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The EBITDA at the company’s Moland mine in South Korea increased by 70%, and all-in cash cost for this period was US$7.80 per pound of molybdenum sold. In Q3, the molybdenum price began to decline and in October, it mostly traded below US$10 per pound. 

NMC says that it is actively implementing a mine plan to be prepared for soft molybdenum prices. At Moland, testing to produce lubricant grade molybdenum concentrate is ongoing.

While Moland started commercial production in April 2010 and has had an improved production profile every year, the Canadian mine, Boss Mountain in British Columbia, is a past molybdenum producer.