U.S. Energy eyes China in moly partner search

Apr 25, 2011 | 01:27 PM |

Tags  Thompson Creek, U.S. Energy, Mount Emmons, molybdenum, China

NEW YORK — Thompson Creek Metals Co. Inc. has terminated its option agreement with U.S. Energy Corp. to acquire an interest in the Mount Emmons molybdenum project in Gunnison County, Colo., the companies said Monday, paving the way for a possible Chinese investor to acquire the stake.

"We made the strategic decision to step back from the Mount Emmons project and focus our efforts and resources on our Berg exploration property located in British Columbia," Kevin Loughrey, chairman and chief executive officer of Thompson Creek, said in a statement.....

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