Chinese government money is buying one of U.S.A.’s biggest mines

12-07-10 • The PPJ Gazette

It seems like there’s not much hope for Mt. Hope in Nevada. A brave group of American farmers and ranchers (and so far, Eureka County, NV) are all that is standing between our valuable American resources and water rights, and a Chinese company that has taken a $745 million loan from a bank fully owned by the Chinese Government. Mt. Hope is about 23 miles northwest of Eureka, NV, and contains the world’s largest and highest grade undeveloped molybdenum project, the Mt. Hope Project. What is molybdenum? It has the 6th highest melting point of any element, and is used in nuclear reactors, high temperature superalloys, aircraft parts, electrical components, high strength steel alloys, high pressure and high temperature applications, medical applications, gas and oil pipelines to prevent leaks, and as a catalyst in oil refining. It is also a catalyst in liquefaction (helping refiners meet EPA and EEU pollution emission standards) and co-processing, the process of liquefaction of