Nev. Enviro Regulators Greenlight $1.2B Mining Project

Law360, New York (November 26, 2012, 3:53 PM EST) -- Environmental regulators in Nevada gave their final go-ahead to a $1.2 billion molybdenum mining project helmed by General Moly Inc. in the central part of the state, paving the way for financing arrangements and construction, the miner said Monday.

General Moly's Mount Hope project is one of the world's largest stores of molybdenum, a mineral used in alloys. The company's calculations estimate the plot holds 1.3 billion pounds of proven reserves of the mineral, and give it a 44-year mine life with another 30 years of...
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