Thompson Creek changes production guidance for 2009



    
    NYSE:   TC
    TSX: TCM, TCM.WT
    Frankfurt: A6R
    

    TORONTO, Jan. 27 /CNW/ - Thompson Creek Metals Company Inc. (the
"Company"), one of the world's largest publicly traded, pure molybdenum
producers, today announced that due to unfavorable market conditions and
reduced demand for molybdenum, the Company intends to reduce molybdenum
production in 2009 from levels that were previously planned.
    The Company is currently reviewing adjustments to production plans and at
this time anticipates total molybdenum production of 20 to 24 million pounds
in 2009, down from previous guidance of 31.5 to 34 million pounds.
    "In response to the downturn in worldwide economic activity, the Company
decided in December 2008 to reduce planned capital expenditures as part of an
initiative to conserve cash and we are now taking the added step of reducing
production levels," said Kevin Loughrey, Chairman and Chief Executive Officer.
    "We are currently planning a temporary shutdown for about a month this
summer in mining activity at both the Thompson Creek and Endako mines and
there will be other production changes about which we will provide details at
a later date after they are decided. The Company intends to remain flexible
and adjust production as needed in response to changing market conditions."

    About Thompson Creek Metals Company Inc.

    Thompson Creek Metals Company Inc. is one of the largest publicly traded,
pure molybdenum producers in the world. The Company owns the Thompson Creek
open-pit molybdenum mine and mill in Idaho, a metallurgical roasting facility
in Langeloth, Pennsylvania and a 75% share of the Endako open-pit mine, mill
and roasting facility in northern British Columbia. Thompson Creek is also
evaluating two high-grade underground molybdenum deposits, the Davidson
Deposit near Smithers, B.C., and the Mount Emmons Deposit near Crested Butte,
Colorado. The Company has approximately 800 employees. Its principal executive
office is in Denver, Colorado, and it has other executive offices in Toronto,
Ontario and Vancouver, British Columbia. More information is available at
www.thompsoncreekmetals.com.

    
    Cautionary Note Regarding Forward-Looking Statements
    ----------------------------------------------------
    
    This news release contains "forward-looking information" within the
meaning of the United States Private Securities Litigation Reform Act of 1995
and applicable Canadian securities legislation which may include, but is not
limited to, statements with respect to the timing and amount of estimated
future production. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or
"believes" or variations (including negative variations) of such words and
phrases, or state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved. Forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of Thompson
Creek and/or its subsidiaries to be materially different from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Such factors include those factors discussed in
the section entitled "Risk Factors" in Thompson Creek's current annual
information form which is available on SEDAR at www.sedar.com and is
incorporated in its Annual Report on Form 40-F filed with the United States
Securities and Exchange Commission which is available at www.sec.gov. Although
Thompson Creek has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions,
events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are made as of the date of this
news release and Thompson Creek does not undertake to update any such
forward-looking statements, except in accordance with applicable securities
laws. There can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers are cautioned not
to place undue reliance on forward-looking statements. Readers should refer to
Thompson Creek's current annual information form which is available on SEDAR
at www.sedar.com and is incorporated in its Annual Report on Form 40-F filed
with the SEC which is available at www.sec.gov and subsequent continuous
disclosure documents available at www.sedar.com and www.sec.gov for further
information on mineral reserves and mineral resources, which is subject to the
qualifications and notes set forth therein.





For further information:

For further information: Wayne Cheveldayoff, Director of Investor
Relations, Thompson Creek Metals Company Inc., Tel.: (416) 860-1438,
wcheveldayoff@tcrk.com; Dan Symons, Renmark Financial Communications Inc.,
Tel.: (514) 939-3989, dsymons@renmarkfinancial.com

Organization Profile

Thompson Creek Metals Company Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890