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MAGMA COPPER CO.'S BOARD OF DIRECTORS APPROVES DEVELOPMENT OF KALAMAZOO OREBODY

 TUCSON, Ariz., March 19 /PRNewswire/ -- Magma Copper Co. (NYSE: MCU) announced today that its board of directors has approved the development of the Kalamazoo orebody. This project will extend the life of the San Manuel underground operation by 12 years to the year 2009, thereby saving 1,300 jobs.
 Kalamazoo is a major orebody lying deeper than, and adjacent to, the San Manuel orebody. It contains 163 million tons of ore at .705 percent net sulfide copper and will add 2.3 billion pounds of recoverable copper to Magma's reserves.
 Production from the Kalamazoo orebody is scheduled to be phased in with the depletion of the San Manuel orebody over the period from 1997 through 1999. The company estimates that production from this deposit will average 200 million pounds of copper per year. The total capital cost of the project will be approximately $135 million.
 J. Burgess Winter, Magma's president and chief executive officer, commented: "We are extremely pleased with the board's decision to go forward with the Kalamazoo as it is an important component of our long-term growth strategy. The employees at the San Manuel Underground Mine have worked hard to increase productivity to levels which make mining the Kalamazoo attractive. The cost reductions resulting from the improvements will continue."
 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 and Humboldt, 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- 3/19/93
 /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:

JL-KJ -- SD001 -- 7759 03/19/93 08:00 EST
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Publication:PR Newswire
Date:Mar 19, 1993
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