Cyprus completes first phase of smelter expansion project

The first phase of a US$100-million modernization and expansion project was recently completed by Cyprus Minerals (NYSE) at its copper smelter in Miami, Ariz.

Copper concentrate feed was loaded into the electric furnace in late March, thereby resuming operations which were suspended since last November when a fire idled the smelter and accelerated the planned shutdown for modernization. The second phase of the project will be completed this July when the new ISAMELT installation begins operation. In the ensuing 12 months, the smelter’s concentrate intake is expected to rise to the design capacity of 650,000 tons annually, a 50% increase.

Cyprus Chairman Calvin Campbell says the project is one of the most important capital improvements ever undertaken by the company. “Not only will it increase our copper concentrate smelting capacity to self-sufficiency during a worldwide shortage of smelting capacity, this modernization is also expected to reduce copper production costs company-wide,” he said.