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PHELPS DODGE ANNOUNCES TENTATIVE LABOR AGREEMENT AT CHINO MINES COMPANY

 PHOENIX, Arizona, July 5 /PRNewswire/ -- Phelps Dodge Mining Company, a division of Phelps Dodge Corporation (NYSE: PD), today announced that Chino Mines Company has reached tentative agreements on new labor contracts with the unions representing approximately 750 employees at Chino's mine, mill and smelter near Silver City, New Mexico.
 Represented employees will vote on ratification of the new agreements on Wednesday, July 7, 1993.
 The proposed agreements include a $0.35 per hour initial increase in base wages, an average $0.35 per hour wage increase in the second year, and an average $0.25 per hour wage increase in the third year. Union- represented employees at Chino also will have a wage increment based upon the price of copper. The tentative agreements also provide for improvements in pension, life insurance and other benefits and for changes to contract language. The new three-year agreements will be effective July 1, 1993, if they are ratified by Thursday, July 8.
 Contract negotiations began on June 8, in Albuquerque, New Mexico. The old contracts expired at midnight on June 30, but Chino operations continued uninterrupted while the parties continued to bargain. The parties bargained for 23 days before reaching agreement.
 Chino Mines Company is an integrated copper mining, milling and smelting operation owned two-third by Phelps Dodge Chino, Inc., a subsidiary of Phelps Dodge Corporation, and one-third by Helsel Minerals Company, a Mitsubishi company. Phelps Dodge Corporation is the world's second largest producer of copper. The company is a major mining and manufacturing concern with operations located throughout the United States and in 24 other countries.
 -0- 7/5/93
 /CONTACT: Thomas M. Foster of Phelps Dodge Corporation, 602-234-8139/
 (PD)


CO: Phelps Dodge Mining Company; Chino Mines Company ST: Arizona IN: MNG SU:

TS -- NY009 -- 8440 07/05/93 16:28 EDT
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Publication:PR Newswire
Date:Jul 5, 1993
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