Greenland Resources Signs MOU With German Dillinger for Molybdenum Supply

Executive Summary

• Greenland Resources signed a memorandum of understanding with ROGESA Roheisen‑und Rohstoffgesellschaft Saar mbH (joint venture of Dillinger and Saarstahl) to establish a long‑term supply chain for ferro‑molybdenum, molybdenum‑oxide and briquettes sourced from the Malmbjerg project.
• The agreement positions Greenland Resources as a strategic source of primary molybdenum for the EU, potentially covering ~25 % of EU annual demand and 100 % of EU defence‑related molybdenum needs.
• The MOU underscores the EU’s critical mineral strategy and could lead to a definitive offtake contract, enhancing the project’s commercial upside and supporting Greenland Resources’ financing and development timeline.

Key Details

• Parties: Greenland Resources Inc.; ROGESA Roheisen‑und Rohstoffgesellschaft Saar mbH (joint subsidiary of Dillinger AG and Saarstahl AG).
• Scope: Long‑term supply of ferro‑molybdenum, molybdenum‑oxide and briquettes produced from molybdenum ore extracted at the Malmbjerg project in Greenland and refined in Belgium.
• Strategic Rationale: Provides Dillinger and Saarstahl with a stable, responsibly sourced molybdenum supply meeting EU sustainability standards (low Scope 1&2 emissions).
• EU Market Context:
• EU is the world’s second‑largest molybdenum consumer (~122 M lb/yr, ~19 % of global demand).
• Germany is the largest EU user; molybdenum classified as “Category 3” critical mineral on Germany’s Criticality List.
• Over 80 % of metallic materials for defence applications require molybdenum alloying.
• Project Metrics (Malmbjerg):
• Proven & Probable Reserves: 245 Mt @ 0.176 % MoS₂ → 571 M lb contained Mo.
• Average annual production (years 1‑10): 32.8 M lb Mo per year (≈25 % of EU total consumption, 100 % of EU defence needs).
• Capex: US$820 M; Levered after‑tax IRR 33.8 %; Payback 2.4 years (based on $18/lb Mo price).
• By‑product Potential: Magnesium and rare‑earth elements present in the concentrate; Company exploring extraction from saline water used in processing.
• Regulatory Status: Exploitation licence awarded 19 Jun 2025 for molybdenum and magnesium. Project supported by European Raw Materials Alliance (ERMA).
• Forward‑Looking Statements: The MOU is non‑binding; definitive offtake agreement subject to due diligence, permitting, financing and market conditions.

Notable Quotes

(No direct quotes were included in the release.)