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|Freeport-McMoRan's Q2-2012 Molybdenum Production|
|= 20 million pounds, down 5% from 1Q-2012; commercial production started at Climax =|
Production and sales data during the Q2 (April - June) of 2012 of Freeport-McMoRan have been made known. Figures related to molybdenum and cobalt are in the attached table hereto.|
Total molybdenum concentrate production (molybdenum content in concentrates) during the Q2-2012 was 20 million pounds, down 4.8% from Q1 0f 2012. At Climax open-pit, Colorado commercial production started during the quarter and put out 1 million pounds in the quarter. Ramp-up to an annual production rate of 20 million pounds is expected in 2013, and dependent on market conditions, the rate can become 30 million pounds.
At the copper mines in North America producing molybdenum as a byproduct, such as Sierrita, Bagdad, Morenci and Chino), molybdenum production during the quarter was almost unchanged on the same ore grade compared to the preceding quarter.
At Cerro Verde, Peru, a copper mine producing molybdenum as a byproduct, molybdenum output was also unchanged from the preceding quarter.
At Henderson, a primary molybdenum underground mine also in Colorado, molybdenum output was lower during the quarter as molybdenum grade in the ores lowered to 0.22% from 0.25% in the preceding quarter. No data are made available with regard to the crude ore grade at Climax mine.
The company forecasts molybdenum production throughout 2012 will be 81 million pounds (of which 42 million pounds will be from the copper mines as a byproduct) including 20 million pounds to be produced in the Q3 (July - September).
Production of cobalt in the Q2-2012 was 6 million pounds, in which Freeport's share is 56% (about 4 million pounds), unchanged from the preceding quarter. At the mine, Tenke Fungurume in Democratic Republic of Congo, where cobalt is a byproduct of copper, ore output in the quarter was up 5.7% from the Q1-2012 (also up 33.0% from the year-ago quarter), setting off the lowered crude ore grade.
|last modified : Thu 26 Jul, 2012 [10:19]|