Peru's Cerro Verde Mine To Suspend Molybdenum Circuit
29 January 2009 - 1:07AM
Dow Jones News
Sociedad Minera Cerro Verde SAA, (CVERDEC1.VL) said late Tuesday
that it will temporarily suspend its molybdenum circuit, which
produced three million pounds of molybdenum in 2008.
In a note sent to the Peruvian securities regulatory agency,
Cerro Verde said that the suspension was due to "market
conditions."
The mine, majority controlled by Freeport McMoRan Copper &
Gold, (FCX) is located in southern Peru near the city of
Arequipa.
Compania de Minas Buenaventura SAA (BVN) and a subsidiary of
Sumitomo Corp. (8053.TO) also have equity stakes in the
company.
-Robert Kozak, Dow Jones Newswires; 511-99927 7269; peru@dowjones.com
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