Wolfram is a high value mineral from which tungsten carbide (a wear-resistant material used in metalworking, mining, petroleum, military construction, and jewelry industries) is made. Tungsten is also used in light bulb and vacuum tube filaments, as well as electrodes.

Coltan is a crucial raw material in the manufacturing of critical components of electronic equipment such as radios, television sets, computers, jet engines, missiles, ships, weapons, and cellular phones.

It may not be as well known as gold or diamonds, but experts say that without Coltan, the digital economy would grind to a complete halt. Luckily for Rwanda, Coltan is a mineral it has in plenty, and the earlier the banks recognize this significance, the better in redeeming its potential.

The high demand for Coltan by the manufacturing sector in developed and industrialized countries means that there is minimum risk to any commercial bank that choose to finance projects related to it. Also in demand is Wolfram, a mineral that, if supported, has the potential to fetch the country large sums of foreign exchange.

Between January and June 2013, the country exported about 1,000 tons of the mineral, earning $14.4 million. Rwanda and the Democratic Republic of Congo are the major producers of Wolfram in Africa.


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Inadequate funding is limiting the potential of the mining industry to become Rwanda's major export earner and source of much-needed foreign currency.

Over the years, there have been persistent calls for funding from commercial banks, but local lenders, who have yet to warm up to the sector that keeps growing against odds, have largely ignored these calls.

Francois Kanimba, the Minister of Trade and Industry, sounds rather perturbed that the banking sector remains reluctant to extend credit to the mining sector, despite its major potential role in creating new jobs and reducing Rwanda's dependency on traditional agricultural exports such as tea, coffee and pyrethrum.

"The mining industry is complaining that banks are reluctant when it comes to financing their activities. I want to call upon commercial banks to look into this and help this sector grow," Kanimba said.

Kanimba was reacting to the presentation of the Monetary Policy and Financial Stability Statement for the first half of 2013, presented last Tuesday by BNR Governor, John Rwangombwa.

The report indeed highlighted the growth potential of the mining sector and its benefits to the Rwandan economy.

According to figures, the cash-constrained sector exported about 4,500 tons of minerals between January and June this year, earning the country an estimated $114.8 million in foreign exchange.

This represented a 77.7% increase in value and 23.8% increase in volume compared to the same period of the previous year. Coltan and Wolfram performed particularly well, with export volumes growing by 191% and 28% respectively.


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Question: When is a conflict mineral not officially a conflict mineral?

Answer: When it's not a diamond and is from somewhere other than central Africa.

Yet diamonds and African minerals are not the only resources in the world used to finance mayhem. As Bloomberg Markets magazine reports, the Colombian Revolutionary Armed Forces (FARC) funds its insurgency against Colombia's elected government in part with revenue from tungsten. This rare metal has entered the supply chain of parts used to make cars and electronics worldwide.

Companies such as Apple and BMW have pledged to investigate. Beyond that, a new regulatory regime to block this trade — and that of many other conflict minerals that don't fall under existing compacts — is needed. Even in its absence, companies that use such materials in their products would be wise to become more vigilant about the problem.

Two regulations cover conflict minerals. Buying conflict diamonds is barred by the Kimberley Process Certification Scheme, agreed to in 2003 by the major diamond-trading countries and the gem industry. And the Dodd-Frank Act requires U.S. companies whose products contain gold, tantalum, tin or tungsten from the Democratic Republic of Congo and neighboring states to disclose their efforts to trace the minerals' provenance.

The United States presumably could expand the Dodd-Frank provision to cover minerals outside central Africa. A proposal to do essentially the same thing is now before the European Union. Unfortunately, there is little political support in these Western countries for establishing new rules.

Businesses resist such measures. Three American business groups challenged (unsuccessfully) the limited U.S. law in court. Instead of fighting, car and electronics makers would be wise to follow the example of the diamond industry and scrutinize their supply chains — if only to protect their profits. After all, consumers and shareholders increasingly demand that companies use only materials produced without labor and human-rights abuses, and whose profits do not fuel warfare.

Consumers want cheap prices, but not unconditionally. After recent fires and accidents at apparel factories in Bangladesh, for instance, retailers, under pressure from protesters, agreed to improve factory conditions there.

Shareholders, for their part, know that reputation affects revenue. For example, the American Federation of State, County and Municipal Employees Pension Plan has filed proposals with Caterpillar, Halliburton and McDonald's asking for reports on business risks arising from labor and human rights abuses in company operations. ...

In other words, a conflict mineral is a conflict mineral. And it's bad for business.


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The ExOne Company, a global provider of three-dimensional printing machines and printed products to industrial customers and rapid prototype + manufacturing, jointly announced today a collaboration that has added bonded tungsten to ExOne’s portfolio of 3D printing material.      

ExOne and rp+m worked collaboratively to develop the application of bonded tungsten in the design of rp+m’s products to be used in protecting people and their environments from the harmful effects of ionizing radiation. The 3D printed products provide solutions that reduce development time and costs traditionally associated with fabrication and tooling, as well as production lead-time. rp+m and its partner, Radiation Protection Technologies, target bundled solutions for lead(Pb) replacement for the medical imaging and aerospace markets. rp+m has ordered an M-Flex machine to develop solutions in bonded tungsten, which replaces lead(Pb), with a Restriction of Use of Hazardous Substances compliant solution.

Rick Lucas, ExOne’s chief technology officer, comments, “3D printed bonded tungsten is a great solution for radiation shielding because the M-Flex can create complex shapes for these applications that would be difficult to create with conventional methods of manufacturing. Our collaboration with rp+m demonstrates the power of ExOne’s strategy in engaging customers in the early stages of the materials development process, yielding direct applications in new markets.”

Matt Hlavin, CEO of rp+m noted, “We believe ExOne’s M-Flex machine is unique because of its ability to use multiple types of material and the machine’s fast print speeds. The ExOne team is clearly committed to forming strategic relationships with innovators, such as rp+m, to drive their 3D technology to new frontiers. rp+m will continue to work with ExOne to develop other materials and applications for the M-Flex machine.”  

ExOne’s Material Applications Laboratory (ExMAL) continues to have other materials under various stages of development. ExOne has been focused on 3D printing for industrial customers since 2005.


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Tungsten is a rather important element. Bearing Atomic Number 74, Tungsten is used in a wide range of applications including the production of LCD screens to internal parts of high-performance engines such as crankshafts. There are mines around the globe that supply the planet with its tungsten, and most of it comes from China. In fact, China produces 85 percent of the world's tungsten ore. Some of this tungsten, however, comes from sources that aren't exactly on the up and up and that's putting it mildly. It may be less than one percent of the global supply of tungsten ore, but Revolutionary Armed Forces of Columbia (aka FARC) is mining the tungsten ore and selling it allegedly to fund guerrilla warfare.

This group wears the terrorist label. That means that any tungsten ore they sell is officially a conflict material.. and it's winding up in the global supply, which is then potentially purchased by many companies. This includes automakers like Volkswagen, BMW, and Ferrari. Of course, the automakers state that they only purchase their tungsten ore from official and legal sources. This is increasingly harder to confirm 100 percent, however, because some of the largest supplies of tungsten might wind up purchasing portions of the element from conflict mines.

All of the tungsten ore coming from Columbia doesn't necessarily come from the FARC-operated mine of Tiger Hill. Still, Colombian officials believe that a portion of the exported commodity does and they are working to stop this. It's not an easy battle as you might imagine.


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H.C. Starck, a leading worldwide manufacturer of technology metals and one of the biggest companies in the global tungsten industry, and Nui Phao Mining Company (“Nui Phao”), a subsidiary of one of Vietnam’s largest private sector business groups, Masan Group Corporation (HOSE: MSN, “Masan Group”), have announced the signing of definitive agreements to establish a joint venture for the production of value-added tungsten chemicals in Vietnam.

Nui Phao and H.C. Starck will own 51% and 49% respectively of the joint venture, which will process all of Nui Phao’s tungsten concentrate into higher value-add tungsten chemicals, including ammonium paratungstate (APT) and blue tungsten oxide (BTO). The joint venture company will have an installed capacity of 6,500 tons tungsten trioxide per annum. H.C. Starck will manage the joint venture and has committed to buy a significant share of the production for its own internal use. The company will also support marketing of the remaining product through the joint venture.

Andreas Meier, President and CEO of H.C. Starck said, “Masan has developed a world-class mining operation and the Nui Phao mine will be a stable source of material for the joint venture. For H.C. Starck this joint venture strengthens our leading position as a global tungsten producer and increases our manufacturing footprint in Asia. Based on the secured supply of tungsten concentrate and our recycling capabilities, we can provide our customers long-term supply security independent from regulatory restrictions and we expect less price volatility for tungsten.”

H.C. Starck has significant experience in the tungsten processing business, which is a niche and technologically intensive industry, and will therefore be responsible for the industrial management of the joint venture.

Dominic Heaton, CEO of Masan Resources, a subsidiary of Masan Group and the parent company of Nui Phao, commented, “H.C Starck has world-class expertise in the processing of tungsten chemicals and oxides. With H.C. Starck’s specialized know-how and technology, Masan Group is able to contribute to Vietnam’s objective of becoming more of a manufacturer of value-added products.”

Madhur Maini, CEO of Masan Group, said: “H.C Starck is the technology leader in the production of several high-technology metals. The partnership with H.C. Starck, one of the world’s largest tungsten players, will help Masan capture more of the tungsten value chain and is a testament to the quality of Nui Phao’s tungsten deposit and processing plant.”

H.C. Starck is a leading global manufacturer for technology metals. Besides being one of the largest global tungsten companies in the world, it also holds top market positions with its tantalum, molybdenum, niobium, and rhenium products. All of these metals require advanced technology and know-how to process.

Nui Phao, the tungsten concentrate supplier of the joint venture, has developed one of the largest known tungsten deposits outside of China with an expected mine life of more than 15 years. The construction of the tungsten chemical plant that will be part of the joint venture is in progress. The first stage of the tungsten chemical plant will start production next month, with further stages expected to be completed in 2014.

Tungsten is one of the hardest metals and has the highest melting point. As a strategic resource, it is used in a variety of applications requiring high strength. APT and BTO are intermediary chemicals used for the production of high speed cutting and drilling tools which are in high demand from growing industries such as mining and mechanical engineering, medical technology, and the automotive and energy industries. APT is also used for catalyst production in the chemical industry. The European Union identified tungsten as one of the critical raw materials that have high strategic value and yet for which there are only limited natural resources.

The establishment of the joint venture and closing of the definitive agreements are subject to customary corporate and regulatory approvals.


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"Big companies are struggling to maintain tungsten concentrates prices, while the downstream demand  is not too good." Hunan smelter said.

At the same time, the guidance prices of Jiangxi Ganzhou Tungsten Industry Association are still unchanged in August, 65% black tungsten concentrate 155000 yuan / ton.

The spot market price is still at a historic high of 155000-158000 yuan / ton, which is  flat with last week.

"The current tungsten market is more cautious, the transaction is not active, most market participants took a wait-and-see attitude." a Jiangxi businessmen said.
 

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China Minmetals Nonferrous Metals (CMN) raised its delivery price of tungsten concentrates in August, trying to boost confidence in the market.

The price of black tungsten concentrate contenting 65% tungsten is 160000 yuan / ton (25922 dollars / ton).

White tungsten concentrate price is 159000 yuan / ton, compared with July up 5000 yuan / ton.
 

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Some APT manufacturers pause quotations,the operating rate of ferrotungsten manufacturers operating rate is low.

The producers mentality of scrap tungsten is relatively good, the price will not be strong.The amout of high scrap is low.

The price is strong. The price of scrap tungsten is expected to be stable in short-term.
 

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Tungsten market dominated by smooth. The high price of tungsten concentrate was cutted, less than 1.9 yuan / degrees.

By double effects of short funds and the negative purchase of downstream tungsten smelting factory.

Some APT manufacturers pause quotations,the operating rate of ferrotungsten manufacturers operating rate is low.

The market turnover is in general.The offer of tungsten carbide suppliers is strong.
 

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