Later History
- In 1979 Cyprus Mines Corporation was acquired by Amoco Corporation. Amoco expanded Cyprus into a diversified worldwide mining company.
- Amoco spun off Cyprus Minerals Company in 1985. In 1986, Cyprus acquired the Sierrita copper and molybdenum mine near Tucson, Arizona.
- In 1993, AMAX merged with the Cyprus Minerals Company to form Cyprus Amax Minerals Company. Cyprus-Amax was the world's leading producer of molybdenum and lithium, and a leading producer of copper and coal. The company had operations in 24 states and on six continents.
- In late 1999, Cyprus Amax Minerals was acquired by Phelps Dodge Corporation, which in turn was acquired by Freeport-McMoRan (NYSE: FCX) in 2007, forming the world's largest copper producer.
Read more about this topic: Cyprus Mines Corporation
Famous quotes containing the word history:
“In front of these sinister facts, the first lesson of history is the good of evil. Good is a good doctor, but Bad is sometimes a better.”
—Ralph Waldo Emerson (18031882)
“Psychology keeps trying to vindicate human nature. History keeps undermining the effort.”
—Mason Cooley (b. 1927)