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ASARCO (American Smelting and Refining Company) is a mining, smelting, and refining company based in Tucson, Arizona, which mines and processes primarily copper. The company has been a subsidiary of Grupo México since 1999.
ASARCO, a subsidiary of Grupo México, currently owns the mine, which it acquired from Kennecott Copper in 1986. [1] The Ray mine has one of the largest copper reserves in the United States, with proven and probable reserves of 835.7 million tonnes (822,500,000 long tons; 921,200,000 short tons) of ore grading 1.73% copper, as of December 31, 2018.
Mining is Grupo México's largest division, operating 14 mines and 52 plants in Mexico, Peru, USA, Argentina, Chile, Ecuador and Spain. The division operates as Americas Mining Corporation, whose main subsidiaries are Southern Copper Corporation in Mexico and Peru, ASARCO (American Smelting and Refining Company) in the United States and Minera Los Frailes in Spain.
Hayden Smelter is a copper smelter at Hayden, Arizona, owned and operated by ASARCO. It has a 305 meters (1,001 feet) tall chimney, which is the tallest free-standing structure of Arizona . It processes copper from the Ray mine .
The Toquepala mine is a large porphyry copper mine in the Tacna Province, Tacna Department, Peru. The mine is an open-pit mine producing copper, molybdenum, rhenium and silver with minor gold and zinc. [1] [2] The Toquepala mine and the Ilo smelter were opened in 1960 by Southern Peru Copper Corporation, then a subsidiary of ASARCO.
In 1952, Asarco began open pit operations in the region, and in 1954 it founded a new town - named Silver Bell - four miles to the southeast of the original town site. [1] Silver Bell survived in its new form from 1952 through 1984. Mining operations at the Silver Bell Mine eventually ceased in 1984, and the town was disbanded.
By 1901 the Guggenheims had acquired control of ASARCO, and became the dominant force in the mining industry for the next three decades. Daniel was named chairman of the board of ASARCO, and directed the trust until 1919. [3] [4] Following his father's death in 1905, Daniel assumed control of the Guggenheim family enterprises.
Cuajone represents one of the largest copper reserve in Peru and in the world having estimated reserves of 1.6 billion tonnes of ore grading 0.57% copper. [1] The Cuajone Mine was officially opened in November 1976. It was owned by Southern Peru Copper Corporation, which was a 51% subsidiary of Asarco.