Written by Gordon Hoekstra
Citizen staff
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Friday, 06 November 2009 |
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In the first nine months of the year, the company has had a profit of $30 million US.
“Thompson Creek’s financial results improved in the third quarter primarily due to higher molybdenum prices,” said Thompson Creek Metals chairman and CEO Kevin Loughrey.
Molybdenum prices averaged $12.75 US per pound in the third quarter, the three months ending in September, up from an average of $9.41 US in the quarter.
Molybdenum prices had plummeted from a high in the $30 US per pound-range in 2008 to the $8 level, caught in the slowdown in world demand for commodities because of turmoil in financial markets and a tightening in credit.
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Last Updated ( Friday, 06 November 2009 )
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