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Greenland Resources strengthens molybdenum supply chain in LOI with Outokumpu.

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NORDIC BUSINESS REPORT-October 6, 2023-Greenland Resources strengthens molybdenum supply chain in LOI with Outokumpu

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Canada-based molybdenum mining company Greenland Resources Inc (NEO:MOLY) (FSE:M0LY) has signed a Letter of Intent (LOI) with Finnish stainless steel producer Outokumpu (HEL:OUT1V) for the supply of a significant amount of molybdenum, the two companies announced on Friday.

This agreement concerns the supply of molybdenum oxide and carbon-free briquettes from Greenland Resources' Malmbjerg molybdenum project in central east Greenland.

Outokumpu is a major stainless steel producer and one of the largest global consumers of molybdenum, a critical and strategically important raw material for stainless steel production. The company has been exploring opportunities to secure sustainable molybdenum supplies from Western suppliers, as a part of its long-term strategy for value-chain integration.

The Malmbjerg open-pit...

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