Climax Molybdenum Company, a subsidiary of Freeport-McMoRan, is one of the world’s leading molybdenum producers. From our early beginnings in Colorado, Climax Molybdenum has grown into a global, diversified company with downstream operations and a proven commercial presence worldwide. Climax Molybdenum is committed to being the world’s quality, safety and reliability leader in molybdenum and metal-based products for a variety of high-value applications in the steel, oil, chemical, automotive, aerospace, construction, electronics and general industries.
There is a growing global demand for molybdenum, a versatile element with diverse applications in the chemical, engineering and petroleum industries. Molybdenum and its alloys are key components in chemical and metallurgical applications.
Molybdenum strengthens steel, resists heat and adds corrosion resistance to a wide variety of products. Its chemical products remove sulfur from crude oil, which results in cleaner-burning fuels and cleaner air. Molysulfide is used as a lubricant that can sustain its durability in tough operating conditions, such as with automotive brakes. We operate our business and our development plans prudently with an optimistic view about long-term, global demand for these metals.
Ore Reserves and Colorado’s Role
As of December 31, 2015, FCX’s consolidated molybdenum reserves approximate 3.05 billion lbs with Henderson and Climax comprising about 26% of the consolidated reserves and the balance as byproduct at certain of FCX’s copper mining operations. Reserves, net to FCX, total 2.73 billion lbs.
We supply natural resources that connect and sustain the world’s infrastructure. In Colorado we primarily produce molybdenum. Our operations in North America and South America include both primary and by-product molybdenum mines. We are also one of the leading global producers of molybdenum with chemical and metallurgical products manufactured at our production facilities in the United States and Europe. Our Fort Madison’s conversion capabilities provide Climax Molybdenum with a premier source for upgraded molybdenum chemical products. The Climax Stowmarket plant in the United Kingdom provides ferromolybdenum and Climax Molybdenum B.V. in the Netherlands produces technical molybdic oxide, ammonium dimolybdate and pure molybdic oxide.
Serving customers worldwide, Climax Molybdenum’s resources are well positioned to maintain molybdenum production rates for decades to come.
1.6 billion p