Latest news with #exportrestrictions
News.com.au
a day ago
- Business
- News.com.au
Aussie explorers race to capitalise on tungsten price rally
China's export limits on key minerals have stirred volatility in the market, with tungsten also feeling the impact Prices jumped to $400/mtu, an 18% rise since February These explorers are looking to capitalise on the positive market dynamics China's export restrictions over critical minerals have affected prices across the board and tungsten is no exception, with European prices surging to their highest level in over a decade last month. The cost of ammonium paratungstate (APT) – a crucial intermediate in tungsten production – climbed to $400/mtu, reflecting an 18% rise since February in the wake of the quota cuts. Four other metals, including indium, tellurium, molybdenum and ruthenium were also targeted. China's move, made in response to US tariffs, heightened fears around global supply chains, especially as China already leads production of all five restricted metals and controls around 80% of the tungsten market. Commercial and industrial uses of tungsten Due to its industrial significance and susceptibility to supply chain interruptions, tungsten – a heavy, hard, greyish-white metal – has been classified as a 'critical mineral' by the US, UK, and European Union. Its high melting point, hardness and density make it suitable for various applications including electronics, semiconductors, solar cells and batteries but its most critical application lies in its use for high-speed munitions and as protective casing in nuclear weapons. It also serves as a hardening agent in steel and is essential in producing high-temperature-resistant superalloys, which are vital for turbine blades in jet engines and power engines. Analysts are now predicting higher tungsten prices in the short term, driven by mounting supply concerns and the pressing need to establish alternative mining operations beyond China. The case for tungsten on the ASX and in Australia Australia holds 11% of the world's tungsten resources, according to the US Geological Survey, ranking second globally behind China. Tungsten has been found in every Australian state except Victoria and South Australia, but output remains small. Almonty Industries (ASX:AII) stands as the leading ASX-listed tungsten player, with steady production at its Panasqueira mine in Portugal and a flagship development underway at Sangdong in South Korea's Gangwon province. Q1 saw the company deliver 81,400 tonnes of tungsten – and now, with Sangdong entering the last pre-production phase, production is about to hit full throttle. But the largest tungsten producer in Australia is EQ Resources (ASX:EQR), which owns the Mt Carbine mine in Far North Queensland. With operations expanding aggressively, EQR more than doubled output in 2023 and is pushing toward a production rate of 450,000tpm by late 2025, unlocking the premium high-grade ore contained within the Iolanthe ore system through the final pre-strip. The hunt for tungsten Australia may not rival China in tungsten production, but a growing number of exploration companies are actively searching for new deposits. Tungsten Mining (ASX:TGN) continues to advance its position in the sector, eyeing near-term production opportunities at the Hatches Creek project in the Northern Territory. It also owns the Mt Mulgine asset in WA, which contains 259Mt of ore at 0.11% tungsten oxide. A recent maiden resource estimate for separate tungsten trioxide and copper domains at Hatches Creek was recently reported, further strengthening the project's inventory. A tungsten domain resource of 12Mt grading 0.17% tungsten trioxide and 0.12% copper was defined, along with a separate copper domain of 6.1Mt at 0.29% copper. The project area hosts extensive remnants of past mining – such as waste dumps, shafts, tailings, and a battery site at Pioneer – following historical production of ~2840t of 65% WO3, as well as bismuth and copper concentrates. The near-term developer is considering a phased approach to developing Hatches Creek, beginning with processing legacy stockpiled material before advancing to open-pit extraction across the project area. TGN chairman Gary Lyons said the maiden JORC resource represents a major step towards the company achieving its objective of rapid evaluation and development of Hatches Creek. 'The results were well beyond target in both scale and grade of tungsten and copper,' he said. 'Drilling has defined 20,900 tonnes of WO3 and 32,100t of copper at a time of strengthening critical metal prices.' GWR Group (ASX:GWR) owns a stake in TGN with a market value of $15.98m and maintains a strong view on the tungsten price noting the recently announced Chinese export restrictions on the metal. Elementos (ASX:ELT) meanwhile operates the Cleveland tin project, southwest of Birnie, Tasmania where recent drilling has confirmed a large zone of tungsten mineralisation as well as suite of supporting critical minerals below the tin and copper resources.
South China Morning Post
3 days ago
- Business
- South China Morning Post
Tech war: US chip design software firm Synopsys halts China sales
Semiconductor design software firm Synopsys has told staff in China to halt services and sales in the country and stop taking new orders to comply with new US export restrictions, according to an internal letter reviewed by Reuters. Advertisement The US had ordered a broad swathe of companies to stop shipping goods to China without a licence and revoked licences already granted to certain suppliers, Reuters reported on Wednesday, citing people familiar with the matter. Products affected include design software and chemicals for semiconductors, they said. Synopsys on Thursday suspended its annual and quarterly forecasts after it received a letter from the Bureau of Industry and Security of the US Department of Commerce, informing it of new export restrictions related to China. The internal letter sent to staff in China on Friday said 'based on our initial interpretation, these new restrictions broadly prohibit the sales of our products and services in China and are effective as of May 29, 2025'. Advertisement To ensure compliance, Synopsys said it was blocking sales and fulfilment in China and halting new orders until it received further clarification.
Free Malaysia Today
4 days ago
- Business
- Free Malaysia Today
Synopsys halts China sales due to US export restrictions
To ensure compliance, Synopsys said it is blocking sales and fulfillment in China and halting new orders until it receives further clarification. (Getty Images pic) BEIJING : Semiconductor design software firm Synopsys has told staff in China to halt services and sales in the country and stop taking new orders to comply with new US export restrictions, according to an internal letter reviewed by Reuters. The US has ordered a broad swathe of companies to stop shipping goods to China without a license and revoked licenses already granted to certain suppliers, Reuters reported on Wednesday, citing people familiar with the matter. 'Products affected include design software and chemicals for semiconductors,' they said. Yesterday, Synopsys suspended its annual and quarterly forecasts after it received a letter from the bureau of industry and security of the US department of commerce, informing it of new export restrictions related to China. The internal letter sent to staff in China today said, 'based on our initial interpretation, these new restrictions broadly prohibit the sales of our products and services in China and are effective as of May 29, 2025'. To ensure compliance, Synopsys said it was blocking sales and fulfillment in China and halting new orders until it receives further clarification. 'The measures affect all customers in China, including employees of global customers working at sites in China and Chinese military users wherever they are located,' the letter added. The steps Synopsys is taking in light of the new restrictions have not been previously reported. Synopsys declined to comment. Alongside Cadence and Siemens EDA, Synopsys is among the top three companies that dominate electronic design automation (EDA) software that chipmakers can use to design semiconductors used in everything from smartphones to computers and cars. Restricting Chinese firms' access to EDA tools would be a big blow to the industry as Chinese chip design customers heavily rely on top-of-the-line US software. Synopsys, Cadence and Siemens's Mentor Graphics control more than 70% of China's EDA market, Chinese state news agency Xinhua reported in April. Chinese companies that have said they use Synopsys and Cadence software include design firm Brite Semiconductor, Zhuhai Jieli and semiconductor IP portfolio provider VeriSilicon. The letter sent to staff in China today also said that Chinese customers' access to its customer support portal SolvNetPlus had been disabled.
Yahoo
4 days ago
- Business
- Yahoo
Exclusive-Synopsys halts China sales due to US export restrictions, internal memo shows
By Liam Mo and Brenda Goh BEIJING (Reuters) -Semiconductor design software firm Synopsys has told staff in China to halt services and sales in the country and stop taking new orders to comply with new U.S. export restrictions, according to an internal letter reviewed by Reuters. The U.S. has ordered a broad swathe of companies to stop shipping goods to China without a license and revoked licenses already granted to certain suppliers, Reuters reported on Wednesday, citing people familiar with the matter. Products affected include design software and chemicals for semiconductors, they said. Synopsys on Thursday suspended its annual and quarterly forecasts after it received a letter from the Bureau of Industry and Security of the U.S. Department of Commerce, informing it of new export restrictions related to China. The internal letter sent to staff in China on Friday said "based on our initial interpretation, these new restrictions broadly prohibit the sales of our products and services in China and are effective as of May 29, 2025." To ensure compliance, Synopsys said it was blocking sales and fulfillment in China and halting new orders until it receives further clarification. The measures affect all customers in China, including employees of global customers working at sites in China and Chinese military users wherever they are located, the letter added. The steps Synopsys is taking in light of the new restrictions have not been previously reported. Synopsys did not immediately reply to a request for comment. Alongside Cadence and Siemens EDA, Synopsys is among the top three companies that dominate electronic design automation (EDA) software that chipmakers can use to design semiconductors used in everything from smartphones to computers and cars. Restricting Chinese firms' access to EDA tools would be a big blow to the industry as Chinese chip design customers heavily rely on top-of-the-line U.S. software. Synopsys, Cadence and Siemens's Mentor Graphics control more than 70% of China's EDA market, Chinese state news agency Xinhua reported in April. Chinese companies that have said they use Synopsys and Cadence software include design firm Brite Semiconductor, Zhuhai Jieli and semiconductor IP portfolio provider VeriSilicon. The letter sent to staff in China on Friday also said that Chinese customers' access to its customer support portal SolvNetPlus had been disabled.
Reuters
4 days ago
- Business
- Reuters
Exclusive: Synopsys halts China sales due to US export restrictions, internal memo shows
BEIJING, May 30 (Reuters) - Semiconductor design software firm Synopsys (SNPS.O), opens new tab has told staff in China to halt services and sales in the country and stop taking new orders to comply with new U.S. export restrictions, according to an internal letter reviewed by Reuters. The U.S. has ordered a broad swathe of companies to stop shipping goods to China without a license and revoked licenses already granted to certain suppliers, Reuters reported on Wednesday, citing people familiar with the matter. Products affected include design software and chemicals for semiconductors, they said. Synopsys on Thursday suspended its annual and quarterly forecasts after it received a letter from the Bureau of Industry and Security of the U.S. Department of Commerce, informing it of new export restrictions related to China. The internal letter sent to staff in China on Friday said "based on our initial interpretation, these new restrictions broadly prohibit the sales of our products and services in China and are effective as of May 29, 2025." To ensure compliance, Synopsys said it was blocking sales and fulfillment in China and halting new orders until it receives further clarification. The measures affect all customers in China, including employees of global customers working at sites in China and Chinese military users wherever they are located, the letter added. The steps Synopsys is taking in light of the new restrictions have not been previously reported. Synopsys did not immediately reply to a request for comment. Alongside Cadence (CDNS.O), opens new tab and Siemens EDA, Synopsys is among the top three companies that dominate electronic design automation (EDA) software that chipmakers can use to design semiconductors used in everything from smartphones to computers and cars. Restricting Chinese firms' access to EDA tools would be a big blow to the industry as Chinese chip design customers heavily rely on top-of-the-line U.S. software. Synopsys, Cadence and Siemens's Mentor Graphics control more than 70% of China's EDA market, Chinese state news agency Xinhua reported in April. Chinese companies that have said they use Synopsys and Cadence software include design firm Brite Semiconductor, Zhuhai Jieli and semiconductor IP portfolio provider VeriSilicon. The letter sent to staff in China on Friday also said that Chinese customers' access to its customer support portal SolvNetPlus had been disabled.
