Freeport slates $500M to revive moly operation

Dec 05, 2007 | 02:37 PM | Meghann McDonell

Freeport-McMoRan Copper & Gold Inc. plans to restart its Climax open-pit molybdenum mine near Leadville, Colo. The New Orleans-based company expects to spend $500 million to bring the mine, which has been idle since 1995, back online.

The open-pit mine is slated to produce 30 million pounds of molybdenum a year starting in 2010, but annual output could reach 60 million pounds should the company pursue a second phase of the Climax project.....

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