Thompson Creek seeks moly price recovery

May 10, 2013 | 04:37 PM | Daniel Fitzgerald

Tags  Thompson Creek Metals, quarterly earnings, molybdenum prices, molybdenum production, Kevin Loughrey, molybdenum, Thompson Creek Mine, Daniel Fitzgerald

NEW YORK — Molybdenum prices won’t improve without an economic catalyst to boost global demand, and Thompson Creek Metals Co. Inc. is unlikely to resume stripping at its namesake mine until prices improve, chairman and chief executive officer Kevin Loughrey told AMM.
Loughrey acknowledged that falling molybdenum prices had hurt Denver-based Thompson Creek’s first-quarter earnings, leaving the company vexed (, May 9). “It is very frustrating, but you wouldn’t find a person here who is surprised,” he said. “It’s a mining business. We sell a commodity over which we have no control in the price, so you just have to put your nose down and do the best you can.” ....

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