Long-Term Contract Prices Raised in the First Half of March by a Tungsten Company in Guangdong

[SMM Tungsten Express] US Antimony released a resource estimate for its Fostung tungsten project in Ontario. SRK Consulting reported an inferred resource of 14.62 million tonnes grading 0.17% WO₃, containing 53.6 million lbs of tungsten metal, valued at approximately $4.6 billion at current prices. The company plans to fast-track the project as the next North American tungsten producer and has applied for U.S. Defense Production Act funding. Neither the U.S. nor Canada has produced tungsten concentrates since 2016.

[SMM Magnesium Express] West High Yield Resources' Record Ridge magnesium project in BC faces strong local opposition after receiving provincial approval. The deposit hosts over 10.8Mt of high-grade magnesium but sits adjacent to Red Mountain resort and world-class bike trails. Opponents fear asbestos-laden dust threatens the C$40M annual tourism economy and resident health. The company plans to ship ore via U.S. ports to China for processing, with no plans to return refined product to Canada, raising questions about critical minerals supply chain benefits. Legal challenges are underway.

[SMM Magnesium Express] Researchers at Japan's University of Tsukuba have developed an all-solid-state magnesium-air rechargeable battery featuring a nitrogen-doped porous graphene cathode. This design replaces platinum-based cathodes and uses a magnesium chloride-based solid polymer electrolyte, successfully addressing chloride-induced degradation that previously limited this technology. The battery maintains performance even when bent to 120 degrees, offering high energy density with enhanced safety, opening new pathways for magnesium in next-generation, low-cost energy storage systems.