1.6 Billion tons of copper...... not good!

[frugi]

I hope the price of copper isnt going down...

http://www.foxnews.com/politics/2014/12/22/fed-land-swap-gives-go-ahead-to-arizona-16b-ton-copper-mega-mine/

SENATE
Fed land swap gives go-ahead to Arizona's 1.6B-ton copper mega-mine
By Malia ZimmermanPublished December 22, 2014FoxNews.com
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minepic1.jpg

The shaft, 28 feet in diameter and 1.3 miles straight down, is the deepest in the U.S. (Resolution Mine Co.)
In Arizona’s Copper Triangle, 1.6 billion tons of copper ore has been trapped beneath 7,000 feet of rock for billions of years and under a pile of paperwork for a few more, but a development last week has finally put the motherlode of precious metal within reach.

Geologists estimate Resolution Mine could supply the country with 25 percent of its copper needs for the next 40 years, for everything from home and building construction, car manufacturing, power connectivity and wind turbines to medical supplies, appliances and money. Resolution Mining Company, a joint project of two of the world's biggest mining firms, Rio Tinto and BHP Billiton, has already spent $1.2 billion to dig a 28-foot-in-diameter shaft some 1.3 miles down, but until just days ago, environmental concerns and the complaints of Native Americans left it uncertain whether the mine would become an engine of Arizona's economy, or remain merely an impressive hole in the ground.


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Environmentalists and Native Americans say an expansive mine could cause a collapse on the surface, destroying the land's beauty. (Resolution MIne Co.)
“Environmentalist extremist groups have done everything they can to kill it," said Rep. Matt Salmon, R-Ariz. "However, the environmental impact is incredibly minimal. The project has been studied for a decade. Detractors are taking extreme positions that are not based on sound science.”

Buried deep in the 1,600-page National Defense Authorization Act for Fiscal Year 2015 that President Obama signed last week was language facilitating a land swap in which the mining company will get 2,400 acres of federally owned land surrounding the mine in the Oak Flat area of the Tonto National Forest in exchange for 5,300 acres of its pristine private land. The deal paves the way for full build-out of the mine, near Superior, 60 miles east of Phoenix. It sits among 80 other active mines in the Arizona Copper Triangle, but once operational, will be the largest in the country - by far.

The project’s most vocal critic of the project, Terry Rambler, chairman of the San Carlos Apache Tribe, said the vast dig that will spread outward from the bottom of the shaft could cause the surrounding territory, which he considers Apache ancestral land, to collapse. Rambler said the national forest is sacred, and bears the name of the Tonto Apaches, who were forced from the Oak Flat area in the 1870s and imprisoned at Camp Verde Reservation.

“Environmentalist extremist groups have done everything they can to kill it."
- Rep. Matt Salmon, R-Ariz.
"Oak Flat is a place of irreplaceable beauty," Rambler said in a statement. "Resolution Copper plans to use the highly destructive block cave mining method to remove one cubic mile of ore – the equivalent of 1,400 stadiums – 7,000 feet beneath the surface of the earth without replacing any of the earth removed because it is the cheapest form of mining. Resolution Copper itself admits that the surface will collapse, creating a crater visible from outer space and destroying forever our place of worship."

But Salmon said the mine will bring thousands of much-needed jobs to Arizona.

“Arizona has been really struggling since 2008," Salmon said. "When there was a downturn in the economy, Arizona was hit harder than other states, and from a jobs point of view, we’ve been slow to come out of it.”

Resolution Copper will invest $6 billion more, creating 3,700 mining-related jobs and generating more than $61 billion to the state over the life of the mine, according to estimates The company also will set up a refining plant in Utah.

“This mine will be incredibly important to our economy,” Salmon said.

Glenn Hamer, president and CEO of the Arizona Chamber of Commerce, said in a statement the mine will mean $20 billion in tax revenue, $6 billion of which goes to state coffers, and another $220 million in annual wages.

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Native American leader Terry Rambler, (r.), shown here with the president, says the land is sacred Apache territory. (Indianz.com)
Critics have noted the copper won’t all be used in the United States, but Salmon said Americans should be proud to export a product like copper in a global economy.

“Whether sold domestically or sold in other countries, it doesn’t matter. The mine is creating American jobs,” Salmon said.

“To the extent that a part of the copper is exported from the United States, that is a good thing, in that it addresses our trade imbalance with like places like China, Korea and Japan,” Todd Malan, vice President of external affairs for Rio Tinto PLC said in a phone interview.

A 7.5-mile plot along the Lower San Pedro River deemed by the Nature Conservancy as one of the “Last Great Places on Earth,” is among the properties Resolution Copper will turn over to the government.

Resolution Copper also will cede several other parcels including a 940-acre area next to a federal conservation area; a 149-acre property with structure ruins, petroglyphs and grinding sites, and the Apache Leap, a famous Apache warrior battleground site important to the San Carlos Apache.Resolution Copper must undergo strict regulatory review over the next four to five years, Malan said.

Proponents in Congress inserted the measure into the Defense Appropriation bill after separate legislation known as The Southeast Arizona Land Exchange Conservation Act, stalled for six years. In a joint statement, Arizona senators John McCain and Jeff Flake defended placing it in a defense bill.

“To maintain the strength of the most technologically-advanced military in the world, America’s armed forces need stable supplies of copper for their equipment, ammunition, and electronics," they wrote. "In fact, copper is the second-most utilized mineral by the Department of Defense, and the Pentagon has labeled it an ‘essential mineral.’”

They called the land exchange a “game-changer for an area of Arizona facing grave economic challenges” and “victory for the State of Arizona, after years of hard work.”

[frugi]

here are some of the comments for the article. I personally think there is more relevant information in peoples comments than the actual article. In this case, I have not read the comments yet, just hurried to get them posted next to the article i posted.

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craignewtons 5 minutes ago
Indians? I thought we eliminated that bunch? Somebody leave the reservation gates open?

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deercreekgary
deercreekgary 13 minutes ago
Remember the Commander in lies can change anything with his poisonous pen

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johngielisch
johngielisch 21 minutes ago
Good. Start digging.

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AmericaneedsaPresident
AmericaneedsaPresident 34 minutes ago
Be interesting to know how much of it will be going to China.

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klintmoorez
klintmoorez 37 minutes ago
If you want to live your dreams like I'm living mine go to the website Gold Trading Academy, I believe you can just Google them and find them. These guys will teach you how to trade and you can make all the money you need to in order to live a great lifestyle. Then move to Thailand like I have from Florida and really enjoy yourself like I am. The Internet here in Thailand works great for trading! Plus you can't beat the women.

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HelloImJesus
HelloImJesus 29 minutes ago
@klintmoorez I made a fortune in penny stocks myself. I'm happy for you. Do you know my brother Bullion Bob, he's into gold trading too? He made bazillions then lost it all to a Nigerian prince. Be careful.

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Tim1983
Tim1983 40 minutes ago
What a terrible thing to do. I'm going to get on my Ipad, which contains petroleum products, copper, gold, silicon semiconductors, etc., and complain about this. How dare we utilize the natural resources in this country. I mean we are the only country that feels the need to use our natural resources and ruin the environment. No other country pollutes at all, just us.

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confussed
confussed 48 minutes ago
Why is Albuquerque New Mexico still booming from the 1980's?

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romags1303
romags1303 52 minutes ago
LIBERALS! Everybody wants stuff but they don't realize how they get it.

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EricKrehemker
EricKrehemker 1 hour ago
Wait has anyone told Obama about this? I know he is on vacation and all, but seems like he has plenty of ink left in that magic pen of his.

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confussed
confussed 49 minutes ago
@EricKrehemker Did you miss the part in the story that stated the President signed it into law?

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riverbck
riverbck 1 hour ago
"Detractors are taking extreme positions that are not based on sound science."

When republicans heard this they sued for patent infringement.

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MorleyDotes
MorleyDotes 35 minutes ago
@riverbck We've always known you radicals didn't believe in science.

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mudhog
mudhog 1 hour ago
DIG BABY DIG!

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captchris
captchris 1 hour ago
Great news for America

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ralph396
ralph396 1 hour ago
Terry Rambler just wanted more bribes.

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TedGale
TedGale 2 hours ago
BENGHAZI !!!!!!

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larry1355
larry1355 2 hours ago
Oh yes! The land is scared as long as you don't get money for it. But all of a sudden it's just fine.......and the money is too! And I'll bet they put up another Casino there too. And what about all the money they still are getting form the taxpayers too. That could build new homes for the tribal leaders too. Hey ya gotta make a buck.....and if the taxpayers pay for it...Even Better!

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EricKrehemker
EricKrehemker 1 hour ago
@larry1355 Did you mean sacred?

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reasonableone
reasonableone 2 hours ago
The administration negotiates well when it wants too.... Getting twice as much land, royalty on the copper...good deal for the taxpayers..... But negotiating with Cuba, and the Taliban... Not so much

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BKNews
BKNews 2 hours ago
@reasonableone If Obama is such a bad negotiator, why haven't the Republicans tried to negotiate with him over the last 4 years?



He would have given away the farm to pass bipartisan legislation.



But no, Republicans wanted to play politics, not help the American people. What a missed opportunity. he's going to play hardball now...


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Crometooth
Crometooth 2 hours ago
@BKNews @reasonableone Flat out lie. he doesn't want to negotiate, and he hasnt had to. He does what he wants and the people let him.

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larry1355
larry1355 2 hours ago
@BKNews That is very simple....he will not negotiate. It's his way or no way. Remember when he shutdown the government and blame everyone else. He and Harry said.....If you don't send us a bill that WE want, the Senate will not even vote on it. And then there was the shutdown. Of course as usual he blames anyone else he can. So just go back and listen to Harry(it's my way or no way) Reid. He said exactly that. "We will not vote on anything except what we want" Wait till they try to do that all over again next year. They tried to do it this time.....but, it didn't work.

And watch for them to want another Debt Ceiling raised!

Let's bankrupt the U.S. and sell it off.......or let Harry Buy it!


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Grumpyoldguy
Grumpyoldguy 41 minutes ago
@larry1355 @BKNews There never really was a shutdown, best I can tell. I think somewhere between two thirds and maybe three-fourths of the government employees stayed not he job. Not a shutdown at all. The rest I agree with.

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Terri M. Sweeney
Terri M. Sweeney 1 hour ago
@BKNews @reasonableone



Have you actually LISTENED to Obama speaking to Republicans. "Give me the bill that I want and we can have a deal." That's not negotiation, it's a demand to submit. Leave the fan club sometime and actually see what your beloved leader is actually doing, rather than what the club members are telling you he is doing.


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fromhome
fromhome 1 hour ago
@Terri M. Sweeney @BKNews @reasonableone You mean a clean bill with no pork attached to it? Yea that would be horrible. Considering Republicans vowed to fight Obama on anything that he did... who are the ones unwilling to compromise again? You should heed you own advice and step back and try to look objectively at both sides.

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reasonableone
reasonableone 1 hour ago
What flavor Koolaid is that, grape or cherry? Obama and company have refused to negotiate for the last 6 years.... Give me everything all at once, or nothing.... Or trading 1 deserter for 5 field grade opfor troops... Keeping drinking friend

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SituationalGravity
SituationalGravity 1 hour ago
@BKNews @reasonableone Starting in 2015, Obama will miraculously become shrewd, muck up the system as the Framers intended; as he becomes the President of "no". More precisely, Mr. Veto. Hypocrisy from the Left will continue.



Obama's boy, Reid, was the master of no.


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dirtrider
dirtrider 1 hour ago
@BKNews @reasonableone Boy have you been drinking the liberal koolaid. Oblummer negotiate. PHHHHTTTT! Not in his lifetime

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Grumpyoldguy
Grumpyoldguy 44 minutes ago
@BKNews @reasonableone Please define how Obama would help America. All he proposes is more laws, more regulation , higher taxes, and larger government. That is not help. That is destructive to freedom and an attack on individual rights. Thank goodness for gridlock, and I hope we have more, until we get a Congress that will remove laws and remove regulations.




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MorleyDotes
MorleyDotes 33 minutes ago
@BKNews @reasonableone Quiz... who said "I will not negotiate"??? I'll give you a hint, his address is currently 1600 Pennsylvania ave Washington DC, oval office.

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trico
trico 2 hours ago
I can hear it know. If it wasn't in the bill, the Ditto Heads would blame Obama..Now it's in the bill their complaining they complain.

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Crometooth
Crometooth 2 hours ago
@trico Who is complaining aside from the environmentalists?

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tionibusLiberalis
tionibusLiberalis 3 hours ago
20 years from now..

"Massive sink hole in AZ swallows up entire neighborhood."


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tionibusLiberalis
tionibusLiberalis 3 hours ago
And there it is.. For the right price you can tear up PUBLIC land and leave a massive hole.



But for God sake, Don't you dare let cattle graze on it.. Even if they do perform a service by cutting down the potential for wild fires by trimming grass, and fertilizing the land which promotes plant growth thus inhibiting erosion.



Obama and the Dems called Bundy a criminal? The real criminals are in DC.


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BKNews
BKNews 2 hours ago
@tionibusLiberalis At least they paid a price. Bundy never paid the rent he owed. Rent for land you and I own. He BROKE THE LAW.

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Crometooth
Crometooth 2 hours ago
@BKNews @tionibusLiberalis true enough, he broke the law. Its the fact that it was unfair that is the problem. he pays taxes and "owns" a piece of it like you mention. he has to rent the land and you don't. he doesn't have representation in the matter, the price just goes up and up.

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fromhome
fromhome 1 hour ago
@Crometooth @BKNews @tionibusLiberalis What is unfair about it? There are thousands of ranchers who are more than willing to pay for the use of public lands to graze cattle. The difference between BKNews and Bundy using it is Bundy was using it as a free subsidy from the government to make a larger profit off his cattle and BKNews may want to camp there for which he is also supposed to buy a permit.

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larry1355
larry1355 2 hours ago
@BKNews @tionibusLiberalis Harry Reid wanted the land and got it.....then made a few million selling it too. Nevada is all about Harry. It's that plain and simple. From no money to a millionaire as soon as he got on the Gaming Commission there. All you have to do is give a casino a license and sit back....the money comes in.. Hmmmmm or the stock as I should say! Go check him out. I know there are no crooks in Vegas.....just investors!

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Crometooth
Crometooth 2 hours ago
@larry1355 @BKNews @tionibusLiberalis Seriously. Insider trading is allowed for congress. Not sure why its ok for them but no one else. They are all millionaires, that isn't a bad thing by itself but when they make that kind of money after they are in office, something is wrong.




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fromhome
fromhome 1 hour ago
@larry1355 @BKNews @tionibusLiberalis He wanted what land and got it? The land that Bundy was illegally grazing his cattle on that is still owned by the government and hasn't been sold to anyone? Or, are you talking about his personal property that he has owned for several years and then sold when he found out there was a ton of gold in the ground? There is a huge difference.

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MorleyDotes
MorleyDotes 32 minutes ago
@tionibusLiberalis why not? barry has been tearing up the country for 6 years and is leaving a massive hole in the economy.

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craignewtons
craignewtons just now
@tionibusLiberalis Unfortunately there are several hundred ranchers paying the fees to graze their cattle while bundy was looking for the free ride. They don't cotton much to teat sucking welfare ranchers like bundy.

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DesertManAZ
DesertManAZ 3 hours ago
I'm appalled that this mine bill was slipped onto the NDAA. It's been defeated several times in previous years for good reason.

Because of McCain's closed-door deal, the federal government is privatizing a public National Forest site in Arizona to give to a British-owned mining company. In 1955 President Eisenhower set aside Oak Flat near Phoenix so that it would never be mined!

This is special interest legislation for the profit of a foreign mining firm, not for the USA's benefit. No royalties on this copper will be paid to either the state nor USA, and the profits will flow out of the country. The mine will export the copper to be smelted, instead of insisting it be done here. The copper will be sold to the highest bidder, namely China.

Nowhere is it mentioned in this article that the parent company, Rio Tinto, is in a partnership with Iran to operate a uranium mine in Africa. Nor that China owns 10% of their stock. Yes Arizona's mineral wealth will be given to foreign interests.

What's next, the govt grabbing national parks and giving them to Iran? What a disgrace that Congressmen McCain, Flake, Kirkpatrick, and Gosar all represent the will of the mining company instead of the people who elected them.




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Bob Leone
Bob Leone 1 hour ago
@DesertManAZ Oak Flat is not in a Wilderness Area. It is in a National Forest. That means it is open for multi -use, including ranching, forestry, recreation, and mining. In addition nobody is giving away anything. Arizona will benefit from this -" mine will mean $20 billion in tax revenue, $6 billion of which goes to state coffers, and another $220 million in annual wages." This project will create over 3000 jobs in a part of the State that is economically depressed.

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DesertManAZ
DesertManAZ 38 minutes ago
Bob, Pres. Eisenhower in 1955 protected Oak Flat not as wilderness, but rather as a mining-free preserve via a Public Land Order. So no, it's not "open to multi-use including mining" as you stated. It's preserved against mining. The only way for Resolution Copper to get ahold of it was with a Congressional land exchange, not through the 1872 Mining Law as would apply on regular National Forest land.



Your recitation of the press release numbers issued by Resolution Copper...first of all, they are fictional guesses. And second, they're counting the money that orkers pay the state through income taxes, not royalties from copper mining. Under current laws, royalties are not required for hard rock mining in the USA. So that means zip for either Arizona or USA when it comes to this copper.








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Bob Leone
Bob Leone 8 minutes ago
@DesertManAZ Where are those workers going to spend the money they earn? Right here in Arizona.

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lookaway
lookaway 3 hours ago
In a joint statement, Arizona senators John McCain and Jeff Flake defended placing it in a defense bill.

Another pork addition to a defense bill.


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Itismyopinionsogoinsertwordself
Itismyopinionsogoinsertwordself 3 hours ago
@lookaway Copper is a critical need of the military, so why should it not be in the defense bill.......unless you expect the military to depend on foreign nations for their supply.

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evolveorelse
evolveorelse 3 hours ago
@lookaway How do you define "pork"?? This mine will generate income for the state and the feds. Most people define pork as projects that cost the taxpayers money.

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airfrank
airfrank 3 hours ago
@evolveorelse @lookaway And in fact we get back twice as much land as we are giving to them.

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tionibusLiberalis
tionibusLiberalis 3 hours ago
@airfrank @evolveorelse @lookaway

If you give me 1 acre of your property to use, How do I give you back 2 that you never had?


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Bob Leone
Bob Leone 1 hour ago
@tionibusLiberalis @airfrank @evolveorelse @lookaway They are trading land near Superior, Arizona for land along the San Pedro River over 100 miles away. The San Pedro is one of the few surviving riparian area in southern AZ.

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BKNews
BKNews 2 hours ago
@evolveorelse @lookaway Not sure it will generate income for the state and feds. See post above...






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[Morsecode]

Jeez...they could actually go back to a 95% cu cent if those estimates pan out.

[Recyclersteve]

Look at the huge Bingham mine collapse in Utah on April 10, 2013. That was one of the largest copper mines in the world- I think it provided something like 15% of all the copper used in the US. In theory copper should have gone up fairly sharply with the loss of that much production. However, the price of copper is LOWER now than before the collapse.

Part of this could have been because of worldwide stockpiles of copper that may have been used to replace the supply that was lost- I don't have stats on the amount of stockpiles at my fingertips.

I do agree, this mine near Superior, AZ (about 60 mi. east of Phoenix) is a HUGE mine.

One minor thing I disagree with from the article... Copper is not a precious metal; it is a base metal.