Venezuela's ruling party-controlled National Assembly on Thursday approved a mining bill expected to open the sector to private and overseas investment, after the US eased restrictions on the country to stimulate external capital investment in its struggling economy.The bill repealed the 1999 and 2015 mining regulations, allowing domestic, overseas, and state-owned and private companies or consortia to mine gold and "strategic minerals." The maximum term for concessions is 30 years, but can be extended by up to two 10-year periods.Under the bill, mineral resources remain state property, disputes can be resolved through arbitration, and a royalty tax of 13% of the total value of minerals is levie.

Recently, Joint Circular No. 00156 of the Ministry of Finance and the Ministry of Mines of the DRC / Cabinet of the Ministry of Mines / 2026 and Cabinet of the Ministry of Finance / 2026, concerning regulatory measures to standardize control over deviations in the detection of refined cobalt content in exported cobalt hydroxide under the quota system framework of the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets in the DRC, is translated as follows: The English translation of the above text is:

At the 2025 Indonesia Mining Conference & Critical Metals Conference - 2025 Southeast Asia Tin Industry Conference, hosted by SMM Information & Technology Co., Ltd. (SMM), supported by the Indonesian Ministry of Foreign Affairs as a government supporter, and co-organized by the Association of Indonesia Nickel Miners (APNI), the Jakarta Futures Exchange, and China Coal Resource, Mamoko Egyul, a smelting expert from the Coordination and Technical Department for Mining Planning (CTCPM) of the DRC Ministry of Mines, delivered a presentation on the current status and development prospects of the African tin ore market, using the Democratic Republic of the Congo (DRC) as a case study. He introduced the geographical location and administrative situation of the DRC. The Democratic Republic of the Congo is abbreviated as DRC. Geology and Mineralogy ► Geology He elaborated on the types of tin deposits worldwide: Notable tin deposits in Africa include: Pegmatite-type deposits: Manono (DRC), Bikita (Zimbabwe), and Uis (Namibia); Vein-type deposits: Jos (Nigeria); ► Placer deposits: Maniema Province, North Kivu Province (Bisié), and South Kivu Province (DRC). In placer deposits, cassiterite is concentrated through gravitational forces, often accompanied by tungsten ore (wolframite) and other common heavy minerals (tantalite). ► Mineralogy Tin primarily exists in nature as **cassiterite (SnO₂)**. Other minerals are of lower economic significance, ranked as follows: Cassiterite (SnO₂): 78.7% tin content; Teallite (PbSnS₂): 30%; Stannite (Cu₂FeSnS₄): 27.6%; Cylindrite (Pb₃Sn₄Sb₂S₁₄): 24.8%, etc. Tin Industry and Its By-products Currently known mineral resources: 80 million mt of cassiterite, 30 million mt of tantalum-niobium ore, and 4 million mt of tungsten ore. 2024 Production: 43,000 mt of cassiterite, 2,900 mt of tantalum-niobium ore, and 337 mt of tungsten ore. 2024 DRC Mineral Statistics 2024 Industrial Exports of Tin Ore (mt) He also elaborated on the 2024 artisanal cassiterite exports by province in the DRC, the 2024 artisanal tin concentrate exports by province in the DRC, the total 2024 cassiterite exports, the total 2024 artisanal tantalum-niobium ore exports, the distribution of 2024 artisanal tantalum-niobium ore exports, the 2024 tungsten ore exports, and the 2024 artisanal tungsten ore exports. Changes in Tin Ore Exports from 2020 to 2024 (mt) Changes in Tantalum-Niobium Ore Exports from 2020 to 2024 (mt) Changes in Tungsten Ore Exports from 2020 to 2024 (mt) Legal and Regulatory Framework for the Mining Industry in the DRC The mining industry in the DRC is governed by the Mining Code and the Mining Regulations. This framework is attractive and incentivizing, with the following characteristics in particular: Favorable tax, customs, and foreign exchange regimes; swift, transparent, and objective procedures for granting mining and/or quarrying rights; Consideration of issues related to environmental protection and the well-being of communities surrounding mining projects; Alignment with international standards for transparency and accountability. Development and Prospects of Tin in the DRC Currently, the DRC exports tin in the form of concentrate or intermediate products. This situation is not conducive to maximizing mining revenues and enhancing the added value of marketable mineral products in the country. Therefore, CTCPM (Congo Technical Center for Mineral Research and Planning), the research, design, and planning institution for mining activities in the DRC, proposes the following actions for the future: • Sign a memorandum of cooperation with SMM on matters such as the use of SMM prices; • Promote partnerships between the state-owned company SAKIMA and leading global tin ore mining enterprises; • Conduct capacity-building training for CTCPM officials on the entire process of the tin industry chain. Conclusion Indeed, the eastern part of the Democratic Republic of the Congo is currently facing an unjust war due to its abundant mineral resources. Currently, discussions are underway on how to help restore stability in the eastern part of the DRC. 》Click to view the special report on the 2025 Indonesia Mining Conference & Critical Metals Conference

[SMM Commentary: Policy Support and Major Plant Bidding Drive Pr-Nd Oxide to Over a One-Year High—Can Rare Earths Continue to Rise?] Driven by favorable policies and supported by substantial bidding volumes and prices from major magnet material plants, suppliers were reluctant to sell at low prices. The spot price of Pr-Nd oxide has risen for two consecutive trading days, with the current average price reaching 450,000 yuan/mt. This average price marks its highest level since December 28, 2023. After hitting a new high in over a year, how will the rare earth market perform in the future?

[Blue Whale Materials Announces Strategic Partnership With Call2Recycle to Advance Lithium-Ion Battery Recycling in North America] Blue Whale Materials (BWM), a leader in lithium-ion battery recycling, recently announced a strategic partnership with Call2Recycle, North America's leading battery management organization. Through this collaboration, BWM's advanced sorting and recycling facility in Oklahoma will receive and process scrap batteries collected by Call2Recycle's nationwide network, which gathers used batteries across the US. This partnership will play a critical role in meeting domestic demand for battery materials and marks an important step in North America's battery recycling efforts. The two organizations will work together to ensure a stable supply of scrap lithium-ion battery raw materials for BWM's advanced recycling facility. Call2Recycle As a trusted battery collection manager for over 30 years, Call2Recycle has now partnered with BWM as a sorting and processing collaborator, integrating its nationwide collection network into the partnership. BWM's proprietary process transforms these collected batteries into Blacksand, a high-quality black mass essential for refineries and battery materials manufacturers. The facility is already operational for sorting and testing and is expected to begin processing by mid-2025. “ This partnership enables Blue Whale Materials to support Call2Recycle's unparalleled collection network and expand our capacity to meet the growing demand for responsible lithium-ion battery recycling,” said Robert Kang, co-founder and CEO of Blue Whale Materials. “By collaborating with North America's leading battery collection organization, we ensure that BWM secures the raw materials needed to achieve its long-term mission of supporting a sustainable and safe battery supply chain.” “ Our partnership with Blue Whale Materials was a natural choice,” added Leo Raudys, CEO of Call2Recycle. “With BWM's cutting-edge technology and our extensive collection reach, we will bring a significant leap forward in battery recycling. Together, we will reduce waste and recover valuable materials for future use.” Source: SMM, compiled from public information [ Paraguay Takes a Major Step Toward Becoming a Lithium Mining Powerhouse ] Canadian mining company Chaco Minerals is conducting exploration in Paraguay's Chaco region, aiming to leverage the area's rich lithium mining potential to further expand the so-called "Lithium Triangle." Mauricio Bejarano, Paraguay's Deputy Minister of Mining and Energy, stated that lithium from Bolivia's Uyuni Salt Flats has penetrated into Paraguay's groundwater, providing a unique advantage for lithium mine development in the Chaco region. Currently, the Lithium Triangle spans Argentina, Chile, and Bolivia, and is estimated to hold 56% of the world's lithium resources. Chaco Minerals and its partners, including Minera Atenea, Guaraní Lithium, and Roca Lithium, are exploring approximately 2 million hectares of land near the borders of Paraguay, Bolivia, and Argentina. The first phase of exploration was successfully completed last year, and the second phase of geophysical studies is underway, utilizing advanced technology to detect underground mineral targets. Historically underexplored, the Chaco region boasts one of the world's highest evaporation rates and higher humidity, which may help mitigate water shortages faced by neighboring countries in lithium production. Additionally, Paraguay's mining regulations are investor-friendly, offering incentives such as a five-year tax exemption on mining operations, tax-free repatriation of mining profits, and export tax credits. Paraguay is connected to ports and other markets via waterways and will benefit from planned infrastructure, including a highway corridor and a natural gas pipeline linking Argentina and Brazil. These developments will strongly support lithium mine development. Chaco Minerals Project Manager Rodrigo Díaz stated that the second phase of exploration is expected to take 4 to 5 years and cost approximately $30 million. The third phase will involve drilling and verifying the extractable lithium quantities, requiring an estimated $60 million to $70 million. The entire project is expected to cost at least $700 million, with plans to establish a pilot plant and commence lithium mining within the next 6 to 7 years. Source: SMM, compiled from public information [Chinese Researchers Develop New-Type Lithium-Hydrogen Battery] A new study by the University of Science and Technology of China, published in the February 2025 issue of the German journal *Angewandte Chemie International Edition*, showcases a new battery chemistry using hydrogen as the anode. The researchers' lithium-hydrogen battery is expected to be a cost-effective alternative to existing chemistries, with a theoretical energy density of up to 2,825 Wh/kg. Source: SMM, compiled from public information [Eramet Completes First Lithium Carbonate Export From Salta] A company under the French Eramet Group recently announced on Thursday that it has completed its first export of lithium carbonate, a key raw material for the global energy transition, from Salta Province. Last July, in the presence of Governor Gustavo Sáenz, the company held a plant inauguration ceremony in Salta, becoming the region's first such facility and the fourth operational project in Argentina, following Fénix, Olaroz, and Cauchari-Olaroz. Source: SMM, compiled from public information [Lightning Minerals Begins Drilling at Esperança Lithium Project in Minas Gerais, Brazil] Lightning Minerals Ltd has launched a 2,000-meter drilling program at its Esperança lithium mine project in Brazil's mineral-rich Minas Gerais state. The company has targeted northeast-trending pegmatite structures for drilling, which have been confirmed to contain spodumene mineralization and align with elevated lithium levels in the soil. Lightning Minerals Ltd has engaged Energold Drilling SA, a company with extensive lithium exploration experience in Minas Gerais' Lithium Valley region, to carry out the drilling operations. While the latest drilling program at the Esperança project is underway, Lightning Minerals Ltd is also conducting ground surveys at its Caraíbas and Canabrava projects, where soil samples have revealed lithium concentrations of up to 429 ppm and 320 ppm, respectively. Additionally, the company is evaluating multiple sites in the region and plans to conduct further drilling later this year. Source: SMM, compiled from public information

[CMOC: Copper Production Up 55% YoY, Refined Cobalt Production Up 106% YoY, Slight Decline in Molybdenum Production in 2024] On the evening of January 6, CMOC announced, based on the company's preliminary calculations, the production figures for its main products in 2024: copper production was 650,000 mt (up 55% YoY); refined cobalt production was 110,000 mt (up 106% YoY); molybdenum production was 20,000 mt (down 2% YoY); tungsten production was 8,288 mt (up 4% YoY); niobium production was 10,000 mt (up 5% YoY); phosphate fertiliser production was 1.18 million mt (up 1% YoY).