Molybdenum 'Mo' is a refractory metal that offers enhanced...

Molybdenum 'Mo' is a refractory metal that offers enhanced strength, corrosion resistance, and mechanical stability at high temperatures and has a high melting point. As it is widely employed in the production of high-strength alloys and superalloys, the demand for molybdenum is increasing across the globe

.As the primary target mineralisation for this project has been amended from Cu to molybdenum, the outlook for that mineral is relevant:

• The global molybdenum market size reached 5,734.3 Tons in 2023.

• Looking forward, IMARC Group expects the market to reach 7,093.7 Tons by 2032, exhibiting a growth rate (CAGR) of 2.3% during 2024-2032.

• The growing demand for high-strength steel and superalloys, rising focus on renewable energy to reduce emissions in the environment, and increasing number of infrastructure and construction projects are some of the major factors propelling the market.

Mo is on the critical minerals list for India, Japan, and South Korea. (see Geoscience Australia) and is rated as having Moderate exploration potential in Australia.