As a result of weak demand in the worldwide steel business, Cyprus Minerals (NYSE) recently announced a temporary shutdown of its Thompson Creek primary molybdenum mine in Idaho.
The operation employed 200 people. Cyprus said the mine has been successful in reducing its costs, and is positioned to resume production at short notice when market conditions warrant. The company expects to meet customer demand for molybdenum from byproduct production at its Sierrita and Bagdad copper mines in Arizona.
Be the first to comment on "Cyprus shuts down molybdenum mine"