CHILE - Toronto's FALCONBRIDGE reports that it has completed the modifications on a former copper roaster at the Altonorte copper smelter near Antofagasta and has started producing molybdenum trioxide. The modifications involved changing the material-handling systems and the addition of dedicated environmental control equipment.
The $6-million project was designed earlier this year and construction began in March. Production started on June 29 and achieved design capacity of 32 tonnes of molybdenum concentrate per day after a week and a half.
In 2004, the Altonorte smelter produced 266,440 tonnes of copper. See www.Falconbridge.com.
The European average price for molybdenum during the second quarter of 2005 was US$35.62/lb.