General Moly Granted Permission to Build Power Supply for Mt. Hope

General Moly (NYSE:GMO, TSX: GMO), announced that they have received permission to construct a power line that will support their Mt. Hope Project.

As quoted in the press release:

At full production the Mt. Hope mine will have a total electrical demand  load of approximately 75 megawatts. Transmission capacity was secured in 2008 with a cash deposit of approximately $13 million. The Company is currently negotiating for generating capacity, which will be available  once the power line is constructed and energized.

General Moly’s COO, Bob Pennington, said:

This permit allows us to build the transmission infrastructure in a timely  manner and provide the necessary capacity to power everything from the  electric shovels we will begin to use during pre-stripping operations to the 60,000 ton per day mill which will start up when Mt. Hope begins production.

To view the whole press release, click here.

Get the Latest Molybdenum Investing Stock Information

Get the latest information about companies associated with Molybdenum Investing delivered directly to your inbox.


By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

resource ebook2

Get the top stories on resource investing FREE!

Learn what is going on before you buy from this FREE Special Report, Who is Kitco? to US Mint: Sold Out! – Top Articles from Resource Investing News.

Leave a Reply