Sponsored by China Mining Association (CMA)
About Chinese Contribution

Home >> Investment >> Investment News

Canadian, Chinese companies sign deal on proposed Idaho mine

(Associated Press)
Updated: 2016-06-12 16:03

    A Canadian mining company has reached an agreement with a Chinese firm that will bring $700 million in financing for a possible open-pit molybdenum mine near Boise, Idaho.

    Vancouver, British Columbia-based American CuMo Mining Corp. said it reached the deal with Hong Kong-based MCC8 Group Co. Limited.

    American CuMo said it marks a major step in paying for a feasibility study and will keep local control of the project with its subsidiary, Boise-based Idaho CuMo Mining Corp.

    The area northeast of Boise contains the largest unmined deposit of molybdenum in the world, the company said.

    Estimates run from at least 2 billion tons to as much as 4 billion tons of molybdenum, copper and silver worth up to $60 billion at current prices.

    Estimates put the deposits at 65 percent molybdenum, 32 percent copper and 3 percent silver, Shaun Dykes, American CuMo's president and chief executive officer, said Thursday.


Comment: Name ValidCode View Comment
  Copyright 2001-2010. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Mining Association (CMA). Without written authorization from CMA, such content shall not be republished or used in any form.
If you have any suggestion or opinion, please contact us: (8610) 66557688 or
Note: Browsers with 1024*768 or higher resolution is suggested for this site. Mail Server