Offers of Minor Metals in Europe (2017-10-31）

[SMM Titanium Flash] Kenmare Resources announced that Mozambique had approved renewal of key processing and export rights under Moma’s Implementation Agreement until 2044. The Council of Ministers adopted its resolution on 13 October and Kenmare received official notification on 29 October. The revised terms raise the royalty on gross revenues from 1% to 3% for 2025–2029, 4% for 2030–2034 and 5% for 2035–2044. The approval provides greater visibility over the operating framework for a major African titanium feedstock exporter, while increasing its royalty burden and investment commitments. Kenmare’s processing subsidiary undertakes to invest at least US$200 million in plant, machinery and infrastructure over the extension period. An agreement addendum still requires signing, followed by administrative procedures involving Mozambique’s Administrative Court. The announcement concerns processing and exports; mining is governed separately, and the renewal does not itself establish additional titanium output.

[Silicone market supply stable in October with subdued trading; industry performance weaker than last year] According to an SMM survey, China's silicone market in October showed a trend of "consolidating at highs early on, then holding quotes steady later," with spot transactions mostly at discounts. Downstream buyers only maintained essential restocking, lacking large-volume order releases. On a MoM and YoY basis, production edged up just 0.48% MoM, and the operating rate rose slightly by 0.11 percentage points MoM, keeping overall supply largely stable. However, on a YoY basis, they fell 10.39% and 6.93 percentage points respectively, leaving industry performance notably weaker than the same period last year.