October 21 SMM rare earth spot price: praseodymium oxide down 7500 yuan / ton

[SMM Express] Rubaya mining area in North Kivu of the Democratic Republic of Congo (DRC), remains one of the world’s most important sources of coltan, but its strategic importance is matched by significant supply-chain risks. The site has been under the control of the M23 armed group since 2024, with mineral revenues reportedly contributing to the financing of the conflict. Rubaya is estimated to account for a significant share of global coltan supply, making developments there relevant to the wider tantalum market. The situation also highlights the difference between coltan and cobalt risks in the DRC. While cobalt production is concentrated in the southern Copperbelt and is increasingly subject to formalisation and traceability initiatives, coltan from eastern DRC faces a more direct conflict-financing and territorial-control risk. Cross-border movement of minerals through Rwanda has further complicated origin verification and supply-chain due diligence. For buyers, traders and investors, the key issue is therefore not simply whether material comes from the DRC, but where it was mined and who controls the supply chain at the point of extraction. With Rubaya remaining strategically important to global tantalum supply, verified origin, chain-of-custody controls and conflict-risk due diligence will remain critical when sourcing coltan from the region.

[SMM Express] The UK has introduced sanctions targeting Russian companies involved in the import of tantalum and niobium, alongside broader measures aimed at disrupting supply chains supporting Russia’s defence sector. The move reflects growing government attention to the role of strategic metals in the production of advanced military equipment, including missiles, drones and other weapons. The sanctions could increase scrutiny of Russian-linked tantalum and niobium trade flows, potentially contributing to further supply-chain fragmentation and greater demand for alternative sources. The development nevertheless reinforces the growing relationship between critical minerals, trade policy and geopolitical security.