UK Expands Sanctions to Russia-Linked Tantalum and Niobium Supply Chains

[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.

Global chrome ore departures from major export ports totaled 691,800 mt in the week ended September 4, up 83.99% week-on-week, according to SMM's latest data. The sharp rebound follows two consecutive weeks of decline and marks the strongest weekly departure volume recorded in the current data series, with gains registered across nearly every tracked port. Maputo continued to anchor overall volumes, with departures rising to 512,100 mt from 339,200 mt, a 50.97% increase that kept the port's share of total departures above 70%. Richards Bay returned to active shipping after recording zero departures the prior week, loading 57,800 mt, while Mersin more than doubled to 84,500 mt from 36,800 mt, its strongest weekly total in recent weeks. Beira also resumed shipments after an extended period of inactivity, recording 29,500 mt, its first departures in the current data series. On balance, the broad-based pickup across Maputo, Richards Bay, Mersin, and Beira marks a shift from the more concentrated, Maputo-led flows seen over the preceding weeks toward a more synchronized recovery across the region's ports. The modest gap between combined major-port volumes and the global total, roughly 7,900 mt, reflects smaller contributions from non-major loading points.

As of September 4, 2026, China's total chrome ore inventory at ports stood at 5.219 million mt, up 191,000 mt (+3.80%) from 5.028 million mt on August 28. Tianjin Port, China's dominant chrome ore hub, held 4.5737 million mt, up 186,900 mt (+4.26%) week-on-week, accounting for 87.6% of the national total, up from 87.3% the prior week. The remaining ports collectively held just 645,300 mt (+42,000 mt, +0.66% WoW), essentially flat. Almost the entirety of this week's national inventory build was therefore concentrated at Tianjin, reaffirming its role as the primary discharge and warehousing hub for seaborne ore serving Inner Mongolia and other northern ferrochrome smelting clusters. The build reflects a supply side that continues to outrun downstream offtake. South Africa remains the overwhelming source of China's ore, with H1 2026 imports up nearly 30% YoY and exports staying elevated as Transnet rail reforms and growing use of the Maputo corridor via Mozambique ease logistics bottlenecks that had previously capped shipment volumes. Zimbabwean supply has also surged (+44% YoY in H1), adding further to arrivals. On the demand side, ferrochrome producers have kept operating rates high even as high-carbon ferrochrome prices eased roughly 100 yuan/mt in August on oversupply and sluggish retail sales, while China's stainless steel sector, despite entering its traditional September-October peak season, is seeing mills resume post-summer-maintenance output faster than downstream orders are recovering, with July stainless exports down 13.2% MoM. With ore arrivals holding firm and consumption growth lagging, port stocks, concentrated at Tianjin, look set to stay well-supplied into the Mid-Autumn Festival and National Day holiday period.