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EXHIBIT D -Mining Plan <br />CHANGED FROM AM-03, AM-04, ALL TECHNICAL REVISIONS, AND THE <br />ORIGINAL PERMIT. <br />In light of current market and business perspectives, the Climax Mine's swing producer <br />status as defined in the 1989 amendment of its reclamation permit - an operation maintained in a <br />ready state with the ability to come on-line quickly in response to demand by a market <br />dominated by metallurgical applications -has become obsolete. The Climax Mine's status as a <br />swing producer as contemplated by its reclamation permit needs to be modified in accordance <br />with current economic reality. For this Amendment, the following language is provided to <br />replace the defmition of swing producer as it applies to the current status of the Climax Mine: <br />The Climax Mine will be operated in response to demand for molybdenum <br />concentrate by Climaz Molybdenum Company's chemical application customers. A <br />major factor in the Climax Mine's operations will be the extent to which chemical <br />applications' demand can be satisfied by the Henderson Mine. Based on current <br />market conditions, it is expected that near the end of the life of the Henderson Mine <br />the capital investments will be made at the Climax Mine that will enable it to replace <br />Henderson's role as Phelps Dodge's primary source of high quality molybdenum <br />concentrate, and the Henderson Mine will shift to the role of swing producer. In the <br />meantime, planning and permitting activities to enable the Climax Mine to operate <br />as a swing producer for chemical application uses in the near term, and as a <br />replacement to the Henderson Mine in the long term, are ongoing, along with <br />continuing reclamation activities. <br />