Molybdenum market quotation in China: molybdenum concentrate, molybdenum powder and ferro molybdenum prices are unchanged on December 27, 2021 from last week under the imbalanced supply and demand. 

Australian Strategic Materials Ltd (ASM) has signed a joint declaration of cooperation with Korea Mine Rehabilitation and Resources Corporation (KOMIR), formerly known as Korean Resources Corporation (KORES), to secure the supply of rare earths and critical minerals to Korea.

Rare earth elements are used in all types of modern technology, including batteries for electric vehicles. General Motors (GM) will purchase rare earth magnets for use in electric cars. The automaker will invest in a battery cell development center in Michigan to reduce the cost of building electric vehicles.

Perth-based exploration company Venus Metals Corporation (VMC) has confirmed that regional soil surveys in the Mangaroon North project area in the Gascoyne region of Western Australia have identified a range of rare earth elements (REEs), gold, and platinum group element (PGE) targets.