Getting your player ready...
DENVER—The Climax mine near Leadville is producing molybdenum concentrate again.
The Denver Post reports ( ) the mine made its first batch in 17 years Thursday.
The historic mine closed in 1987 after molybdenum prices crashed, costing about 3,200 jobs. The mine later reopened but closed again in 1995.
Its latest owner Freeport-McMoRan Copper & Gold Inc. spent $700 million on a new mill and other equipment to reopen. Mine officials say production is expected to reach 20 million pounds annually by 2013. It was designed with the capacity for 30 million pounds per year.
Today the mine employs 300 workers.
Molybdenum is used in steel production.
———
Information from: The Denver Post,
