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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
02/28/201412:30:10Freeport-McMoRan Issues Warning on Indonesia Unit
02/28/201412:15:51Freeport-McMoRan Warns of Potential Force Majeure in Indonesia
02/26/201407:12:08UN Sends More Troops to Cooper-Producing Province in Congo
02/06/201423:42:29Indonesia Won't Relax Smelter Sureties for Ore-Export Permission...
01/22/201409:32:00Freeport-McMoRan Profit Falls Despite Revenue Growth
01/13/201408:38:11Indonesia Gives Details on Its Mineral Export Ban
11/15/201309:19:39Omega Advisors 3Q 13F: Largest Purchases
11/15/201309:19:36Omega Advisors 3Q 13F: Holdings As Of Sep 30
11/15/201309:18:03OZ Management LP 3Q 13F: Largest Purchases -2-
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:18:02OZ Management LP 3Q 13F: Largest Purchases
11/15/201309:03:11Chilton Investment Co. 3Q 13F: Largest Purchases
11/15/201309:03:09Chilton Investment Co. 3Q 13F: Holdings As Of Sep 30
11/15/201309:03:09Chilton Investment Co. 3Q 13F: Holdings As Of Sep -2-
11/15/201308:53:17D. E. Shaw & Co. LP 3Q 13F: Holdings As Of Sep 30
11/15/201308:53:17D. E. Shaw & Co. LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201308:37:12Tontine Associates 3Q 13F: Holdings As Of Sep 30
11/15/201308:37:04Tontine Associates 3Q 13F: Largest Sales
11/15/201308:27:47S.A.C. Capital Advisors LP 3Q 13F: Holdings As Of Sep 30

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