Molten Metals Corp. Signs Non-Binding Offtake MOU with Scandinavian Steel AB

22 February 2023

MOLTEN METALS CORP., is very pleased to announce that the Company has  executed a non-binding arm’s length Memorandum of Understanding (“MOU”) for a long-term Antimony supply with Swedish company Scandinavian Steel AB. The deal was executed on 16th February, and envisages a long-term partnership.

The price of the material  is defined as specific payables on the Antimony Regulus grade II min 99.65% Sb du Rotterdam price based on the presentation of an International Laboratory Certificate.

While currently the Offtake Agreement is considered Non-binding, there is the provision and understanding that Scandinavian Steel has the full intention to upgrade this Agreement to a binding

Offtake Agreement within a reasonable time frame and is subject to the prior written approval of the Exchange. The agreement will be subject to a specific financial investment into the development of one or more of Molten Metals’ projects.

Lara Smith, CEO of Molten Metals has this to say, “Molten Metals has hit the Antimony market at a critical time when there is a strong demand for Antimony and structural issues with supply. Prices are high, and the market is showing strong signs of a deficit. With the potential of Antimony Molten Salt Batteries to gain widespread adoption, Antimony supply could become even more concerning. The speed in which we were able to negotiate an agreement with Scandinavian Steel, a one of the largest distributors of Antimony outside of China, really speaks to the fact that both distributors and end users are having to strengthen their supply chains and collaborate with upstream producers and developers in order to ensure their supply requirements are met. To this end, we are excited to be working with Scandinavian Steel as our first commercial agreement and look forward to further entrenching our relationship with them.”

“We are very excited to enter into a partnership with Molten Metals. The Antimony market is in serious need of alternate sources for raw material considering today’s heavy reliance on Russia and China. This is also why Antimony is listed as one of the top critical minerals in the EU. With very interesting assets in both Slovakia and Canada, Molten Metals is well positioned for the future to reduce this dependance and provide a stable and more ESG compliant supply of Antimony to accommodate the increasing demand in the industry. We are confident that our experience and vast network of customers and logistics partners will be a great contribution to market future supply of Molten’s production.” says Oscar Scheja, Head of Antimony department, Scandinavian Steel AB.