png miner eyeing moly sales to china

Hi folks,

The following article was just published on the net. Don't really know what to think of it or how reliable it is:


Papua New Guinea miner eying moly sales to China

Reuters cited Mr Les Emery MD of Marengo as saying that Marengo Mining plans to sell 1,500 tonnes of molybdenum to China Nonferrous Metals after striking a funding deal to develop a mine in Papua New Guinea.

China is the world's largest producer of steel making metal molybdenum accounting for about 35% of a market estimated at more than 425 million lbs.

(Sourced from Reuters)

Link to Article


To the best of my knowledge, the figure of 1,500 tonnes was not mentioned in the MOU announcement - or any other announcement for that matter.

If the article is accurate, we could presume talks may be a little more advanced than initially thought.


A good weekend to all.