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Moly Mines Limited
Moly Mines is an ASX and TSX listed resource company
Before its mine-gate sale in June 2013, Moly Mines mined four areas of iron-ore mineralisation at the Spinifex Ridge iron-ore mine. They are known as Auton, Auton North East, Dalek and Gallifrey (Iron Ore Project), and are located 500m to the east of the Spinifex Ridge molybdenum-copper resource. Production began in late 2010 with an expected annual production rate of 0.8-1Mt/y. It achieved 1Mt of ore mined and crushed for the calendar year in December 2011 and the mine celebrated the sale of the one millionth tonne of iron ore, which was achieved within 12 months of first shipment.
The Spinifex Ridge molybdenum project, located on the same mining leases as the Spinifex Ridge iron-ore mine, is development-ready with all environmental approvals received. In December 2011, Moly Mines reported that the project would be put on hold due to the continued weakness of global molybdenum prices and the strength of the Australian dollar that rendered the project sub-economic for the time being. The project remains on care and maintenance with tenement and permitting obligations being met.
The Company is currently focussed on merger and acquisitions of near term production opportunities that can be financed independently.
On 23 April 2010 Moly Mines welcomed Hanlong as the Company’s controlling shareholder (55%) following the settlement of the US$200 million equity and debt funding package.
Contact Us
PO BOX 78023 784 Taunton Rd. E.
Oshawa, ON
L1H 7K0
Toronto, Canada
Telephone: +1 416-777-1801
or: +1 416 371 7541
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