Reuters reported that Molybdenum producer Thompson Creek Metals fell to a loss in the Q2 hurt by a sharp YoY drop in price of molybdenum.

The company posted a net loss of USD 400,000 for the quarter ended June 30th 2009 as compared with a profit of USD 60.4 million a year earlier.

Thompson Creek's revenues declined by 70% to USD 73.8 million in the Q2 primarily due to a 71% decline in the average realized price for molybdenum.

Molybdenum production rose by 9.8% to 6.7 million pounds in the Q2 of 2009 from 6.1 million pounds in the Q1.

(Sourced from Reuter)