Cyprus Mines Corporation - Later History

Later History

  • In 1979 Cyprus Mines Corporation was acquired by Amoco Corporation. Amoco expanded Cyprus into a diversified worldwide mining company.
  • Amoco spun off Cyprus Minerals Company in 1985. In 1986, Cyprus acquired the Sierrita copper and molybdenum mine near Tucson, Arizona.
  • In 1993, AMAX merged with the Cyprus Minerals Company to form Cyprus Amax Minerals Company. Cyprus-Amax was the world's leading producer of molybdenum and lithium, and a leading producer of copper and coal. The company had operations in 24 states and on six continents.
  • In late 1999, Cyprus Amax Minerals was acquired by Phelps Dodge Corporation, which in turn was acquired by Freeport-McMoRan (NYSE: FCX) in 2007, forming the world's largest copper producer.

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