Almonty and SeAH Secure Korean Molybdenum Offtake Agreement

Almonty and SeAH agree to Korean Mo offtake, securing long-term molybdenum supply from Sangdong project.
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SeAH

SeAH, a South Korean ferro-molybdenum producer, has committed to purchasing all molybdenum produced from Almonty's Sangdong Molybdenum Project. This agreement secures a key supply for the region.

Sangdong Project to Supply Long-Term Molybdenum

Almonty aims to produce 5,600 t/yr of molybdenum by late 2026 at its fully permitted Sangdong project. The mine's anticipated lifespan is 60 years. The offtake agreement includes a floor price of $19/lb, slightly below the current market price of $22/lb. Almonty recently announced plans to relocate its operational jurisdiction to the US, citing geopolitical factors and policy changes.

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