General Moly Snapshot
General Moly, reporting for molybdenum duty. The mineral development, exploration, and mining company (formerly Idaho General Mines) finds and exploits molybdenum oxide (moly), a mineral used primarily as an alloy in steel production. Steel makers create moly-enhanced pipes valued by the construction, aircraft manufacturing, and desalinization industries for their strength and resistance to heat and corrosion. Refiners use the pipes and employ the mineral to remove sulfur from diesel fuel and crude oil. General Moly owns two properties in Nevada, one in an 80/20 joint venture with Korean steel company POSCO and one outright. The company's move from development to production was pending in early 2011.