US-headquartered Freeport-McMoRan (FCX), the world’s leading molybdenum producer and supplier, has announced its operational results for 2019.
In the fourth quarter of 2019, the output of molybdenum produced at Freeport-McMoRan’s mines totaled 21 million pounds, down 20 percent year on year. In the full year, the production of molybdenum fell by 5.3 percent compared to the previous year to 90 million pounds. The decrease primarily reflects the impact of unfavorable market conditions. As a result, Freeport-McMoRan’s sales of molybdenum amounted to 90 million pounds in 2019, down 4.3 percent compared to 2018. Meanwhile, its sales in 2020 are expected to be approximately 88 million pounds, according to the official statement.
The majority of the molybdenum concentrate is produced at the Henderson and Climax mines (North America), as well as by-product at FCX's North America and South America copper mines.