General Moly is owned by Hanlong USA Mining, a subsidiary of Sichuan Hanlong Group, a Chinese “private enterprise.” Sichuan Hanlong Group recently received a $1.5 billion loan from the Export-Import Bank of China (China Eximbank) to support its investments in overseas mining opportunities, with $745 million towards General Moly. The Export-Import Bank of China is fully owned by the Chinese government and under the leadership of the State Council. It’s a “government policy bank.” Hanlong mining’s website states “China is on a long term growth path to becoming the world’s largest economy” and that Hanlong is “undergoing a period of rapid international expansion.”
... General Moly (Idaho General Mines, Inc. in 2004) owns 80% of Mt. Hope Project, and the other 20% is owned by POSCO (Pohang Iron and Steel Company) of Pohang, South Korea.
... the Mt. Hope Project will need 7,000 gallons of water per minute (gpm) for the life of the mine (40-50 years) and will draw 11,300 acre feet annually (afa) from the aquifer. The project layout shows that one waste dump will hold 650 million tons, the tailings facility will hold 435 million tons, another waste dump will hold 125 million tons, and the Ultimate Pit, the open pit, will have 669 million tons of “resource” dug out of it, and will take 1,220 years to reach equilibrium. In 44-50 years when General Moly finishes mining, and this pit fills with water, for every gallon that evaporates out of it, a gallon of water will be drawn from the aquifer beneath it.
... Dwight Smith, owner of Interflow Hydrology, Inc. while testifying on behalf of his client, General Moly, referred to the BLM [US Bureau of Land Management] as a “stakeholder.” What is BLM’s stake?
... A General Moly presentation claims the BLM has agreed not to protest General Moly’s water rights,
... General Moly also wants to buy up the water rights of farmers and ranchers.