Brief by Central Staff
Mining – November 1995 – Colorado Central Magazine
With much publicity, the Climax Mine atop Frmont Pass re-opened on April 1 as an open-pit operation. Without much fanfare, the mine closed in August.
This chart illustrates how moly prices have fluctuated recently. The price was climbing when the decision was made to re-open the mine, and falling by the time the mine was in production. The plunge continued, even after shut-down.
Industry journals report that demand remains strong for moly (a record year is forecast, in fact), but the price is relatively low because production is also setting records, mostly as a by-product from copper mining, which is setting world-wide records.