Freeport-McMoRan will slash production from the Climax open pit molybdenum mine by around 50% for the rest of the year in response to global market conditions and has cut its annual molybdenum sales guidance by 9%, the company said.
The Colorado, United States-based Climax mine, which produces high-purity, chemical-grade molybdenum concentrate, reported output of 17 million lbs or 7,700 tonnes of molybdenum in 2019.Freeport now expects total group sales of 59 million lbs or 26,761 tonnes of molybdenum...