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Article: Rio Tinto Announces $270 Million Investment in Molybdenum.
- Article from:
- Business Wire
- Article date:
- June 11, 2008
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LONDON -- Rio Tinto is to invest $270 million in the construction of a new Molybdenum Autoclave Process (MAP) facility at its Kennecott Utah Copper (KUC) Bingham Canyon operation in Salt Lake City. This will enable lower-grade concentrate to be processed more efficiently than conventional roasters, allow improved molybdenum recovery and operating flexibility and enable production of chemical grade molybdenum products.
Tom Albanese, chief executive of Rio Tinto, said: "The outlook for molybdenum demand is very strong, driven by the rapid urbanisation and industrialisation of China and India. KUC is one of the world's lowest cost producers of copper, and molybdenum ...