Vietnam Proposes Draft on Strategic Mineral Exports, Including Rare Earths, Tungsten, Tin, and Lithium

【SMM Rare Earth Flash】 AuKing Mining reported further high-grade rare earth mineralization from latest assays at the Nathace Hill deposit within its Tundulu rare earth project in southern Malawi. Drilling on the western side intersected 59 m at 1.51% TREO from 13 m depth, including 5 m at 2.96% TREO. The northeastern side returned 47 m at 1.5% TREO from 26 m depth, including 6 m at 3.03% TREO, plus 9 m at 1.53% TREO from 128 m depth. Southeastern step-out drilling intersected 36 m at 1.5% TREO from 85 m depth, including 6 m at 3.14% TREO. The results further confirm multi-directional mineralization potential of the carbonatite complex.

[SMM Recycled Rare Earth Weekly Review: Scrap Prices Consolidate at Highs; Recycling Purchases Remain Cautious at Elevated Levels] Overall, this week, scrap Pr-Nd prices stabilized first and then rose, stabilizing at highs from mid-week onward. Recycling enterprises followed market trends and remained cautious about chasing higher prices. Suppliers' willingness to sell shifted from wait-and-see to recovering, and market trading gradually improved. In the short term, scrap Pr-Nd prices are expected to continue consolidating at highs, with future trends still dependent on Pr-Nd oxide price movements and recycling enterprises' procurement pace.

[SMM Rare Earth Weekly Review: Pr-Nd Firm at Highs with Stalled Gains; Dy and Tb Weaken, While Ho and Er Lead the Rise] Terbium oxide was lowered to 6.36-6.4 million yuan/mt, consolidating at low levels with the decline temporarily slowing, but the weak sentiment remained unchanged. Metal plants turned more conservative in purchasing, with actual deals mostly concluded at the low end of the range. Gadolinium oxide prices remained at 190,000-192,000 yuan/mt, with both supply and demand appearing calm, and suppliers mainly holding prices steady while waiting on the sidelines. Holmium oxide prices adjusted to 647,000-653,000 yuan/mt, with the holmium segment clearly strengthening and oxide gains leading the market, though whether transactions can follow through remains to be seen. Erbium oxide prices were further raised to 690,000-705,000 yuan/mt, with quote centers continuing to move higher. Suppliers offered limited shipments, and downstream buyers purchased on an as-needed basis. Yttrium oxide (5N) was at 58,000-60,000 yuan/mt, and yttrium oxide (3N) at 28,000-30,000 yuan/mt, with demand mediocre and actual orders insufficient, leaving prices lacking upward support.