CESCO: KGHM still confident as ‘Sierra Gorda shadow’ keeps moly prices pegged back

KGHM remains confident in the long-term prospects for the molybdenum market as it prepares to bring the Sierra Gorda copper-moly project online, president and ceo Herbert Wirth told Metal Bulletin.

The company has completed pre-stripping on the Chilean project and is set to commission the mine in June, working with joint venture partner Sumitomo. At full production, the $4 billion mine will add 120,000 tonnes of copper and 50 million lbs of molybdenum to worldwide supply. Because of the geology of the deposit, moly output will be at its highest during the first few years of the mine life, Wirth told Metal Bulletin. “Moly has a huge impact in the first five years but if you look at the geological...

Published

Mark Burton

April 10, 2014

15:20 GMT

London