Wall Street Wizardry
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Wall Street Wizardry

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

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

Related Posts

Nuvau Minerals’ 2023 Sonic Drilling Program Yields Regionally...

March 5, 2025

Bird Flu Vaccine Stocks: 8 Companies Developing H5N1...

March 13, 2025

Ignite Investment Summit Hong Kong Presentation

March 27, 2025

The Trader’s Flashlight in a Market Fog: What...

April 15, 2025

Funding the Energy Transition: The Role of Public...

March 25, 2025

Letter from the CEO: Unlocking the True Value...

March 27, 2025

Agnico Eagle Secures Majority Stake in O3 Mining,...

January 28, 2025

Top 5 Canadian Mining Stocks This Week: BCM...

March 22, 2025

StrategX Announces Executive Change

April 2, 2025

Yvonne Blaszczyk: Gold to Keep Rising as Global...

February 28, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


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

    Editors’ Picks

    • 1

      Financial Agreement signed releasing $2M grant

      January 23, 2025
    • 2

      US security contractor will take charge of key checkpoint in Gaza as Israeli forces withdraw

      January 25, 2025
    • 3

      Trump re-designates Iranian-backed Houthis as terrorists: ‘Threaten[s] security of American civilians’

      January 23, 2025
    • 4

      Cyclopharm Signs US Agreement with HCA Healthcare for Technegas®

      January 23, 2025
    • 5

      Netflix shares soar as company reports surging revenue, tops 300 million subscribers

      January 23, 2025
    • 6

      FDA officially authorizes Zyn nicotine pouches for sale following health review

      January 23, 2025
    • 7

      Universal’s ‘Wicked: For Good’ creates a unique marketing challenge

      January 26, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: wallstreetwizardry.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 © 2025 wallstreetwizardry.com | All Rights Reserved