Skyharbour Resources has signed a non-binding letter of intent (LoI) with Purecore Metals regarding a potential option for up to a 100% interest in the Yurchison uranium property in northern Saskatchewan, Canada. The project comprises 22 claims covering approximately 35,029 hectares and is located about 75 km south of Cameco’s Rabbit Lake operation. Historical exploration returned uranium grades ranging from 0.09% to 0.30% U3O8 and molybdenum values of 2,500–6,400 ppm from surface samples. In addition to uranium, the geological setting is considered prospective for copper, zinc and molybdenum mineralisation. However, no defined zinc resource or recent zinc-focused drilling results have been reported. The proposed transaction remains subject to due diligence, definitive agreements, board approvals and regulatory clearances.

[Molybdenum Flash] SMM July 16: Due to the recent continuous price increase of ferromolybdenum, combined with the current die steel production cost situation, and in order to ensure stable supply, Jiangsu Tiangong Aihe plans to raise prices for contract orders (including spot cargo) received from 00:00 on July 20, 2026, by 800 yuan/mt for each 1% Mo content in the steel grade, based on the June 30 price.

[Molybdenum Express] SMM July 16: Recently, several stainless steel enterprises in China have started mass production of products such as the low-molybdenum duplex stainless steel S32304. In terms of cost, compared with 316L and 2205, S32304 significantly reduces the usage of molybdenum and nickel alloys, meeting the demand for reducing molybdenum content and lowering costs under current high raw material prices. By relying on a high-chromium and high-nitrogen composition, it achieves chloride corrosion resistance equivalent to that of 316L, and its yield strength is nearly twice that of ordinary austenitic stainless steel, enabling thinner and lighter equipment sheets and plates and reducing total material usage. Additionally, it offers excellent resistance to stress corrosion and fatigue, along with stable welding performance, making it suitable for end-use industries such as water treatment, municipal environmental protection, and general chemical equipment.

[SMM Molybdenum Analysis: Mainstream Mine Auction Prices Advanced Firmly, Molybdenum Market Advanced Firmly] SMM, July 15: Today, mainstream mines in China launched open auctions for molybdenum concentrates, with all rounds fully transacted at premiums. Futures prices rose steadily, with standout trading performance, breaking the traditional off-season weakness and showing a typical pattern of strong rally amid off-season and tight spot cargo supply.

[Molybdenum Flash] SMM, July 14: A molybdenum concentrate mine in Henan plans to sell 810 mt of molybdenum concentrates via an online tender on July 15, with a reserve price of 5,260 yuan/mtu (cash), raising the reserve price by 200 yuan/mtu from the June 16 tender.

Amerigo Resources reported Q2 copper production of 16.9 million pounds and molybdenum production of 0.4 million pounds from its Minera Valle Central tailings operation in Chile, with 99% plant availability. H1 copper output reached 31.2 million pounds, representing 49% of full-year guidance, while normalized cash cost tracked below guidance.

SMM Morning Meeting Minutes: Overnight, LME copper opened at $13,445/mt, drifted higher in early trading to touch a high of $13,571/mt, then slightly fell to $13,474/mt before closing at $13,479/mt, down 0.04%. Trading volume was 21,000 lots, and open interest stood at 247,000 lots, down 172 lots from the previous trading day, indicating a reduction in long positions. Overnight, the most-traded SHFE copper 2608 contract opened at 103,910 yuan/mt, initially rose slightly to 104,290 yuan/mt, then drifted lower to touch a low of 103,610 yuan/mt before closing at 103,700 yuan/mt, up 0.58%. Trading volume reached 36,000 lots, and open interest was 143,000 lots, up 768 lots from the previous trading day, indicating an increase in long positions.

[Molybdenum Express] SMM July 13 News: The tender price for ferromolybdenum from a steel mill in Fujian was set at 328,500 yuan/mt, cash payment, with quantity to be confirmed. The tender price for ferromolybdenum from a steel mill in Shanxi was 329,000 yuan/mt (acceptance), quantity 30 mt.

In H1 2026, the tungsten market was largely driven by supply-side dynamics, experiencing a complete cycle of sharp rises and falls before finally retreating from highs to close the half-year. Entering H2, the annual tungsten ore mining quotas have been fully implemented, monthly mine output has stabilized, and there is no significant room for further production cuts or new volume increases.

Amerigo Resources declared a C$0.18 per share performance dividend, its largest to date. The company produces copper concentrate and molybdenum concentrate by processing fresh and historic tailings from Codelco’s El Teniente mine through Minera Valle Central in Chile. The update highlights the commercial value of copper tailings reprocessing under strong copper prices.