Ore from a Morenci mine is loaded onto the Coronado Railroad which hauls material from the mines around Morenci to smelters in Clifton.

‘Little Emma’ Steam Engine Brings New Era of Mining to Morenci District

1880: The first industrial railroad in the Arizona territory has begun carrying ore from the base of the Longfellow mine in Morenci to the smelters in Clifton, replacing mule-drawn carts with a steam engine shipped from Pittsburgh.

The Coronado Railroad is a 20-inch “baby gauge” system built by Henry Lesinsky, co-founder of the Longfellow Copper Mining Co., which has been mining in the Morenci area almost since the discovery of rich deposits of copper there in 1870. Lesinsky purchased the steam-driven locomotive, dubbed “Little Emma,” and had it shipped from Pittsburgh to New York, around the Cape Horn of South America for delivery to San Francisco. From there, it was sent by rail to Fort Yuma in Arizona territory and then by ox team to Clifton.

Work on the project began in 1879. The line along Chase Creek is about 5 miles long.

Phelps Dodge Consolidates Control of Clifton-Morenci Mining with Acquisition of the Arizona Copper Co.

May 3, 1921: Phelps Dodge Corp. has acquired complete control of the Morenci copper mining district with its acquisition of the Arizona Copper Company, Ltd. The deal includes the mines at Longfellow, Metcalf, Coronado and Humbolt, as well as rail lines and townsite properties.

Phelps Dodge entered the copper mining business in Morenci in 1881 with its investment in the Detroit Copper Mining Co., and in 1897 obtained complete control of that company. Since then, the Detroit and Arizona copper companies have competed in the Clifton-Morenci district, one of the nation’s richest copper producing areas. The Arizona Copper Company has long been controlled by Scottish investors operating exclusively in the area.

A pair of miners in front of the Joy shaft, part of the Morenci operation that was fully acquired by Phelps Dodge in 1921.

A poster describes why molybdenum is vital to the U.S. war effort during World War II.

Climax Mine Named Critical Minerals Facility by War Production Board

Early 1942: The Climax Molybdenum Mine in Colorado has been designated as a critical minerals facility by the War Production Board.

The board was created in January in response to the December 1941, attack on Pearl Harbor to prioritize industrial output to support America’s war effort. Molybdenum is essential for war production because it is used to harden and strengthen steel needed for things like gun barrels, armor plating, aircraft engines and ships.

Climax is one of the top producers of molybdenum in the world. While the designation did not occur on a specific date, the Climax facility meets the requirements to be deemed a national priority.

Merger of Freeport Minerals and McMoRan Oil and Gas Produces Freeport-McMoRan, a Mining Company with Global Reach

April 1981: Global miner Freeport Minerals Co. has combined with McMoRan Oil and Gas Co. to form a new mining-based venture called Freeport-McMoRan Inc., one of the largest corporate mergers in the history of Wall Street.

The new venture will focus on mining copper, gold, silver and uranium; oil and gas production; and agricultural minerals.

Freeport and McMoRan had worked together successfully on previous projects, which led to the consolidation, said Jim Bob Moffett, co-founder of the McMoRan company who will be Chief Executive Officer of the new venture.

Freeport began in 1912 as Freeport Sulphur Co., which was created to meet the world’s increasing demand for sulphur during the industrial age. The company later became interested in minerals and the potential of overseas deposits in areas such as Indonesia. By 1971, the company’s activities had become so diverse that it changed its name to Freeport Minerals Co.

Jim Bob Moffett (left), Ken McWilliams Jr. and Mack Rankin, founders of McMoRan Oil & Gas Co.

Moffett and two partners, Ken McWilliams and Mack Rankin, started McMoRan Exploration Co., using an acronym of their last names for the company’s title. The company was focused on oil and gas exploration in the Gulf Coast area and offshore on the shelf of the Gulf of Mexico. In 1979, the name was changed from McMoRan Exploration Co. to McMoRan Oil & Gas Company.

Company leaders celebrate completion of the Freeport-McMoRan-Phelps Dodge merger by ringing the closing bell at the New York Stock Exchange.

FCX Completes Acquisition of Phelps Dodge Corp. Creating World’s Largest Publicly Traded Copper Company

March 19, 2007: Freeport-McMoRan Copper & Gold Inc. announced that it has completed its acquisition of Phelps Dodge Corp., creating the world’s largest publicly traded copper company.

In this $26 billion transaction, Phelps Dodge shareholders received $88 in cash ($18 billion in total) and 0.67 of a share of FCX’s common stock (137 million shares in total), equivalent to a value of $128.68 per Phelps Dodge share based on the closing price of FCX’s common stock on March 16, 2007. FCX currently has approximately 334 million shares outstanding.