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CYPRUS AMAX COAL REACHES AGREEMENT WITH UMWA REPRESENTED MINES

 DENVER, Jan. 4 /PRNewswire/ -- Cyprus Amax Minerals Co. (NYSE: CYM) today announced that its coal subsidiary, Cyprus Amax Coal Co., reached agreement with the United Mine Workers of America for a new contract covering approximately 2,500 UMWA employees at mines in the East and the Midwest.
 The new five-year contract became effective Dec. 30, 1993, and runs until Aug. 1, 1998.
 The Cyprus Amax Coal pact is essentially the same as the new National Bituminous Coal Wage Agreement (NBCWA). The NBCWA was ratified Dec. 14, 1993, by UMWA-represented workers at Cyprus Amax and other companies, including those represented by the Bituminous Coal Operators Association. Cyprus Amax Coal miners will receive a 50-cent an hour wage increase retroactive to Feb. 1, 1993, the date upon which the previous contract expired, through 1994. A 40-cent-an-hour increase will be awarded in each of the next two years, 1995 and 1996. The contract contains "reopener" clauses for wage negotiation in the following two years.
 Cyprus Amax Minerals Co. is a leading U.S. coal producer and the nation's second largest copper producer. The company also holds significant positions in natural gas, gold, lithium, molybdenum, and iron ore.
 -0- 1/4/94
 /CONTACT: Michael Rounds of Cyprus Amax, 303-643-5186/
 (CYM)


CO: Cyprus Amax Minerals Co.; Cyprus Amax Coal Co.;
 United Mine Workers of America ST: Colorado IN: MNG SU: CON


EH-JB -- LA018 -- 8848 01/04/94 10:59 EST
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Publication:PR Newswire
Date:Jan 4, 1994
Words:235
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