Australian rare earth miner Lynas Corp is raising 425 million Australian dollars (306 million U.S. dollars) through rights issues to fund the construction of a cracking and leaching plant in Kalgoorlie, Western Australia.

BridgeBio Pharma, Inc. and its affiliate Origin Biosciences announced the US Food and Drug Administration (FDA) has accepted its New Drug Application (NDA) for fosdenopterin, a cyclic pyranopterin monophosphate (cPMP) substrate replacement therapy, for the treatment of patients with molybdenum cofactor deficiency (MoCD) Type A. There is currently no approved treatment to treat type A MoCD, which can cause severe and irreversible nerve damage in infants and children.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained stable in the first trading day on October 9 after the holiday of Mid-autumn Festival and National Day. With less than one month remaining before the presidential election in the United States, plus with many uncertainties under the continued spread of Covid-19, most market participants mainly take a watchful stance. And now, the new average tungsten forecast prices from associations and listed companies are the focus of the market. 

Rare earth market quotation in China: neodymium oxide price declines slightly while europium oxide and dysprosium oxide prices remain unchanged on October 10, 2020 on low trading activity after the holiday. 

The ferro molybdenum, molybdenum powder and molybdenum oxide prices in China maintain stability but start to show sign of rise on October 10, 2020 thanks to good sentiment and firm offers of market participants, despite of low trading activity.

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten powder prices in the Chinese market remained weak adjustment in the week ended on Wednesday September 30, 2020 as the market was quiet with the approaching of Mid-autumn Festival and National Day holiday.

China rare earth price maintained stability in the first trading day after an 8-day public holiday in 2020. As traders are not clear about the market trend after the holiday, most of them keep cautious sentiment with low trading activity. 

China molybdenum price kept stable in the first trading day after the holiday of Mid-autumn Festival and National Day. Market participants in the whole industry enter the market in no hurry, controlling inventories reasonably. 

It is reported that the US has agreed to provide funding for MP Materials (a private equity-backed company that purchased the Mountain Pass mine for $20.5 million in 2017) to design the first heavy rare earth processing facility in the Mojave Desert in California and is also one of the largest light rare earth elements (REEs) mines operating outside of China.

The "Lithium Valley" south of Perth is set for two new faces after UK lithium-ion battery manufacturer Amte Power and Perth-based infrastructure firm Infranomics signed an agreement to explore the possibility of establishing lithium-ion battery manufacturing facilities in the state of Western Australia (WA).