Copper Mining Industry In Arizona Is Expanding

ME?s Arizona Conference was held at the Hilton El Conquistador resort in Tucson on Dec. 2 and 3, 2007. The annual conference is organized by the Arizona Conference Board of Directors, which represents SME sections in Arizona and adjacent areas. The conference provides an opportunity for individuals and corporations associated with mining in the region to get together once each year to discuss the status of the industry. The 2007 meeting featured a keynote address, a distinguished lecturer and more than 25 technical papers that were presented in seven sessions. The sessions included environmental, geology, safety, metallurgy, mining, new projects and a special session on Mexico. Topics covered included mine closure, sustainable mining, exploration methods, health and safety issues, mining equipment and drilling. Much of the discussion at the conference concerned major new developments in the region?s copper mining industry. For example, Freeport-McMoRan?s new Safford Mine and BHP Billiton?s Pinto Valley restart were the topics of technical presentations. There was also much discussion among the attendees on the current and future price of copper, community relations, education issues and recruitment concerns. At the time of the conference, the price of copper hovered around $3.30/lb, up considerably from the 61 cents/lb in late 2001, when the industry was being challenged by world market conditions and a weakened domestic economy. Since then, strong demand from China helped push copper prices to record levels that at one time reached as high as $4/lb. The general consensus among the attendees is that the current price of around $3.30/lb will continue through 2008. Most attendees also expect increased corporate investments in the industry to continue. Copper mining in Arizona has been a major industry since the 1800s. In 2007, Arizona was the leading copper-producing state in the United States and produced more than $5 billion worth of copper. The copper mining industry in Arizona also produces byproduct gold, silver and molybdenum. Arizona is the second largest molybdenum producer in the United States.