Molybdenum/Supply restricted in the face of cost cutting

摘要

Freeport McMoRan has recently announced it will not rule out further output cuts, even after announcing output at Henderson would be reduced by 25 percent and the reopening of the climax mine would be deferred. As they stand, the cuts should lead to a 13 percent reduction in 2009 output and 30 percent in 2010. Further to this, Thompson Creek has announced a postponement to the expansion at the company's Endako mine, following on from the announced postponement of the Davidson project on November 6~(th). Also, while trying to reassure investors that the project will not be shelved, General Moly has given the first signal of trouble for the Mt, Hope project, saying that it may need to be deferred until such a time when credit becomes not only more freely available, but affordable.