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CYPRUS COPPER TO MOVE OFFICES TO PHOENIX AREA

 CYPRUS COPPER TO MOVE OFFICES TO PHOENIX AREA
 DENVER, March 18 /PRNewswire/ -- Cyprus Minerals Co. (NYSE: CYM)


today announced the pending move of its largest operating subsidiary, Cyprus Copper Co., to the Phoenix area in order to place management closer to the company's extensive mining operations in Arizona. Approximately 40 people presently working in the Denver headquarters of Cyprus will be moving. The move, to take place by July, is part of reorganization and cost cutting actions taken by Cyprus Minerals, which were announced earlier.
 Calvin A. Campbell, Jr., chairman, president, and chief executive officer of Cyprus Minerals, said, "This move is an important part of our plan to decentralize Cyprus by moving decision-making and accountability closer to our operations. Before we can improve profitability and grow in the future, we must get our businesses in order. A critical component of that strategy is the lowering of copper production costs in our largest business, and that is more efficiently administered from Phoenix than from Denver.
 "Company-wide we are concentrating on cost-efficient operations and marketing," Campbell continued. "Nothing happens until a sale is made. That is why we are focusing on marketing an efficient, reliable company with consistently good products and the people and service to back them. This move to Arizona will afford better opportunities for our customers to visit our operations, often critical to developing better relationships."
 Cyprus Copper employs more than 3,000 people in Arizona and pays approximately $150 million annually in wages and benefits. Cyprus' Arizona copper operations have the capacity to produce 650 million pounds of copper a year.
 Cyprus purchases more than $300 million annually in Arizona goods, services and electric power, and pays more than $20 million a year in various state taxes.
 Operations include a mine and mill at Bagdad in northwestern Arizona; a smelter, rod plant, and mine at Globe/Miami; mines and a mill at Cyprus Sierrita/Twin Buttes near Tucson; Cyprus Casa Grande in Pinal County; and Cyprus Mineral Park in Mohave County.
 "This move will place our senior management in much closer proximity to operations and will permit better contact and coordination of all of our activities. It will also save travel time and expense," said F. Steven Mooney, president of Cyprus Copper. "The Phoenix area is not only a good place to live, it is central to our operations throughout the state. The people of Arizona have been hospitable to Cyprus over the years, and we are pleased with this move."
 Cyprus Minerals is one of the leading United States copper producers. The company is also a major producer of coal, lithium, molybdenum, and talc, as well as a produr? of gold, iron ore, and zinc.
 -0- 3/18/92
 /CONTACT: Michael Rounds of Cyprus Minerals, 303-643-5186/
 (CYM) CO: Cyprus Minerals Co.; Cyprus Copper Co. ST: Colorado, Arizona IN: MNG SU:


MC -- DV005 -- 9260 03/18/92 13:03 EST
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Publication:PR Newswire
Date:Mar 18, 1992
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