Kennecott Utah Copper has finally decided to get in with themolybdenum market. It was planned over 2 years ago that they were going to build a plant in Magna, this was all planned before the recession hit.
It will be able to process lower grade molybdenum and Rio Tinto want to invest $340m to have the building ready for 2015. it will employ 50 people and Kelly Sanders, Company president says “The outlook for molybdenum demand is very strong, driven by the rapid urbanization and industrialization of China and India,”.
