Brief by Central Staff
Mining – June 2001 – Colorado Central Magazine
Molybdenum prices keep dropping, and so there will be some cutbacks this summer at the Henderson Mine — the last operating part of Climax Molybdenum Co., now a subsidiary of Phelps-Dodge.
In 1998, moly was selling for $3.42 a pound on average, and by 2000, that had dropped to $2.56.
That means production will be cut back at the Henderson Mine, with some suspensions in June, July, and August to reduce 2001 production by about 3.5 million pounds. The mine, near the summit of Berthoud Pass, has about 300 employees.
It also means that the Climax Mine, at the top of Frémont Pass, won’t be operating again at any time in the immediate future.