China’s Export Controls on Molybdenum Boost EV Resources’ Prospects

EV Resources Limited ( (AU:EVR) ) has issued an announcement.

EV Resources Limited announced that China is imposing export controls on certain molybdenum products, a mineral where China is a major producer. This move is expected to increase reliance on molybdenum sources within the Americas, benefiting EV Resources’ Parag project in Peru, which has shown high-grade molybdenum alongside copper. The Parag project is positioned to become a significant supplier to the USA, addressing increased demand as global supply faces pressure from aging and deepening mines. This development could enhance EVR’s market positioning and provide economic support to its copper project.

More about EV Resources Limited

EV Resources Limited is a company engaged in the mining industry, focusing primarily on the exploration and development of mineral resources such as copper and molybdenum. The company has a strategic interest in the Parag copper-molybdenum-silver porphyry project in Peru, where it holds a 70% stake.

Technical Sentiment Consensus Rating: Buy

Current Market Cap: €3.52M

For an in-depth examination of EVR stock, go to TipRanks’ Stock Analysis page.