SSAB has signed a binding offtake agreement with Greenland Resources to secure long-term supply of low-carbon ferromolybdenum.
Under the agreement, SSAB will source ferromolybdenum extracted in Greenland and refined in Belgium, with pricing structured around an agreed floor and ceiling. The deal is aimed at ensuring stable access to responsibly sourced raw materials with low emissions.
The agreement supports SSAB’s strategy to secure sustainable supply chains for key alloying materials used in advanced steel production. The company produces around 8.8 mln tons of steel annually, with operations in Sweden, Finland and the United States.
Ferro molybdenum is a crucial alloying agent to enhance the mechanical and chemical properties of steel, particularly for advanced high-strength steel (AHSS), structural steels, and wear-resistant steels.
Greenland Resources is developing the Malmbjerg molybdenum project in eastern Greenland, which is expected to supply significant volumes to the European market once operational.
SSAB is a leading producer of advanced high-strength steel (AHSS) and quenched and tempered (Q&T) steel products, with an annual crude steel capacity of about 8.8 mln tons across its operations in Sweden, Finland, and the United States.
