【Flash | Mongolia’s Molybdenum Output Slips in August, YTD Supply Still Up 9.2%】

Peru’s Ministry of Energy and Mines (MINEM) reported July molybdenum output of 3,606.8 tonnes, up 15.0% YoY. Jan–Jul output totaled 22,384.0 tonnes, down 1.8%. Sociedad Minera Cerro Verde produced 1,012.2 tonnes, up 30.3%; Anglo American Quellaveco produced 458.1 tonnes, up 23.3%; and Minera Las Bambas produced 336.7 tonnes, up 16.3%. Southern Peru Copper Corporation’s output fell 1.6% to 1,214.7 tonnes. Gains at Cerro Verde, Quellaveco and Las Bambas drove the monthly rebound and narrowed the cumulative supply deficit.

The Mongolian Stock Exchange said Erdenet Mining Corporation will auction 560 wet tonnes (499.408 dry tonnes) of molybdenum concentrate on September 24. The material contains at least 44% molybdenum, equivalent to no less than about 219.7 tonnes of contained metal. The opening price is $28,504.17 per dry tonne, about 0.7% above the opening level of the previous same-grade auction on September 10. As that sale closed 19.25% above its opening price, the new listing should not be treated as a transaction price. Delivery is scheduled for October–November on DAP Erlian terms.

Zangezur Copper Molybdenum Combine (ZCMC) reported 2025 molybdenum concentrate output of 15,548 wet tonnes (13,389.68 dry tonnes), down 13.7% from 18,014 wet tonnes (15,507.08 dry tonnes) in 2024. Sales fell 15.5% to 15,614 wet tonnes. Meanwhile, dry ore treated rose 1.5% to 22.67 million tonnes, with ZCMC linking the lower molybdenum output to ore characteristics. The company produced no ferromolybdenum or roasted molybdenum concentrate in 2025, compared with 273 tonnes and 547 tonnes, respectively, in 2024. The concentrate figures represent physical product weight, not contained molybdenum.