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Arizona Copper Adds $19 Billion to U.S. Economy as Mining Jobs Grow in StatePhoenix, July 25, 2006 - Arizona's copper industry added $19 billion to the national economy in 2005, as activity and mining jobs in the state grew in response to worldwide demand and higher metals prices, according to a study released today. For Arizona alone, the copper industry directly and indirectly added more than $3.5 billion to the economy. The figure includes nearly $1.1 billion in personal income, about $2.2 billion in business income and $223 million in state and local government revenues. The copper industry employed 6,900 Arizonans directly in 2005, up 8 percent from 6,400 the year before. Average annual pay rose to almost $59,400, from about $57,000. Directly and indirectly, the industry accounted for about 22,000 jobs in the state. "Arizona produces more than 60 percent of the nation's copper," said John Low, chairman of the Arizona Mining Association, which commissions the annual report. "Mining continues to provide an important component of the state's economy, a vital element of the nation's resources, and the building blocks of economic growth and modernization around the world." Spurring the growth have been higher prices for copper and for byproducts often found with copper - including molybdenum, silver and gold. The value of copper produced in Arizona rose 36 percent from the year before, to more than $3.5 billion. However, the amount of copper mined in the state dropped about 5 percent last year, to about 766,000 tons from about 804,000 tons the year before. The decline in part reflects lower ore grades at older Arizona mines. All of these figures and more are contained in the most recent study of the industry's economic impact prepared by Dr. George F. Leaming of the Western Economic Analysis Center in Marana. Dr. Leaming has been monitoring and analyzing the industry since 1973. Copies of the report are available from the Arizona Mining Association. Arizona copper producers are ASARCO LLC., BHP Copper Inc., and Phelps Dodge Corporation, all members of the Arizona Mining Association. Other association members that have active operations in Arizona include Chemical Lime, Drake Stone Products and Peabody Energy. Contact Ken Vaughn, (602) 366-8318 |
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