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Page 1 of 5 <br />Sorenson, Allen <br />From: Pineda, Loretta <br />Sent: Wednesday, December 05, 2007 10:56 AM <br />To: Pineda, Loretta; Berry, David; Sorenson, Allen; Mount, Carl; Waldron, Tony <br />Cc: McLemore, Jill; Cattany, Ron <br />Subject: RE: Climax story <br />~azette.com <br />ttChe (1nazette <br />Plans to reopen mine are on again <br />Excitement about jobs tempered with memories of past <br />busts <br />By R. SCOTT RAPPOLD <br />December 5, 2007 - 7:07AM <br />Perhaps more than any other place in Colorado, Leadville is the town that mining built <br />These days,, it's known more for outdoor recreation and stunning mountain scenery -some of the state's most popular <br />mountains to climb loom over the city -but major mining is returning to this area, along with hundreds of new jobs. <br />Freeport-McMoRan Copper & Gold Inc. announced Tuesday that it would go ahead with plans to reopen the Climax <br />molybdenum mine outside of Leadville, once the largest such mine in the world. <br />This is a mountain town used to the boom and bust cycle, once so populous it challenged Denver to become the state <br />capital. So the news was greeted with excitement tempered with the memory of past busts, like the gradual shutdown of <br />the mine, starting in 1983, that left Leadville in economic ruin. <br />"The feeling of the whole community at large is we're very excited about this opportunity, but we've learned from the <br />past you don't put all your eggs in one basket," said Heather Scanlon, executive director of the Leadville Chamber of <br />Commerce. <br />"It will add to our diversity, but we won't be completely dependent on mining," Scanlon said. <br />Last year, mine owner Phelps Dodge Corp., based in Arizona, announced plans for the reopening, spurred by <br />skyrocketing molybdenum prices. That plan was cast into doubt when Phelps Dodge was acquired by Phoenix-based <br />Freeport-McMoRan. <br />That company's board of directors decided Tuesday to follow through with the plan, said spokesman Ken Vaughn. <br />The company expects to begin construction of buildings and expansion of the current mine next spring, which will create <br />500 temporary jobs. <br />When production begins at the pit mine in 2010, it will mean 350 jobs for the area. <br />12/5/2007 <br />