Phelps Dodge
Encyclopedia
Phelps Dodge Corporation was an American
mining
company founded in 1834 by Anson Greene Phelps
and William Earle Dodge, Sr.. On March 19, 2007, it was acquired by Freeport-McMoRan
and now operates under the name Freeport-McMoRan Copper & Gold Inc.
-grown cotton to England
in exchange for tin
, iron
, copper
and other metals essential for growth and development of the new American nation.
As time went on, the company began its own mining
operations as the western United States frontier expanded, and its mineral wealth, especially copper
, started being discovered. The company focused largely on providing copper wire and cables to industry that became in high demand as the Industrial Revolution
took hold. As the company diversified, it began investing in new railroads, essential in the company’s efforts to establish itself in the west, especially copper-rich Arizona
, and to transport products to and from its markets on the eastern/northeastern shores. During the late 19th century, in concert with its metal interests, Phelps Dodge Corporation became one of the largest producers of lumber and lumber products in the United States.
In Tombstone, Arizona
during 1900 E. B. Gage, Frank Murphy, and William Staunton consolidated their various mining properties into a single entity, the Tombstone Consolidated Mines Company. They re-started efforts to drain mines that had filled with water, laid a rail spur into town, and re-commenced mining. They experienced some success until the pumps failed in 1909. The new company filed for bankruptcy and the Phelps-Dodge Corporation corporation acquired its claims.
The company became notorious for its anti-union
tactics, primarily for its kidnapping of nearly 1,300 striking
miners and the seizure of the telegraph and telephone lines in the town of Bisbee, Arizona
, during the Bisbee Deportation
in 1917.
In South America, the company had several very large copper mining operations in Chile
and Peru
. In the Congo
, Phelps Dodge Corporation was the majority owner and operator of the Tenke Fungurume
project, generally considered to be the world's largest undeveloped copper/cobalt project.
A subsidiary of Phelps Dodge Corporation, Climax Molybdenum, is the largest primary producer of molybdenum
in the world. At the Henderson mine west of Empire, Colorado
, Climax Molybdenum has produced more than 160 million tons of ore and 770 million pounds of molybdenum since the mine opened in 1976. Climax Molybdenum also owns the inactive Climax molybdenum mine
, north of Leadville, Colorado
.
The historic Phelps Dodge General Office Building
in Bisbee, Arizona
was declared a National Historic Landmark
of the U.S. in 1983.
The Phelps Dodge copper mine at Morenci, Arizona was the site of a violent strike from 1983 to 1986, culminating in one of the largest union decertifications in American labor history.
The company employed more than 13,500 people worldwide.
announced that it planned to acquire Phelps Dodge for $25.9 billion in cash and stock to create the world's largest publicly traded copper mining company. Stockholders for both companies voted on the proposal March 14, 2007. On Monday, March 19, 2007, Phelps Dodge Corporation was acquired by Freeport-McMoRan
(NYSE: FCX), creating the world's largest publicly traded copper company, with 25,000 employees at acquisition.
At the time of its acquisition in 2007, Phelps Dodge Corporation had large copper mining operations in Bagdad, Arizona
, Morenci, Arizona
, Sahuarita, Arizona
, Miami, Arizona
, and Tyrone, New Mexico
, and the El Chino Mine
in New Mexico
. Several of these locations provide ores rich in molybdenum
as well. It had recently begun development of the Safford Mine
near Safford, Arizona
. In 2006, revenue was $11.910 billion USD
, operating income was $4.226 billion, and net income was $3.017 billion.
have identified Phelps Dodge as the 23rd-largest corporate producer of air pollution
in the United States, with roughly 3.64 million pounds of toxins released annually into the air. Major pollutants included sulfuric acid
, chromium
compounds, lead
compounds, and chlorine
. The Center for Public Integrity
has reported that Phelps Dodge is named as a potentially responsible party in at least 13 Superfund
toxic waste sites.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
mining
Mining
Mining is the extraction of valuable minerals or other geological materials from the earth, from an ore body, vein or seam. The term also includes the removal of soil. Materials recovered by mining include base metals, precious metals, iron, uranium, coal, diamonds, limestone, oil shale, rock...
company founded in 1834 by Anson Greene Phelps
Anson Greene Phelps
Anson Greene Phelps was a co-founder of mining company Phelps Dodge, which he founded in 1833 along with his son-in-law William E. Dodge.-Early life:...
and William Earle Dodge, Sr.. On March 19, 2007, it was acquired by Freeport-McMoRan
Freeport-McMoRan
Freeport-McMoRan Copper & Gold Inc., often called simply Freeport, is the world's lowest-cost copper producer and one of the world's largest producers of gold...
and now operates under the name Freeport-McMoRan Copper & Gold Inc.
History
Initially, Phelps Dodge operated an import-export trade business that shipped U.S.United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
-grown cotton to England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
in exchange for tin
Tin
Tin is a chemical element with the symbol Sn and atomic number 50. It is a main group metal in group 14 of the periodic table. Tin shows chemical similarity to both neighboring group 14 elements, germanium and lead and has two possible oxidation states, +2 and the slightly more stable +4...
, iron
Iron
Iron is a chemical element with the symbol Fe and atomic number 26. It is a metal in the first transition series. It is the most common element forming the planet Earth as a whole, forming much of Earth's outer and inner core. It is the fourth most common element in the Earth's crust...
, copper
Copper
Copper is a chemical element with the symbol Cu and atomic number 29. It is a ductile metal with very high thermal and electrical conductivity. Pure copper is soft and malleable; an exposed surface has a reddish-orange tarnish...
and other metals essential for growth and development of the new American nation.
As time went on, the company began its own mining
Mining
Mining is the extraction of valuable minerals or other geological materials from the earth, from an ore body, vein or seam. The term also includes the removal of soil. Materials recovered by mining include base metals, precious metals, iron, uranium, coal, diamonds, limestone, oil shale, rock...
operations as the western United States frontier expanded, and its mineral wealth, especially copper
Copper
Copper is a chemical element with the symbol Cu and atomic number 29. It is a ductile metal with very high thermal and electrical conductivity. Pure copper is soft and malleable; an exposed surface has a reddish-orange tarnish...
, started being discovered. The company focused largely on providing copper wire and cables to industry that became in high demand as the Industrial Revolution
Industrial Revolution
The Industrial Revolution was a period from the 18th to the 19th century where major changes in agriculture, manufacturing, mining, transportation, and technology had a profound effect on the social, economic and cultural conditions of the times...
took hold. As the company diversified, it began investing in new railroads, essential in the company’s efforts to establish itself in the west, especially copper-rich Arizona
Arizona
Arizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...
, and to transport products to and from its markets on the eastern/northeastern shores. During the late 19th century, in concert with its metal interests, Phelps Dodge Corporation became one of the largest producers of lumber and lumber products in the United States.
In Tombstone, Arizona
Tombstone, Arizona
Tombstone is a city in Cochise County, Arizona, United States, founded in 1879 by Ed Schieffelin in what was then Pima County, Arizona Territory. It was one of the last wide-open frontier boomtowns in the American Old West. From about 1877 to 1890, the town's mines produced USD $40 to $85 million...
during 1900 E. B. Gage, Frank Murphy, and William Staunton consolidated their various mining properties into a single entity, the Tombstone Consolidated Mines Company. They re-started efforts to drain mines that had filled with water, laid a rail spur into town, and re-commenced mining. They experienced some success until the pumps failed in 1909. The new company filed for bankruptcy and the Phelps-Dodge Corporation corporation acquired its claims.
The company became notorious for its anti-union
Trade union
A trade union, trades union or labor union is an organization of workers that have banded together to achieve common goals such as better working conditions. The trade union, through its leadership, bargains with the employer on behalf of union members and negotiates labour contracts with...
tactics, primarily for its kidnapping of nearly 1,300 striking
Strike action
Strike action, also called labour strike, on strike, greve , or simply strike, is a work stoppage caused by the mass refusal of employees to work. A strike usually takes place in response to employee grievances. Strikes became important during the industrial revolution, when mass labour became...
miners and the seizure of the telegraph and telephone lines in the town of Bisbee, Arizona
Bisbee, Arizona
Bisbee is a city in Cochise County, Arizona, United States, 82 miles southeast of Tucson. According to 2005 Census Bureau estimates, the population of the city was 6,177...
, during the Bisbee Deportation
Bisbee Deportation
The Bisbee Deportation was the illegal deportation of about 1,300 striking mine workers, their supporters, and citizen bystanders by 2,000 vigilantes on July 12, 1917. The workers and others were kidnapped in the U.S. town of Bisbee, Arizona and held at a local baseball park. They were then loaded...
in 1917.
In South America, the company had several very large copper mining operations in Chile
Chile
Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...
and Peru
Peru
Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....
. In the Congo
Democratic Republic of the Congo
The Democratic Republic of the Congo is a state located in Central Africa. It is the second largest country in Africa by area and the eleventh largest in the world...
, Phelps Dodge Corporation was the majority owner and operator of the Tenke Fungurume
Tenke Fungurume
The Tenke Fungurume Mine holds one of the world's largest known copper and cobalt resources. The deposits are located within two concessions totaling over in the Katanga Province of the Democratic Republic of Congo .-Ownership:...
project, generally considered to be the world's largest undeveloped copper/cobalt project.
A subsidiary of Phelps Dodge Corporation, Climax Molybdenum, is the largest primary producer of molybdenum
Molybdenum
Molybdenum , is a Group 6 chemical element with the symbol Mo and atomic number 42. The name is from Neo-Latin Molybdaenum, from Ancient Greek , meaning lead, itself proposed as a loanword from Anatolian Luvian and Lydian languages, since its ores were confused with lead ores...
in the world. At the Henderson mine west of Empire, Colorado
Empire, Colorado
The historic Town of Empire is a Statutory Town located in Clear Creek County, Colorado, United States. The population was 355 at the U.S. Census 2000. The town is a former mining settlement that flourished during the Colorado Silver Boom in the late 19th century. It is located in the valley Clear...
, Climax Molybdenum has produced more than 160 million tons of ore and 770 million pounds of molybdenum since the mine opened in 1976. Climax Molybdenum also owns the inactive Climax molybdenum mine
Climax mine
The Climax mine, located in Climax, Colorado, United States, was a major molybdenum mine in Lake and Summit counties, Colorado. In its heyday, the Climax mine was the largest molybdenum mine in the world, and for many years it supplied three-fourths of the world's supply of molbdenum...
, north of Leadville, Colorado
Leadville, Colorado
Leadville is a Statutory City that is the county seat of, and the only municipality in, Lake County, Colorado, United States. Situated at an elevation of , Leadville is the highest incorporated city and the second highest incorporated municipality in the United States...
.
The historic Phelps Dodge General Office Building
Phelps Dodge General Office Building
Phelps Dodge General Office Building is a National Historic Landmark in Bisbee, Arizona. It was declared a National Historic Landmark in 1983.The building was the headquarters of the Phelps Dodge mining company from 1896 to 1961. It is located at Copper Queen Plaza on Main Street at Brewery Gulch....
in Bisbee, Arizona
Bisbee, Arizona
Bisbee is a city in Cochise County, Arizona, United States, 82 miles southeast of Tucson. According to 2005 Census Bureau estimates, the population of the city was 6,177...
was declared a National Historic Landmark
National Historic Landmark
A National Historic Landmark is a building, site, structure, object, or district, that is officially recognized by the United States government for its historical significance...
of the U.S. in 1983.
The Phelps Dodge copper mine at Morenci, Arizona was the site of a violent strike from 1983 to 1986, culminating in one of the largest union decertifications in American labor history.
The company employed more than 13,500 people worldwide.
Expansion and acquisition
On Sunday, November 19, 2006, Freeport-McMoRanFreeport-McMoRan
Freeport-McMoRan Copper & Gold Inc., often called simply Freeport, is the world's lowest-cost copper producer and one of the world's largest producers of gold...
announced that it planned to acquire Phelps Dodge for $25.9 billion in cash and stock to create the world's largest publicly traded copper mining company. Stockholders for both companies voted on the proposal March 14, 2007. On Monday, March 19, 2007, Phelps Dodge Corporation was acquired by Freeport-McMoRan
Freeport-McMoRan
Freeport-McMoRan Copper & Gold Inc., often called simply Freeport, is the world's lowest-cost copper producer and one of the world's largest producers of gold...
(NYSE: FCX), creating the world's largest publicly traded copper company, with 25,000 employees at acquisition.
At the time of its acquisition in 2007, Phelps Dodge Corporation had large copper mining operations in Bagdad, Arizona
Bagdad, Arizona
Bagdad is a copper mining community and census-designated place in Yavapai County, Arizona, United States, in the western part of the state. It is one of only two remaining company towns in Arizona...
, Morenci, Arizona
Morenci, Arizona
Morenci is a census-designated place in Greenlee County, Arizona, United States. The population was 1,879 at the 2000 census. It is part of the Safford Micropolitan Statistical Area...
, Sahuarita, Arizona
Sahuarita, Arizona
Sahuarita is a town in Pima County, Arizona, United States. Sahuarita is located south of the Tohono O'odham Nation and abuts the north end of Green Valley, 15 miles south of Tucson...
, Miami, Arizona
Miami, Arizona
Miami is a town in Gila County, Arizona, United States. Miami is a classic Western copper boomtown, though the copper mines are largely dormant now...
, and Tyrone, New Mexico
Tyrone, New Mexico
Tyrone is a ghost town located in Grant County, New Mexico, United States, in the southwestern part of the state.Tyrone was an elaborately planned community financed by the Phelps Dodge Corporation, based on Mediterranean and European styles, designed by well-known architect Bertram Goodhue and...
, and the El Chino Mine
El Chino Mine
The Chino Mine , also known as the Santa Rita mine, is an open-pit copper mine located in the town of Santa Rita, New Mexico east of Silver City. The mine was started as the Chino Copper Company in 1909 by mining engineer John M. Sully, and is currently owned and operated by Freeport-McMoRan...
in New Mexico
New Mexico
New Mexico is a state located in the southwest and western regions of the United States. New Mexico is also usually considered one of the Mountain States. With a population density of 16 per square mile, New Mexico is the sixth-most sparsely inhabited U.S...
. Several of these locations provide ores rich in molybdenum
Molybdenum
Molybdenum , is a Group 6 chemical element with the symbol Mo and atomic number 42. The name is from Neo-Latin Molybdaenum, from Ancient Greek , meaning lead, itself proposed as a loanword from Anatolian Luvian and Lydian languages, since its ores were confused with lead ores...
as well. It had recently begun development of the Safford Mine
Safford Mine
The Safford Mine is an open-pit copper mine located in Graham County, Arizona, eight miles north of the city of Safford. The mine is owned and operated by Freeport-McMoran Copper & Gold....
near Safford, Arizona
Safford, Arizona
- History :Safford was founded by Joshua Eaton Bailey, Hiram Kennedy and Edward Tuttle, who came from Gila Bend, in southwestern Arizona. They left Gila Bend in the winter of 1873-74; their work on canals and dams having been destroyed by high water the previous summer...
. In 2006, revenue was $11.910 billion USD
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
, operating income was $4.226 billion, and net income was $3.017 billion.
Environmental record
Researchers at the University of Massachusetts AmherstUniversity of Massachusetts Amherst
The University of Massachusetts Amherst is a public research and land-grant university in Amherst, Massachusetts, United States and the flagship of the University of Massachusetts system...
have identified Phelps Dodge as the 23rd-largest corporate producer of air pollution
Air pollution
Air pollution is the introduction of chemicals, particulate matter, or biological materials that cause harm or discomfort to humans or other living organisms, or cause damage to the natural environment or built environment, into the atmosphere....
in the United States, with roughly 3.64 million pounds of toxins released annually into the air. Major pollutants included sulfuric acid
Sulfuric acid
Sulfuric acid is a strong mineral acid with the molecular formula . Its historical name is oil of vitriol. Pure sulfuric acid is a highly corrosive, colorless, viscous liquid. The salts of sulfuric acid are called sulfates...
, chromium
Chromium
Chromium is a chemical element which has the symbol Cr and atomic number 24. It is the first element in Group 6. It is a steely-gray, lustrous, hard metal that takes a high polish and has a high melting point. It is also odorless, tasteless, and malleable...
compounds, lead
Lead
Lead is a main-group element in the carbon group with the symbol Pb and atomic number 82. Lead is a soft, malleable poor metal. It is also counted as one of the heavy metals. Metallic lead has a bluish-white color after being freshly cut, but it soon tarnishes to a dull grayish color when exposed...
compounds, and chlorine
Chlorine
Chlorine is the chemical element with atomic number 17 and symbol Cl. It is the second lightest halogen, found in the periodic table in group 17. The element forms diatomic molecules under standard conditions, called dichlorine...
. The Center for Public Integrity
Center for Public Integrity
The Center for Public Integrity is a nonprofit organization dedicated to producing original, responsible investigative journalism on issues of public concern. The Center is non-partisan and non-advocacy and committed to transparent and comprehensive reporting both in the United States and around...
has reported that Phelps Dodge is named as a potentially responsible party in at least 13 Superfund
Superfund
Superfund is the common name for the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 , a United States federal law designed to clean up sites contaminated with hazardous substances...
toxic waste sites.
External links
- Former website (March 13, 2007 snapshot from the Internet ArchiveInternet ArchiveThe Internet Archive is a non-profit digital library with the stated mission of "universal access to all knowledge". It offers permanent storage and access to collections of digitized materials, including websites, music, moving images, and nearly 3 million public domain books. The Internet Archive...
) - Freeport-McMoRan corporate website
- Climax Molybdenum corporate website