At the beginning of the week, China’s domestic rare earth market as a whole maintained a sideways trend. Under the influence of many uncertain factors, both the supply and demand sides had different sentiments when entering the market. Downstream users were more afraid of high prices, while suppliers were less willing to reduce prices. 

The Nechalacho Rare Earth Mine held a commissioning ceremony for a sensor-based ore sorter in the Northwest Territories of Canada last week to celebrate the first production of the mine. Vital Metals Limited began production of rare earths at its Nechalacho project, 110 kilometers east of Yellowknife in early July.

At the beginning of the week, China’s overall domestic molybdenum market was flat. Prices of molybdenum powder, ferro molybdenum and molybdenum concentrate remain stable on August 9, 2021. 

American Resources Corporation, a socially responsible supplier of next-generation raw materials for the new infrastructure market, announced that it has appointed Jeff Peterson as a senior member to support the company's rare earth team. Mr. Peterson will focus on the deployment and commercialization of processing, separation and purification technology suites in the rare earth sector, as well as expanding the supply of key raw materials.