The company reports that the climax mine at fremont

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

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 Energy Cente...
View Full Document

Ask a homework question - tutors are online