ABSTRACT
This chapter reviews a study for the Pine Grove molybdenum deposit in southwestern Utah. The Wah Wah mountains near Pine Grove are a northeasterly plunging syncline involving bedded rocks primarily composed of quartzite, limestone, dolomites, and shales. Wasting no time, in January 1978 Getty's mineral staff settled an agreement with Phelps Dodge establishing a joint-venture arrangement on the Pine Grove property with Getty as the operator. Water - Approval was obtained to appropriate 21 cubic feet per second of subsurface water from Pine Valley west of the deposit. Pine Grove Associates' approach was to be as straightforward and open as possible and to participate actively in the community. In 1983, with the molybdenum price continuing to drop, the Pine Grove Project was stopped and the Milford office closed. Most mine-development projects, like Pine Grove Molybdenum, incur the following risks: low probability of making a discovery; heavy capital investment; long payback periods; external costs; and volatile prices.
