Kennecott Utah Copper discovers molybdenum deposit

Kennecott Utah Copper discovers molybdenum deposit

Save Story

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

SALT LAKE CITY (AP) -- Kennecott Utah Copper says it has discovered a huge deposit of molybdenum beneath its Bingham Canyon Mine.

The company says it's unclear whether it will be feasible to develop a mine to extract the deposit, which is estimated at 500 million tons.

Molybdenum is a byproduct of copper production and is used in high-strength steel alloys. The silvery white metal is also a key ingredient in oil refining.

The company's open-pit mining operation is scratching the surface of the deposit, but the highest value ore lies about 1,500 feet below the pit bottom.

Kennecott parent company Rio Tinto announced about a year ago plans to invest $270 million to build a facility to more deeply process and refine molybdenum ore recovered at the Utah mine.


Information from: The Salt Lake Tribune

(Copyright 2009 by The Associated Press. All Rights Reserved.)

Related stories

Most recent Utah stories

Related topics



Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the Trending 5.
By subscribing, you acknowledge and agree to's Terms of Use and Privacy Policy.

KSL Weather Forecast