Thompson Creek halts mine stripping activity
Oct 03, 2012 | 01:17 PM
| Barbara O'Donovan
Tags
Thompson Creek Metals,
Kevin Loughrey,
molybdenum,
Mount Milligan,
Thompson Creek Mine,
Langeloth
NEW YORK — Thompson Creek Metals Co. Inc. is suspending stripping activity at its namesake mine in Idaho in an effort to save nearly $110 million between now and 2014.
"As a result of continuing weakness and uncertainty in the world economy, we have decided to reduce our costs, strengthen our balance sheet and conserve cash," chairman and chief executive officer Kevin Loughrey said in a statement.
Operations at the Thompson Creek Mine will continue through 2014 in the current stage of production, referred to as Phase 7. But the next phase of production, Phase 8, has been suspended, the miner said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here