Idaho General purchases Nye molybdenum interest

Idaho General Mines, a Spokane company, said last week it acquired the remaining 12 percent interest in a molybdenum and copper property in Nye County.

The company said it paid $4.8 million in cash, plus another $6 million if the property starts production, to purchase Equatorial Mining North America Inc. Equatorial owned the 12 percent interest in the Hall property, which was operated as an open-pit mine from 1982 to 1991.