Elissa Resources Ltd. reports that it has increased its land holdings in the vicinity of its Thor heavy and light rare earth (REE) project. The Thor project is located in the eastern Mojave Desert region of Nevada, 47 miles (76 km) south of Las Vegas and 16 miles (28km) east of Molycorp Minerals’ Mountain Pass REE mine and processing facility in the neighbouring state of California.
Elissa Resources Mining News
This is what happens when you corner a market the way China has done with rare earth elements: Statistics collected in Hong Kong show exports of rare earth metals have shrunk by half over the past year. Over the same period, the value of these exports jumped 10-fold. It’s hard to argue with these kinds of numbers. After the stocks prices of the few big players pulled back from recent highs investors saw it not as evidence of sobriety returning to the market, but simply as a buying opportunity.