Codelco announced late last week production/sales results of 2011. Total output of molybdenum during the year was, according to the results, 50.7 million pounds (23,000 tons) of molybdenum content, up by 4.5% from 48.5 million pounds (22,000 tons) produced in 2010, and quantity sold in 2011 was 50.7 million pounds (23,000 tons) of molybdenum content, up by 9.5% from 46.3 million pounds (21,000 tons) sold in 2010.|
Molybdenum production by Coldelco peaked at 80.6 million pounds in 2005, since when the production continued to decline to reach 45 - 46 million pounds in 2008/2009. In the past two years, molybdenum production gradually increased as copper production increased.
The announced results included output of other metals in the year, i.e. <> copper: 1,735,000 tons (up by 2.7% from 2010), <> silver: 393 tons (down by 0.3%), <> gold: 3.3 tons (down by 5.7%). Price of all these metals went up in 2011 YoY, while molybdenum price declined.