Thompson Creek's revenue rises amid moly slump

Aug 08, 2013 | 01:29 PM | Daniel Fitzgerald

Tags  Thompson Creek Metals, molybdenum, moly, earnings report, Kevin Loughrey, Mount Milligan, Daniel Fitzgerald

NEW YORK — Thompson Creek Metals Co. Inc. recorded higher revenue in the second quarter despite plunging molybdenum prices, and the company’s Mount Milligan copper-gold mine in British Columbia is expected to start up "within days."

The Denver-based company posted revenue of $117.8 million for the three months ended June 30, up 3.8 percent from $113.5 million in the same period last year. A net loss of $19.2 million, up 29.7 percent from a year earlier, included a $34.8-million non-cash foreign exchange charge on intercompany notes and an income and mining tax expense of $2 million.....

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