Climax looks for 145 workers for open-pit prep

About 145 job openings in open-pit preparation are being listed this week for the Climax molybdenum mine atop Fremont Pass in Lake County.

Tara Hosick, Climax community relations manager, said the jobs will be posted on the FCX Freeport-McMoRan Copper & Gold website and listed with Colorado Workforce Center.

She said they aren't contract jobs and workers will be employed by Freeport-McMoRan. When the project is complete, those employees will have the option of applying to continue at the mine.

The company is planning 385 jobs at Climax when the mine is at full production - 85 more than first estimated, Hosick said.

Although no start-up date has been set, Richard Adkerson, president and chief executive officer, said last week construction is advancing at the mine to "give us the ability to make the decision to start."

Adkerson spoke during the company earnings call for fourth quarter 2010.

Climax is a $700 million project, Adkerson said, with remaining costs of $450 million. Company plans call for spending $350 million this year, meaning the mine opening will be nearing completion.

After Climax begins operation, it is designed to produce 30 million pounds of molybdenum annually.

"It has the resource to allow us to consider really significant expansion options beyond that," Adkerson said.

Responding to a query about a time line the Climax mine reopening, Adkerson predicted early 2012.

Hosick said the company will work with the Leadville-Lake County Chamber of Commerce regarding available labor and housing.

The 2010 fourth quarter company report showed net income attributable to common stock was $1.5 billion or $3.25 per share. That compared with net income of $971 million, $2.15 per share, during fourth-quarter 2009.

Net income attributable to common stock for overall 2010 was reported as $4.3 billion or $9.14 per share, compared with $2.5 billion, $5.86 per share, for all 2009.

Regarding molybdenum, consolidated sales from mines for fourth-quarter 2010 totaled 17 million pounds compared to 16 million pounds during fourth-quarter 2009.

Overall 2010 sales totaled 67 million pounds compared with 58 million pounds during 2009.

Consolidated sales from mines this year are predicted at about 70 million pounds of molybdenum.