DOCSLIB.ORG

2008 Annual Report Freeport-Mcmoran Copper & Gold Inc

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2008 Annual Report Freeport-Mcmoran Copper & Gold Inc Core Assets FREEPORT-MCMORAN COPPER & GOLD INC. 2008 Annual Report Freeport-McMoRan Copper & Gold Inc. Freeport-McMoRan Copper & Gold Inc. (FCX) is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX has a dynamic portfolio of operating, expansion and growth projects in the copper industry and is the world’s largest producer of molybdenum. The company’s portfolio of assets includes the Grasberg minerals district, which is the world’s largest copper and gold mine in terms of recoverable reserves; significant mining operations in the Americas, including the large-scale Morenci minerals district and the Sieritta and Bagdad mines in North America and the Cerro Verde, El Abra and Candelaria operations in South America; and the potentially world-class Tenke Fungurume development project in the Democratic Republic of Congo. Our common stock trades on the New York Stock Exchange under the symbol “FCX.” Summary Financial Highlights Years Ended December 31, 2008 2007 2006 2005 2004 (In Millions, Except Per Share Amounts) Revenues $ 17,796 $ 16,939 $ 5,791 $ 4,179 $ 2,372 Operating (loss) income (12,710)* 6,555 2,869 2,177 704 Operating cash flows 3,370 6,225 1,866 1,552 341 Capital expenditures 2,708 1,755 251 143 141 Net (loss) income applicable to common stock (11,341)* 2,769 1,396 935 157 Diluted net (loss) income per common share (29.72)* 7.50 6.63 4.67 0.85 Dividends paid per common share 1.81 1.25 4.75 2.50 1.10 At December 31: Cash and cash equivalents 872 1,626 907 764 552 Total assets 23,353 40,661 5,390 5,550 5,087 Total debt, including current portion and short-term borrowings 7,351 7,211 680 1,256 1,952 Total stockholders’ equity 5,773 18,234 2,445 1,843 1,164 *Includes charges totaling $17.7 billion ($13.2 billion to net loss or $34.47 per share) associated with asset impairment, lower of cost or market inventory adjustments, restructuring and other charges. See page 14 for further discussion. Core Assets Freeport-McMoRan Copper & Gold Inc. produces metals that are vital to the world’s economies. Our long-lived reserves, geographically diverse operations and flexible operating structure are the “Core Assets” that reflect our strength and ensure our future at a time when our industry and the world’s economies face significant challenges. Table of Contents 2 Major Mine Operations & Development Projects 4 Letter to Shareholders 8 Operational Overview 12 Board of Directors and Management 13 Financial & Operating Information On the cover and this page: Core samples from exploration drilling 110 Performance Graph in the Grasberg minerals district in Papua, Indonesia 111 Stockholder Information 2008 Annual Report FREEPORT-McMoRan COPPER & GOLD INC. 1 Major Mine Operations & Development Projects All major assets majority-owned and operated 2 1 3 7 4 5 6 North America South America Tenke Reserves Reserves Reserves at 12/31/2008 2008 Sales at 12/31/2008 2008 Sales at 12/31/2008 Cu 28.3 billion lbs Cu 1.4 billion lbs Cu 32.2 billion lbs Cu 1.5 billion lbs Cu 5.9 billion lbs Mo 2.1 billion lbs Mo 71 million lbs* Au 1.3 million ozs Au 0.1 million ozs Co 0.7 billion lbs Grasberg Consolidated Totals Reserves Reserves at 12/31/2008 2008 Sales at 12/31/2008 2008 Sales Cu 35.6 billion lbs Cu 1.1 billion lbs Cu 102.0 billion lbs Cu 4.1 billion lbs *Includes sales of molybdenum produced Au 38.5 million ozs Au 1.2 million ozs Au 40.0 million ozs Au 1.3 million ozs as a by-product at Mo 2.5 billion lbs Mo 71 million lbs* FCX’s North and South Co 0.7 billion lbs America copper mines. 2 FREEPORT-McMoRan COPPER & GOLD INC. 2008 Annual Report At December 31, 2008, Freeport-McMoRan Copper & Gold Inc. had estimated recoverable reserves totaling 102.0 billion pounds of copper, 40.0 million ounces of gold and 2.48 billion pounds of molybdenum. Net additions to 2008 reserves included 12.8 billion pounds of copper and 0.51 billion pounds of molybdenum — more than three times the copper and seven times the molybdenum that we produced during 2008. These geographically diverse reserves — our “Core Assets” — are part of our existing operations or future mine plans on four continents. Locations Key 1 Morenci, Arizona Locations Bagdad, Arizona Copper (Cu) Sierrita, Arizona Gold (Au) Safford, Arizona Molybdenum (Mo) 2 Henderson, Colorado Cobalt (Co) 8 3 Tyrone, New Mexico 4 Cerro Verde, Peru 5 El Abra, Chile 6 Candelaria / Ojos del Salado, Chile 7 Tenke Fungurume, Democratic Republic of Congo 8 Grasberg, Indonesia Copper Reserves Copper Reserve Breakdown in billions of pounds 120 100 35% Indonesia 80 31% South America 60 28% North America 40 6% Africa 20 2008 2007 2008 Annual Report FREEPORT-McMoRan COPPER & GOLD INC. 3 Focused Strategy Our near-term business strategy is focused on protecting our liquidity position and preserving our large mineral resources and growth opportunities for anticipated improved market conditions in the longer term. We benefit from having as one of our Core“ Assets” the world’s largest gold mine at our Grasberg minerals district in Indonesia (pictured), where we are mining in a high-grade section of the mine at a time of high gold prices. Grasberg is also the world’s largest copper mine in terms of recoverable reserves. To Our Shareholders with no significant debt maturities for the next several years. We made important progress during the year in The theme of this year’s annual report, “Core Assets,” defining the potential of our significant resources on four reflects the strength of our company and our optimism for continents, which enabled us to add to our reserves and the future at a time when our industry and the world’s establish a roadmap for future reserve additions and economies face significant challenges. With the sharp growth opportunities. Our 2008 copper sales of 4.1 billion and sudden downturn in copper and molybdenum prices pounds established a new record for the company. and the weak, uncertain economic outlook, we quickly changed our business to adapt so that our shareholders As the world’s largest publicly traded producer of copper can prosper when business conditions improve. and the global leader in molybdenum production, our revenues and cash flows are being significantly affected We entered 2008 in a strong position, having repaid $10 by the sharp decline in prices that occurred in late 2008. billion in debt associated with our March 2007 acquisition Copper prices averaged $3.61 per pound in the first nine of Phelps Dodge. Our balance sheet remains strong months of 2008 and declined to a low of $1.26 per pound in 4 FREEPORT-McMoRan COPPER & GOLD INC. 2008 Annual Report December 2008. Molybdenum prices also declined sharply We also changed our financial policy to respond to the in the fourth quarter, from a level exceeding $30 per pound new economic environment. We are pleased with the to below $10 per pound. We benefit from having the world’s results of these efforts, which have resulted in hundreds largest gold mine at our Grasberg minerals district in of millions of dollars in savings from our previous plans. Indonesia. The rise in gold prices and our current mining We also took steps to enhance our liquidity position in a high-grade section of the Grasberg mine is partially by eliminating the dividend on our common stock in offsetting the decline in copper and molybdenum prices. December 2008 and through a successful $750 million equity offering in early 2009. These actions place During the fourth quarter of 2008, we acted quickly and us in a strong position during a period of economic decisively to adjust our near-term business strategy to weakness and turmoil in the global financial markets. adapt to the changing market conditions. We established and are executing plans to achieve significant reductions Our near-term business strategy is focused on protecting in all elements of our costs and capital spending programs. our liquidity position and preserving our large mineral 2008 Annual Report FREEPORT-McMoRan COPPER & GOLD INC. 5 resources and growth opportunities for anticipated returning value to shareholders through common stock improved market conditions in the longer term. dividends and common stock purchases, will continually review our financial policy as market conditions change. Our long-lived reserves, geographically diverse operations and flexible operating structure enable us While the volatile markets required decisive operational to adapt quickly to market conditions. The metals we and financial actions, our dedication to upholding produce are important to the world’s economies, and our environmental and social commitments remains we are positioned to benefit as conditions improve. The unchanged. Freeport-McMoRan Copper & Gold Inc. has outlook for copper over the long term is particularly made a strong commitment to environmental protection positive, underpinned by scarce supplies, and the role and communities through its policies, as well as a promise of copper in the infrastructure of China and the rest of to seek continuous improvement in these areas. As a the developing world and in the economies of developed founding member of the International Council on Mining nations. In the near term, we will continue to focus and Metals (ICMM), we endorse the ICMM Sustainable on reducing costs and maintaining our “Core Assets” Development Framework and 10 Sustainable Development to position us to benefit when conditions improve.
Load more

Recommended publications
  • Porphyry and Other Molybdenum Deposits of Idaho and Montana
    Porphyry and Other Molybdenum Deposits of Idaho and Montana Joseph E. Worthington Idaho Geological Survey University of Idaho Technical Report 07-3 Moscow, Idaho ISBN 1-55765-515-4 CONTENTS Introduction ................................................................................................ 1 Molybdenum Vein Deposits ...................................................................... 2 Tertiary Molybdenum Deposits ................................................................. 2 Little Falls—1 ............................................................................. 3 CUMO—2 .................................................................................. 3 Red Mountain Prospect—45 ...................................................... 3 Rocky Bar District—43 .............................................................. 3 West Eight Mile—37 .................................................................. 3 Devil’s Creek Prospect—46 ....................................................... 3 Walton—8 .................................................................................. 4 Ima—3 ........................................................................................ 4 Liver Peak (a.k.a. Goat Creek)—4 ............................................. 4 Bald Butte—5 ............................................................................. 5 Big Ben—6 ................................................................................. 6 Emigrant Gulch—7 ...................................................................
    [Show full text]
  • Freeport-Mcmoran Copper & Gold Inc. Announces Molybdenum
    Financial Contacts: Media Contact: One North Central Avenue Phoenix, AZ 85004 Kathleen L. Quirk David P. Joint William L. Collier (602) 366-8016 (504) 582-4203 (504) 582-1750 Freeport-McMoRan Copper & Gold Inc. Announces Molybdenum Production Curtailment and Plans to Defer Restart of Climax Molybdenum Mine PHOENIX, AZ, November 10, 2008 – Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) announced today in response to the recent sharp decline in molybdenum prices plans to reduce production from its Henderson primary molybdenum mine and to defer the restart of the Climax molybdenum mine. Molybdenum markets have been strong in recent years, averaging $30 per pound in 2007 and $33 per pound in the nine months ended September 30, 2008. Slowing demand for molybdenum in the metallurgical and chemicals sectors during October 2008 combined with weak global economic conditions and turmoil in credit and financial markets has resulted in a sudden and sharp decline in molybdenum prices in recent weeks. The Metals Week Molybdenum Dealer Oxide price declined from approximately $30 per pound in mid-October 2008 to $12 per pound on November 10, 2008. In response to these conditions, FCX has revised its mine plans at its Henderson primary molybdenum mine near Empire, Colorado to operate at a reduced rate. This will result in a reduction in expected annual molybdenum production of approximately 10 million pounds, reflecting a 25 percent reduction in Henderson’s approximate annual production. FCX is also assessing the potential to curtail molybdenum production at its by-product mines. FCX also announced the suspension of construction activities associated with the restart of the Climax molybdenum mine near Leadville, Colorado.
    [Show full text]
  • BUILDING on STRENGTH Annual Report on Sustainability
    BUILDING ON STRENGTH Annual Report on Sustainability 2019 Sustainability Report | 1 Cover Photo: Remote underground equipment operators at the Grasberg Block Cave, Indonesia. About Freeport-McMoRan Freeport-McMoRan Inc. (Freeport-McMoRan, FCX or the company) is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers. Our portfolio of assets includes the Grasberg minerals district in Indonesia (PT Freeport Indonesia or PT-FI), one of the world’s largest copper and gold deposits; and significant mining operations in North America and South America (Freeport Minerals Corporation or FMC), including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. RECENT AWARDS & RECOGNITION Freeport-McMoRan was named to Forbes Magazine’s JUST 100 as one of America’s most JUST Companies for the 4th consecutive year (ranked 43rd nationally and 1st in Basic Resources). Freeport-McMoRan ranked 6th among 200 of the largest publicly traded companies in the world assessed by the Corporate Human Rights Benchmark (ranked 1st in North America and 3rd among 56 global extractive companies evaluated). Forbes Magazine ranked Freeport-McMoRan on its 2019 Best Employers List (2nd best employer in Arizona and 143rd nationally). Newsweek ranked Freeport-McMoRan as one of America’s 300 Most Responsible Companies (ranked 138th). 100 BEST Corporate Responsibility Magazine listed Freeport-McMoRan as one of the CORPORATE 100 Best Corporate Citizens for the 8th year for outstanding environmental, CITIZENS social and governance (ESG) transparency and performance.
    [Show full text]
  • Fluid-Inclusion Petrology Data from Porphyry Copper Deposits and Applications to Exploration COVER PHOTOGRAPHS 1
    - . Fluid-Inclusion Petrology Data from PorpHyry Copper Deposits and Applications to Exploration COVER PHOTOGRAPHS 1. Asbestos ore 8. Aluminum ore, bauxite, Georgia I 2 3 4 2. Lead ore, Balmat mine, N.Y. 9. Native copper ore, Keweenawan 5 6 3. Chromite, chromium ore, Washington Peninsula, Mich. 4. Zinc ore, Friedensville, Pa. 10. Porphyry molybdenum ore, Colorado 7 8 5. Banded iron-formation, Palmer, 11. Zinc ore, Edwards, N.Y. Mich. 12. Manganese nodules, ocean floor 9 10 6. Ribbon asbestos ore, Quebec, Canada 13. Botryoidal fluorite ore, 7. Manganese ore, banded Poncha Springs, Colo. II 12 13 14 rhodochrosite 14. Tungsten ore, North Carolina Fluid-Inclusion Petrology­ Data from Porphyry Copper Deposits and Applications to Exploration By]. THOMAS NASH GEOLOGY AND RESOURCES OF COPPER DEPOSITS GEOLOGICAL SURVEY PROFESSIONAL PAPER 907-D A summary of new and published descriptions offluid inclusions from 3 6 porphyry copper deposits and discussion of possible applica'tions to exploration for copper deposits UNITED STATES GOVERNMENT PRINTING OFFICE, WASHINGTON 1976 UNITED STATES DEPARTMENT OF THE INTERIOR THOMAS S. KLEPPE, Secretary GEOLOGICAL SURVEY V. E. McKelvey, Director Library of Congress Cataloging in Publication Data Nash, John Thomas, 1941- Fluid-inclusion petrology-data from porphyry copper deposits and applications to exploration. (Geology and Resources of Copper Deposits) (Geological Survey Professional Paper 907-D) Bibliography: p. Supt. of Docs. no.: I 19.16:907-D 1. Porphyry-Inclusions. 2. Porphyry-Southwestern States. 3. Copper ores-Southwestern States. I. Title. II. Series. III. Series: United States Geological Survey Professional Paper 907-D. QE462.P6N37 549'.23 76-608145 For sale by the Superintendent of Documents, U.S.
    [Show full text]
  • Table of Contents (PDF)
    GUIDEBOOK SERIES Volume 43 Climax and Henderson Porphyry Molybdenum Deposits and The Leadville District, Colorado Guidebook Prepared for the Society of Economic Geologists Field Trip September 26–28, 2018 Field Trip Leaders: Ralph J. Stegen, Tommy B. Thompson, and Eric Seedorff SOCIETY OF ECONOMIC GEOLOGISTS GUIDEBOOK SERIES OF THE SOCIETY OF ECONOMIC GEOLOGISTS, INC. Guidebook 43 Print ISSN 1547-3090 ISBN 978-1-629490-46-5 Online ISSN 2374-6955 ISBN 978-1-629494-80-7 Digital version (PDF) available from Society of Economic Geologists, Inc. Bookstore: www.segweb.org/store Tel. 1.720.981.7882 Fax: 1.720.981.7874 Publication date: September 2018 (Revised) CONTENTS Preface Ralph J. Stegen, Tommy B. Thompson, and Eric Seedorff . iii Road Log To the Henderson Mine . 1 To Climax, Colorado . 14 To Leadville, Colorado. 23 Climax Porphyry Molybdenum Deposit, Colorado: A Summary [Reprint] James R. Shannon, Eric P. Nelson, and Richard P. Smith. 37 An Abbreviated History of the Leadville Mining District, Colorado Tommy B. Thompson. 55 The Black Cloud Story [Reprint] Douglas M. Smith, Jr. .59 Post-Production History of the Black Cloud Mine, Leadville District, Colorado Tommy B. Thompson. .67 Geology and the Origin of Ore Deposits in the Leadville District, Colorado: Part I. Geologic Studies of Orebodies and Wall Rocks [Reprint] Tommy B. Thompson and Greg B. Arehart . 71* Geology and the Origin of Ore Deposits in the Leadville District, Colorado: Part II. Oxygen, Hydrogen, Carbon, Sulfur, and Lead Isotope Data and Development of a Genetic Model [Reprint] Tommy B. Thompson and David W. Beaty. 97* *Guidebook 43 page numbers (in the format Page XX) are included for convenience; original publication numbers have been retained in these papers as well.
    [Show full text]
  • Henderson Operations (Mine) – Clear Creek County
    Site: Henderson Operations (Mine) – Clear Creek County Date: Thursday, May 3, 2018 Purpose The Community Partnership Panel is hosted by Freeport-McMoRan to keep the community informed about operational activities and to foster open and ongoing dialogue to develop thoughtful solutions to address community issues. Safety Share The safety and health of all Freeport-McMoRan (FCX) employees, along with our commitment to the environment, are of the highest priority. Our objective is zero workplace injuries and occupational illness. Remembering to be prepared to drive in all conditions is important in Colorado. Today is the perfect example of quickly changing weather and having extra windshield wiper fluid, blankets, and some extra snacks could be critical. Industry / Business Update For the most recent FCX financial information please visit: Freeport-McMoRan Investor Center . Headcount • Climax Operations 363 of a 450 forecast • Henderson Operations 347 of a 389 forecast • Environmental updates – Miguel Hamarat, Environmental Manager gave a presentation on the following projects happening Grand County: - Improvements on the tailings impoundment in Grand County near County Road 3 will be taking place this summer - Agricultural study with CSU begins May 2018 related to molybdenum agricultural standard setting Stuart Teuscher, General Manager, was asked by a panel member what an “uptick” in production looks like in the future. Stuart explained that the operation will continue to run a 2 crew schedule and will be focused on increasing daily tonnage based on market demand. Targeted headcount, as presented, is consistent with this approach. | 1 College Intern Program – Since 2007, Freeport-McMoRan has been hiring college interns, giving them the opportunity to work on professional projects and gain relevant hands-on experience! .
    [Show full text]
  • Climax Molybdenum
    Investment Community Presentation 1 ©2006 Phelps Dodge Corp.—Investment Community Presentation March 16, 2006 Forward-Looking Statements and Supplemental Data • These materials include "forward-looking statements" (as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) including statements regarding, among other things, the company’s business strategy and growth strategy • All statements other than historical information are forward-looking statements • These forward-looking statements are based on management’s current expectations, speak only as of the date made, and are subject to a number of risks and uncertainties that cannot be predicted or quantified and are beyond our control • Future developments and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements • Please refer to the Management’s Discussion and Analysis and Risk Factors sections of our most recent 10-K and 10-Q reports, as well as our other publicly available filings with the SEC for a discussion of risk factors and factors that could cause actual results to differ materially • These materials also include terms used to describe supplemental data • Any such data or terms are not a substitute for any U.S. generally accepted accounting principle measure and should be evaluated within the context of our U.S. GAAP results • Any such references may not be comparable to similarly titled measures reported by other companies • Unless otherwise indicated,
    [Show full text]
  • Analysis of Molybdenum Sources, Water Management and Treatment Alternatives
    Analysis of Molybdenum Sources, Water Management and Treatment Alternatives July 1, 2019 Prepared for: Climax Molybdenum Company Prepared by: Stantec Consulting Services, Inc. Revision Description Author Quality Check 1 Draft w/o costs J. Finley JF Andrew Watson AW Revised draft w/o 2 J. Finley JF Andrew Watson AW costs Respond to 3 comments from J. Finley JF Andrew Watson AW CDPHE Issued for 4 submission to J. Finley JF Andrew Watson AW WQCC Sign-off Sheet This document entitled Analysis of Molybdenum Sources, Water Management and Treatment Alternatives was prepared by Stantec Consulting Services Inc. (“Stantec”) for the account of Climax Molybdenum Company (the “Client”). Any reliance on this document by any third party is strictly prohibited. The material in it reflects Stantec’s professional judgment in light of the scope, schedule and other limitations stated in the document and in the contract between Stantec and the Client. The opinions in the document are based on conditions and information existing at the time the document was published and do not take into account any subsequent changes. In preparing the document, Stantec did not verify information supplied to it by others. Any use which a third party makes of this document is the responsibility of such third party. Such third party agrees that Stantec shall not be responsible for costs or damages of any kind, if any, suffered by it or any other third party as a result of decisions made or actions taken based on this document. Prepared by (signature) Jim B Finley Reviewed by (signature) Andrew Watson ANALYSIS OF MOLYBDENUM SOURCES, WATER MANAGEMENT AND TREATMENT ALTERNATIVES Table of Contents EXECUTIVE SUMMARY ...........................................................................................................III ABBREVIATIONS ....................................................................................................................
    [Show full text]
  • Geology of the Questa Molybdenum (Moly) Mine Area, Taos County, New Mexico
    BULLETIN 51 Geology of the Questa Molybdenum (Moly) Mine Area, Taos County, New Mexico BY JOHN H. SCHILLING Local structure and stratigraphy, and detailed description of mineral deposits as related to regional geology, with guides to ore exploration in the surrounding area 1956 STATE BUREAU OF MINES AND MINERAL RESOURCES NEW MEXICO INSTITUTE OF MINING & TECHNOLOGY CAMPUS STATION SOCORRO, NEW MEXICO NEW MEXICO INSTITUTE OF MINING & TECHNOLOGY E. J. Workman, President STATE BUREAU OF MINES AND MINERAL RESOURCES Eugene Callaghan, Director THE REGENTS MEMBERS EX OFFICIO THE HONORABLE JOHN F. SIMMS ......................Governor of New Mexico MRS. GEORGIA L. LUSK ...................... Superintendent of Public Instruction APPOINTED MEMBERS ROBERT W. BOTTS .................................................................... Albuquerque HOLM O. BURSUM, JR. .......................................................................Socorro THOMAS M. CRAMER ...................................................................... Carlsbad JOHN N. MATHEWS, JR.......................................................................Socorro RICHARD A. MATUSZESKI ...................................................... Albuquerque FRONTISPIECE View of Sulphur Gulch showing W level dump (lower left), landslide covering portals of Glory Hole workings (center), and the altered area — hydrothermal pipe — at the head of Sulphur Gulch (treeless area, upper right). Contents Page ABSTRACT ....................................................................................................ix
    [Show full text]
  • Human Health and Environmental Damages from Mining and Mineral Processing Wastes
    HUMAN HEALTH AND ENVIRONMENTAL DAMAGES FROM MINING AND MINERAL PROCESSING WASTES Technical Background Document Supporting the Supplemental Proposed Rule Applying Phase IV Land Disposal Restrictions to Newly Identified Mineral Processing Wastes - Includes supplemetal attachments on (1) Mine Waste Releases and Contaminants for Selected Facilities; (2) Natural Resource Damages and (3) Releases from Phosphogypsum Storage Piles. Office of Solid Waste U.S. Environmental Protection Agency December 1995 TABLE OF CONTENTS Page CHAPTER 1. OVERVIEW ........................................................ 1 Purpose of the Background Document ............................................ 1 Process for Developing the Background Document .................................. 1 Summary of Damage Cases .................................................... 4 Conclusion ................................................................. 8 CHAPTER 2. ILLUSTRATIVE DAMAGE CASES .................................... 9 Arizona C Ray Mines Complex: UST Leak, PCB and Acid Spills, and Wastewater Transfer ............................................................. 13 California C American Girl Mine: Two of Three Releases Were Contained ..................... 15 C Carson Hill Gold Mine: Cyanide Solution Spills Into Reservoir .................... 16 C Grey Eagle Mine: Faulty Dam Plagues Operation ............................... 18 C Iron Mountain Mine: Uncontrolled Release Kills 200,000 Salmon .................. 20 C Jamestown Mine: Plagued by Numerous Spills ................................
    [Show full text]
  • Vicki Seppala General Manager, Climax Mine Freeport-Mcmoran Inc
    Vicki Seppala General Manager, Climax Mine Freeport-McMoRan Inc. 2019 Medal of Merit Recipient Non-traditional was a label used to describe Vicki Seppala when she returned to college. Returning to university after working in another industry was difficult but a path desired in her quest for a better life for herself and young son. It was just a Mine and Geological Engineering recruiting brochure on the science wall at Glendale Community College, but it caught her eye and Seppala soon found herself moving to Tucson with her fourth grade son and enrolling in the University of Arizona Geological Engineering program where she earned her Bachelor of Science Degree. She received scholastic scholarships each year and graduated with honors; she also was chosen the 1994 Outstanding Senior for the College of Engineering and Mines. After graduation, although the industry was in a down cycle, Seppala was hired as a Geological Engineer with the Phelps Dodge Sierrita mine (now Freeport-McMoRan Inc.). Her leadership skills and enthusiasm of new challenges propelled Seppala into operational roles of increasing responsibility rapidly rising to Mine Operations & Maintenance Superintendent. In 2003 she was promoted to Mine Technology Manager responsible for investigating, developing, and introducing new/existing technology to Freeport’s copper mines in North and South America. In 2006 Seppala was promoted to Mine Manager at Freeport’s Candelaria operation near Copiapo, Chile, becoming the first woman Mine Manager in Chile. The Mining Industry in Chile was rapidly changing with respect to women in nontraditional roles at that time, and Seppala became a part of that change.
    [Show full text]
  • High Altitude Tailings Reclamation
    IDGH ALTITUDE TAILING ~CLAMATION' Larry F. Brown', M. J. Trlica', and Jay Jones' Abstract: Tailing, if present, is the most difficult aspect of mine reclamation. Physical characteristics of tailing often provide good soil-plant water relations, but that characteristic is frequently overshadowed by its high erodability. Chemical characteristics such as high acidity, alkalinity, salinity, and heavy metal concentrations are common in metal mine tailing and can prohibit direct revegetation of the tailing. When detrimental physical and chemical characteristics exist, an accepted tailing reclamation technique is to place a cover material over the tailing and revegetate that material. The cover material should: I) be relatively inert; 2) be deep enough for an adequate root zone for vegetation; 3) possess good soil-plant water and nutrient relations; 4) be resistant to erosion; and, 5) minimize capillary movement of water and contaminanats from the tailing into the cover material. In some instances, the cover material must also act as a barrier to movement of oxygen and water to and from the tailing. Specific case studies of high elevation tailing reclamation are discussed; including relative difficulties, successes, and costs, along with data for 18 years of vegetation monitoring at the reclaimed Urad Mine tailing ponds. The data indicate that production and diversity on the Urad tailing ponds has always exceeded that of the control and that vegetation cover on the ponds initially exceeded that of the control, but is now below that of the control. Additional Key Words: Revegetation; cover; production; diversity; heavy metals; reclamation costs Introduction Some general distinctions will be helpful before describing various tailing reclamation projects.
    [Show full text]