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MAGMA COPPER CO. ANNOUNCES $200 MILLION REVOLVING CREDIT FACILITY

 TUCSON, Ariz., May 7 /PRNewswire/ -- Magma Copper Co. (NYSE: MCU) announced that it has entered into a five-year, $200 million revolving credit agreement. The facility was arranged by Chemical Bank as agent and includes National Westminster Bank PLC, as co- agent, The Bank of Nova Scotia, Barclays Bank PLC, Continental Bank N.A., Credit Lyonnais, First Interstate Bank of Arizona N.A., Fuji Bank Ltd., The Long-Term Credit Bank of Japan Ltd. and N.M. Rothschild and Sons Ltd.
 Douglas Purdom, Magma's vice president and chief financial officer, said, "We are very pleased with the facility, its terms and especially with the world-class group of banks who are now long-term financial partners of the company. The revolver will provide additional liquidity for Magma and will be available for general corporate purposes."
 Magma Copper Co., one of the largest primary copper producers in the United States, produces high-quality copper cathode and rod for sale to customers worldwide. Magma has operations in San Manuel, Miami, Superior, Ariz., and Ely, Nev. Magma Metals Co., a wholly owned subsidiary, operates Magma's smelting and refining complex located in San Manuel, and conducts the company's marketing and sales activities. Corporate headquarters are in Tucson.
 -0- 5/7/93
 /CONTACT: Richard P. Johnson, 602-575-5670, or Kimberly L. Wick, 602-575-5673, both of Magma Copper/
 (MCU)


CO: Magma Copper Co. ST: Arizona IN: MNG SU:

MS-JB -- SD002 -- 5781 05/07/93 08:00 EDT
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Publication:PR Newswire
Date:May 7, 1993
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