Rio Tinto to Invest in Molybdenum Facility
Construction of phase two, which will bring total production capacity to 60 million pounds/year, is anticipated for completion in the first quarter of 2015. Molybdenum is used in metal alloys (including steel) to enhance toughness, high-temperature strength and corrosion resistance. KUC produces approximately 30 million pounds of molybdenum each year. According to KUC, the outlook for molybdenum demand is very strong due to the urbanization and industrialization of China and India.