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MAGMA COPPER CLOSES PURCHASE OF REMAINING INTEREST IN ROBINSON

   MAGMA COPPER CLOSES PURCHASE OF REMAINING INTEREST IN ROBINSON
    TUCSON, Ariz., Nov. 1 /PRNewswire/ -- Magma Copper Co. (AMEX: MCU) announced that its subsidiary, Magma Nevada Mining Co., closed the purchase of the remaining interest in the Robinson Mining District, located just west of Ely, Nev.  Magma now owns a 100 percent working interest in the property.
    The remaining 41.38 percent interest was purchased for a total of $32.25 million plus a .225 percent net smelter return royalty.
    The feasibility study, which should be completed by the end of this year, is indicating that the Robinson project could produce 250,000 tons of copper concentrate per year.  Construction could begin the middle of 1992, with full production possibly being achieved by the end of 1994.
    Magma, one of the largest primary copper producers in the United States, produces high-quality copper cathode and rod for sale to customers worldwide.  Magma also has operations in San Manuel, Miami, Superior and Humboldt, Ariz.  Corporate headquarters are in Tucson.
    -0-                       11/1/91
    /CONTACT:  Richard P. Johnson, corporate treasurer of Magma Copper, 602-575-5670/
    (MCU) CO:  Magma Copper Company ST:  Arizona IN:  MNG SU:  TNM JL-CH -- SD004 -- 0356 11/01/91 16:04 EST
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Publication:PR Newswire
Date:Nov 1, 1991
Words:200
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