OTHER NEWS - Nov. 27, 1991
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From Times Staff and Wire Reports
Unocal to Stop Molybdenum Mining: Molycorp Inc., a subsidiary of Unocal Corp., will suspend molybdenum mining and processing operations at Questa, N.M., in January, citing continued decline in the molybdenum market. Current spot prices are $2.10 to $2.15 per pound, down from $3.60 in 1989. The move will eliminate about 200 jobs. Meanwhile, Unocal subsidiary Union Oil Co. of California will buy the manufacturing and storage facilities of Chevron Corp.’s nitrogen fertilizer business.
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