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Unformatted text preview: pounds per year, increasing to 30
million pounds as long as the molybdenum price
remains favorable. The Climax Mine is expected to
employ more than 500 additional workers.
The Cripple Creek and Victor Gold Mining Company, owned by AngloGold Ashanti, experienced
another record year at their Cresson Mine, buoyed
by the rising gold price. The mine produced
233,429 ounces of gold and 51,903 ounces of silver
in 2010. The average price of gold in 2010 was
$1,370 per ounce, for a total value of $322 million.
Projections for 2011 show a gain in production, to
265,000 ounces, and a higher gold price of $1,600
per ounce, for a total product value of $424 million. The Cresson Mine is one of the lowest cost
producers in AngloGold Ashanti’s portfolio. The
mine employs 330 people in Teller County. 2012 Colorado Business Economic Outlook The uranium price has remained below $60 per
pound in both 2010 and 2011, and no uranium
mining was recorded in either year. Consequently,
no vanadium, which is located along with uranium, was produced. generation in Colorado. The Peetz Table Wind
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