Many molybdenum firms benefited from higher prices for moly in 2010 as well as massive investments from moly hungry China. Backed by growing steel demand from the urbanization of China, moly prices rose from the abysmal $8 lows in 2008 up to $18 per pound in April 2010, prices have since settled to around $16 per pound.
Business News Americas reports that Molybdenum prices are forecast to hover at the lower end of the US$11-14/lb range during 2011.
Qiao Xing Universal Resources, Inc. (NASDAQ:XING) update on the progress of the proposed privatization of its 61%-owned subsidiary Qiao Xing Mobile Communication Co., Ltd. (NYSE:QXM).
Platts.com reports that Global molybdenum oxide prices eased slightly in Asia, Europe and the US this week.
Steelguru.com reports that Chinese steel giant Hebei Iron and Steel Co Ltd subsidiary Laiyuan Non Ferrous Metal Company has inked integration agreements with eight privately owned molybdenum ore companies in the district of Dawan Laiyuan County, Hebei Province.
Redhawk Resources, Inc. (CVE:RDK) reports that its previously announced private placement with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. have agreed to amend the terms of the offering.
Fjordland Exploration Inc. (CVE:FEX) updates on exploration activities on its Tak-Milligan copper-gold-molybdenum project in central British Columbia.
Candente Copper Corp. (TSE:DNT) reports that highly anomalous copper, gold and molybdenum geochemical results on their 100% owned Arikepay porphyry.
Woulfe Mining Corp. (CVE:WOF) reports that it has began drilling at its Sangdong tungsten-molybdenum project in South Korea.
Moly Mines Limited (TSE:MOL,ASX:MOL) announces that the immediate parent entity of Hanlong Mining Investment Pty Ltd has received the key Chinese government approval in the process toward completing the financing for the Spinifex Ridge Molybdenum/Copper Project.
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