Greenland Resources announced it has signed an off-take agreement with Finnish Outokumpu, the largest producer of stainless steel in Europe and the second largest producer in the Americas, for the long-term supply of molybdenum oxide, a critical raw material in Europe. The agreement provides an established price floor and covers approximately eight million pounds of molybdenum per year for a period of ten years representing around 25 percent of the first ten years of Greenland Resources production from its Malmbjerg project.
Bennett Jones is acting for Greenland Resources on the deal.
The Bennett Jones team is led by Simon Foxcroft (Mining) and includes Sander Grieve (Mining), Akash Purewal (Corporate), Artem Barsukov (International Arbitration) and Simon Grant (Finance).
Read the transaction press release.
Bennett Jones