SynopsisOutokumpu, a global leader in sustainable stainless steel, has signed a letter of intent with Greenland Resources to secure a sustainable supply of molybdenum. This strategic partnership aims to enhance the future supply chain of low-emission, high-quality molybdenum, a critical raw material for stainless steel production. Greenland Resources is developing the Malmbjerg molybdenum project in east Greenland, recognized for its high-grade and environmentally friendly characteristics. The collaboration aligns with Outokumpu's commitment to green transition and product decarbonization.ArticleOutokumpu, renowned as a global leader in sustainable stainless steel production, is taking bold steps to secure a sustainable and low-emission supply of molybdenum. Molybdenum plays a pivotal role in enhancing the corrosion resistance of stainless steel, making it a critical component for Outokumpu's high-quality stainless steel grades.In line with its long-term strategy for value-chain integration, Outokumpu has inked a significant letter of intent with Greenland Resources, a Canadian mining company at the forefront of developing the Malmbjerg molybdenum project in east Greenland. This collaboration signifies Outokumpu's commitment to supporting Greenland Resources as an interested future customer.Greenland Resources' Malmbjerg molybdenum project stands out as one of the highest grade molybdenum deposits globally. What sets it apart is its minimal presence of deleterious elements and adherence to high Environmental, Social, and Governance standards, a noteworthy attribute for sustainable resource extraction. Moreover, the project has received backing from the European Institute of Innovation and Technology RawMaterials and the European Raw Material Alliance, indicating its alignment with European sustainability goals.The Malmbjerg molybdenum project carries a low environmental footprint, thanks to modularized infrastructure, minimal CO2 emissions, limited aquatic disturbance, and the adoption of clean contained tailings practices. A remarkable innovation is the gravity-based aerial rope conveyor, used for transporting 35,000 tonnes of ore per day, which consumes no energy, produces no carbon emissions, and generates electricity from braking.Marc-Simon Schaar, Chief Procurement Officer at Outokumpu, underscores the company's commitment to reducing supply chain emissions and accessing sustainable molybdenum suppliers like Greenland Resources. The collaboration aims to ensure a stable supply of molybdenum, shielded from volatile market pricing and supply fluctuations.Greenland Resources Chairman Dr. Ruben Shiffman emphasizes the project's commitment to ESG standards, circularity within the EU, and the utilization of high-quality molybdenum in Outokumpu's steel production.ConclusionOutokumpu's partnership with Greenland Resources marks a significant stride toward sustainable molybdenum sourcing, aligning with the company's vision of reducing its carbon footprint and advancing environmentally responsible metallurgical practices.
SynopsisOutokumpu, a global leader in sustainable stainless steel, has signed a letter of intent with Greenland Resources to secure a sustainable supply of molybdenum. This strategic partnership aims to enhance the future supply chain of low-emission, high-quality molybdenum, a critical raw material for stainless steel production. Greenland Resources is developing the Malmbjerg molybdenum project in east Greenland, recognized for its high-grade and environmentally friendly characteristics. The collaboration aligns with Outokumpu's commitment to green transition and product decarbonization.ArticleOutokumpu, renowned as a global leader in sustainable stainless steel production, is taking bold steps to secure a sustainable and low-emission supply of molybdenum. Molybdenum plays a pivotal role in enhancing the corrosion resistance of stainless steel, making it a critical component for Outokumpu's high-quality stainless steel grades.In line with its long-term strategy for value-chain integration, Outokumpu has inked a significant letter of intent with Greenland Resources, a Canadian mining company at the forefront of developing the Malmbjerg molybdenum project in east Greenland. This collaboration signifies Outokumpu's commitment to supporting Greenland Resources as an interested future customer.Greenland Resources' Malmbjerg molybdenum project stands out as one of the highest grade molybdenum deposits globally. What sets it apart is its minimal presence of deleterious elements and adherence to high Environmental, Social, and Governance standards, a noteworthy attribute for sustainable resource extraction. Moreover, the project has received backing from the European Institute of Innovation and Technology RawMaterials and the European Raw Material Alliance, indicating its alignment with European sustainability goals.The Malmbjerg molybdenum project carries a low environmental footprint, thanks to modularized infrastructure, minimal CO2 emissions, limited aquatic disturbance, and the adoption of clean contained tailings practices. A remarkable innovation is the gravity-based aerial rope conveyor, used for transporting 35,000 tonnes of ore per day, which consumes no energy, produces no carbon emissions, and generates electricity from braking.Marc-Simon Schaar, Chief Procurement Officer at Outokumpu, underscores the company's commitment to reducing supply chain emissions and accessing sustainable molybdenum suppliers like Greenland Resources. The collaboration aims to ensure a stable supply of molybdenum, shielded from volatile market pricing and supply fluctuations.Greenland Resources Chairman Dr. Ruben Shiffman emphasizes the project's commitment to ESG standards, circularity within the EU, and the utilization of high-quality molybdenum in Outokumpu's steel production.ConclusionOutokumpu's partnership with Greenland Resources marks a significant stride toward sustainable molybdenum sourcing, aligning with the company's vision of reducing its carbon footprint and advancing environmentally responsible metallurgical practices.
