Articles Tagged "production"

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

Thompson Creek reduces molybdenum production

Thompson Creek announced huge cut in its 2009 production forecast Tuesday of as much as 41%. The company plans to produce 20 to 24 million pounds of Molybdenum, down from the prior guidance of 31.5 to 34 million pounds. Chief executive Kevin Loughrey said: This is a unique time, because we’re not getting a confident [...]

Government stimulus could boomerang moly

As the shock waves spread around the global economy; many analysts are starting to hedge their bets on when a recovery will start. In their Global Metal’s Report released this week, Morgan Stanley gave their take on the near future for the molybdenum market.

Molybdenum’s decline leaves few strong contenders

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.

New pipelines will spell success for moly

Slower Chinese buying impacted Ferro-molybdenum prices between last Wednesday and Friday; however, the US’s proposed $136 Billion infrastructure spending plan capped the downside. Western-grade Ferro-molybdenum fell to $24.50-26.50 per kg from $26-28 per kg previously, with the bulk of material sold towards the low end of the range.

Molybdenum cuts continue

The global economic slowdown is affecting both the demand, and price for molybdenum. To cope, companies are planning output cuts and plotting new investment strategies. For the few companies that have a very strong financial position, they are on the look out for acquisitions.

Roca provides production review for MAX Molybdenum Mine

Roca Mines Inc. provided production review for its MAX Molybdenum Mine and an outlook for ongoing operations. The MAX Molybdenum Mine has recently produced 245,754 lbs of molybdenum during September 2008 and 187,979 lbs of molybdenum during October 2008. For full story, click here For Roca’s website, click here