Vietnam Proposes Allowing Exports of Deep-Processed Tungsten Products Only

Lundin Mining Corporation reported third-quarter 2026 molybdenum production of 130 tonnes at the Caserones mine on a 100% mine basis. SMM calculations indicate declines of 65.6% quarter on quarter and 77.4% year on year. January–September output fell 29.5% to 1,097 tonnes. Molybdenum grade remained unchanged from the second quarter at 0.017%, but ore milled dropped 46.9% to 4.45 million tonnes. Two severe winter storms caused prolonged power outages and suspended operations for approximately 30 days in total. Lundin did not provide separate revised molybdenum guidance.

Freeport-McMoRan Inc.’s board has approved a US$4.5 billion expansion and modernization program for its wholly owned Bagdad copper-molybdenum mine in the United States. Annual molybdenum production is expected to exceed 20 million lb (about 9,072 tonnes), including approximately 12 million lb (about 5,443 tonnes) of incremental output. Mining and milling rates will more than double, supported by 115,000 tonnes per day of new concentrator capacity. Construction is expected to take about 3.5 years, with initial production targeted for mid-2030. The approval advances the project from evaluation into development, but does not add to current supply.

[ Tungsten Flash ] SMM, November 5: A tungsten enterprise in Chongyi announced its long-term contract prices for the first half of November, with 55% wolframite concentrates at 375,000 yuan/standard tonne (65%WO3 basis), 55% scheelite concentrates at 374,000 yuan/standard tonne (65%WO3 basis), and ore-side long-term contract prices raised by 31,000 yuan/standard tonne (65%WO3 basis) from the second half of October. APT (national standard zero grade): 550,000 yuan/mt, up 50,000 yuan/mt from the second half of October. Note: All prices above include 13% VAT.