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CYPRUS AMAX TO REDEEM 8 1/2 PERCENT SINKING FUND DEBENTURES DUE 2001

 DENVER, Nov. 23 /PRNewswire/ -- Cyprus Amax Minerals Co. (NYSE: CYM) and Cyprus Mines Corp., its subsidiary, announced today that they intend to call for redemption on Dec. 22, 1993 all of their outstanding 8 1/2 Percent Sinking Fund Debentures Due April 15, 2001. The redemption price for each $1,000 principal amount of the Debentures will be $1,012.80 plus accrued interest to the redemption date of $16.05, for a total redemption price of $1,028.85. A notice of redemption will be mailed to all holders of record of the Debentures. Bank of America, 701 South Western Avenue, Glendale, CA 91201, is the Trustee for the Debentures. Debentures may also be delivered to Bank of America, 2 Rector St., New York, NY 10006.
 The aggregate principal amount of the Debentures outstanding is approximately $52 million. On and after the redemption date, interest will cease to accrue on the Debentures. Redemption of the Debentures and refinancing the debt at current interest rates results in significant reduction in interest costs.
 Cyprus Amax Minerals Co. is the second-largest U.S. copper producer and one of the nation's largest coal producers. Cyprus Amax also holds significant positions in oil and natural gas, gold, lithium, molybdenum and iron ore.
 -0- 11/23/93
 /CONTACT: Ruthann C. Moomy, 303-643-5055/
 (CYM)


CO: Cyprus Amax Minerals Co. ST: Colorado IN: MNG SU:

EH -- LA018 -- 7180 11/23/93 10:04 EST
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Publication:PR Newswire
Date:Nov 23, 1993
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