Phelps Dodge
The Phelps Dodge Corporation was an American company in the field of copper and molybdenum mining industry and was acquired in March 2007 by Freeport McMoRan -.
It was founded in 1834 by Anson Green Phelps and William E. Dodge. Initially, the company was operating in the import - export trade, embarked grown in the United States cotton to England and brought on the return trip tin, iron and copper and other metals to the United States.
Over the decades, the company began assembling his own mines, as the Americans in the west minerals, particularly copper but discovered. The company focused on copper and copper cable products for the growing American economy. During the Industrial Revolution, the company began investing in new rail lines, especially around its own position in the western U.S. to strengthen for mines (especially in the copper-rich Arizona). In the last decades of the 19th century, the Phelps Dodge Corporation and wood and wood products began in addition to their metals offer.
1881, the Company acquired a majority stake in the Detroit Copper Mining Company of Arizona.
Currently, Phelps Dodge Corporation owner of copper mines in Baghdad, Morenci (Arizona ), Sierrita (Arizona ), Miami (Arizona ) and Tyrone (New Mexico ) and El Chino Mine ( New Mexico). Where molybdenum is reduced.
In South America, the company has several very large copper mines in Chile and Peru. In the Democratic Republic of Congo is the company's largest majority owner and initiator of the Tenke Fungurume project, which may represent the world's largest copper / cobalt mine mine project.
The U.S. copper group Phelps Dodge announced in June 2006 for 40 billion U.S. dollars on the purchase of two Canadian mining companies. With the acquisition of Inco and Falconbridge the world's largest nickel producer would also become the world's largest publicly traded copper producer from the company based in Phoenix. The acquisition but failed 2006: Falconbridge was acquired by the Swiss company Xstrata, Inco by the Brazilian mining company Companhia Vale do Rio Doce ( CVRD ).
The company employs more than 13,500 employees and workers worldwide.
On 19 November 2006, the U.S. company Freeport McMoRan, announces that it plans to take over the company Phelps Dodge. In March 2007, the acquisition was final.