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To add to their restrictions on export of graphite, germanium, gallium and antimony the Chinese are considering restrictions on various components and technologies in the lithium battery sphere. CUSN has a small exposure to Lithium via Cornish Lithium plc. Need for resilience is coming centre stage.

David Roberts

Not only has funding to be found to pay for the new kit required, but millions more to pay for sound proofing so one or two properties a mile or so away are not disturbed by low frequency noise. Because the Environment Agency (EA) took so long to decide what should be done, the company burnt through the available cash, just at a time when massive inflation hit the prices of steel concrete etc. .

The inability of the (under-resourced) EA to respond on a timely basis, has put the renewal of a key strategic asset at risk.

And if you think the UK Wealth fund - formerly the UKIB-may help this prized national asset, consider what happened to the founding shareholders in Cornish Lithium, when the UKIB provided funding there. Unless the UKIB has changed its ways, their involvement will not necessarily be good news.

Have a look at the trades. There are some larger ones eg 100,000 which are marked as unknown, i.e. they are not identified as a buy or a sell. Reporting of them has been delayed. If you look at the time they were transacted and then go back through the list of trades to that time, you will see what the spread was when the transaction took place, which is different to the spread at the time reported. The spreads seem to be lower at the time of transaction and because mostly the price paid is above the middle of the spread indicates these are probably buys. My conclusion: some stealthy buying.

Hi MO I hope it is a better day today?

If I remembercorrectly you liked Vulcan. They seeem to be progressing v well

https://v-er.eu/app/uploads/2024/12/Corporate-Presentation-Q4-2024.pdf

Interesting to hear of the $1bn going into expansion of Bolivian lithium production.

Reuters are reporting (see below) the introduction of a ban on exporting certain materials from China effective today. Amongst them are super-hard materials. I guess that may include Tungsten.

"In principle, the export of gallium, germanium, antimony, and superhard materials to the United States shall not be permitted," the ministry said.

The curbs strengthen enforcement of existing limits on exports of the critical minerals that Beijing began rolling out last year, but apply only to the U.S., in the latest escalation of trade tensions between the world's two largest economies ahead of President-elect Donald Trump taking office.

The importance of Hemerdon is rocketing.

Hi Lovelyboy.

Linked in seems to have a problem with security.... Any chance of you pasteing the article here? Thanks

Https://www.bgs.ac.uk/news/uk-2024-criticality-assessment/

Https://www.bgs.ac.uk/news/uk-2024-criticality-assessment/

I was interested to read this in the latest SML RNS.............

"Policy changes in the US, including usage restrictions in defence applications, manufacturing, and end-use components for Chinese-sourced tungsten, as well as recently announced import tariffs for Chinese-sourced tungsten, have created an increased focus in the US on securing "domestic" sourcing of critical and strategic minerals. Under US legislation the UK, alongside Canada and Australia, are designated as Domestic for the supply of critical minerals"

TUN's has applied for funding from the US. I wonder if CUSN will too?

and CUSN recently had a visit from Rachael Parrish ( US Department of State)

and here is a link to her background

https://2017-2021.state.gov/for-this-foreign-service-officer-preventing-international-conflict-is-personal-reflections-during-asian-american-and-pacific-islander-heritage-month/

I was interested to read this in the latest SML RNS.............

"Policy changes in the US, including usage restrictions in defence applications, manufacturing, and end-use components for Chinese-sourced tungsten, as well as recently announced import tariffs for Chinese-sourced tungsten, have created an increased focus in the US on securing "domestic" sourcing of critical and strategic minerals. Under US legislation the UK, alongside Canada and Australia, are designated as Domestic for the supply of critical minerals.

We await news of TUN's application for funding from the US. Looks promising/hopeful ......................

Https://www.miningvisuals.com/post/copper-demand-in-2050

MO Again - very sorry to hear of your plight. Did you have a covid vaccination?

Some people say long covid fades with time. I certainly hope you get rid of it soon.

What does your doc say about a having jab now?

If anybody needed reminding about the vulnerability of the West to restrictions by the Chinese of exports of critical metals, we have one reminder written large this morning. Antimony was recently added to China's list of controlled materials - following Gallium and Germanium. If I remember correctly the restrictions on Antimony start on 1/12/24. The price today is reported to have doubled with antimony trioxide prices in the US rising to $37,500/t from $18,300/t.

And look what it is used to make - see below.

-----------------------------------------

Antimony is a strategic critical mineral that is used in all manner of military applications, including the manufacture of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear weapons and production, tritium production, flares, military clothing, and communication equipment. It is the key element in the creation of tungsten steel and the hardening of lead bullets, two of its most crucial applications during WWII.

Source

:https://www.forbes.com/sites/davidblackmon/2021/05/06/antimony-the-most-important-mineral-you-never-heard-of/

In my opinion this will bring pressure to bear on Western Governments to build alternative supply chains for all the metals on the critical metals list - tin being one of the most sensitive.

Dear MO

So sorry to hear of your huge difficulties. I am sure I am not alone in wishing you a complete recovery.

Thanks for making the effort to let us know how you are and the warning you gave.

Best wishes Vii

David Roberts - agreed..............

And now its the turn of uranium.

https://www.telegraph.co.uk/business/2024/11/19/how-putin-using-uranium-threaten-western-energy-supply/

Gingy, please disagree if you like, but in my view it is a key factor in obtaining govt (US or UK) funding. The news makes funding more likely, so is positive for the shares.

David Roberts - Thanks for the numbers. I expect the Chinese import figures will be lower for 2024 due to supply constraints - which makes Chinese export restrictions more likely

More Chinese restrictions are coming in on December 1st 2024. Widening out the scope of them from Gallium and Germanium which were previously announced

On 16 November 2024 Nikkei Asia ("Nikkei"), a Japan headquartered news company which is the sister company of the Financial Times, reported that, 'China plans to tighten export controls on key "dual-use" technologies and items in two weeks, including raw materials and metals such as tungsten, graphite, magnesium and aluminium alloys used commonly in tech supply chains.' Nikkei was also the news source to first publish the news regarding the antimony export restrictions in August 2024.

The original news source can be viewed at the link below:

https://asia.nikkei.com/Spotlight/Supply-Chain/China-to-tighten-export-curbs-on-critical-metals-ahead-of-Trump-s-return.

More Chinese restrictions are coming in on December 1st 2024. Widening out the scope of them from Gallium and Germanium which were previously announced

On 16 November 2024 Nikkei Asia ("Nikkei"), a Japan headquartered news company which is the sister company of the Financial Times, reported that, 'China plans to tighten export controls on key "dual-use" technologies and items in two weeks, including raw materials and metals such as tungsten, graphite, magnesium and aluminium alloys used commonly in tech supply chains.' Nikkei was also the news source to first publish the news regarding the antimony export restrictions in August 2024.

It is not clear to me whether tin will be included on Dec 1st.

The original news source can be viewed at the link below:

https://asia.nikkei.com/Spotlight/Supply-Chain/China-to-tighten-export-curbs-on-critical-metals-ahead-of-Trump-s-return.

M.O How are you?