After 17-year pause, the mine shipped 21,000 pounds of molybdenum concentrate in early May; grand opening with public tours set for Aug. 8

Global molybdenum production was at an all-time high in 2011 but most experts expect the price to hold steady at about $15 per pound for the next few years, possibly as long as a decade.
By Summit Voice
SUMMIT COUNTY — After a 17-year pause, the Climax molybdenum mine is back in business.
The first load of molybdenum concentrate, amounting to approximately 21,000 pounds of molybdenum, was shipped out the gate on May 10, according to a press release from parent company Freeport-McMoRan. At the current market price of about $15 per pound, that would be about $315,000 worth of molybdenum.
The price for molydenum concentrate has varied from less the $5 per pound from 1998 through 2002, up to $35 per pound in 2005, then dropping back down to under $10 per pound in 2009.
The U.S. is the world’s second-leading moly producer, after China. The Henderson Mine, on the border of Summit and Grand counties, is the second-largest moly mine in the world, after the Chuquicamata Mine in Chile. (more…)
Filed under: Colorado, Summit County Colorado, Summit County news | Tagged: Climax Mine, Freeport-McMoRan, Leadville Colorado, molybdenum mining, Summit County Colorado | Leave a Comment »


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