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Over 60% of the newly mined copper in the U.S. comes from Arizona. When copper traded for an average of $3.30/pound, copper production generated nearly $5 billion for Arizona's economy in 2006 and $5.5 billion in 2007. The first mineral to be mined in Arizona was, as in many other regions, gold.
Currently, auctions are asking between $2 and $3 per pound for quantities of 10 to 25 pounds of coins. One auction featured 100,000 pennies -- weighing about 680 pounds -- that sold for $1,500 ...
Copper concentrate is traded either via spot contracts or under long term contracts as an intermediate product in its own right. Often the smelter sells the copper metal itself on behalf of the miner. The miner is paid the price at the time that the smelter-refiner makes the sale, not at the price on the date of delivery of the concentrate.
The low-grade copper ore could not be economically shipped to a smelter, and had to be concentrated at the site. The Cornelia Copper Company was organized by businessmen from St. Louis in 1900 to develop the property. However, early owners fumbled in their search for a suitable treatment process, and fell victim to "process men".
Traditionally bun ingots were seen as a primary product of smelting, forming at the base of a furnace beneath a layer of less dense slag.However, experimental reconstruction of copper smelting showed that regular plano-convex ingots are difficult to form within the smelting furnace, producing only small ingots or copper prills that need to be remelted.
A Katanga cross (French: croisette du Katanga), also called a handa, is a cast copper ingot in the shape of an equal-armed cross which was once used as a form of currency in parts of what is now the Democratic Republic of the Congo (DRC) in the 19th and early 20th centuries. Katanga crosses were made in various sizes, typically about 20 ...