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What do we get out of it?
Following is a consolidated analysis of the economic impact on
Pima County, Arizona, and the United States in a report prepared for Augusta
by projected by the Western Economic Analysis Center. Click
to see the report
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Annual
|
| Direct
Impact on economy |
Pima
County |
AZ
outside Pima County |
Arizona
State |
Outside
Arizona |
Total
US direct spending |
| personal
income augusta employees (500 jobs at $58,900) |
$
29,450,000.00 |
$
- |
$
29,450,000.00 |
|
$
29,450,000.00 |
| business
sales |
$
120,239,000.00 |
$
42,958,000.00 |
$
163,197,000.00 |
$
67,940,000.00 |
$
231,137,000.00 |
| State
and local revenue government revenues |
$
6,234,000.00 |
$
25,092,000.00 |
$
31,326,000.00 |
$
- |
$
31,326,000.00 |
| Federal
Revenue |
|
|
|
$
35,285,000.00 |
$
35,285,000.00 |
| Total
direct impact on Economy |
$
155,923,000.00 |
$
68,050,000.00 |
$
223,973,000.00 |
$
103,225,000.00 |
$
327,198,000.00 |
| |
|
|
|
|
|
| Indirect
Impact on economy |
Pima
County |
AZ
outside Pima County |
Arizona
State |
Outside
Arizona |
Total
US direct spending |
| personal
income indirect employees (1160 Pima County jobs at $36,337, 1290 outside
Pima County at $42,323, for a total of 2950 jobs) |
$
42,151,000.00 |
$
54,597,000.00 |
$
96,748,000.00 |
$
393,632,000.00 |
$
490,380,000.00 |
| business
sales |
$
48,257,000.00 |
$
101,082,000.00 |
$
149,339,000.00 |
$
1,158,803,000.00 |
$
1,308,142,000.00 |
| State
and local revenue government revenues |
$
9,869,000.00 |
$
7,587,000.00 |
$
17,456,000.00 |
$
82,947,000.00 |
$
100,403,000.00 |
| Federal
Revenue |
|
|
|
$
128,311,000.00 |
$
128,311,000.00 |
| Total
indirect impact on Economy |
$
100,277,000.00 |
$
163,266,000.00 |
$
263,543,000.00 |
$
1,763,693,000.00 |
$
2,027,236,000.00 |
| |
|
|
|
|
|
| Combined
Impact on economy |
Pima
County |
AZ
outside Pima County |
Arizona
State |
Outside
Arizona |
Total
US direct spending |
| personal
income indirect employees (1660 Pima County jobs at $36,337, 1290 outside
Pima County at $42,323, for a total of 2950 jobs in arizona, 8830 outside
of Arizona at $41,243) |
$
71,601,000.00 |
$
54,597,000.00 |
$
126,198,000.00 |
$
364,182,000.00 |
$
519,830,000.00 |
| business
sales |
$
168,496,000.00 |
$
144,040,000.00 |
$
312,536,000.00 |
$
995,606,000.00 |
$
1,539,279,000.00 |
| State
and local revenue government revenues |
$
16,103,000.00 |
$
32,679,000.00 |
$
48,782,000.00 |
$
82,947,000.00 |
$
131,729,000.00 |
| Federal
Revenue |
|
|
|
$
128,311,000.00 |
$
163,596,000.00 |
| Total
indirect and indirect impact on Economy |
$
256,200,000.00 |
$
231,316,000.00 |
$
487,516,000.00 |
$
1,571,046,000.00 |
$
2,354,434,000.00 |
I took the estimations of mineral production and
estimated the potential profitability below. August sure makes it sound
like a fantastic deal for the people, It seems its more of a deal for them.
| Estimated
Rosemont Revenue |
cost
per unit 5/11/08 |
annual
revenue |
total
revenue |
|
|
| Silver
2.5 million ounces per year |
$
16.75 |
$
41,875,000.00 |
$
795,625,000.00 |
|
|
| Gold
(no resources reported) |
|
|
|
|
|
| Copper
250 million pounds per year |
$
3.75 |
$
937,500,000.00 |
$
17,812,500,000.00 |
|
|
| Molybdenum
5 million pounds per year |
$
33.25 |
$
166,250,000.00 |
$
3,158,750,000.00 |
|
|
| |
|
$
1,145,625,000.00 |
$
21,766,875,000.00 |
|
|
| Expense
summary |
|
|
|
|
|
| estimated
cost to build mine |
$
782,400,000.00 |
|
|
|
|
| Total
Direct Spending over 19 years |
$
6,216,762,000.00 |
|
|
|
|
| Total
expenses |
$
6,999,162,000.00 |
|
|
|
|
| |
|
|
|
|
|
| Total
revenue from mine operations |
$
21,766,875,000.00 |
|
|
|
|
| less
total expenses |
$
6,999,162,000.00 |
|
|
|
|
| equals
total profit |
$
14,767,713,000.00 |
|
|
|
|
Augusta states that:
"An Environmental Endowment Will Benefit the
Entire Community - We will create a $25 million endowment over the life
of the mine and donate an additional $500,000 annually during operations to be
used for the preservation of open space, mitigation of wildlife habitat and to
meet other needs identified by the community"
HOW GENEROUS, $35 Million for the Community over 20 years, a
WHOPPING .16% of revenue for those most affected by the proposed mine.
WAGES, $29,500,000 in wages per year, that's an estimated 2.6% of
revenue for the employees.
As far as the county or schools getting much from property
taxes, don't count on it. I own approximately 7.5 acres of vacant land and
the Pima County Assessor taxes me $720 per year on it or $96 per acre.
Augusta resources pays $10.05 on 20 acres or about $.50 per acre. The
entire holdings represented here is 1,585 acres with a ranch house or two
intermingled and they pay only $4,316 on the entire holdings.
| Augusta
Resource (Arizona) Corp |
|
|
|
|
|
| 400-837 W. Hastings St
W. |
|
|
|
|
|
| Vancouver, BC, V6C 3NW |
|
|
|
|
|
| Canada |
|
|
|
|
|
|
|
|
|
|
|
| Parcel |
Acres |
assessed |
limited value |
tax |
tax per acre |
| 144
- 5 acre parcels ($80 per) |
720 |
$11,520.00 |
$ 11,520.00 |
$
1,432.47 |
$
1.99 |
| 30562007G |
70 |
$
237.00 |
$
237.00 |
$
29.47 |
$
0.42 |
| 30562007H |
160 |
$
538.00 |
$
538.00 |
$
66.90 |
$
0.42 |
| 30562012C |
180 |
$20,084.00 |
$
14,845.44 |
$
2,042.76 |
$
11.35 |
| 30562008F |
35 |
$
2,122.00 |
$ 1,803.30 |
$
236.21 |
$
6.75 |
| 30562011A |
40 |
$
134.00 |
$
134.00 |
$
16.66 |
$
0.42 |
| 30562006B |
40 |
$
134.00 |
$
134.00 |
$
16.66 |
$
0.42 |
| 30562008J |
35 |
$
85.00 |
$
85.00 |
$
10.57 |
$
0.30 |
| 30562007D |
40 |
$
134.00 |
$
134.00 |
$
16.66 |
$
0.42 |
| 30562007F |
40 |
$
134.00 |
$
134.00 |
$
16.66 |
$
0.42 |
| 30562008C |
60 |
$
144.00 |
$
144.00 |
$
17.91 |
$
0.30 |
| 30562009A |
160 |
$
538.00 |
$
522.88 |
$
65.59 |
$
0.41 |
| 30562008G |
5 |
$
2,799.00 |
$
2,799.00 |
$
348.04 |
$
69.61 |
| totals |
1585 |
$38,603.00 |
$
33,030.62 |
$
4,316.55 |
|
|
|
|
|
|
|
| tax rate |
|
3.7565% |
8.6781% |
total tax |
tax per acre |
| total taxes
paid by Augusta |
|
$
1,450.12 |
$
2,866.43 |
$
4,316.55 |
$
2.72 |
Read about the Mining Laws of 1872. You will see that we
don't get anything but the bill to clean up the mess http://www.earthworksaction.org/news.cfm?newsID=27.
watch the National Geographic video U.S. Mining Law contested http://news.nationalgeographic.com/news/2008/02/080201-hardrock-video-wc.html read
about "modern mining" and its excellent track record. If we are
counting on high copper prices to make the Rosemont mine economically feasible,
what happens when the price of copper drops. Will we be another grouse
creek mine http://www.earthworksaction.org/pubs/ModernMiningFINAL.pdf
The Grouse Creek mine, located adjacent to the largest
wilderness complex in the lower 48 states, was heralded as a "state of the
art" mine when it began operations in 1994. Just three years later,
the mine shut its doors -- producing no profits
and leaving
behind severe environmental problems.
Hecla Mining
Company (Hecla), owner and
operator of the Grouse Creek Mine, began construction in 1993.
Before it produced its first ounce of gold, construction activities caused a
major landslide, burying 100 yards of Jordan Creek -- a stream federally
designated as critical salmon habitat. Read the article http://www.bettermines.org/cvgrousecreek.cfm
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