Freeport McMoRan announced first-quarter results
Freeport-McMoRan that produces copper, molybdenum and gold reported its first-quarter results Wednesday before the market opens. For full story, click here
Articles Tagged "mcmoran"
Stimulus spending could bridge the gap in molybdenum prices
When economic growth resumes, there will be a critical shortage of strategic metals. The rapid collapse in metal’s prices has forced many miners to mothball operations; when demand for these metals resumes, there will be a lag time for production online. This means that as quickly as prices collapsed, we can expect an upswing with more impetus.
Will the stimulus jumpstart molybdenum?
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.
Freeport McMoRan reduces molybdenum production
Freeport McMoRan Copper & Gold of Phoenix forecasts its sales to slide 15% to 60 million lbs in 2009 from the 71 million lbs shipped in 2008. The company has revised annual production plans at Henderson for 2009 at a 25% reduction. For full story, click here For Freeport’s site, click here
