thumb|Anaconda [[headframes overlooking the city of Butte. HAER photo]]
upright|thumb|[[Chalcocite replacing covellite, said to be found in 1883, in the early days of mining at Butte. Size 8.0 x 6.3 x 3.6 cm.]]
The Anaconda Copper Mine was a large copper mine in Butte, Montana that closed operations in 1947 and was eventually consumed by the Berkeley Pit, a vast open-pit mine. From this beginning Daly, along with partners George Hearst, James Ben Ali Haggin and Lloyd Tevis, created the Anaconda Copper Mining Company, which ultimately became a global mining enterprise that would go on to mine 18 billion pounds of copper over 100 years.
The Anaconda Copper Mining Company was acquired by ARCO in 1977.
F. Augustus Heinze, an investor who had come to Montana to capitalize on the mining industry, used the apex theory in several lawsuits to lay claim to ore from the Anaconda Mines.