General Moly halts Mount Hope work

Mar 27, 2009 | 10:44 AM | Mick Bowen

General Moly Inc. has halted construction at the Mount Hope molybdenum project in Eureka County, Nev., in an effort to cut spending by about $1 million per month as it awaits an improvement in the molybdenum market and a loosening in lending.

Lakewood, Colo.-based General Moly will continue with the site's permitting process, which it now expects to be complete by the middle of next year compared with previous expectations of the end of 2009.....

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