Tungsten (W) has played an important role in the development of the modern industrialized world, but it is also a mineral with an unstable supply chain, which makes the future of the $1 billion Sangdong tungsten mine in South Korea shine. w is a shiny, black metal containing small amounts of carbon and oxygen that is essential for making battery anodes for electric vehicles, semiconductors and other green technologies.

ASX-listed EQ Resources Limited (EQR) is fully funded for the development of its Mt Carbine tungsten project. The company reports that it has secured additional funding commitments of A$5.7 million from its joint venture and offtake partner, the German Cronimet Group, and its director, Zhui Pei Yeo.

The US Las Vegas-based MP Materials is building a 200,000-square-foot rare earth magnet manufacturing facility in Fort Worth to produce rare-earth magnets and materials for electric vehicles through a long-term agreement with General Motors Corp. The components are also critical to robotics, drones, wind turbines, defense systems, and other technologies. The project will create about 150 permanent, highly skilled jobs and about 1,300 indirect jobs, the company said, and the production is expected to begin in 2023.

American Rare Earths Limited (ARR) has found compelling evidence of rare earth mineralization in exploration drilling in the southwest portion of the La Paz Rare Earth Project in the US. The company drilled nine holes for a total of 821 meters, yielding 677 core and chip samples that have been sent to the U.S. Assay Laboratory in Sparks, Nevada for analysis.

According to the Proactive website, W Resources PLC is expected to delist because it is currently "not in the best interest to remain on AIM," the tungsten miner said, noting that the cost of liquid natural gas has risen from 70,000 euros a month to more than 500,000 euros a month.

Strategic Minerals said its 100% owned subsidiary Cornwall Resources (CRL) has signed a 10-year extension to its existing Redmoor Tin and Tungsten Project exploration license agreement.

According to the Korea Institute of Materials Science (KIMS), the performance of grade 42M commercial rare earth magnet can be achieved with 30% less neodymium than before. Due to the growing demand for anisotropic Nd-Fe-B permanent magnets for high-efficiency motors for hybrid/electric vehicles and wind turbines, the shortage of Nd resources has become a serious problem.

Defense Metals Corp. announced access to a total of 3.81% rare earth oxides over 117 meters; including 4.87% over 38 meters at Wicheeda. Results from six additional diamond drill holes totaling 879 meters from the Company's 29-hole, 5,349-meter diamond drilling program were completed in the fall of 2021. Drill holes WI21-51 through WI21-56 were drilled at the same location and within the southern portion of the Wicheeda rare earth element (REE) deposit.

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price remains stable greatly affected by the continued weakness in the demand side. With the approaching of May Day holiday, market transactions are expected to be low. 

China rare earth price dropped significantly in mid-to-early April, and there were few new orders concluded in the market, according to Chinatungsten Online.