The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

Investing

Almonty Pens Molybdenum Offtake Deal with SpaceX Contractor SeAH

by admin February 7, 2025
February 7, 2025
Almonty Pens Molybdenum Offtake Deal with SpaceX Contractor SeAH

Critical minerals company Almonty Industries (TSX:AII,ASX:AII,OTCQX:ALMTF) said on January 29 that it has entered into an exclusive offtake deal with South Korean molybdenum processor SeAH M&S.

Under the deal, SeAH will purchase 100 percent of the material produced from Almonty’s Sangdong molybdenum project for the asset’s entire life. Located in Korea, Sangdong is expected to start producing in 2026.

SeAH is South Korea’s largest processor of molybdenum products, as well as the second largest molybdenum oxide smelter in the world. The company is building a US$110 million metals and fabrication facility in Temple, Texas, that will provide fabricated metal products to SpaceX, the Elon Musk-led rocket and spacecraft company.

Sangdong is being developed by Almonty’s subsidiary, Almonty Korea Moly, with mining and environmental permits already in place. It is expected to produce about 5,600 metric tons of molybdenum annually over a 60 year life.

“This agreement underscores the strategic importance of (Almonty Korea Moly) and reflects strong confidence in Almonty’s ability to deliver high-quality resources,” said Almonty CEO Lewis Black in a press release.

Pricing is set at a minimum of US$19 per pound, based on the current molybdenum price of approximately US$22. Almonty said this level will ensure financial stability and a predictable revenue base as it advances Sangdong.

“The floor price provides a stable foundation and access to low-rate domestic construction lending as we advance our moly project, while keeping the material in South Korea strengthens local supply chains and supports domestic industry,’ noted Black. He added that it builds on the success of the company’s Sangdong tungsten project.

The Sangdong molybdenum project sits about 150 meters from the Sangdong tungsten project, which according to Almonty will allow enhance logistical efficiency, reduce costs and leverage shared infrastructure and expertise.

The company also emphasized that the offtake will benefit South Korea’s domestic supply chain.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
New US Interior Secretary Moves to Expand Alaska Energy Development
next post
How to Invest in Potash Stocks

Related Posts

Klimat X

January 16, 2024

Jeffrey Christian: Gold, Silver and “Another Year of...

March 13, 2024

Noble Minerals Initiates Temporarily Delayed Drill Program in...

July 4, 2024

INSG: Global Nickel Surplus to Hit 198,000 MT...

April 30, 2025

Gold Price Hits New Record, Breaking US$3,100 for...

April 1, 2025

Syntheia Announces Closing of Private Placement

June 18, 2025

Top 10 Graphite-producing Countries (Updated 2023)

November 15, 2023

Maria Smirnova: Gold, Silver Price Drivers Still in...

February 4, 2025

Top 5 Copper Stocks on the TSX in...

December 21, 2023

Adrian Day: Soft Landing Won’t Happen, Look to...

November 14, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,432)
    • Investing (3,523)
    • Politics (4,756)
    • World (4,659)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved