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<br />1. INTRODUCTION <br />• <br />The Henderson Project is operated by AMAX Inc. It is the <br />largest privately financed project in the history of Colorado. <br />Production began in mid-1976 after ten years of development and an <br />initial expenditure of approximately $500 million. Its purpose is the <br />mining of molybdenite ore and production of molybdenum disulfide <br />concentrate for shipment to conversion plants throughout the world. <br />The Henderson Mine is capable of producing 50 million pounds <br />of molybdenum each year with approximately 30 years of proven and <br />probable reserves. The project presently employs 1,154 workers at the <br />mine and 226 people at the mill on an around-the-clock, eight-hour <br />shift schedule. <br />The product of the Henderson Mine is necessary to meet the <br />present free-world demand for molybdenum Although not generally <br />aware of it, nearly ever;rone uses molybdenum. Its uses are many and <br />varied, but its main use is an alloying element added in small amounts <br />to steels, irons and nonferrous alloys where the metal makes a unique <br />contribution to het strength, corrosion resistance and toughness. <br /> <br />1-1 <br />