【Flash | Highland Valley Strike Reaches Vancouver Port Picket Lines, Deepening Molybdenum Logistics Risk】

Armenia’s Statistical Committee reported January–September 2026 molybdenum concentrate output of 13,130.8 tonnes, up 15.7% year on year, while ferromolybdenum production fell 40.3% to 1,338.3 tonnes. Third-quarter output stood at 4,244.8 tonnes of molybdenum concentrate and 607.1 tonnes of ferromolybdenum. Based on the latest cumulative figures and the previously released January–August totals, SMM calculates September output at approximately 1,429.8 tonnes and 260.0 tonnes, respectively. These figures represent product mass rather than contained molybdenum. The official data do not disclose concentrate grades, inventories or export destinations.

The British Columbia Federation of Labour declared on November 6 that copper concentrate, molybdenum concentrate and other mineral products produced by or originating from Teck Resources Limited’s Highland Valley Copper operation would be covered by a “hot edict,” including material in storage or transit. Affiliated unions and their members were asked not to handle, load, unload, store, transport, ship or process the products. More than 1,200 workers have been on strike since October 24, while Teck previously confirmed that the mine was operating at reduced capacity. The action extends the risk from mine production to concentrate logistics, although no actual shipment blockage, dispatch reduction or molybdenum production loss has yet been confirmed.

Antofagasta plc produced 2,900 tonnes of molybdenum in the third quarter, down about 6.5% quarter on quarter. Nine-month output fell 21.1% year on year to 9,000 tonnes. Los Pelambres produced 2,000 tonnes, down 13% from the previous quarter due to lower molybdenum grades and recoveries, while Centinela contributed about 900 tonnes and partially offset the decline. The figures indicate that the group’s molybdenum recovery remains uneven, with grades and recoveries at Los Pelambres still central to near-term output.