Molybdenum Mine

Molybdenum: A High-Performance Alloying Element

Molybdenum is a critical metal used to enhance strength, corrosion resistance, and heat resistance in steel, cast iron, and superalloys. As an alloying agent, even small amounts of molybdenum significantly improve material performance.

This metal never occurs in pure form. Instead, it combines with elements like sulfur and oxygen and exists in about 13 minerals. Molybdenite is the primary mineral source.

The steel industry drives molybdenum demand, linking it to global construction and automotive markets. Without it, building steel structures like skyscrapers or bridges would cost more and weigh much more.

Due to climate change, governments are expanding clean energy infrastructure. As a result, demand for molybdenum in large-scale projects is steadily rising.


Global Molybdenum Reserves and Production Trends

According to the USGS 2025 report, global molybdenum reserves stand at 15 million tons. The top five countries are:

- China: 5.9 million tons

- United States: 3.5 million tons

- Peru: 1.9 million tons

- Chile: 1.4 million tons

- Russia: 1.1 million tons

In 2024, global production reached approximately 260,000 tons, up 5% from 2023. China leads with 110,000 tons, followed by Peru (41,000), Chile (38,000), and the United States (33,000).

While the U.S. and Chile posted slight declines, China and Peru increased output. This shift suggests traditional producers may lose dominance, while new players rise.

The U.S. exports 45,000 tons of molybdenum concentrate each year. Additionally, exports of processed products—like oxides, ferromolybdenum, and powders—reached 5,500 tons, indicating stronger value-added production capabilities.


South Korea’s Opportunity for Import Diversification

South Korea relies on Chile, Mexico, and China for most of its molybdenum. However, U.S. molybdenum presents a stable, alternative source.

The U.S. has dedicated molybdenum mines and is boosting exports of processed materials. This gives Korea access to both raw ore and high-purity intermediate products.

Global copper mine closures after 2030 could disrupt molybdenum supply. Also, heavy reliance on raw ore increases vulnerability. To mitigate these risks, Korea should include U.S.-processed molybdenum in its supply chain strategy.

According to Dong-A Special Metals, strategic partnerships with U.S. producers can strengthen Korea’s access to critical materials and reduce future uncertainties.




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