Sociedad Minera Cerro Verde SAA, (CVERDEC1.VL) said late Tuesday that it will temporarily suspend its molybdenum circuit, which produced three million pounds of molybdenum in 2008.

In a note sent to the Peruvian securities regulatory agency, Cerro Verde said that the suspension was due to "market conditions."

The mine, majority controlled by Freeport McMoRan Copper & Gold, (FCX) is located in southern Peru near the city of Arequipa.

Compania de Minas Buenaventura SAA (BVN) and a subsidiary of Sumitomo Corp. (8053.TO) also have equity stakes in the company.

-Robert Kozak, Dow Jones Newswires; 511-99927 7269; peru@dowjones.com

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