A timely reminder for all of us that thought oil companies were out of the mining business long ago comes from Chevron Mining. The Pittsburg & Midway Coal Mining Co (P&M) and Molycorp, both subsidiaries of Chevron Corp, recently announced the formation of a new diversified mining company called Chevron Mining. The company said the name change is designed to provide for a better alignment with its parent company and improve market visibility for its current mining operations and future growth opportunities.
Chevron Mining employs more than 1,400 people and operates five US coal and metal mines and is headquartered in Englewood, Colorado. “Bringing P&M and Molycorp together enables us to utilize their generations of experience to the benefit of our newly diversified mining operations,” said Mark A. Smith, President of Chevron Mining. “Together, we will be able to work more efficiently and reliably to maximize the value of our current facilities while looking for growth opportunities.
Founded in 1885, P&M is one of the oldest continuously operating mining companies in the USA. P&M operates two surface mines – McKinley, in New Mexico, and Kemmerer, in Wyoming, and an underground mine in North River, Alabama.
Molycorp produces molybdenum and rare earth minerals. Obtained as part of the Unocal acquisition in 2005, the company operates an underground molybdenum mine in Questa, New Mexico and an open-pit rare earth mine in Mountain Pass, California.
Chicago Carbon Company, also a wholly owned subsidiary of Chevron acquired in 2005, operates a 250,000-t/y petroleum coke calciner in Lemont, Illinois. The petroleum coke is used primarily in the aluminium manufacturing business.