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Rio talks down moly

IT MAY merely have been a case of talking up its own book and scaring off the opposition, but potential molybdenum producers still wouldn’t have enjoyed what Rio Tinto management had to say about the metal’s prospects in an analyst briefing this week.

Michael Quinn
Rio talks down moly

According to UBS Investment Research, Rio’s CEO of copper and exploration, Tom Albanese thinks a more “stable” molybdenum price is $US2-4 per pound – someway south of the current price of around $US30/lb....

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