Molybdenum is obtained from two different types of mines: primary mines and by-product mines. By-product mines are most commonly referred to as Copper-Molybdenum ore bodies, while ‘primary’ mines focus solely on molybdenum production.
The search for new mineral wealth is pushing to the far reaches of the globe. Mongolia, the neighbor to two of the world’s largest economies, Russia and China, is on track to have the largest copper mine outside of Chile. International mining companies are taking up increased interest in Mongolia, which suffers from poverty and a lack of modern infrastructure.
Reports of mineral wealth in Afghanistan exceeding $1 trillion may seem like terrific news for the war torn nation; however, when faced with the political realities, seem less attractive to international mining companies. Is the release of internal Pentagon memo’s just days before a Senate hearing a political ploy or a mining reality?
A busy week for molybdenum producers as multiple companies such as Quadra Mining and International PBX Ventures release statements about perusing new opportunities for moly.
The Kitsault Molybdenum Mine - owned 100% by Avanti Kitsault Mine Ltd, is a former producing mine (total production during two prior periods was approximately 30 million pounds of moly) and is considered one of the top-five undeveloped primary molybdenum assets worldwide.
Thompson Creek Metals has had an upgrade and a downgrade. With eight analysts having cut their target, is it time to bail out of the stock?
Ferro-molybdenum and molybdic oxide continued their rally this past week, as frightening low stockpiles have traders worried that if the purchases accelerate, there simply won’t be enough moly to go around.
As a minor metal, molybdenum is prone to rapid price fluctuations; in the past this had generated huge returns on investment. Molybdenum was one of the last metals to feel the effects of the economic downturn, but has failed to match the recovery experienced by many metals since the start of the New Year.
Velocity Minerals Ltd., a company dedicated to the acquisition and development of advanced or high grade molybdenum mineral properties. Velocity presently owns the mineral rights to two molybdenum projects in northern British Columbia (Mt. Haskin and Cassiar Moly) and is actively pursuing other properties in North America and internationally.
Molybdenum prices are currently hovering around the $9 per lb mark, a drastic decline from last Augusts’ high of $34. Molybdenum managed to hold its price point longer than other metals; but in the fourth quarter of 2008 the steel industry’s defeat sent molybdenum on a free fall.
Wednesday, June 30, 2010