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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
07/28/201517:09:37Current Report Filing (8-k)
07/28/201510:52:00Freeport-McMoRan Announces Cost Reduction Plans
07/24/201517:31:33Miners Shed Thousands of Jobs as Commodities Prices Slide...
07/23/201516:33:23Current Report Filing (8-k)
07/23/201514:30:08Freeport-McMoRan Posts Loss, Hurt by Oil-and-Gas Properties
07/23/201509:30:07Freeport-McMoRan Posts Loss
07/23/201509:24:30Freeport-McMoRan Posts Loss, Hurt by Oil-and-Gas Properties
07/23/201508:00:00Freeport-McMoRan Reports Second-Quarter and Six-Month 2015 Results
07/14/201510:48:00Freeport-McMoRan Announces Organizational Changes
07/08/201508:03:02Freeport-McMoRan's New IPO: Smart Move or Selling Low?
07/02/201517:01:46Statement of Changes in Beneficial Ownership (4)
07/02/201517:01:46Statement of Changes in Beneficial Ownership (4)
07/02/201517:01:19Statement of Changes in Beneficial Ownership (4)
06/24/201517:01:00Freeport-McMoRan Declares Quarterly Cash Dividend on Common Stock
06/23/201518:50:33Freeport McMoRan Oil & Gas Inc. Files for IPO
06/23/201518:20:09Freeport McMoRan Oil & Gas Inc. Files for IPO
06/23/201518:15:08Freeport McMoRan Oil & Gas Inc. Files for IPO
06/23/201517:30:00Freeport-McMoRan Oil & Gas Inc. Files Registration Statement...
06/18/201514:00:093 Stocks to Watch in Copper
06/15/201514:00:24Confidential Treatment Order (ct Order)

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