Thompson Creek Metals Company (TC)

Profile

Exchange: NYSE       Sector: Basic Materials       Industry: Industrial Metals & Minerals

Thompson Creek Metals Company is a pure play molybdenum mining company, one of the world's largest with two operating mines, five mines in the developmental stage and a central processing facility in Pennsylvania ). More recently it expressed interest in diversifying its business by adding other types of minerals to its asset base; on July 15, 2010 the company made a significant move into the non molybdenum mining market by agreeing to a US$623.5 million deal that would give it copper and gold exploration company Terrane Metals Corporation . Although the deal for Terrane Metals Corp was initially made in July it didn't receive final court approval in British Columbia until September 27; the deal was completed on October 27, 2010 . A third party has a ten year agreement with Thompson Creek to distribute and sell 20% of its products in Asia and Oceania effective January 2007. All operations are in the USA and Canada. The company operates through three segments: U.S. Operations Molybdenum, Canadian Operations Molybdenum and Copper-Gold. The company was formerly known as Blue Pearl Mining Ltd. and changed its name to Thompson Creek Metals Company Inc. in May 2007. Thompson Creek Metals Company Inc. was incorporated in 2000 and is based in Toronto, Canada.