Moly Mining on the Continental Divide
Source: Steel Guru (3/14/11)
"The Continental Divide region could meet 100% of global moly demand."
To examine the region's molybdenum potential, one must look on the outskirts of the Rockies, into the surrounding areas that also produce massive copper molybdenum deposits like Utah's Bingham Canyon Mine and some sizeable deposits in Nevada. The Continental Divide region arguably hosts the world's most important moly producing deposits.
The Henderson Mine has produced 770 million pounds (Mlb.) of molybdenum since 1976. The Climax mine is capable of putting 30 Mlb. molybdenum into the market and because mining was conducted at the site for years, the start up should be relatively easy. There are reports that the mine is coming back online in the near future. . .the main factor that could keep full production from starting is the reported surplus of moly currently on the market that could keep prices at bay in 2011.
Bingham Canyon is the most important copper moly mine in the U.S., if not the world. Located just outside Salt Lake City, Utah, it has produced more copper than any mine in the world over its lifetime. In 2009, the mine produced 24.9 Mlb. molybdenum.
The CUMO project in Idaho features one of the largest moly deposits in the world. The resource base has an I&I resource of 4.1 billion pounds molybdenum oxide and massive amounts of copper, silver and tungsten.
The Continental Divide is one of the world's most-prolific molybdenum regions and, at full production, could meet 100% of global moly demand.