Owner Climax Molybdenum Co. recognized the potential for deeper orebodies in the area, and discovered the Henderson deposit in 1964.
In 2006, remaining ore reserves were estimated to be 500 million pounds of recoverable molybdenum.
The ore is treated by froth flotation to obtain molybdenite concentrate, which is shipped to a plant in Fort Madison, Iowa for further processing.
A typical train of 20 to 25 cars required 3 locomotives, two pulling and one pushing up the long 3-percent grade in the haulage tunnel.
The new working level of the mine, 400 feet (122 m) below the rail level, required a conveyor to lift the ore to the haulage tunnel, and it was eventually decided to extend this conveyor the full distance to the mill.
[4][5] The Henderson mine is located at 39°46′13″N 105°50′00″W / 39.77028°N 105.83333°W / 39.77028; -105.83333 at an elevation of about 10,300 feet, about 1.6 miles east of the Continental Divide.