In many ways, Copper is the essential element to a green economy. Renewable, sustainable energy sources and new technologies will require tremendous amounts of copper, with the average person already using more than 1,500 pounds of copper in a lifetime.
New transmission and distribution systems for renewable energy will require millions of pounds of copper. A single wind energy turbine contains more than one ton of copper, and hybrid cars use twice the copper of their traditional counterparts.
The list goes on and on: Copper is necessary for distributing solar heated water, and copper pipes remain the most energy efficient option. New low-cost photovoltaic solar panels rely on copper, and new technologies and their copper wiring will play a key role in Arizona’s future economy.
Yet while our renewable future depends on copper, today 34 percent of our supply comes from foreign countries.
That is one reason why the General Mining Act of 1872 continues to guarantee the ability to mine claims such as Rosemont Copper’s that are essential for lowering our dependency on foreign copper.
Located in an existing mining district on the east side of the Santa Rita Mountains, Rosemont Copper will set a standard for sustainable practices, including using solar power, consuming less than half the water as traditional mines, and reclaiming the site as permanent open space while recontouring and revegetating throughout the life of the mine.
Rosemont is committed to import water from the Central Arizona Project Canal to recharge pumped groundwater, ensuring neutral impact to local groundwater sources. Rosemont has also agreed to guarantee the viability of private wells in the pumping vicinity near Sahuarita.
Permits will only be issued once proper environmental protections are ensured by local, state, and federal agencies.
Dramatic Economic Benefits
A recent economic assessment, independently conducted by Arizona State University and released by the Arizona Department of Mines and Mineral Resources (DMMR), shows a significant boost in local, state and national economic impacts from Rosemont Copper, adding an average of 4,200 jobs each year and increasing revenue by $681 million to the State of Arizona – with lasting economic benefits even after the project is completed.
The study, conducted by the L. William Seidman Research Institute at ASU’s W. P. Carey School of Business, looked at economic impacts in Cochise, Pima and Santa Cruz Counties as a single region, and assessed the effects on the State of Arizona as a whole as well as on the United States.
The combined economies of three counties will realize t $15 billion in new economic activity because of Rosemont Copper’s production. This will result in $140 million per year in additional income to residents, and $19 million per year more to local governments, as well as a total of 2,100 additional jobs for residents of the three-county area.
Direct employees of the mine will receive an average annual salary of $59,000.
Statewide, Arizona is expected to gain significantly. The project’s four-year engineering and construction phase alone will yield an average annual increase of $122 million in economic activity, $45 million per year in additional income to state residents, and $6 million per year in revenues for the state government.
During the active life of the project, the State of Arizona will see an average annual increase of $907 million per year in economic activity, $214 million in residents’ income, and $32 million in state revenues. The project will support 800 additional jobs for Arizona residents above the 2,100 jobs added in the local area.
The permanent positive impact of Rosemont Copper on the statewide economy, even after the project’s completion, includes $111 million more per year in economic activity, a $96 million annual boost to residents’ incomes, 500 more jobs and $4 million more each year to the state’s government revenues than if Rosemont had never existed.
There are economic benefits to the nation as well.
Rosemont Copper will add $1.3 billion per year to the U.S. economy, 1,300 additional jobs for US residents (on top of the 2,900 new jobs for Arizonans), $352 million a year in additional income to American residents, and $128 million in federal government revenues.
Over this entire period, total gains to the U.S. economy add up to $27 billion in output, $15 billion in gross domestic product, $8 billion in personal income and $3 billion in federal government revenues.
The economic analysis is based on conservative prices of $1.75 per lb. for copper, $15.00 per lb. for molybdenum, and $10.00 per ounce for silver.
The full economic study is available at www.mines.az.gov.
Honoring Arizona’s Mining Past
From the early Native Americans who dug for minerals, to the rugged pioneers who settled the state in search of a better life, to the hard working men and women today who produce more copper than every other state combined—mining has always been a part of Arizona.
Rosemont Copper’s vision is to utilize the latest mining technology and best practices to create a bridge from Arizona’s mining past to a high-tech, renewable future, providing more than 10 percent of the U.S copper supply while using half the land area of older Pima County mines.
Along the way, the project’s dramatic economic benefits promise to give the Arizona economy a much-needed boost, and put thousands of people to work.
To learn more about Rosemont Copper, visit www.RosemontCopper.com.