SOURCE: Industrial Info Resources

March 21, 2008 06:00 ET

Molybdenum Price Rise Justifies Approval of Molybdenum Mining Projects, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - March 21, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- The price of molybdenum is currently about $34 per pound, up from $2 per pound in 2002, and is nearing historic high prices set in 2005. During this period, molybdenum miners have optimized production and are looking for ways to expand capacity. Freeport-McMoRan Copper & Gold Incorporated (NYSE:FCX) (Golden, Colorado) and Thompson Creek Metals Company Incorporated (NYSE:TC) (Denver, Colorado) are some of the companies that have received approvals for molybdenum mine projects.

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