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JUSTICE DEPARTMENT REQUESTS INFORMATION FROM AMAX AND CYPRUS MINERALS

 NEW YORK Aug. 2 /PRNewswire/ -- AMAX Inc. (NYSE: AMX) and Cyprus Minerals Company (NYSE: CYM) announced today that the companies each received a request from the Department of Justice on July 30 for additional information under the Hart-Scott-Rodino Antitrust Improvements Act regarding the intended merger of AMAX and Cyprus.
 AMAX and Cyprus officials indicated that the request from the Department of Justice relates to the molybdenum business of both companies.
 AMAX and Cyprus officials also indicated that the companies anticipated questions concerning the combination of their molybdenum businesses and that, through preliminary discussions with representatives of the Department of Justice, the companies have expressed their willingness to work with the Department of Justice to attempt to resolve any antitrust concerns the Department of Justice may have regarding the merger.
 There can be no assurance that the companies will be able to satisfy any objections the Department of Justice may have to the merger.
 AMAX and Cyprus intend to respond to the Department of Justice requests in a timely manner.
 AMAX is a worldwide supplier of metals and energy. AMAX is the third largest aluminum company in the United States and the nation's third largest coal producer. It is also a leading producer of natural gas, gold and molybdenum.
 Cyprus is a major producer of copper, coal and lithium. The company also produces molybdenum and iron ore.
 The proposed merger of AMAX and Cyprus, the related spin off to AMAX shareholders of Amax's aluminum company, Alumax Inc., and the related distribution to AMAX shareholders of an approximately 28 percent interest in Amax Gold Inc. (NYSE: AU) were announced in May.
 -0- 8/2/93
 /CONTACT: Jerry Cooper of AMAX Inc., 212-856-5982, or Richard Hagman of Cyprus Minerals, 303-643-5362/
 (AMX CYM)


CO: AMAX Inc.; Cyprus Minerals Company ST: New York IN: MNG SU: TNM

CK -- NY069 -- 8381 08/02/93 12:47 EDT
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Publication:PR Newswire
Date:Aug 2, 1993
Words:311
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