Colorado: Climax Mine is back in business

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…)

Freeport-McMoRan pays $6.8 million in settlement for natural resource damage at Morenci Mine in Arizona

Toxic sludge killed thousands of birds at open pit copper mine

The Morenci Mine, Arizona. Photo courtesy T.J. Blackwell via Wikipedia and the Creative Commons.

By Summit Voice

SUMMIT COUNTY — The Freeport-McMoRan Corporation, owner of the Henderson and Climax molybdenum mines in Colorado, recently agreed to pay $6.8 million for natural resource damages at its Morenci Mine in east-central Arizona.

The U.S. District Court for Arizona recently approved the settlement, which involves the multinational mining giant, as well as the State of Arizona, and the U.S. Fish and Wildlife Service. (more…)

Summit Rotarians visit the Climax Mine

Summit Rotary Club members during a recent tour of the Climax Molybdenum mine at Fremont Pass. PHOTO COURTESY DON SATHER.

Tour helps shed light on differences between historic and modern mining practices

By Summit Voice

The Summit County Rotary Club recently followed up on last month’s visit to the abandoned Pennsylvania Mine with a tour of the open-pit Climax molybdenum mine near Leadville.

Summit Rotary Club president Don Sather organized the tour along with fellow Rotarian Fred Menzer, vice president of Climax mine operations in Colorado. Climax is a subsidiary of global multinational Freeport-McMoran Copper & Gold, the world’s largest publicly traded copper company.  (more…)

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