak Flat for a 10 day period to protect the privacy of tribal activities for traditional and cultural purposes. When the Assistant Secretary of Interior Aandahl issued Public Land Order 1229, all 22 existing sites here in our state had the same identical restrictions and reservations imposed. None of the areas were treated any differently from the others. He is what Anadahl said in his order that applied to all 22 locations in the Tonto and Coconino Forests: “ The following-described public lands…….are hereby withdrawn from all forms of appropriation under the public land laws, including the mining, but not the mineral-leasing laws, and reserved for use of the Forest Service, as campgrounds, recreation areas, or for any public purposes as indicated.” The 19 sites affected by this order in the Coconino National Forest are: The Bakers Butte Lookout Site, Buck Mountain Lookout Site, Hutch Mountain Lookout Site, Lee Butte Lookout Site, Mormon Lake Lookout Site , East Pocket Knob Lookout Site, Turkey Butte Lookout Site, Woody Mountain Lookout Site, Mt Elden Lookout Site, Saddie Mountain Lookout Site, Deadman Lookout Site, the 120 acre T-6 Springs Recreation Area, O-Leary Peak Lookout Site, the 40 acre Lava River Cave Campground, the 39.97 acre Dairy Spring Campground, the 29.3 Acre Double Spring Campground, the 40 acre Kehl Spring Campground, 123.75 acre Knob Hill Administrative Site, the 162.44 acres General Spring Guard Station. All of the lookout sites are 40 acres in size. The order also covers a strip of land 200 feet on each side of the center line of Federal Highway 9-K in the northern part of the Tonto National Forest in Townships 9 and 10 North Range 10 East. There was a modification of Public Land Order 1229. It was Public Land Order 5132. It was issued on September 20, 1971 by Harrison Loesch who was the Assistant Secretary of the Interior at that time which said: “Public Land Order 1229….is hereby modified to the extent necessary to open the following described lands to all forms of appropriation under the public land laws applicable to national forest lands, except under the U.S. Mining laws.” And then Loesch listed the three campgrounds in the Tonto National Forest , which were Jones Water Forest Camp, Oak Flat Picnic and Campground, Pioneer Pass Picnic Grounds along with the 200 foot areas on both sides of Federal Highway 9 K in the northern Tonto. The 19 sites in the Coconino National Forest were not listed in the modification. (Sources: Presidential Executive Order 10355, Public Land Order 1229, Statements in Federal Register Saturday, October 1, 1955, Public Land Order 5132, Examination of Public Records at Bureau of Land Office in Phoenix which included MTP plats, historic notations on plats and also on BLM Section Township and Range Title Tract Sheets, and a search of mining claim mineral surveys near target area for this story ) Ted Lake firstname.lastname@example.org