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Toronto, February 23, 2012—According to a recent report generated by the Ontario Ministry of Tourism and Culture, the Prospectors and Developers Association of Canada’s (PDAC) Convention contributed nearly $72 million to Toronto’s economy in 2011.
If the convention’s growth trend continues—attendance has been climbing since 2009 and early registration figures are up from last year—the economic impact on the city will increase in 2012.
PDAC president Scott Jobin-Bevans says growth is likely. “The convention has really hit its stride in terms of its place in the global mineral industry. In 2011, we had over 27,000 participants from 120 different countries—we’re seeing very strong interest again this year, both at home and internationally. Early registration numbers are up from last year, reflecting both the health of the mineral industry and the tremendous networking and educational opportunities the convention offers.”
The convergence of investors, analysts, mining executives, geologists, prospectors and international government delegations takes place March 4 – 7 at the Metro Toronto Convention Centre. For more information, visit pdac.ca.
The Ontario Ministry of Tourism and Culture’s report provides an estimate of the economic impact of the 2011 PDAC Convention on the local economy in terms of GDP, employment and taxes generated. The analysis is based on information the PDAC provided to the Ministry’s Tourism Regional Economic Impact Model (TREIM).
About the PDAC The Prospectors and Developers Association of Canada (PDAC) is a national association representing the mineral exploration and development industry. The PDAC has close to 9,000 individual and corporate members.
About the PDAC International Convention, Trade Show and Investors Exchange
The Prospectors and Developers Association of Canada’s (PDAC) Convention is the mineral industry’s largest annual convention. The 2011 convention attracted nearly 28,000 attendees, including 7,000 international delegates from 120 countries. In 2011, the PDAC Convention contributed over $72 million to the local economy. The convention takes place March 4 – 7, 2012, at the Metro Toronto Convention Centre.
For media inquiries, please contact:
Carolyn Foster, Communications Specialist
Prospectors and Developers Association of Canada (PDAC)
416.362.1969 x233 or cfoster@pdac.ca
In this undated photo provided by Asarco, an employee at Asarco's smelter in Hayden, Ariz. works to process copper concentrates. The smelter has operated since 1912. Tucson-based copper-mining giant Asarco will celebrate more than 100 years of operations in Arizona today and reports that its operations are growing.
Asarco via The Arizona Republic) MARICOPA COUNTY OUT; MAGS OUT; NO SALES, Associated Press
PHOENIX — Tucson-based copper-mining giant Asarco will celebrate more than 100 years of operations in Arizona today and reports that its operations are growing.
Asarco operates the Mission mine near Sahuarita, the Ray mine near Kearny and the Silver Bell mine near Marana as well as its 101-year-old concentrator and 100-year-old smelter in Hayden, which will be celebrated along with Arizona's centennial.
State, town and county representatives are expected to be on hand for the celebration at the Hayden Golf Course, which will end with a fireworks display at dusk.
Asarco was organized in 1899 as the American Smelting and Refining Co.
It opened the Hayden smelter to process ore from the nearby Ray mine, which it did not own at the time.
It has faced many struggles in its history, including low copper prices.
Due to the Depression, the smelter was shut down in March 1933 and did not start up again until late 1937, when natural gas first came to the smelter, according to Asarco.
In May 1958, the owner of the Ray mine terminated its contract to ship concentrates to Hayden, ending a nearly 50-year relationship. By then, Asarco was starting up its own mines and mills in Arizona, with Silver Bell coming on line in 1952 and Mission in 1961, providing substitutes for the Ray concentrates.
Through exploration, Asarco continued to find copper reserves to extend the mines' lives by decades. Keeping those mines operating also has kept the smelter in business.
A company known as Kennecott operated its own smelter in the region from 1958 to 1982. After it shut down, in 1986 Asarco bought the Ray mine and again began feeding the smelter from that operation.
In 1999, Asarco was acquired by Grupo Mexico SAB. Grupo put Asarco into bankruptcy in 2005 and again acquired the company in 2009.
Asarco is expanding the Mission mine through a $60 million project expected to be finished next year. It will increase the production capacity of its copper concentrator, which processes the mine's ore.
Asarco also is spending about $5 million to possibly restart mining molybdenum at the Mission property.
The company also is considering an expansion at the Ray mine, said Tom Aldrich, vice president of environmental affairs.
Asarco operates the Mission mine near Sahuarita, the Ray mine near Kearny and the Silver Bell mine near Marana as well as its 101-year-old concentrator and 100-year-old smelter in Hayden, which will be celebrated along with Arizona's centennial.
State, town and county representatives are expected to be on hand for the celebration at the Hayden Golf Course, which will end with a fireworks display at dusk.
Asarco was organized in 1899 as the American Smelting and Refining Co.
It opened the Hayden smelter to process ore from the nearby Ray mine, which it did not own at the time.
It has faced many struggles in its history, including low copper prices.
Due to the Depression, the smelter was shut down in March 1933 and did not start up again until late 1937, when natural gas first came to the smelter, according to Asarco.
In May 1958, the owner of the Ray mine terminated its contract to ship concentrates to Hayden, ending a nearly 50-year relationship. By then, Asarco was starting up its own mines and mills in Arizona, with Silver Bell coming on line in 1952 and Mission in 1961, providing substitutes for the Ray concentrates.
Through exploration, Asarco continued to find copper reserves to extend the mines' lives by decades. Keeping those mines operating also has kept the smelter in business.
A company known as Kennecott operated its own smelter in the region from 1958 to 1982. After it shut down, in 1986 Asarco bought the Ray mine and again began feeding the smelter from that operation.
In 1999, Asarco was acquired by Grupo Mexico SAB. Grupo put Asarco into bankruptcy in 2005 and again acquired the company in 2009.
Asarco is expanding the Mission mine through a $60 million project expected to be finished next year. It will increase the production capacity of its copper concentrator, which processes the mine's ore.
Asarco also is spending about $5 million to possibly restart mining molybdenum at the Mission property.
The company also is considering an expansion at the Ray mine, said Tom Aldrich, vice president of environmental affairs.
Ariz. copper mining giant Asarco marks 100 years
"We actively, at all of our properties, are doing exploration drilling to redefine what the ore reserves are," he said.
He said when he was working at the Hayden complex in 1976, the Ray mine was predicted to operate for 30 more years.
"Now, we mine twice as much as we used to and have ore reserves for another 30 years," he said.
The mine has enough reserves to operate until 2044, according to the company.
The Hayden smelter mostly processes material from Asarco's mines but also does some processing for other mining companies, such as Phoenix-based Freeport-McMoRan Copper and Gold Inc., he said.
Once copper ore is processed at the smelter into anodes that are about 98.5 percent to 99 percent pure copper, it is shipped to Amarillo, Texas, where Asarco further refines it so it can be used for wiring, electrical components and other materials.
Asarco employs about 2,600 people, mostly in Arizona, and some of them have been working at the concentrator and smelter for generations, Aldrich said.
The centennial celebration comes amid an Environmental Protection Agency investigation into the Hayden operations.
In November, the EPA surprised Asarco with a "finding of violation," which stated that since 2005 the Hayden smelter has been in violation of air-pollution rules. EPA spokeswoman Margot Perez-Sullivan in San Francisco declined to comment because the investigation is ongoing.
He said when he was working at the Hayden complex in 1976, the Ray mine was predicted to operate for 30 more years.
"Now, we mine twice as much as we used to and have ore reserves for another 30 years," he said.
The mine has enough reserves to operate until 2044, according to the company.
The Hayden smelter mostly processes material from Asarco's mines but also does some processing for other mining companies, such as Phoenix-based Freeport-McMoRan Copper and Gold Inc., he said.
Once copper ore is processed at the smelter into anodes that are about 98.5 percent to 99 percent pure copper, it is shipped to Amarillo, Texas, where Asarco further refines it so it can be used for wiring, electrical components and other materials.
Asarco employs about 2,600 people, mostly in Arizona, and some of them have been working at the concentrator and smelter for generations, Aldrich said.
The centennial celebration comes amid an Environmental Protection Agency investigation into the Hayden operations.
In November, the EPA surprised Asarco with a "finding of violation," which stated that since 2005 the Hayden smelter has been in violation of air-pollution rules. EPA spokeswoman Margot Perez-Sullivan in San Francisco declined to comment because the investigation is ongoing.
Biggest Mining Holes
1.Mirny Diamond Mine of Siberia
2.Great Blue Hole – Belize
3.Burning Gates of Turkmenistan
4.Kimberley Big Hole - South Africa
5.Bingham Canyon Mine – Utah
6.Glory Hole in Monticello Dam California
7.Diavik Diamond Mine – Canada
8.Guatemala Sinkhole
9.Chuquicamata Copper Mine – Chile
10.Udachnaya Pipe – Russia
2.Great Blue Hole – Belize
3.Burning Gates of Turkmenistan
4.Kimberley Big Hole - South Africa
5.Bingham Canyon Mine – Utah
6.Glory Hole in Monticello Dam California
7.Diavik Diamond Mine – Canada
8.Guatemala Sinkhole
9.Chuquicamata Copper Mine – Chile
10.Udachnaya Pipe – Russia
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