10/08/2026
Molybdenum rarely gets attention, but a new report from BMO Capital Markets makes the case that it should. Prices are up more than 50% this year, and the market is heading for a sixth consecutive annual deficit.
Part of the reason is structural: roughly 60% of global molybdenum is produced as a by-product of copper mining, so new supply faces the same constraints as copper.
Casino is known for its copper and gold, but it also hosts one of the largest molybdenum endowments in North America. With 572 million pounds of molybdenum in reserves, Casino holds the largest molybdenum reserve of any development-stage project in North America, and at planned production rates would roughly quadruple Canada's current molybdenum output.
Molybdenum is used across the energy system, from pipelines and refining to power generation, which is why BMO expects demand to keep growing. For Casino, it is one more reason the project sits among the most significant critical minerals opportunities in Canada's development pipeline.
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