A recently released study has revealed that Arizona’s copper mining industry contributed approximately $12.1 billion to the state’s economy and an estimated 73,100 jobs to Arizona residents in 2010.
According to the study prepared for the Arizona Mining Association (AMA), the $12.1 billion economic impact represented a 31 percent increase over 2009. Contributing to the overall performance of the copper mining industry was a rise in copper prices, partially offset by a slight decrease in production.
From the $12.1 billion impact, the analysis revealed that the copper mining industry contributed approximately $3.6 billion in personal income; $7.9 billion in business sales; and $0.6 billion in state and local government revenues. The copper mining industry had a direct impact of $3.7 billion in 2010 on the state of Arizona.
The report revealed that the industry provided nearly $1.0 billion directly to Arizona residents as personal income; $2.5 billion to Arizona businesses for goods and services; and more than $0.2 billion directly in state and local government revenues.
Total direct employment in Arizona's copper mining and processing facilities in 2010 was approximately 10,400 employees, compared with 9,100 in 2009.
The average price of refined copper in 2010 was approximately $3.43 per pound—up from an average near to $2.37 per pound in 2009. The amount of copper produced fell from roughly 814,000 tons to about 798,000 tons—a two percent decrease over the prior year.
