by Charlotte McLeod • May 30, 2018
Shaun Dykes and Trevor Burns of American CuMo Mining explain how their company can compete with large molybdenum producers.
It’s been a busy year for American CuMo Mining (TSXV:MLY), and at the recent Mines and Money conference in New York, Shaun Dykes, American CuMo’s president and CEO, and Trevor Burns, CFO and director at the company, shared details on what’s been happening over the last few months.
Notably, said Dykes, American CuMo recently completed an updated preliminary economic assessment (PEA) for its CuMo project in Idaho, one of the largest deposits of molybdenum, copper, silver, tungsten and rhenium in North America.
According to Dykes, the low costs outlined in the new PEA are what make American CuMo different from large molybdenum producers that have struggled with recent low prices.
“The current molybdenum producers that have been shutting down are all high-cost producers,” he explained. “But because of our scale, because of our by-products, we are a low-cost producer. We’re economic, even when moly was at its lowest price during the last period.”
Read the full article and watch video on INN
by Frik Els • March 30, 2018
According to a report from Phys.org, a team led by Kyeongjae Cho, professor of materials science and engineering at the University of Texas, found that molybdenum, mainly used as an alloy in the steel industry, solves the problems associated with lithium sulphur batteries:
Read the entire article on Mining.com
by Eileen Capson • July 26, 2017
IDAHO CITY — Phil Bandy, Executive Vice President of Operations for Idaho CuMo Mining Corporation spoke regarding the ongoing project in Boise County and its potential effects on the region. “The Company is committed to exhaustive adherence to modern mining practices, stewardship of all natural resources, reclamation of the preexisting historic mining damage, and meaningful community engagement,” Bandy said. The Idaho City Chamber of Commerce arranged primarily for key groups, individuals and representatives from the Idaho City community to speak at this open meeting held on July 18th.
In his presentation, Bandy explained more about the hiring of “native Idahoans – like myself – or long term residents of the state.” There is some speculation that the mine could be ready to enter the production phase in five years; however, it is still considered an “exploration project”.
American CuMo, a Canadian based company, recently announced 100% ownership of the land, which increases the value of the project.
“Modern mining practices are critical to the responsible development of the CuMo Project. Strategic partnerships with public and private entities will produce positive community outcomes and ultimately result in a well-developed project plan,” Bandy said. “Should the CuMo Project advance to construction and production, it is projected that it could contribute millions of dollars in taxes, fees and other payments to the local, state and federal governments. It’s estimated that the CuMo Project could, “create as many as 5,000 jobs during the mine construction phases and 1,000 jobs for 100 years during production.” The average wage in Idaho would be $65,000, according to the Idaho Mining Association.
“The CuMo Project has the potential to produce 70 million pounds of molybdenum per year for decades,” along with substantial amounts of silver and copper. Molybdenum is used to strengthen and extend the longevity of steel used in infrastructure, such as buildings and bridges.
Phil Bandy addressed the question of how the CuMo Project could shape the future of Idaho City, “With the continued backing of Idaho City and Boise County residents, the CuMo Project has the potential to significantly benefit the local population through the creation of direct and indirect employment, skills transfer, enhancing the capacity of health and education services, improved infrastructure and business opportunities.”
“We will ensure that local people and local companies receive prior consideration for employment and business opportunities, based on qualifications and merit.”
The CuMo Project plans to continually work with local residents, communities and governments, in being “open, honest and forthright.” The company also plans to hold an upcoming community meeting, in Placerville, which is open to all Boise County residents.
Read the article on Idaho World
by Shaun Dykes, President & CEO and Lisa Anderson, Vice President of Government Relations • April 19, 2017
President Trump has called for massive infrastructure investments with proposals ranging from $500 billion to $1.1 trillion. The Administration’s infrastructure plan expresses their intent to use American-made materials to rebuild or expand roads, airports, railroads and pipelines. They have taken an unwavering “buy American; hire American” stance in relation to rebuilding the United States’ aging infrastructure and increasing defense capabilities.
The U.S. has the engineering expertise, a highly-skilled workforce, and the technology to undertake this expansive improvement initiative. However, the country is faced with an inadequate supply of domestic steel, especially high-grade molybdenum steel. This shortage presents an exceptional opportunity for Idaho’s molybdenum deposits, particularly the developing CuMo Project in Boise County.
Idaho is rich in molybdenum, a strategic metal used primarily as an alloying agent in steel, cast iron, and super alloys to enhance hardening ability, strength, toughness, wear, and corrosion resistance. Many of the projects proposed by the Trump Administration will require molybdenum-enhanced steel to assure that it will endure for decades to come. It has been shown that pipelines constructed with molybdenum steel last two to three times longer than other types of steel.
The world’s demand for molybdenum continues to rise, with the International Molybdenum Association estimating that the world will need an additional 200 million pounds annually over the next decade. While the demand for domestic steel increases, the U.S. imports 100 percent of 20 strategic metals and minerals and 50 percent of 30 more.
The CuMo Project, under the management of Idaho CuMo Mining Corporation (ICMC), is positioned perfectly to lead the nation in closing the gap between the supply and demand necessary to meet the Administration’s infrastructure plans. CuMo has the potential to produce 70 million pounds of molybdenum per year for decades, while providing thousands of well-paying jobs in one of the State’s poorest counties. Decades of strategic exploration and environmental studies have demonstrated the CuMo Project to be environmentally safe, an extremely low-cost producer, and a sustainable job source for up to 100 years.
However, despite its enormous promise and potential, the permitting process continues to delay this much-needed project and others throughout the U.S. To date, ICMC has spent over $3.3 million and 10 years in complying with NEPA regulations and processes; some of which are standard and some of which are considered extraordinary and duplicative measures for a project of this type. Clearly, the NEPA process is not working as it was intended. Both the U.S. House and Senate have introduced bills (H.R. 520, S. 145) that, should they pass and be signed into law, will require federal agencies to stick to the 30-month statutory permitting timeline for “strategic and critical minerals” mining projects on federal land.
Other countries have already reconciled their high environmental standards and the need to produce sustainable, domestic sources of strategic minerals and metals. Australia and Canada adhere to similarly stringent, environmental platforms and permitting processes for mines, yet it takes only 2-3 years to navigate.
The U.S. must learn to maintain strict regulatory oversight while simultaneously streamlining the permitting process for critical, strategic mineral projects, thus loosening our national dependency on foreign sources. Our closest environmental allies are successfully doing it. With the resolve of Congress and the President’s Administration, the U.S. is positioned to follow suit. By doing so, our national security and economy will improve immensely with secure and sustainable domestic sources of strategic minerals and metals. The time is now for Congress to act.
Shaun Dykes
President & CEO
Idaho CuMo Mining Corporation
Lisa Anderson
Vice President of Government Relations
Idaho CuMo Mining Corporation
by Charlotte McLeod • January 21, 2016
The company recently announced that the use of ore-sorting technology could allow for big upgrades at its CuMo deposit.
Located in Idaho, American CuMo Mining‘s (TSXV:MLY) CuMo project is impressive. It’s the largest unmined moly project in the world, but also contains significant copper and silver credits — in fact, it holds so much silver that it’s one of the 25 top silver deposits in the world.
Read the full article and watch video on INN
April 14, 2015 – KTVB
BOISE COUNTY – There’s a new step forward for CuMo Mining Corporation. The company is seeking approval to mine in the Idaho City area. Geologists believe a spot 14 miles northwest of Idaho City could have some of the largest Molybdenum deposits in possibly the world. The mineral is used to strengthen steel and is found in wind turbines and in cell phones, it is also used to help build skyscrapers.
Recently, a report was completed by the U.S. Forest Service that found no significant environmental impact to the area’s groundwater.
This means CuMo can tentatively complete its exploration drilling phase . . .
Read the full article and watch video on KTVB
It’s been a long time coming, but American CuMo Mining (TSXV:MLY,OTC Pink:MLYCF) has overcome a significant hurdle in the permitting process for its massive CuMo Project in Idaho . . .
American CuMo Mining Corporation (TSXV:MLY) Chief Executive Officer, Shaun Dykes, spoke to Resource Investing News at the Vancouver Resource Investment Conference about the CuMo Project in Boise, Idaho. In 2013, the Company transitioned and re-focused solely on the CuMo Project so in 2014, investors can expect news about financing, a resource calculation, bulk sampling, and an economic analysis.
CuMoCo is focused on advancing its CuMo Project towards feasibility and establishing itself as one of the largest and lowest-cost molybdenum producers in the world as well as a significant producer of copper and silver. Management is continuing to build a strong foundation from which to move the Company and the CuMo Project forward.
DISCLOSURE: American CuMo Mining Corporation (the “Company”) is a sponsor of Moly Investing News owned by Dig Media Inc (‘Dig’). Sponsorship of Moly Investing News means that the Company is a sponsor of Moly Investing News for 365 days (the “Sponsorship Period”), and is a featured company during the Sponsorship Period and is profiled on molyinvestingnews.com and in an analyst interview during the Sponsorship Period. The interviews may include information that represents the views of third parties and may not necessarily be representative of the views of the Company.
Recently published July 5th article in Mining Journal, featuring American CuMo Mining Corporation (CuMoCo).
Please click to view/download the July 5, 2013 article in Mining Journal
Mining Journal, based in London, UK is the industry’s leading weekly newspaper covering all aspects of the global mining industry, from grassroots exploration, through financing and development, to production and marketing. Published every Friday since 1835, Mining Journal is the single definitive source for international mining intelligence.
DISCLOSURE: American CuMo Mining Corporation (the “Company”) is a paid advertiser of Mining Journal. Paid advertiser of Mining Journal means that the Company is featured and profiled on mining-journal.com. The featured article and website may include information that represents the views of third parties and may not necessarily be representative of the views of the Company.
In an interview with Resource Investing News, American CuMo Mining Corporation’s CEO Shaun Dykes discussed the significance of being a low-cost producer, not only in today’s market, but when the markets improve. Mr Dykes offers a somewhat contrarian perspective to the doom and gloom of many by suggesting to investors that, “Crisis is opportunity…and the time is now to invest in companies that have world-class assets.” For more of this interview and to learn about the CuMo Project’s impressive investment fundamentals, please watch the video.
DISCLOSURE: American CuMo Mining Corporation (the “Company”) is a sponsor of Moly Investing News owned by Dig Media Inc (‘Dig’). Sponsorship of Moly Investing News means that the Company is a sponsor of Moly Investing News for 365 days (the “Sponsorship Period”), and is a featured company during the Sponsorship Period and is profiled on molyinvestingnews.com and in an analyst interview during the Sponsorship Period. The interviews may include information that represents the views of third parties and may not necessarily be representative of the views of the Company.