Vantage Drilling International has reached an agreement with TotalEnergies to supply its Tungsten Explorer to the latter for at least 225 days for the West Africa work. Vantage says the firm part of the contract is worth about $79 million, with the possibility of three more extensions.

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices remain weak adjustment on June 9, 2022 as the market is still in a stalemate. In addition, the decline in new offers from listed tungsten companies also weakened market confidence. 

According to the director of the Democratic Republic of Congo's mining registry, the country could see about 10 new metal mines in four years that include copper, tin, tantalum, and tungsten, with its key to powering the green energy transition.

There was no significant change in the overall China rare earth market this week began on Monday June 6, 2022. At the beginning of the week, affected by the end of the Dragon Boat Festival and the unblocking of Shanghai, the prices of mainstream light and heavy rare earth products remained basically stable, with a small increase in some cases.