Greenland Resources inks molybdenum supply MoU with Germany’s Hempel
Toronto-listed Greenland Resources has signed a memorandum of understanding with Düsseldorf-based Hempel Metallurgical to supply molybdenum products to the German steel industry.
The agreement lays the foundation for a long-term supply of molybdenite concentrate and secondary products such as ferromolybdenum and molybdenum oxide. Material will be sourced from Greenland Resources’ Malmbjerg project in central east Greenland and roasted in Belgium before delivery to German customers.
Based on its National Instrument 43-101 feasibility study and previously announced offtake and roasting agreements, the company said it is positioned to become the largest supplier of molybdenum to Germany. Additional direct offtake agreements with German steelmakers are expected.
Germany consumed 16.3-million pounds of molybdenum in 2024, according to the International Molybdenum Association, making it the largest user of the metal in the EU. The EU is the world’s second-largest molybdenum consumer, with established roasting capacity but no domestic mine supply.
Greenland Resources highlighted that Malmbjerg’s primary molybdenum ore is suited to defence and high-performance steel applications owing to low deleterious elements and secure long-term supply. More than 80% of steels used in defence applications require molybdenum alloying. Germany, which plans to raise defence spending from 1.5% to about 5% of GDP, is expected to drive demand higher.
Currently, primary molybdenum supply is dominated by China at 87% and the US at 13%.
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