Defense Metals Corp. announced preliminary results of alternative Acid Bake process test work on mineralized feedstock at the Wicheeda project, which showed that the use of the Acid Bake process could improve the efficiency of rare earth recovery and potentially improve capital and operating costs.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained stable on the whole in the week ended on Thursday June 2, 2022 as the market was in a stalemate and most participants kept cautious sentiment. 

China rare earth price maintains stability at the beginning of the week. Although the production capacity of rare earth production enterprises is limited due to the high pressure of environmental protection, frequent rainy weather and high epidemic prevention requirements in some areas, it is still difficult to support the increase in the price of rare earth raw materials, mainly due to the slow follow-up of downstream demand.

At the beginning of the week, China’s domestic molybdenum market was still weak, which was mainly reflected in the low enthusiasm of traders, stable prices of molybdenum products, limited new increased orders as well as unclear market outlook. Currently, the prices of molybdenum concentrate and ferromolybdenum are about 2,610 yuan/ton and 168,000 yuan/ton respectively.

A recent study develops a hydrothermal technique for generating linked-bridge MoO₂ quantum dots to improve the physical and mechanical properties of copper composites.

Athena Gold Corporation recently reported that it has acquired the porphyry copper gold molybdenum prospect in Esmeralda County, 30 miles northwest of Tonopah, Nevada, USA. The "Crow Springs South" or "CSS" project consists of eleven Bureau of Land Management unpatented claims acquired through a contract with an independent geologist.

To achieve the transition to green energy, we need large quantities of critical minerals such as tungsten, manganese, lithium, cobalt, and rare earths. However, mining has led to a certain degree of destruction of mining areas, and the mining of key metals in mining waste may offset the damage to local areas.

EV Resources will begin drilling in the coming week, with the rig expected to arrive at the Khartoum tin-tungsten project in Queensland on June 6. The initial 3,000m RC drilling campaign in the Boulder Prospect area has been planned for some time but has been repeatedly postponed due to the counter-seasonal wet weather.

Energy Fuels Inc. has locked up rare earths and uranium for the Bahia project, as the company recently announced it has entered into binding agreements (Purchase Agreements) for the acquisition of 17 mineral concessions totaling 15,089.71 hectares of Bahia Project between the towns of Prado and Caravelas in the State of Bahia, Brazil.

Canada has begun supplying the world with minerals critical to a greener economy with Nechalacho mine shipping concentrated rare earth ore. David Connelly of Cheetah Resources said, "We own the Nechalacho mine southwest of Yellowknife, Northwest Territories, and Canada and its allies are gaining independence from China's rare earth supply chain."