Magma Copper Company - 1920's-50's dated Arizona Mining Stock Certificate
Inv# MS1034 Stock
Maine
Stock printed by Hamilton Bank Note Co., New York. Nice for Framing!!! Mines were located in the Pioneer and Superior Mining Districts of Arizona.
The Magma Copper Company, officially established in May 1910, was founded by mining investors William Boyce Thompson and George Gunn after acquiring the historic Silver Queen mine in Superior, Arizona. Underground production commenced in 1912, leading to the discovery of an exceptionally rich vein of ore with an average copper content of approximately six percent. To effectively reduce operational and logistical expenses, the company swiftly expanded its infrastructure by establishing the Magma Arizona Railroad Company subsidiary in 1914 and commissioning its own substantial on-site copper smelter in 1924. Renowned for its engineering prowess, the Superior mine achieved historical significance in 1937 by installing the first underground air conditioning system in North America, effectively mitigating the scorching temperatures of the subterranean rock.
By the mid-20th century, Magma solidified its position as a corporate titan by acquiring the San Manuel mining claims in 1944. This acquisition eventually transformed into the largest underground copper operation in North America. In 1952, bolstered by a substantial federal development loan, Magma embarked on a project to construct an entire master-planned town, a mill, and a new smelter complex at San Manuel. At its peak, this facility processed approximately a quarter of all copper ore in the United States. However, after decades of fluctuating corporate ownership, including a prolonged acquisition period by the Newmont Mining Corporation, the historic Superior and San Manuel operations were permanently shut down in the late 1990s and early 2000s due to depleted reserves and declining global commodity prices. Despite these setbacks, the company’s legacy continues to thrive through the Resolution Copper Project, a modern joint venture that leverages Magma’s extensive historic shafts to explore one of the world’s largest undeveloped copper deposits.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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