AFTER FILING FOR CHAPTER 11 IN 2009, Lisbon Valley Mining has reemerged from bankruptcy with new ownership, a newly capitalized balance sheet and a turnaround strategy supporting a new mine plan to produce 15–20 million lbs. per year of annual harvested copper in Utah’s Lisbon Valley.
Copper Mining in the United States is proving to be a powerhouse industry. In fact, in 2012 the United States was named the world’s fourth largest copper producer, after China, Peru and Chile with a production of around 1.15 million metric tonnes of copper, totaling a worth of $9 billion. With these positive numbers in production, the United States is showing no signs of slowing down. As of 2013, it has around 39 million tonnes of known remaining reserves of copper. Contributing to United States production is Utah-based Lisbon Valley Mining Company (LVMC), as it operates an open-pit copper mine located just south of Moab, UT.
Preferred Sands is a major player in the acquisition and development of high quality reserves, exclusive silica sand and resin-coated sand products, with the added capability of delivering its products at the lowest cost in the industry.
As one of North America’s largest proppant, well logistics and resin technology companies, the company was able to reach its tremendous success at the hands of CEO and Founder Michael O’Neill. O’Neill built the company into a dynamic organization of like-minded professionals dedicated to creativity, hard work and financial ingenuity. In this enlightening Q & A, O’Neill discusses the challenges the company overcame on its path to success with a focus on its strategies, goals and future.