Venture Minerals' Mount Lindsay tungsten, tin mining plans face strong protests from environmentalists. Protesters have voiced strong opposition to the controversial West Coast mining project, which is scheduled for its first production in late 2024.

Almonty Industries (AII) has received a commitment from an institutional investor to raise $1.5 million to enable it to obtain a loan to finance the construction of the Sangdong Tungsten Mine in South Korea.

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price remained stable on the whole in the week ended on Friday, February 25, 2022. However, some traders considered profit-taking, weakening market confidence. 

At the beginning of the week, China’s terbium oxide price edges lower while lanthanum oxide and europium oxide prices remain unchanged. 

At the beginning of the week, China’s domestic molybdenum price continues to remain unchanged under the weakness in the demand side and low inventory of raw materials. 

As the world transitions to a clean energy economy, global demand for critical minerals such as lithium and rare earth will surge 400-600% over the next few decades, and demand for minerals used in electric vehicle (EV) batteries will increase even more - by as much as 4,000%. The US is actively promoting an "America Supply Chain" supply chain for key minerals.

MP Materials announced that it has been awarded a $35 million contract through the U.S. Department of Defense (DoD) Industrial Base Analysis and Sustainment Program to support the construction of a commercial-scale heavy rare earth elements (HREE) processing facility at Mountain Pass.

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten bar prices in China continue to remain stable with the impact of uncertain factors such as intensified geopolitical risks, rising expectations of a tightening of the US dollar, and strengthening of the RMB exchange rate. 

The overall performance of China’s domestic rare earth market is uncertain this week. Under the influence of many uncertain factors, the price game between buyers and sellers is fierce. It is mainly reflected in the stable and strong rare earth prices at the beginning of the week.

This week, China’s domestic molybdenum market was tepid on the whole. Affected by the weak supply and demand, the negotiation atmosphere between buyers and sellers was a little stalemate, mainly reflected in the difficult rise and fall of molybdenum price, the rigidity of transactions and the uncertain market outlook.