Chile is estimated to have produced 33,304 tonnes of molybdenum in molybdenum concentrate in the calendar year of 2008,a 25.9% decrease compared with that in the preceding calendar year of 2007. For more information, click here
Zangezur Copper-Molybdenum Plant will receive a $10 million loan from the government to offset the impact of the global meltdown on its plans to modernize its facilities and increase output. For full story, click here
Chevron Mining laid off 215 hourly and salaried workers at company’s Questa molybdenum mine. For full story, click here
The steel sector has been deeply impacted by the global economic climate; with an approximate 50% decline in production. Moly, as an important alloy, is following suit.
The London Metals Exchange is launching cobalt and molybdenum futures contracts in 2009. The LME has orgainized a conference to discuss the markets and how the LME can be used to mitigate price risk management.
Vancouver-based Creston Moly has finished a prefeasibility study on its flagship Creston project, in Sonora, Mexico and will go ahead with a bankable feasibility study in a measured and cash conservative manner. For full story, click here
Thompson Creek Metals Co Inc reported that it is reducing mill capacity by 30 percent and will temporarily idle two mines this year due to poor market conditions. For full story, click here
Since the end of 2008, the price of domestic ferromoly in China has been fluctuated above and below CNY 120,000 per tonne and the prices are expected to decline again. For full story, click here
Market price of molybdenum oxide in Q4 2008 had suddenly fallen steeply due to sudden and considerable shrink in global demand. For full story, click here
An unscheduled shutdown at Chalk River Laboratories that supplies rods of molybdenum-99 could mean a shortage of medical isotopes. For full story, click here
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