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MAGMA COPPER REGISTERS NEW DEBT SECURITIES

 MAGMA COPPER REGISTERS NEW DEBT SECURITIES
 TUCSON, Ariz., Nov. 25 /PRNewswire/ -- Magma Copper Company


(AMEX: MCU) announced today that it has filed with the Securities and Exchange Commission a "shelf" registration statement to issue up to $250 million of publicly-traded debt securities. If any debt securities are issued, the company anticipates that a substantial portion of the net proceeds would be used to retire or redeem existing debt.
 The company expects that any new issue would have a lower interest rate than its two publicly traded debt issues, the Copper Interest-Indexed Senior Subordinated Notes, due 1998 (AMEX: MCUC) and the Subordinated Reset Debentures, due 2001 (AMEX: MCUD), which are currently paying interest at 14.6 percent and 14.5 percent, respectively.
 According to J. Burgess Winter, Magma's president and chief executive officer, "The filing of the 'shelf' registration statement reflects our desire to take advantage of favorable market conditions and our improved creditworthiness, affirmed by S&P's recent announcement that it had upgraded the credit rating of our subordinated debt to 'BB-' and senior debt to 'BB+'."
 Magma Copper Company, 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. Corporate headquarters are in Tucson.
 -0- 11/25/91
 /CONTACT: Richard P. Johnson, corporate treasurer of Magma Copper, 602-575-5670/
 (MCU MCUC MCUD) CO: Magma Copper Company ST: Arizona IN: MNG SU:


CH -- SD003 -- 7032 11/25/91 16:54 EST
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Publication:PR Newswire
Date:Nov 25, 1991
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