Visions - Summer 2007 - (Page 9)

AMERICA’S CONTINUED GOLD R U SH F very little hardrock mineral exploration in the past which makes it a promising area for other mineral deposits. SC Invests in Copper Mining in Arizona and Chile In 1986, Sumitomo Metal Mining and Sumitomo Corporation established Sumitomo Metal Mining Arizona to acquire 15% of the Morenci Copper mine from Phelps Dodge. The Morenci Mine is North America’s largest producer of copper and one of the largest open pit mines in the world. Located 10 miles south of Silver City, Arizona, the mine was originally established in 1872 and has been owned by Phelps Dodge and its predecessors since 1885. Located at an elevation of more than 10,000 feet above sea level, the operation employs approximately 2,000 people who work eight or 12 hour shifts. In 1991, Sumitomo Metal Mining Arizona expanded its copper mine holdings to include the established Candelabra copper mine in Chile. Phelps Dodge had discovered the copper deposit in 1987 and the mine began to produce copper seven years later. Another copper mine in Chile, Ojos del Salado, began commercial production in 1929. In 1985, Phelps Dodge became the sole owner of the mine and Sumitomo joined as a partner in 2005. For more information on the Pogo Gold Mine, please contact Susumu Takeuchi at susumu.takeuchi@sumitomocorp.com or many, when one thinks of gold mining, they imagine people standing in rivers panning for gold during the mid-1800s California Gold Rush. Although those days are long gone, America is still a significant source of mined gold. In 2006, the United States returned to being a net exporter of gold after two years of being categorized as a net importer, which means the country exported more gold than it imported. Worldwide gold production continues making yearly gains, as China, currently the world’s fourth-largest producer behind South Africa, Australia, and the U.S., makes consistent increases in production tonnage. In the United States, gold mining was made famous by the Gold Rush days that began in January of 1848 when gold was discovered at Sutters Mill in California. Toward the end of the 1800s, lode gold was discovered in Alaska, which triggered prospectors to move north for dreams of new wealth. Today, Nevada dominates domestic gold production, accounting for 82% of the U.S. total in 2006. U.S. gold is produced at about 50 lode mines (including Pogo Gold Mine), a dozen or so large placer mines, and numerous smaller placer mines located mostly in Alaska and the Western United States. Placer mining (pronounced “plass-er”) is the simplest technique to extract gold from ore. One such technique is panning, which was typical during the Gold Rush days: mined ore is placed in a large metal pan, combined with a large amount of water, and agitated so that the denser gold particles sink to the bottom. In Alaska, the Pogo Mine is a lode mine, known as hard-rock mining, which refers to a technique of underground mining used to excavate hard minerals containing metals like copper, gold, and zinc. A California Gold Rush handbill. Sumitomo Corporation of America 9

Table of Contents Feed for the Digital Edition of Visions - Summer 2007

Contents Meet SCOA’s New President & CEO SCOA Delivers First APMs to Washington Dulles International Airport SC Minerals America to Mine Alaskan Gold Trade Show Marketing Stimulates SCOA Business Unique Machine Gets Dual Quality Certifications SCOA & HSSSI: Big Players in Next Phase of NASA Space Exploration

Visions - Summer 2007

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.