Tungsten ore held steady high price recently, leading to a greater willingness for merchants to sell. Meanwhile, affected by cost, the quotation of APT was higher, resulting in a stagnant market with few sellers. Part of the low prices hover around 173,000 yuan. The entire poor shipment in the tungsten market and limited downstream delivery efforts put part of processing enterprises at risk of price hanging upside down.

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Recently, an insider who declined to be named revealed that SRB plans to purchase tungsten concentrates on Minmetals’ behalf, with a total volume of 10,000 tons, equivalent to the national monthly output of tungsten concentrate. But the specific volume depends on the official announcement.

This decision certainly will reduce the supply of tungsten concentrates in the market in a short time and push the price of tungsten concentrates.

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Recently, Tungsten Industry Development Exchange Conference was held in Nankang, Jiangxi. The former Director of the Standing Committee of Nankang Municipal Congress, Zhou Yingtang and Nankang city leader Ke Yansong, Zhong Xuhui, Xiao Zhidong and Wu Jian attended the meeting. At the conference, Fang Zhigang, the professor of the University of Utah gave a talk on the subject of the development trend of industrial technology of gradient cemented carbide and cemented carbide. He gave vivid and deep analyses of the integrated trend of tungsten industry at home and abroad, the development trend of tungsten industrial structure, and processes and development trend of cemented carbide. His analysis provides important guidance to the sustainable development of tungsten industry in Nankang city.

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Recently, the ministry of industry and information technology announced the first list of enterprises qualified, according to the industry admittance requirements for tungsten, tin and antimony industry and management interim measures of enterprises access to tungsten, tin and antimony industry.

The first list includes 9 enterprises in Jiangxi, they are Zhangyuan Tungsten in Chongyi County, Yaosheng Tungsten, Jiangwu Cemented Carbide, Haisheng Tungsten and Molybdenum in Ganzhou, Jiangwu Youtai New Materials, Yuanchi New Materials, Huamao Tungsten Materials, Ganzhou Nonferrous Metal Smelting and Huaxing Tungsten. It’s reported that the first list include 16 enterprises.

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ZCC has proposed the objectives and outlook of “developing ZCC into a world-class cemented carbide enterprise” in 1980s and “holding a place among the international advanced cemented carbide enterprises” in 1990s. Entering the new century, ZCC has taken “building a world famous brand and being among world strong cemented carbide enterprises”. Such objectives make a united will and enable ZCC to become a new legend in the development history. The total assets are planned to reach 10 billion and the total profit is planned to reach 1 billion by the end of 12^th Five Year Plan to build an export-oriented and multinational company ranking top 3 in the world industry.

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Why tungsten prices are moving forward?

It is said that no new tungsten projects are coming on-line in the next 12-18 months. Then there is China's role. China accounts for 83% of global production and has considerable influence on tungsten prices.

China is looking to weaken Western producers as it would be more beneficial to maintain healthy prices to fund its businesses, its growth and its move into downstream and higher-margin tungsten products. China can respond quickly to drops in tungsten prices. For example, it was reported in one publication in January that the majority of tungsten miners were unwilling to sell their tungsten concentrate at lower prices because of the bullish outlook. This acts as somewhat of a floor, because the drop in supply would improve pricing.

We're going to see APT prices back up around the $400/Mtu mark, if not by late 2013 then by early to mid-2014.

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American National Carbide, a tungsten carbide supplier and high-end toolmaker, has expanded its tungsten carbide scrap recycling facility to handle up to 1 million pounds (1 Mlb) scrap carbide per year.

Tungsten carbide scrap recycling is extremely important for meeting global tungsten demand. Current estimates of supply from recycling for the global tungsten market are about 35%, which is significant because 10 years ago it was 10%. Given that the U.S. doesn't have any producing tungsten mines, it's a positive for the country. With an improved outlook for U.S. manufacturing coupled with the shale boom, tungsten consumption is likely going to increase, and recycling will play a role in offseting any supply shortfalls.

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JOHANNESBURG (miningweekly.com) –The initial focus of aspirant multi-commodity natural resource asset developer Premier African Minerals on Monday said a recent exploration update from its flagship RHA tungsten project, in Zimbabwe, indicated the potential for development of a low-capital- and low-operating-cost mine in the near term.

A five-hole diamond drilling program undertaken on site confirmed significant tungsten oxide values.

"This update has revealed significant tungsten mineralisation in the form of very coarse wolframite crystals hosted by quartz veins identified from drillhole intersections, and highlights the exceptional prospectivity of our RHA tungsten project,” Premier CEO George Roach said in a statement.

Drilling had also potentially uncovered three previously unknown, well-mineralised quartz veins in the existing lode system.

Further low-cost surface trenching and sampling would be undertaken in the first quarter of the year to confirm the surface location and extent of the hanging wall lodes, with a South African Mineral Codes-compliant resource on target for completion within the first half of the year.

“In tandem with this, we are also completing a conceptual mine study, which will determine the most beneficial and cost-effective method of exploiting the known extent of the RHA deposit,” added Roach.

The conceptual study would consider the possibility of early and low-cost production from the recently discovered outcropping mineralised quartz veins, as well as from existing tailings dams and dumps.

“Given the availability of water and power at the property, and the relative simplicity of the required processing plant, we believe we will be able to start development with a view to production potentially before the end of 2013," Roach advised.

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Tungsten ranked second behind rare earths in the British Geological Survey's 2012 supply risk index based on a number of factors like location and concentration of production and reserves, but the report highlighted that tungsten (as well as rare earths) has lower recycling and low substitutability.

The supply risk for tungsten stems from China's role in the industry. China accounts for approximately 83% of global tungsten concentrate production and about 62% of global tungsten reserves. China became a significant player in tungsten production in the mid-1980s. By the late 1990s, it had flooded the global market with tungsten causing concentrate prices to plunge below most western producer's variable cost. As a result, the vast majority of western mines were closed.

Companies wanting strong tungsten projects in their portfolios are looking to Portugal as a jurisdiction to achieve that goal. Among the group of junior miners exploring Portugal’s mineral wealth is Colt Resources (TSXV:GTP,OTCQX:COLTF), which stated in a corporate presentation that Portugal remains largely overlooked and underexplored despite mining history dating back 2,000 years.

Echoing Colt’s sentiments is Jim Robertson, Director, President and CEO of Blackheath Resources (TSXV:BHR, FWB:04B) who told Tungsten Investing News (TIN) that Portugal’s tungsten mining history dates back to the end of the 19^th century.

Robertson points out that the nation’s Panasaqueira mine is one of the few continuously operating tungsten mines outside of China and it has produced high grade wolframite for over 100 years.  By 2008 when Primary Metals was acquired by the Japanese metal firm Sojitz, Panasaqueira was a turnaround story that was central in a deal worth roughly 20 times earnings and that resulted in a 30-fold return on investment in 3 years.

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