Moly-Cop eyes expansion to Dallas plant
If you’ve never heard of Moly-Cop Canada or have no idea what the Kamloops company does, you probably wouldn’t be alone.
The company converts steel products into balls used exclusively in the mining industry.
With several new mine operations expected to open within the next few years, including New Gold’s New Afton mine next year near Kamloops, Moly-Cop is eyeing an expansion.
Maurice Hindle, sales manager for Moly-Cop Canada, told KTW if the metals market stays strong, the company will expand its operation in the Tournament Capital next year.
Though he couldn’t provide specific details, he noted Moly-Cop has a lease option to purchase a piece of property right next door to its Dallas operation, which would double its size.
The operation has a 100,000-ton capacity, but could produce 200,000 tons by the time expansion is complete.
The company started 25 years ago, with a capacity to produce 40,000 tons of material.
Hindle noted the expansion is being buoyed by the number of possible mining operations in B.C. that could start within a few years.
“All of these contribute to this forecast that we feel that demand is going to increase and the only way we can participate is to have capacity available,” he said.
Hindle cautioned expansion will depend on the market.
“If the market dropped off the edge and we hadn’t started construction, we would say ‘let’s hold it until the market recovers,’” he said.
Moly-Cop employs 56 people.
However, Hindle said it would be premature to say just how many new employees would be needed if the expansion goes ahead.
He said the company would probably only need to hire a few new employees to handle the extra capacity.
The company said it doesn’t intend to make a big announcement, but it will make the industry aware of its expansion plans.