Mining News May 27, 2009

Seven Students Win Resolution Award, by Jennifer Russo

Resolution Copper Company has announced the names of seven Copper Triangle high school's students who will be participating in the Anytown Arizona Summer Leadership Program. The weeklong camp, a program of Anytown Arizona, Inc (www.anytownarizona.org) will take place the week of July 18 in Prescott. "Programs like Camp Anytown make a significant difference in the lives of young people," said Resolution Copper President and CEO David Salisbury. "We are delighted to have an opportunity to work with Anytown Arizona and to support the development of future leaders." 2009 marks the third year of Resolution Copper’s sponsorship of Camp Anytown. The company's financial contribution covers the cost of program materials, lodging, meals, and participant t-shirt and group photo. The program focuses on five key objectives: increasing student’s self-esteem, building citizenship, personal responsibility and leadership abilities; fostering an appreciation of diversity; enhancing trust, mutual understanding and respect among diverse individuals; and improving communication and conflict resolution skills. Camp Anytown is a nationally recognized, award-winning program for students in grades 9-12. Students were selected by local authorities and high school personnel, with the exception of one student selected by the Gila County Sheriff’s Office. Attendees at this year's Anytown Arizona Summer Leadership Program are: Sabrina Castillo, freshman, Superior High School, Jesse Zavala, freshman, Superior High School, Monique James, junior, San Carlos High School, Colt MacClennen, junior, Ray High School, Elizabeth Guevra, sophomore, Liberty High School, Eva Borquez, sophomore, Hayden High School, Dillon Mills, junior, Miami High School.

Resolution Copper Announces 2009 Scholarship Recipients

Resolution Copper Mining has announced the recipients of the company’s annual Resolution Copper Scholarship Program. Scholarships valued at $6,000 each were awarded to seven students from Copper Triangle communities, Apache Junction, Florence and San Carlos "This program directly impacts young people by providing them financial support, and will help ensure their future success by giving them access to higher education," said Resolution Copper President and CEO David Salisbury. "This program is a win-win for the company and the students." Students were selected by a school panel that included teachers and guidance counselors. views with students were conducted by Resolution Copper personnel. Resolution Copper staff will present the scholarship award winners with personalized plaques at their respective graduation ceremonies Recipients of Resolution Copper scholarships are: Zachary Decke-Apache Junction High School,: Jacob Silvas-Florence High School,: Eric Johnston- Globe High School,: John Avelino Estrada-Hayden High School,: John Kevin Canez-Miami High School,: Cameron Thompson-San Carlos High School,: Kelly Bullis-San Carlos High School,: Natalie Quiroz-Superior High School,: Sergio Campos-Superior High School.

Grupo Mexico Offers $1.55 Billion

Officials of Grupo Mexico are offering $1.55 BILLION dollars to try and regain control of the ASARCO Copper Mines that it lost nearly 4 years ago in bankruptcy proceedings. Yesterday ( Tuesday ), officials of the Mexico City based mining company deposited $1.3 million cash in an escrow account as part of the procedure in making their latest offer in U.S. Bankruptcy Court at Corpus Christi, Texas. Grupo's officer also includes some $250 million in notes. Satellite Industries of India, has proposed to pay $1.7 BILLION for the three ASARCO copper mines in Arizona and the company refinery at El Paso. Its offer includes $1.1 million in cash and $600 million in promissory notes. Harbinger Capital, ASARCO's main bond holder, has made its own reorganizational plan offer of $500 million to acquire the mining company.