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

[SMM Flash] The Democratic Republic of Congo is strengthening state control over geological information as it develops a national databank covering critical minerals including tantalum, cobalt, copper, lithium and gold. The country’s geological survey told Reuters that systematic exploration currently covers only about 20% of the DRC, while a US$180 million airborne mapping programme with Spain’s Xcalibur is surveying more than 700,000 km². The national geological databank is expected to become fully operational by the end of 2026. Basic geological information is expected to remain freely accessible, while more sensitive datasets will be subject to controlled, fee-based access. The initiative does not change current coltan production directly, but improved geological intelligence could influence where future tantalum exploration capital is deployed and strengthen Kinshasa’s negotiating position over new discoveries. The impact on actual supply will depend on whether mapped targets proceed through exploration, financing and mine development.

[SMM Flash] Premier African Minerals has identified an estimated US$19.1 million funding requirement through December 31, 2027, as it seeks additional capital for its Zulu Lithium and Tantalum Project in Zimbabwe and other corporate obligations. The company has called a general meeting for September 23, where shareholders will vote on resolutions providing additional share-issuance authority. Premier said its available funds are limited and warned that failure to secure further financing could materially affect the Zulu project and the wider group.​ The proposed authorities include the potential issuance of up to 58.63 billion new shares to provide funding flexibility, alongside separate provisions covering creditor settlements and conversion rights. The announcement highlights continued financing pressure surrounding Zulu as Premier works to optimise operations and progress the project towards sustainable production. For the tantalum market, securing sufficient capital will be important to Zulu’s ability to develop its prospective tantalum-bearing output, although the US$19.1 million represents an estimated funding requirement rather than financing already secured.

[SMM Flash] Rwanda is seeking greater Indian investment in its critical-minerals sector, highlighting tin, tungsten and tantalum (3Ts) among potential areas for cooperation. The opportunities were presented at an investment event hosted by the High Commission of Rwanda in India in Bengaluru. Rwanda is seeking to expand domestic mineral processing and capture greater value from its resources, while India is strengthening overseas critical-mineral supply chains through initiatives including its National Critical Minerals Mission. The initiative follows the first India-Rwanda Joint Trade Committee meeting held in New Delhi on July 30–31, where critical minerals were identified as a priority area for bilateral cooperation. Potential collaboration could include geological exploration, processing, investment and supply-chain development. However, no specific tantalum mine investment, financing package or offtake agreement was announced, meaning the development currently represents investment promotion rather than committed new supply. Greater Indian participation could eventually diversify investment and downstream channels within Rwanda's 3T industry.