 While mining the silver left in his mine, huge deposits of copper were soon developed and Daly became a copper magnate.When surrounding silver mines "played out" and closed, Daly quietly bought up the neighboring mines, forming a mining company.Daly built a smelter at Anaconda, Montana, building a company town to support the workers, and connected his smelter to Butte by his Butte, Anaconda and Pacific Railway.