Molybdenum Forum at San Francisco Hard Asset Investment Conference

Written by Market Wire

Friday, 01 December 2006

"Mr. Loesby's forecast indicates a need for production from new molybdenum mines of an estimated 150 million pounds annually by 2016. The figure below shows Mr. Loesby's forecast of production from existing primary and byproduct molybdenum producers. The production forecast does not include production from any new mines, nor does it include production from Phelps Dodge's Climax Mine in Colorado. Phelps Dodge has announced that it may reopen the Climax Mine in 2009. Climax is estimated to generate approximately 20 million pounds of annual production. The figure includes a demand forecast of 4 percent per year that is based on the historic trend of molybdenum demand. The full text of Mr. Loesby's presentation will be available soon on Western Troy's website." - More

 

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