FCX 2013 moly (not including byproduct moly) Molybdenum Mines. FCX has two wholly owned molybdenum mines in North America - the Henderson underground mine and the Climax open-pit mine, both in Colorado. The Henderson and Climax mines produce high-purity, chemical-grade molybdenum concentrates, which are typically further processed into value-added molybdenum chemical products.
Operating Data. Following is summary consolidated operating data for the molybdenum mines for the fourth quarters and years ended 2013 and 2012:
| | | Three Months Ended | | Years Ended | |
| | | December 31, | | December 31, | |
| | | 2013 | | 2012 | | 2013 | | 2012 | |
| Molybdenum production (millions of recoverable pounds)a | | 12 | | | 13 | | | 49 | | | 41 | | b |
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| Unit net cash cost per pound of molybdenumc | | $ | 7.36 | | | $ | 7.53 | | | $ | 7.15 | | | $ | 7.07 | | |
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| a. Refer to summary operating data on page 3 for FCX's consolidated molybdenum sales, which includes sales of molybdenum produced at the molybdenum mines, and from the North and South America copper mines. |
| b. Includes molybdenum production from the Climax mine since the start of commercial operations in May 2012. |
| c. Unit net cash costs per pound of molybdenum for the 2013 periods reflect the results of the Henderson and Climax mines, and the 2012 periods reflect the results of only the Henderson mine as startup activities were still underway for the Climax mine. For a reconciliation of unit net cash costs per pound to production and delivery costs applicable to sales reported in FCX's consolidated financial statements, refer to the supplemental schedule, "Product Revenues and Production Costs," beginning on page XIII, which is available on FCX's website, "www.fcx.com." |
Market conditions for molybdenum declined in 2013 resulting from weak demand in the metallurgical sector and increased supply. FCX continues to monitor market conditions and adjusts its primary molybdenum production as market conditions warrant.
Based on current sales volume and cost estimates, unit net cash costs for the molybdenum mines are expected to average approximately $7.25 per pound of molybdenum for the year 2014.