KGHM Confident About Moly’s Long-term Outlook

Metal Bulletin reported that according to Herbert Wirth, president and CEO of KGHM Polska Miedz SA (WSE:KGH), his company is confident about molybdenum’s long-term prospects.

Currently, KGHM is working on bringing its Sierra Gorda copper-moly project online.

As quoted in the market news:

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

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