KOSDAQ-listed company Lightron announced on the 2nd that it has signed a Memorandum of Agreement (MOA) to acquire 100% of the shares of MOU Main Changdae Mine and Molybdenum Mine.
(Left) Park Chan-hee, CEO of Lightron, (Right) Geum Seok-du, Chairman of MOU Mine Changdae Mine. / Photo by Lightron
Lightron plans to conduct due diligence to verify the mine's reserves, economic value, and business feasibility before signing the final contract.
According to the company, an investigation into the molybdenum disulfide reserves of the mine has been conducted once, confirming reserves of approximately 1.95 million tons. The current economic feasibility review is a procedure to verify this. Once the final contract is signed after a swift due diligence process, production can commence.
Exploration and drilling permits for the mine have already been completed, and molybdenum production is currently underway. After acquiring the mine, Lightron plans to expand facilities to establish a value chain from mining and flotation to concentrate production, aiming to produce high-grade molybdenum.
Molybdenum is a representative alloy material, and recently its applications have expanded to include precursors for secondary batteries, next-generation advanced semiconductors, and defense industries, making it a key rare mineral. Since most of the molybdenum required domestically is imported, this acquisition is expected to have positive effects on the national economy and security.
A Lightron representative stated, “We are pleased to be on the verge of securing rare minerals used in advanced industries such as secondary batteries and advanced semiconductors,” adding, “We will smoothly complete the remaining procedures, including signing the final contract, to lay the foundation for corporate growth.”
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