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
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
Molybdenum prices have crashed from a high of $35 per pound at the end of October down to the recent level oft US $12 per pound. This represents the worst decline when it comes to commodity prices; a 53 percent drop to be exact.
Quadra Mining has postponed plans to begin construction of molybdenum mine in East Greenland due to recent decline in metal prices. For full story, click here
Shares of Queensland Ores Ltd. decline by the most on record in Sydney after stopping production at its Wolfram Camp tungsten and molybdenum mine in Australia because metal prices fell and it failed to meet ore grade targets. For full story, click here
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