Rio Tinto Corporation plans to invest $ 340 million in the construction of a new autoclave companies in the structure of its remaining US company Kennecott Utah Copper. Due to such significant funds, Kennecott Utah Copper will be able to process more than low-grade molybdenum concentrates, and thus increase the extraction of metal from raw materials produced. It is from 1903 produces copper, gold and silver, and with the 1930s. — And molybdenum, which is incidental component of the copper in ore deposits of Bingham Canyon. Every year, Kennecott Utah Copper produces more than 13 thousand. Tons of molybdenum.
«We see good prospects for molybdenum due to the rapid pace of industrialization and urbanization of China and India. Such production does Kennecott Utah Copper one of the lowest cost suppliers in the world «, — said Kelly Senderz (Kelly Sanders), president of the company.
Molybdenum is needed for the manufacture of alloys and steels that can withstand high temperatures and aggressive environments. It is also a key component of oil catalysis processes where used to remove sulfur.
Rio Tinto Investment in this project are part of a plan to extend the life of the Bingham Canyon deposit after the 2020 construction of the company will be held in two phases, the first stratovala already on the site between the smelting and refining plants Kennecott Utah Copper. Start output is expected in the fourth quarter of 2012, with the release of a year to power about 13,600 thousand. Tons of molybdenum. The second phase will be completed in early 2015 and it will bring the production of molybdenum, up to 27 thousand. t.