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China rare earth quotas go dark: China has quietly issued its first 2025 rare earth mining and smelting quota according to sources with knowledge on the matter, reports Reuters. Beijing typically issues rare earth quotas twice a year in a public statement to state-owned companies; however, the announcement was not made public this time, with companies told not to share the numbers for security reasons. Last year, China issued two batches of mining quotas for 270kt, with annual supply growth slowing to 5.9% from 21.4% in 2023; Reuters’ sources did not disclose quota volumes for this year. Separately, China vowed on Saturday to step up a crackdown and toughen law enforcement against the smuggling of strategic minerals, after the state security ministry accused foreign spy agencies of having tried to “steal” rare earths from the country. |
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Cobalt & Bismuth |
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Reuters - July 19, 2025
Ren Limin, a worker at the Jinyuan Company's smelting workshop, prepares to pour the rare earth metal Lanthanum into a mould near the town ...
Ren Limin, a worker at the Jinyuan Company's smelting workshop, prepares to pour the rare earth metal Lanthanum into a mould near the town ...
China vowed on Saturday to step up a crackdown and toughen law enforcement against smuggling of strategic minerals seen as vital to national security and critical for development…The world's largest supplier of dozens of strategic minerals, China began imposing export curbs in 2023 on supplies vital to sectors ranging from chipmaking and the energy transition to defence…The commerce ministry remarks, describing smuggling and export of strategic minerals as a severe problem to be combated, came at a meeting of officials responsible for export control coordination and other government bodies…Evasive methods such as false declarations and third-country transshipment were taking on increasingly covert forms, it added, urging government bodies to prevent illegal outflows of strategic minerals and related technologies.
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Reuters - July 21, 2025
Chinese exports of two critical minerals plunge even as rare earths rebound
Chinese exports of two critical minerals plunge even as rare earths rebound
China's exports of two critical minerals used in weapons, telecommunications and solar cells have plunged over the past three months amid a crackdown on smuggling and transshipment that has involved China's top spy agency…Exports of antimony and germanium in June were down 88% and 95%, respectively, versus January, according to customs data published on Sunday…Both were added to an export control list in 2023 and 2024, respectively. Exports to the U.S. were then banned in December as part of retaliation for chip restrictions…The collapse in export volumes coincides with well-publicised crackdown on critical mineral export control evasion. China's spy agency said last week it had detected attempts to bypass controls via transshipment, where cargoes move through a third country before going on to their final destination.
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Congo |
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Associated Press - July 21, 2025
Congo and Rwanda-backed rebels have signed a declaration aiming for a permanent ceasefire in eastern Congo.
Congo and Rwanda-backed rebels have signed a declaration aiming for a permanent ceasefire in eastern Congo.
Congo and Rwanda-backed rebels have signed a declaration of principles for a permanent ceasefire in eastern Congo, where ethnic tensions and quest for rich minerals have resulted in one of Africa’s longest conflicts with thousands killed this year…The conflict can be traced to the aftermath of the Rwandan genocide of 1994, when Hutu soldiers and militias killed between 500,000 and 1 million minority Tutsis as well as moderate Hutus and the Indigenous Twa… Analysts have said a lot of interests in the conflict in Congo are tied to the mostly untapped minerals in the east, estimated to be worth as much as $24 trillion by the U.S. Department of Commerce…The Trump administration has pushed to gain access to the minerals key to much of the world’s technology. It is also to counter China, a key player in the region where the U.S. presence and influence have eroded. That is already playing out with KoBold Metals, a U.S. mining company that on Friday announced it has signed an agreement with Congo for “large-scale minerals exploration program” in the east…The declaration of principles was the first direct commitment by both sides since the rebels, supported by neighboring Rwanda, seized two key cities in eastern Congo in a major advance early this year…The signing sets in motion negotiations for a final peace deal, to be signed no later than Aug. 18. It also reflects provisions of a U.S.-brokered peace deal signed between Congo and Rwanda on June 27.
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For further information about the NICO Project and its Mineral Reserves, please refer to the Technical Report on the Feasibility Study for NICO, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon, which has been filed on SEDAR and is available under the Company's profile at www.sedar.com.
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CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
The materials appearing in this email contain forward-looking information. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management’s expectations with respect to, among other things, the size and quality of the Company’s mineral resources, progress in permitting and development of mineral properties, timing and cost for placing the Company’s mineral projects into production, costs of production, amount and quality of metal products recoverable from the Company’s mineral resources, anticipated revenues, earnings and cash flows from the Company's mineral projects, demand and market outlook for metals and coal and future metal and coal prices. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the inherent risks involved in the exploration and development of mineral properties, uncertainties with respect to the receipt or timing of required permits and regulatory approvals, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal and coal prices, the possibility of project cost overruns or unanticipated costs and expenses, the possibility that production from the Company's mineral projects may be less than anticipated, uncertainties relating to the availability and costs of financing needed in the future, uncertainties related to metal recoveries and other factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update them or revise it to reflect new events or circumstances, except as required by law.
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