Alderan Resources' partner in the Frisco copper project in Utah, Kennecott Exploration (KEX), has drilled for copper and molybdenum on the Copper Gulch prospect. A subsidiary of Rio Tinto (ASX: RIO), KEX spent $30 million and has the right to explore over a 10-year period, resulting in a 70% stake in Frisco.

Tungsten wire, made of refractory metal tungsten (W), has high melting point, high resistivity, good strength and low vapor pressure, which is widely used in the field of lighting. However, with the continuous reduction of the traditional lighting application market in recent years, head tungsten enterprises in China are more actively exploring other application fields, such as photovoltaics.

As one of the core consumables in the silicon wafer cutting process, the cutting effect of diamond wire is mainly affected by factors such as product thickness, busbar performance and cutting method. Generally speaking, the cutting effect is better when the diamond wire is thinner. 

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.

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.

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. 

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. 

China’s domestic molybdenum price rebounded in the week ended on Friday June 10, 2022 under the background of rising steel prices and a slight improvement in the global economy.

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices continue to be weak on June 8, 2022 as the demand fails to meet market expectation and the new guide prices from listed tungsten companies also decline, which weakens market confidence. However, market price is not likely to decline sharply in the short term under the background of global inflation and economic recovery after the COVID-19. 

Rainbow Rare Earths has entered into a Memorandum of Understanding with a diversified chemical group based in South Africa to investigate opportunities to extract rare earth elements from the nitro phosphate process stream at its phosphoric acid production plant located near Johannesburg.