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Freeport-McMoRan's Climax Mine Now Producing Molybdenum Again -Denver Post

By Steve Raabe Of THE DENVER POST DENVER (Denver Post)--Freeport-McMoRan Copper & Gold Inc.'s Climax mine near Leadville, Colo., on Thursday produced its first batch of molybdenum concentrate in 17 years, the Denver Post reported. The historic mine had closed in 1987 after molybdenum prices crashed, leaving Leadville and Lake County in an economic depression with the loss of 3,200 jobs. Climax later reopened with a reduced work force until closing again in 1995. Freeport-McMoRan in 2007 announced plans to reopen Climax but put the plans on hold when moly prices again dropped sharply in 2008. In its new incarnation, the mine atop Fremont Pass employs 300 workers. Molybdenum is used as a hardening agent in steel, as a lubricant and in other industrial products. Freeport-McMoRan spent $700 million on a new mill and other equipment in preparation for reopening. Mine officials said production is expected to reach 20 million pounds a year by 2013 and could increase to 30 million pounds a year. http://www.denverpost.com

Stock News for Freeport Mcmoran (FCX)
DateTimeHeadline
11/03/201403:14:11Indonesia September Trade Deficit Wider Than Expected
10/28/201414:40:06Threats of Mine Strikes Lift Copper Prices
10/28/201410:36:39Copper Futures Climb on Worries Of Reduced Metal Supply
10/27/201418:21:07Freeport to Address Situation in Indonesia -- Earnings Preview
09/27/201407:25:14Indonesia Mine Halts Production After Four Killed in Crash
09/15/201402:30:28Freeport-McMoRan's Indonesia Operations Unaffected by Fatal Accident
08/07/201413:04:17Freeport-McMoRan Said Considering $5 Billion Sale of California...
08/05/201422:20:41Freeport Indonesia Resumes Copper Concentrate Exports Wednesday...
08/05/201408:36:30Indonesia 2Q GDP Growth Slows to 5.12% -- Update
08/04/201405:45:24Freeport Indonesian Unit May Start Exporting Copper Concentrate...
07/25/201402:15:05Indonesia President Approves New Contract Terms With Freeport...
07/17/201404:14:23Indonesia Demands Newmont Withdraw Arbitration Filing
07/07/201404:06:22Indonesia and Freeport Agree on New Mining Contract Terms: Minister
07/01/201407:09:48Newmont Files for Arbitration Against Indonesia Government on...
06/05/201415:31:48Newmont Mining Declares Force Majeure in Indonesia -- 2nd Update
06/03/201403:16:20Newmont Stops Copper Concentrate Production in Indonesia
05/07/201411:27:46Correction to "Encana to Buy Eagle Ford Assets From Freeport-McMoRan...
05/07/201410:57:15Encana to Buy Eagle Ford Assets From Freeport-McMoRan for $3.1...
05/07/201410:14:58U.S. Hot Stocks: Hot Stocks to Watch
05/07/201401:26:28Newmont's Indonesia Unit May Start Cutting Output by June 1

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