News

January 11, 2007

For Immediate Release

Copper Club Names Phelps Dodge's Whisler as Man of the Year

J. Steven Whisler High-resolution version of this photo.

NEW YORK — J. Steven Whisler, chairman and chief executive officer of Phelps Dodge Corp., will receive The Copper Club’s Ankh Award naming him The Copper Man of the Year 2007. The board of directors of the Copper Club voted to honor Whisler with the recognition for his leadership both within his company and in the copper industry. The award will be presented at the club’s annual dinner on Feb. 15, 2007, at the Waldorf=Astoria Hotel in New York City.

Whisler, 52, has spent his entire, 30-year career with Phelps Dodge. He became chairman and chief executive officer in 2000. Under Whisler, Phelps Dodge established Zero and Beyond, a safety initiative that recognizes zero as the only acceptable goal for occupational illnesses and injuries and encourages employees to be champions of safety in their families and communities. Whisler also has continued the company’s tradition of technological leadership with innovations that include copper-concentrate leaching and chalcopyrite heap and stockpile leaching.

In recent years, he has been the driving force behind the acceleration of Phelps Dodge’s efforts in environmental reclamation and remediation. To demonstrate the company’s commitment to environmental stewardship, Whisler was instrumental in establishing an environmental trust of $400 million to give the company greater flexibility in managing its environmental obligations.

Under Whisler’s leadership, Phelps Dodge is developing two exciting new assets, a copper mine in Safford, Ariz., and the Tenke Fungurume copper/cobalt project in the Democratic Republic of the Congo. Both projects will use efficient, environmentally sound, state-of-the-art technology. Tenke Fungurume is widely recognized as one of the largest, highest-grade, undeveloped copper/cobalt concessions in the world today.

Whisler also has been a leader in the copper industry. He currently serves as chairman of the International Copper Association, and he served for four years as chairman of the Copper Development Association. In these roles, he has been instrumental in bringing together copper producers, smelters and fabricators to focus on the common objectives of protecting and developing copper markets and products worldwide.

Whisler has been awarded the Colorado School of Mines' Distinguished Achievement Medal for career accomplishments, and the school also presented him with an honorary doctoral degree in engineering. He was inducted into the American Mining Hall of Fame in 2005 and was named the 2005 Technology & Management Executive of the Year by The University of Arizona's College of Engineering and the Eller College of Management. He holds a bachelor of science degree in business (accounting) from the University of Colorado, a doctor of jurisprudence degree from the University of Denver College of Law and a master of science degree in mineral economics from the Colorado School of Mines. He also completed the Harvard Business School’s Advanced Management Program.

“Steve’s career and his many contributions to the copper industry have established him as a worthy recipient of the Ankh Award,” said Andy Kireta Sr., president and chief executive officer of the Copper Development Association and chairman of the Copper Club’s Awards Committee. “The nominating committee reviews candidates submitted by the membership and, based on his achievements, selected Steve as the nominee it wished to move forward for board approval. His accomplishments as an innovator in safety, technology and environmental responsibility have earned him the highest respect and admiration throughout our industry. We look forward to recognizing him and his career.”

The Copper Club was formed in 1944 to convene all participants in the copper industry. It is comprised of copper producers, fabricators, refiners, dealers, traders and merchants.