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Someone used this link in something I was looking at work today. I've been to these 2 towns and around the periphery of the mine but didn't realize just how massive of an operation it was. NASA's quote of 840 million pounds of copper after extraction equates to 420,000 tons if I did the math right. That's a lot of Cu (in my opinion). I wonder how much is left in those local low mountains...??
Morenci Mine, Arizona : Image of the Day
Based on your figures, this will make a huge dent in the scrap copper market. Looks like I will have to continue to stock pile for many years to come.
Maybe not P76. This mine has been operating for deacdes. I think their new ground is probably just because they've mined out most of what they already have.
Cost way more to process the ore than it does to process the scrap copper. BLM trading 4,000 acres for 16,000 acres will help lower the cost for processing the ore (not sure if I agree with the land swap). 4 for 16?
:cool:Quote:
Originally Posted by Patriot76
If I read this right, this all took place way back in 2008. Ancient history by now.Quote:
Originally Posted by Patriot76
Quote:
The company plans to open a second open-pit copper mine on the land in 2008. Worried about pollution and long-term land degradation, the San Carlos Apache Tribe, whose reservation is adjacent to the proposed mine site, as well as several environmental groups protested the decision.
M688- My main point wasn't the land transfer news in the NASA imagery narrative but the fact that many folks on the forum might not know that one location in the U.S. produces as much copper annually, although it looks like the NASA number of over 800 million pounds may be off or is in fact "old news".
Morenci Copper Mine, Arizona - Mining Technology
FCX_Freeport-McMoRan Inc. - Worldwide Operations, Morenci Mine and Processing Facilities
https://en.wikipedia.org/wiki/Phelps_Dodge
Maybe the general knowledge on this forum of the whole Morenci Cu operation is "old news", sorry I didn't reserach the archives. Just though I'd share what came across my desk yesterday...
Interesting articles nevertheless that it was 2008, it does put a little perspective on copper. Historically Arizona and for that matter the western states have been about the mining of something from the earth. Now we are all here learning how to be "Urban Miners", how history changes! The company that is or was "Phelps Dodge", originally started out as a import/export company (1800's), selling "cotton" to England and buying metal (copper, steel, tin) to import to this country. Today company has since merged with another company and is one of the largest landowners in the country. Also owns large copper mines in Brazil and Mexico.
Aside from scrap copper , there is a bullion market that would appear to be less of a semi precious metal now.
my yard dipped under $2 .
I think for us free finders - Free is good profit any way you cut it . Yet
I have my concerns as to copper dipping lower on the spot market .
Natural resources and recycling copper can be had . So now we know and we can be realistic in our hording techniques.
Copper translates into money to get from yards . When I could get $140 for 50# that was great ,
now I am at $100 still ok .
China's Copper-Loans Scandal Explained
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Inside the Most Expensive Hotel Room in New York City
to some $50,000 is $100