On February 24, 2025, Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) signed a 10-year off-take agreement with Outokumpu, Europe’s largest stainless steel producer, for the supply of eight million pounds of molybdenum oxide per year. The deal includes a price floor and cap and covers 25% of Greenland’s first decade of production.

The agreement, subject to customary conditions, strengthens Greenland’s supply chain and helps secure capex financing, with Outokumpu providing support. Outokumpu sees the deal as a key step in securing low-emission molybdenum and reducing Scope 3 emissions.

Bennett Jones advised Greenland Resources, while Borenius Attorneys Ltd. represented Outokumpu.