Insightful Trader Tips
  • Finances
  • World News
  • Investing
  • Stock
Investing

Almonty Pens Molybdenum Offtake Deal with SpaceX Contractor SeAH

by February 7, 2025
February 7, 2025

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
Cocaine is ‘no worse than whisky,’ Colombian president says
next post
New US Interior Secretary Moves to Expand Alaska Energy Development

Related Posts

Heliostar Drills 56.6 Metres Grading 2.88 g/t Oxide...

May 15, 2025

AMERICAN SALARS ADDS LITHIUM BRINE EXPERT DR. MARK...

May 15, 2025

SAGA Metals Appoints Vernon Shein, Former Exploration Manager...

May 15, 2025

EL2780 Award – New Targets from Airborne MT

May 15, 2025

Eric Nuttall: Oil vs. Natural Gas Stocks, Plus...

May 15, 2025

Juggernaut Further Increases Oversubscribed Financing to $10,329,735 Due...

May 15, 2025

Cygnus Metals to Present at the Precious Metals...

May 15, 2025

Heritage Intersects ~46 Metre Quartz-Sulfide Vein in second...

May 15, 2025

Skyharbour and JV Partner Orano to Commence Extensive...

May 15, 2025

Bitcoin Well Partners With Solo Satoshi To Bring...

May 15, 2025

Heliostar Drills 56.6 Metres Grading 2.88 g/t Oxide...

May 15, 2025

AMERICAN SALARS ADDS LITHIUM BRINE EXPERT DR. MARK...

May 15, 2025

SAGA Metals Appoints Vernon Shein, Former Exploration Manager...

May 15, 2025

EL2780 Award – New Targets from Airborne MT

May 15, 2025

Eric Nuttall: Oil vs. Natural Gas Stocks, Plus...

May 15, 2025

Juggernaut Further Increases Oversubscribed Financing to $10,329,735 Due...

May 15, 2025

Cygnus Metals to Present at the Precious Metals...

May 15, 2025

Heritage Intersects ~46 Metre Quartz-Sulfide Vein in second...

May 15, 2025

Skyharbour and JV Partner Orano to Commence Extensive...

May 15, 2025

Bitcoin Well Partners With Solo Satoshi To Bring...

May 15, 2025

Investing

  • Juggernaut Further Increases Oversubscribed Financing to $10,329,735 Due to Strong Demand from Institutions and Accredited Investors — Dr. Quinton Hennigh Technical Advisor

    May 15, 2025
  • Cygnus Metals to Present at the Precious Metals & Critical Minerals Hybrid Investor Conference on May 22nd

    May 15, 2025
  • Heritage Intersects ~46 Metre Quartz-Sulfide Vein in second Hole at Zone 3 Extension

    May 15, 2025
  • Skyharbour and JV Partner Orano to Commence Extensive Summer 2025 Drilling Program at Preston Uranium Project

    May 15, 2025
  • Bitcoin Well Partners With Solo Satoshi To Bring The Bitaxe To The Bitcoin Well Points Store

    May 15, 2025

Disclaimer: InsightfulTraderTips.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.

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


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

    • About us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InsightfulTraderTips.com All Rights Reserved.

    Insightful Trader Tips
    • Finances
    • World News
    • Investing
    • Stock
    Insightful Trader Tips
    • Finances
    • World News
    • Investing
    • Stock
    Copyright © 2025 InsightfulTraderTips.com All Rights Reserved.