EPA’s final* ruling on CO2
7 months ago
blog of the State Geologist of Arizona
The Florence Town Council voted 7-0 on Monday to take 1,187 acres of private land by eminent domain from Curis Resources which would stop them from developing an in situ copper recovery project on the lands, according to a story in the Phoenix Business Journal. Real estate developers have been battling the copper project over claims it will endanger groundwater supplies. The Town has previously shut down the Curis offices over driveway access and office water service. They also banned use of sulfuric acid for mining but not other uses. [Right, land ownership around copper project. Credit, Curis Resources]The base case economics of the project indicate pretax Net Present Value (NPV) of US$748 million with an Internal Rate of Return (IRR) of 38 percent
Life of project direct operating cost is estimated at US$0.79 per pound copper recovered. This is considered to be among the lowest cost copper producers globally.
Royalties paid to Arizona State Land Department over the life of the project will be approximately $162 million.
Operations are planned to occur on land owned by and leased by Curis from the Arizona State Land Department for a total of 13 years. The first nine years of copper production will occur exclusively on state land and is scheduled to begin in 2016. In year 10, production would expand on to private patented land owned by Curis.
Norton brings more than 25 years of experience in government affairs, management, public relations, marketing and development to her new role.Norton most recently served as Executive Director of a local non-profit, overseeing all operations, management and fundraising. Since 2006, she has also been a consultant to various small businesses and non-profit organizations with experience in research, political campaigns and government relations."We are very pleased that Kelly is now leading the AMA and believe her expertise will be invaluable in supporting a responsible, sustainable and safe mining industry in Arizona,” said Francis McAllister, Chairman of the Arizona Mining Association. “Norton’s immediate focus will be to provide a stronger strategic voice for this essential industry, so important for the economic well-being of Arizona and the nation.”“One of my top priorities will be to position Arizona as a premier location for mining investment in the United States,” Norton said. “Arizona mining companies have incredible opportunities to create more jobs and economic benefits for our state.”In 2011, the hard rock mining industry in Arizona had a total economic impact of $4.6 billion on the state’s economy and generated an estimated 49,800 jobs for Arizonans. Mining has been an important part of Arizona since before it became a state. Copper is one of the 5 C’s along with Cotton, Climate, Cattle and Citrus, which helped bring people to the state and create a viable economic base. For more, visit www.azmining.com.About the AMAFounded in 1965, AMA is a non-profit business league comprised of entities engaged in metal mining, mineral exploration, development, and production of copper, molybdenum, coal, uranium, gold, silver and other valuable minerals in Arizona. The AMA represents 28 mining-related companies and 12 consulting and legal firms that have operations or offices in Arizona. The AMA is the primary advocate of the Arizona mining industry through promoting sound public policy at all levels of government, educating the public about the benefits of mining and supporting the sustainability of a safe and responsible mining industry.
The Arizona Department of Transportation has been granted $2 million in immediate federal aid that can be used to continue investigating the cause of a landslide on a stretch of US 89 last month south of Page.
Following Governor Jan Brewer’s Declaration of Emergency last week, ADOT asked the Federal Highway Administration for the quick release of emergency relief funds and submitted an initial estimate to complete repairs of $35 million. This estimate may change as further information about the landslide is gathered by engineers.
The quick release funds will be used to assess the damage and the stability of the mountain slope, and conduct emergency operations.
The Federal Highway Administration’s emergency relief program reimburses state and local agencies for the repair or reconstruction of highways, roads and bridges that are damaged in natural disasters and catastrophic failures.
“Our budget for emergencies is very limited, and local governments have even greater financial constraints with limited cash available to fund emergencies,” said Jennifer Toth, ADOT deputy director for transportation. “This initial allocation serves as a down payment on the overall emergency relief needs for US 89. It will offset the cost for the geotechnical investigation of the landslide area to determine short- and long-term options.”
ADOT is currently conducting a geological investigation to determine the stability of the mountain slope in the Echo Cliffs. The agency is also performing damage assessments in the area and a more accurate estimate will be available in the future.
US 89 is currently closed between the US 89A junction near Bitter Springs to the State Route 98 junction near Page (mileposts 523-546). The highway has approximately 500 feet of damage, including 150 feet of pavement that settled four to six feet, due to a landslide and failure of the slope during the early morning hours on Feb. 20.
While US 89 remains closed indefinitely, the primary detour route is to take US 160 to SR 98 toward Page. Drivers also have the option to take US 89A north to Marble Canyon toward Fredonia to reconnect to US 89 in Kanab, Utah.
For up-to-date information on the US 89 closure, please visit www.azdot.gov/us89.