# Molybdenum: Extraction

Why copper mines are molybdenum's biggest source

Source page: https://www.materialinsights.org/commodities/molybdenum/extraction/

Why copper mines are molybdenum's biggest source What this tab covers How it is mined, drilled or grown, and processed into a tradeable form: the main methods compared, their unit economics, by-products, and the companies that do this work globally and in India.

Molybdenum occurs as the sulfide molybdenite in large, low-grade porphyry deposits. Some are primary molybdenum mines, such as the two operating in Colorado. More often it is a by-product of porphyry copper mines in Chile, Peru, the US and Mexico. Flotation separates molybdenite from the copper concentrate, and roasting turns it into molybdic oxide. Only China and the US mine it both ways (USGS). Roughly half of world supply comes as a by-product of copper. Rising demand has led copper miners to upgrade plants to recover more molybdenite.

Molybdenum occurs mainly as molybdenite in large, low-grade porphyry deposits. Some are mined for molybdenum itself, notably in China and in Colorado. Most of the rest comes as a by-product of copper porphyry mines in Chile, Peru, Mexico and the US, where molybdenite is separated from copper concentrate. Only China and the US produce from both primary and by-product mines; other countries rely on copper mines (USGS). Concentrate is then roasted to molybdic oxide and converted to ferromolybdenum or chemicals. Because about half of supply depends on copper mining, molybdenum output responds to copper economics as much as to its own price.

#### Methods compared

| Method | Share of supply | Typical scale | Recovery / efficiency | By-products | Unit cost |
|---|---|---|---|---|---|
| **By-product recovery at copper porphyry mines** | About 55% of primary supply is linked to copper (companionality); historically 47-75% between 1985 and 2013 (Nassar et al. 2015) | Chile 42,000 t and Peru 39,000 t in 2025, all by-product (USGS); Antofagasta 2.9 kt in Q3 2026 (Kadoa, company reports) | n/a | Molybdenum is itself the by-product; rhenium is recovered from molybdenite roasting | Costs are mostly carried by copper; only the separation circuit and roasting are charged to molybdenum. No sourced cost figure. |
| **Primary molybdenum mines (open pit and underground)** | China (97,000 t in 2025) and the US (40,000 t, two primary mines plus seven by-product mines) produce from primary mines (USGS) | CMOC produced 13,906 t Mo in 2025, largely from primary mines in Henan (company report, via Critical Minerals News) | n/a | tungsten at some Chinese mines (CMOC also produced 1,993 t W in Q1 2025) | n/a |
| **Roasting and conversion to oxide, ferromolybdenum and chemicals** | Nearly all mined molybdenum passes through roasting | US molybdic oxide price averaged $51/kg Mo in 2025 (USGS, Argus) | n/a | sulphuric acid, rhenium | n/a |
| **Recycling of steel, superalloy and catalyst scrap** | May be as much as 30% of US apparent supply (USGS); EU end-of-life recycling input rate 30% (EU CRM 2023) | n/a | n/a | nickel, cobalt, vanadium from catalysts | n/a |

#### How each method works
**By-product recovery at copper porphyry mines**

After grinding and bulk flotation of copper-molybdenum minerals, a separation circuit depresses copper sulphides and floats molybdenite, giving a molybdenum concentrate. Rising molybdenum use has led many copper miners to upgrade plants to recover more molybdenite from existing ore (USGS).

Low incremental cost; output cannot rise beyond the molybdenum in the copper ore mined (Tilton and Guzman).
 USGS MCS 2026; Nassar, Graedel and Harper (2015); Tilton and Guzman (2016) **Primary molybdenum mines (open pit and underground)**

Large low-grade deposits are mined for molybdenum alone, by open pit in China or underground as at Henderson in Colorado. Ore is ground and floated directly to molybdenite concentrate.

Can respond to molybdenum prices; higher cost because molybdenum carries all mining costs.
 USGS MCS 2026; CMOC Q1 2025 production announcement (HKEX); Critical Minerals News (25 Jun 2026) **Roasting and conversion to oxide, ferromolybdenum and chemicals**

Molybdenite concentrate is roasted in multiple-hearth furnaces to technical oxide, releasing sulphur dioxide that is captured as acid and rhenium that is recovered. Oxide is reduced with ferrosilicon and aluminium to make ferromolybdenum, or dissolved to make high-purity chemicals and metal powder.

Few roasters outside China, Chile and the US; Chilean roasters import concentrate (Chile took 10.7% of world imports in 2024, UN Comtrade).
 USGS MCS 2026; UN Comtrade 2024 **Recycling of steel, superalloy and catalyst scrap**

Molybdenum is not usually extracted from alloy scrap; it is reused by remelting the scrap into new steel. Spent refinery catalysts are processed to recover molybdenum, vanadium and nickel.

Large and steady; tied to steel scrap flows.
 USGS MCS 2026; EU CRM study 2023 Unit economics are indicative ranges from the sources named; costs vary widely by deposit, region and year.

#### By-product supply

About 55% of mined molybdenum comes from copper ores, and the share has ranged from 47% to 75% since 1985 (Nassar et al. 2015). Outside China and the US, all molybdenum is a copper by-product (USGS 2026). By-product output is capped by the molybdenum contained in the copper ore mined, so near that cap supply barely responds to molybdenum prices, while copper price swings can move molybdenum supply up or down regardless of molybdenum demand (Tilton and Guzman).

#### Share produced as a by-product
 About 50% of primary supply comes as a by-product of copper (Nassar, Graedel & Harper 2015, approximate).

#### Who does it: global

| Company | Country | Activity | Volume | Year | Source |
|---|---|---|---|---|---|
| **CMOC Group** | China | primary molybdenum mining (Henan), also copper, cobalt, tungsten, niobium | 13,906 t Mo | 2025 | [CMOC 2025 results, reported by Critical Minerals News (25 Jun 2026)](https://critical-minerals-news.com/top-10-molybdenum-producing-companies/) |
| **Freeport-McMoRan** 2025 volume not found in sources consulted. Largest producer in 2013 with 17.4% of world output (Tilton and Guzman). | US | primary mines (Climax, Henderson) and by-product from Arizona and Peru copper mines | not published | 2025 | Tilton and Guzman (2016) |
| **Codelco** 2025 volume not found in sources consulted. Held 8.5% of world output in 2013. | Chile | by-product from copper mines | not published | 2025 | Tilton and Guzman (2016) |
| **Grupo Mexico (Southern Copper)** 2025 volume not found in sources consulted. Held 7.4% of world output in 2013. | Mexico / Peru | by-product from copper mines | not published | 2025 | Tilton and Guzman (2016) |
| **Antofagasta** | Chile | by-product from Los Pelambres and Centinela | 2.9 kt Mo (quarterly) | Q3 2026 | [Company quarterly report, via Kadoa](https://www.kadoa.com/mining/commodity/molybdenum) |
| **MMG** | China / Peru | by-product from Las Bambas | 1.1 kt Mo (quarterly) | Q3 2026 | [Company quarterly report, via Kadoa](https://www.kadoa.com/mining/commodity/molybdenum) |

#### Who does it: India

India has no molybdenum mine output in USGS or World Mining Data tables and imports ferromolybdenum and oxide for its steel industry; molybdenum is on India's 2023 critical minerals list. No Indian producer volumes were found.

## Other sections

- [Summary](https://www.materialinsights.org/commodities/molybdenum/index.md)
- [Overview](https://www.materialinsights.org/commodities/molybdenum/overview/index.md)
- [Correlation](https://www.materialinsights.org/commodities/molybdenum/correlation/index.md)
- [Production](https://www.materialinsights.org/commodities/molybdenum/production/index.md)
- [Stocks](https://www.materialinsights.org/commodities/molybdenum/stocks/index.md)
- [Cycles](https://www.materialinsights.org/commodities/molybdenum/cycles/index.md)
- [Trading](https://www.materialinsights.org/commodities/molybdenum/trading/index.md)
- [Movement](https://www.materialinsights.org/commodities/molybdenum/movement/index.md)
- [Criticality](https://www.materialinsights.org/commodities/molybdenum/criticality/index.md)
- [Characteristics](https://www.materialinsights.org/commodities/molybdenum/characteristics/index.md)
- [Emissions](https://www.materialinsights.org/commodities/molybdenum/emissions/index.md)
- [Relationships](https://www.materialinsights.org/commodities/molybdenum/links/index.md)