Thompson Creek Metals (TCM-T, TC-N) has hatched a new plan to reduce costs at its namesake molybdenum mine in Idaho, in order to gain more financial wiggle room to continue developing its Mount Milligan copper-gold mine in central B.C. The revised plan for the Thompson Creek mine, announced before markets opened on Oct. 3, includes suspending stripping activities for the next stage of production, dubbed "phase eight." The company expects that the change from now to 2014 will save $100 million in operating costs, up to $9 million in capital expenditures and reduce its workforce by 100 employees.
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