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Belgrade
23/06/2024
Mining News

Solving the EU’s Molybdenum demand: Greenland Resources’ Malmbjerg project

Molybdenum stands as a pivotal metal in modern industry, particularly in steel and chemical manufacturing, integral to the emerging landscape of green energy technologies (World Bank, 2020; IEA, 2021). When incorporated into steel and cast iron, it fortifies these materials, enhancing their strength, weldability, corrosion resistance, and various other properties. According to data sourced from the International Molybdenum Association and the European Commission Steel Report, global molybdenum production reached approximately 576 million pounds in 2021. The European Union (EU), being the world’s second-largest steel producer, accounted for roughly 24% of this global supply, despite lacking domestic molybdenum production.

The EU’s reliance on molybdenum imports is particularly notable given the significance of its steel-dependent industries, such as automotive, construction, and engineering, which collectively contribute to around 18% of the EU’s impressive ≈ US$16 trillion GDP. Greenland Resources’ strategically positioned Malmbjerg molybdenum project emerges as a promising solution to this dependency, potentially supplying up to 25% of the EU’s molybdenum consumption sustainably and reliably for decades to come. Notably, the project is situated in an EU Associate country, aligning with the region’s standards of responsibility and environmental stewardship.

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The exceptional quality of the Malmbjerg ore further underscores its suitability for the EU’s high-performance steel industry, which is globally renowned for its leadership, particularly within Europe, including Scandinavian countries and Germany. With minimal impurities such as phosphorus, tin, antimony, and arsenic, the ore from Malmbjerg holds immense potential to meet the stringent requirements of these industries, paving the way for sustainable and environmentally friendly molybdenum production.

In summary, the Malmbjerg molybdenum project presents a compelling opportunity for the EU to secure a significant portion of its molybdenum needs domestically, reducing reliance on imports while bolstering key industries critical to economic growth and the green energy transition.

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