Phelps Dodge Corporation
|
|
Phelps Dodge Corporation Template:NYSE was founded in 1834 by Anson Greene Phelps and William E. Dodge. Initially, the company operated an import-export trade business that shipped U.S.-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 it 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, they 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 1800s, in concert with its metal interests, Phelps Dodge Corporation had become one of the largest manufacturers of lumber and lumber products in the United States.
Today, Phelps Dodge Corporation has large copper mining operations in Bagdad, Arizona, Morenci, Arizona, Sierrita, Arizona, Miami, Arizona, and Tyrone, New Mexico, and at the El Chino mine in New Mexico. Several of these locations are providing ores rich in molybdenum as well. Presently, Phelps Dodge Corporation is initiating all required local and federal processes to open a new mine located near Safford, Arizona, and will employ approximately 350 people. In South America, the company has several very large copper mining operations going on in Chile and Peru.
The company employs more than 14,000 people worldwide.