Ningxia Orient Tantalum Updates on Private Placement Projects and New Subsidiary Plans

Xinjinlu Group announced in June a planned investment of RMB 496 million to implement integrated mining, dressing, and metallurgical upgrades at its Guangxi Limu Mining subsidiary. The project includes upgrading mining operations to 600,000 tons/year, constructing a 1.5 million tons/year dressing line, building a tantalum-niobium hydrometallurgical workshop, and recovering associated metals like rubidium from tailings. Upon completion, it will form a complete industrial chain for tantalum, niobium, tin, and tungsten, yielding approximately 840 tons of tantalum oxide and 867 tons of niobium oxide annually.

[SMM Magnesium Weekly Inventory Brief] This week, social inventories decreased by 3.00% month-on-month, showing a regional divergence. In major production areas, inventory reduction was more pronounced due to the progress of long-term contract deliveries and production cuts by some manufacturers. Meanwhile, Tianjin Port experienced slight inventory accumulation as low-priced resources stimulated traders' stockpiling. Overall, the inventory reduction in production areas provided some bottom support for magnesium prices, but the port inventory accumulation reflects persistent export difficulties, with short-term supply-demand imbalances still awaiting resolution.

Antimony market prices continued to weaken this week. As the second half of June sets in, overall market trading activity remains sluggish. While end-users across the board are holding inventories at very low levels, the wait-and-see attitude in procurement remains pronounced, with purchases limited to immediate needs. Certain enterprises continue to offload material, still offering price concessions, with the primary objective being to move product. As of now, SMM antimony average prices are as follows: Grade 2 low-bismuth antimony ingot at 127,500 yuan/tonne, 99.5% grade at 108,500 yuan/tonne and 99.8% grade at 117,500 yuan/tonne.