Australia’s new “Super Profit” tax on mining companies may scare off investment and hurt the profitability of mining operations, say analysts. However, economists and government officials disagree. After billions of dollars worth of investments into molybdenum operations in Australia, how will this proposed tax affect the mining industry?
Molybdenum is set to trade on the London Metal Exchange from February 22, but the world's No 2 producer Chile's Codelco has decided to stay away. Why does the miner want to go it alone? Are shaky copper prices to blame?
Moly has been priced too low as compared to other minerals already traded in the futures market. The added sauce to the coming moly price surge will be a sure-fire winner for speculators. You in?
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.
The London Metal Exchange will add molybdenum to its arsenal in the second half of 2009. The move was announced on Sept 4th, when the LME board voted in favour of adding both molybdenum and cobalt to its futures trading. The move was met with mixed reviews.
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