One Famous Company Slashes Copper, Molybdenum Output Again
This company is slashing copper and molybdenum production further amid weak market conditions, although it remains optimistic about the long-term outlook for both markets.
Another company, USA-based company will halve operating rates at its Sierrita copper-molybdenum mine in eastern Arizona in response to depressed prices, resulting in the curtailment of around 100 million lb of copper and 10 million lb of molybdenum per year, the miner said in its third-quarter earnings report. Combined with production cuts announced in August, curtailments will total 250 millionlb of copper (5% of 2016 production) and 20 million lb of molybdenum (20% of 2016 output) per year. "We’re looking at the possible full shutdown of Sierrita," Freeport-McMoRan vice chairman.
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