Phelps Dodge News

Phelps Dodge Corp. said today it received the air quality permit needed for its new copper-mining operation to be constructed near Safford. Issuance of the permit came from the Air Quality Division of the Arizona Department of Environmental Quality.

Obtaining the permit allows Phelps Dodge to initiate construction of the mine. The company has been conducting allowable site preparation activity for several months. Formal construction will begin in early August. The 1st major construction milestone, the pouring of concrete for a secondary crusher, is scheduled to take place in late August. Plans are for the mine to be in full production in the 2nd half of 2008.

The construction budget for Safford is approx., $550 million. Full production is projected to be approx., 120,000 short tons of copper a year. Phelps Dodge estimates the new mine will employ up to 1,000 construction workers at peak construction, approx., 400 full-time workers & an additional 100 contract workers. Projections are that the mine also will create approx., 250 to 300 additional indirect jobs in surrounding communities.