Greenland Resources signs eight-year molybdenum offtake agreement with SSAB
TSX-listed Greenland Resources has signed a binding offtake agreement with SSAB, a Nordic and US-based steel producer headquartered in Sweden.
SSAB supplies high-strength steels to the defence, automotive, infrastructure and energy industries globally.
Greenland Resources explains that the offtake agreement provides an established price floor and price ceiling and will allow SSAB to secure high-quality, low-carbon-emission ferromolybdenum extracted in Greenland and refined in Belgium.
The company adds that SSAB will be able to ensure a stable and responsibly sourced long-term secured primary molybdenum supply with high sustainability standards and low Scope 1 and 2 emissions from an EU associate country.
SSAB has a steel production capacity of 8.8-million tonnes a year, with production facilities in Sweden, Finland and in the US where it is the country’s largest heavy plate producer.
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