Molybdenum
Last modified: 27 September, 2007
Molybdenum is truly the metal of the 21st century.
Its unique properties, which enhance the strength and corrosion resistance of many steel products (particularly stainless steel), has seen rapidly growing consumption and a consequent price rise.
Molybdenum also plays an increasing role in the petroleum industry, from corrosion resistant pipelines to the catalysts used for the removal of sulphur and other impurities in crude oil. It also has an important role in industries as diverse as nuclear power, automotive and aerospace.
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With increasing pressure on supplies to feed a world market of some 400 million pounds of consumption per year, the price of molybdenum oxide (the compound which is generally quoted on world markets) has risen to around US$32 per pound from a price of US$5 per pound in 2003.
With current molybdenum metal resources at Yandera of some 200 million pounds, Marengo Mining can become a significant contributor to an exciting and growing market.