Midwest Energy Emissions Corporation (ME₂C Environmental), a leading environmental technologies firm, will launch a REE technology test with the College of Earth and Mineral Sciences of Pennsylvania State University (Penn State). The company said this is the next stage of its rare earth technology development and commercialization.

Arafura Resources Ltd is set to raise at least A$40 million (US$30.04 million) to develop its Nolans rare earth project in central Australia. The capital raising will be exchanged for shares of 12 cents per share, which means a discount of about 30% from the last closing price, and will be carried out in two batches.

Analysis of latest tungsten market from Chinatungsten Online

China’s state-owned tungsten enterprises raised their bid prices for the first half of July and association increased average tungsten forecast prices for this month in response to this round of price increase in domestic market. 

China rare earth price is in the upward trend on July 7, 2021 as tight supply and increased demand boost market confidence. The industry predicts that the price of mainstream products is unlikely to fall again in the short term. In the medium and long term, due to the optimistic expectations of global economic growth and the expanding scale of emerging markets, the demand for rare earths is expected to increase. 

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices are unchanged from the previous trading day on July 7, 2021. 

A new Canadian Congress report recommends that as the Chinese Communist regime strengthens its control over the supply of rare earths and other critical materials, the Canadian government should take action to protect the country’s critical mineral industries.

In the 14th Five-Year Plan for Renewable Energy Development, Zhejiang Province states that the installed capacity of renewable energy will exceed 50 million KW. and reach more than 36% by the end of 2025. Among them, the capacity of wind power will reach more than 6.4 million KW, and the newly installed capacity will be more than 4.5 million KW.

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price keeps firm in the week began on Monday, July 05, 2021 boosted by high production cost and strong rised mentality of manufacturers. As the demand seems not improved significantly and new bid prices for early this month are not released, participants take a watchful stance. 

Refer to foreign media reports, the BMW Group has created a closed-loop material cycle to recover tungsten(W) in automotive production tools such as drill bits. For recycling, the company's factories in Germany and Austria are collecting used drill bits and milling heads. This secondary W will be used to manufacture new milling tools and drilling tools.

Amid the impact of the Covid-19 pandemic in 2020, many manufacturing industries such as rare earth, tungsten, molybdenum, automobiles, and 3C electronics industries are facing intense tests. Due to the constraints of suppliers, Europe is committed to reducing its dependence on China's raw materials.