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2025-05-14 14:00:00
Raw Materials Summit 2025: Greenland Malmbjerg mining project – Securing high-quality, long term molybdenum and magnesium supply for the EU Green Deal from Greenland
Greenland Resources Inc. is a Canadian mining company that owns the Malmbjerg Project, a world-class Climax-type molybdenum mineral deposit with by-product magnesium, located in East-Central Greenland. The project has a highly economic NI 43-101 bankable feasibility study and aims to begin its 20-year mine life producing molybdenum and magnesium before the end of the decade.The Malmbjerg Project has the potential to supply approximately 25% of the EU’s total molybdenum demand and nearly all of its defence-related needs. The EU, the second-largest molybdenum consumer globally, currently has no domestic supply. Meanwhile, China produces 89% of the world’s magnesium, with Europe sourcing 97% of its magnesium from China.In 2024, the project applied for an exploitation license and expects permitting for both molybdenum and magnesium soon. The project features an environmentally friendly mine design, with significantly lower operating costs and Scope 1 and 2 emissions compared to its peers.Greenland Resources has received high-quality expressions of interest for approximately US$700 million in debt financing (covering 70% of capex) from AAA/AA-rated lenders, including US$275 million from the Government of Canada and institutions such as EKN, FINNVERA, EIFO, EDC, and DB. It has also signed a tolling agreement with a major European roaster.Furthermore, the company has secured binding and non-binding offtake agreements with leading EU metallurgical, steel, and chemical companies for the majority of its production. This includes a 10-year, US$1.6 billion binding take-or-pay offtake agreement with Finland’s Outokumpu, the largest stainless steel producer in Europe.For more information on the Malmbjerg projects, visit http://www.greenlandresources.ca
Rue Bara straat 1751070, Brussels, Belgium, The Egg Conference Centre, Press Room
RAW MATERIALS
https://eitrmsummit.com/raw-materials-summit-2025/greenland-malmbjerg-mining-project-securing-high-quality-long-term
Europe/Brussels
public
Greenland Malmbjerg mining project – Securing high-quality, long term molybdenum and magnesium supply for the EU Green Deal from Greenland
