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(CRESTED BUTTE, Colorado. July 22, 2004 ) Crested Butte mayor Jim Schmidt talks about mining giant Phelps Dodge recent purchase of 500 acres of patented mining claims on the top of Mount Emmons, known by locals as the "Red Lady". He opposes the mine, but doesn't see it as an emminent threat to the town because of a world wide glut of molybdenum, the mineral that would be mined. ( Photo by DENNIS SCHROEDER/ROCKY MOUNTAIN NEWS)

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