|
|
Article: New owners debate opening Climax mine.
- Article from:
- The Pueblo Chieftain (Pueblo, Colorado)
- Article date:
- August 3, 2007
CopyrightCOPYRIGHT 2007 The Pueblo Chieftain. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Tracy Harmon
Aug. 3--LEADVILLE -- New owners of Climax Molybdenum Mine -- what was once the world's largest underground mine -- will decide by the end of the year if they plan to go ahead with the late 2009 opening of the mine that has stood dormant for 12 years.
Freeport McMoRan of Phoenix, which purchased the mine when it bought the Phelps-Dodge company late last year, is conducting a final feasibility study delving into the possible reopening.
Among factors the company is looking at in its study is the increased demand which has driven the price of molybdenum up to $35 per pound and the long-term prospects for the market.
...