Greenland Resources Inc. (NEO:MOLY, FSE:M0LY) (“Greenland Resources” or the “Company”) is pleased to announce that on the twenty year anniversary of Molymet Belgium and in the presence of Belgium Prime Minister Mr. Alexander De Croo and Mr. John Graell, CEO Molymet, the Company has signed a memorandum of understanding with binding terms (“MOU/Terms”) for long term sales and toll conversion of molybdenum concentrate with Molibdenos y Metales S.A (“Molymet”). Molymet is an international investment grade rated company with the world’s largest molybdenum processing capacity and sales with production facilities in Germany, Belgium, Mexico and Chile and sales offices in nine different countries. A communique from Molymet Belgium can also be found on: Click Here
The MOU / Terms set the path for the sales and tolling conversion of a significant part of the long-term production of the Malmbjerg Molybdenum Project concentrate, and contains both binding and non-binding clauses as well as detailed pro-forma terms and conditions. This MOU / Terms will give the Company the option to both sell its molybdenite concentrate to Molymet, and also to toll process only, and sell secondary products like ferromolybdenum, molybdenum oxide and ammonium dimolybdate directly to various steel and chemical companies. The Company has seen strong interest from large EU investment grade metallurgical steel and chemical companies to source molybdenum from Greenland, and has already signed documentation with many of them. As an example, see the Company’s January 19, 2023 press release https://greenlandresources.ca/data/news/PR-23-04-Greenland-Resources-Jan-19-2023.pdf
The Company thanks Molymet, the Prime Minister and EIT RawMaterials / ERMA who was also was represented at the event. The event had coverage in various national newspapers and photos can be found in Greenland Resources website gallery.
About Molymet
Molymet is an international Chilean headquartered company with the largest molybdenum and rhenium processing capacity in the world. Having production facilities and sales offices in nine different countries allows Molymet to offer services and products on every continent. The company adheres to high environmental standards, supported by its environmental management system with ISO 14001, 45001 and 9001 certifications.
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