January 06, 2023
2022 was another significant year for minerals mining and set the...
After a 17-year hiatus and $700 million in facility upgrades including a new mill, Freeport-McMoRan’s Climax Mine in Colorado’s Lake and Summit counties has officially marked its grand reopening as the world’s largest, highest-grade and lowest-cost undeveloped molybdenum ore body facility.
First mined back in 1916, almost 2 billion pounds of molybdenum have been produced from this historic mining operation. Today, at full capacity, it will process 28,000 tons of ore per day and extract 600 tons of molybdenum. Climax currently employs 300 people, but if the production rate increases to 30 million pounds per year as expected, employment will increase to approximately 400 employees including mining, mechanical, electrical, engineering, health and safety, and a variety of trade positions.
Sen. Mark Udall, D-Colo., released a statement on the impact the mine will have on jobs and the economy stating, “Colorado has a long and rich history in mining that stretches back to even before statehood. Just as Colorado’s earliest residents forged our state’s foundation with mining, the Freeport-McMoRan Climax Molybdenum Mine will help our state continue this tradition and thrive. The reopening of this mine will create jobs and provide another critical anchor for the economies of Climax, Lake County, Summit County and Colorado.”