Rare earth market quotation in China: the DyFe, praseodymium oxide and neodymium oxide prices continue to decline on December 17, 2020 under many instabilities in the market. 

Molybdenum market quotation in China: ammonium molybdate, ammonium heptamolvbdate and molybdenum concentrate prices continues to rise on December 17, 2020 with the support of tight supply and relatively active trading activity. 

Australia is committed to the development of critical minerals (CMs) such as rare earths. Australian Federal Resources Minister Keith Pitt reiterated that Australian aspirations to become a world leader in the exploration, extraction, production and processing of CMs.

The Jiangxi Provincial Department of Natural Resources intends to transfer the mining rights of the Hongtao Tungsten Mine in Ganzhou with compensation. According to the relevant report, the estimated value of the transfer proceeds from the mining rights of the Hongtao Tungsten Mine is 4.5749 million yuan. It was higher than the benchmark price of the transfer income calculated based on the mining rights transfer income market in Jiangxi Province of 4.5434 million yuan.

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten powder prices keep firm in the middle of December due to the tightening availability of raw materials and consumers restocking at the end of the year. 

Rare earth market quotation in China: neodymium oxide, dysprosium oxide and praseodymium neodymium oxide prices are weak on the whole in the middle of December, 2020 due to relatively weak demand.

Molybdenum market quotation in China: ferro molybdenum, molybdenum concentrate and molybdenum oxide prices continue to climb on December 16, 2020 due to improved buying appetite of buyers and good expect for the outlook. 

Seren Technologies Limited has developed a technology that recycles rare earths from permanent magnets for sustaining direct drive turbines. Direct drive wind turbines account for one-third of all wind power generation. Compared to other wind technologies they have higher energy output and lower maintenance requirements, which means they are favored offshore. To operate direct drive turbines, permanent magnets are needed - and obtaining these magnets is increasingly complicated.

Jiangxi Kuimeishan Tungsten Industry Co., Ltd. applied for the renewal of the registered mining rights. According to the announcement of the Jiangxi Provincial Department of Natural Resources, the evaluation value of the mining right transfer income of the Kuimeishan Tungsten Mine is RMB 13.8626 million. The estimated recoverable unit price is 2518.58 yuan/ton, which is higher than the market benchmark price of 2331.8 yuan/ton for the proceeds from the transfer of mining rights in Jiangxi Province (mineral types: black tungsten, pit mining, grade greater than 0.4%).

The groundbreaking ceremony for the early construction of the Bakuta Tungsten Mine Project was held at the mine site in Kazakhstan. The construction of the Bakuta Tungsten Mine Project, a joint venture between China Jiangxi Copper and Kazakhstan, has officially started, marking a milestone in the construction of the project.