Sojitz Corporation of Japan and its partner, the Canadian company Thompson Creek Mining agreed on joint investment of 500 million Canadian dollars in a molybdenum mine Endako (British Columbia) to increase its productivity.
Previously, the project to expand capacity of the enterprise has been «frozen» due to the reduction of consumption of molybdenum caused problems in the world economy, but now there were signs of recovery in demand for this metal. Completion of the project is expected in the second half of 2011
As a result, the annual release of molybdenum in concentrate production will increase from the current 4.5 thousand. Tons to 7.3 ths. Tons. The investment will also help to increase production efficiency and reduce operating costs.