Copper Falls Mining Company

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The Copper Falls Mining Company (CFMC) was a local mining venture based in Copper Falls. Founded in 1853, it was eventually dissolved over the course of 3 years in the 1950s.

History

Founding

Copper Falls Mining Company was founded in 1852 by Jerry Toman and 5 other unknown constituents, known as the "Falls Five". The company was founded after Toman discovered copper in his backyard - he dubbed it "The Copper Falls Miracle", as well as founding the town officially as Copper Falls. Over the course of the next 6 months, Toman discussed plans with his colleagues in the local hotel, in which they bought the first plot of land for the company, at 2 acres.

Initial Expansion

By 1854, over 700 immigrants had found their way to the city, with over 56% of them being employed under the new company. The rest of the employed citizens of the town served local businesses with no real competitors to the company, despite other ventures. Soon, the company had its main office in the heart of the town and was mining over 200 acres of viable land. 5 years into the venture, Toman suffered a heart attack and the Presidents role was given to another founding member of the company. This man lasted at the company for 20 years, before being replaced by Georgia Toman, daughter of Jerry Toman and the first President of a venture in Canifrina - starting her role in 1879 and finally retiring in 1920 at age 62. The company maintained a 5% expansion rate the entire time that Georgia ran the company. Over the course of the next 10 years, till 1930, 5 other members of the Toman Family tried replacing her role as President and CEO, all failing under the mounting pressure of copper disappearing from the fields.

Decline and Bankruptcy

In 1935, under the destabilizing rule of the Toman family dynasty, another issue arose - the 80-year-old fields of the town began to decrease in materials at a rapid rate. This led to more collapsing of upper management and the mismanagement of roles in the company. The Toman's finally disappeared from the companies ranks, fleeing to the city among ridiculing by the townspeople, in 1930. As fields closed, employment rates continued to spike - by 1952, 70% of Copper Falls was employed under the company. In 1953, layoffs began in the company, with 50% of miners fired on the spot.

By 1955, the fields had finally run out of material, or was in such limited amounts profits could never be made. The final nail in the coffin was with the resignation of the CEO of CFMC, who had been running the business since 1931 with the departure of the Toman family. The remaining board members announced the bankruptcy of the company, due to the fields running out and the major layoffs of its workforce. All mining concluded the day after with workers being forced off the site. The harbour and railyards used to transport the copper were sold off to Arrowhead and Western, in a final effort to lower the debts of the company. Fields where left abandoned until 1985 when the County Government took hold of the property - it is now known as Miner's Park.

Aftermath

The closing of the company resulted in a 25% drop of the population of Copper Falls, and an unemployment rate skyrocketed to 61% - the majority of the town's population had been employed to CFMC. Local businesses, such as the town deli, theatre and supermarket were also forced to close down due to the drop in population.

The former mills owned by the company were sold by AWRR to Jessies Sugar Company, which kickstarted the revival of Copper Falls.

The Toman family, once the most profitable family in all of Canifrina, fled to Montana. The descendants of the family, disgraced by the entire state, have settled into the suburb of Chester. Multiple members of the family are in the Soldados gang, having changed their surnames.

The former offices of the company are preserved by the Canifrina Historical Society.

Notable People and Companies

People

The Toman Family was the leading family dynasty controlling the Copper Falls Mining Company. Some notable members are:

  • Jerry Toman, founder of the company and first President and CEO
  • Georgia Toman, the successor to Jerry Toman and first female President/CEO of a major company in the state of Canifrina

The descendants of this family are currently residing in Chester, as part of the Soldados Street Gang.

Another notable group of investors and leaders in the company are known as the "Falls Five", the first five major investors in CFMC and supporters of multiple communities businesses.

Companies and Government Departments