Molybdenum Market Overview

Molybdenum is an essential metal primarily used to strengthen steel alloys, making them lighter and more corrosion-resistant. Its consumption has dramatically increased from 30 million pounds annually in the 1950s to 640 million pounds today, with a growth rate around 4-4.5% per year. Most molybdenum production comes as a byproduct from copper mines, leaving only a small percentage from primary molybdenum mines. The limited number of dedicated molybdenum projects worldwide, particularly with the looming depletion of some existing copper mines, positions primary producers like Moon River Mali to meet the rising demand.