NEW HOPE AT CLIMAX HIGH MOLYBDENUM PRICES COULD SPARK REOPENING OF MINE

From: Rocky Mountain News | Date: May 24, 2005| Author: Gargi Chakrabarty, Rocky Mountain News News staff writer Gil Rudawsky contributed to this report | Copyright information

After lying dormant for a decade, the storied Climax molybdenum mine near Leadville could reopen - a sign of resurgence in Colorado's mining industry and its economy.

Growing demand for steel, especially from developing economies in China and India, and the skyrocketing price of molybdenum have prompted Climax owner Phelps Dodge Corp. to look into activating the historic mine.

The mine, whose portal sits at an altitude of 11,300 feet, has been operating on a skeleton crew since i...

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