China will increase a tax on rare earths from April 1, the official Xinhua News Agency said on Thursday. The State Administration of Taxation website carried a local media report, saying the resource tax would be raised to 30-60 yuan per tonne, depending on the type of rare earth mineral, a substantial increase from the current level of 0.5-3 yuan per tonne.
Rare Earth Mining News
China's exports of rare earth metals burst through the $100,000-per-tonne mark for the first time in February, up almost ninefold from a year before, while the volume of trade stayed far below historical averages. China's squeeze on rare earths, which are used in a wide range of hardware including precision-guided weapons, hybrid car batteries and iPads, has forced prices up dramatically since July last year, when each tonne fetched a mere $14,405 on average.
Canadian Orebodies Inc. (TSX-V:CO) announced assay results which demonstrate a zone of strong tantalum values over a 670 meter strike length from the initial drilling program on the Tebishogeshik showing on its Zigzag tantalum/lithium and rare metals property under option from Ultra Lithium Inc. (TSX-V:ULI). The Property is subject to an option agreement with Ultra and the underlying property owners to acquire an 80% legal and beneficial interest (subject to a 2% NSR retained by the owners, 50% of which can be purchased by Orebodies for $1 million).
CB Online says Quantum Rare Earth Developments has reported discovering a large niobium deposit in southeast Nebraska. The underground carbonatite formation has potential to become one of the world's largest sources of niobium, used in high-production steel and superalloys. Watch the interview with CEO Peter Dickie on BNN.
Australian mining company Lynas is planning to set up a refinery in Malaysia that will receive rare earth ores from its Mount Weld mine in Western Australia. Jonathan Manthorpe, an international affairs columnist for the Vancouver Sun, examines the claims of critics who wonder why the company needs to ship the ore 4,000 kilometres away from the mine.
The Western Hemisphere's sole rare earths producer has already sold 100% of its rare earths production this year to three major companies, W.R. Grace, Sumitomo and Hitachi.
Pancontinental Uranium Corporation: High Value Rare Earth Elements ("REE") Stream Sediment Results and New REE Hard Rock Drill Intersection at Charley Creek Project
Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon") and its joint venture partner Crossland Uranium Mines Limited ("Crossland") (ASX:CUX) are pleased to provide the following update on the latest results from their expanding (REE) exploration program at […]
New York Times says that Malaysia is placing a big bet on rare earth metals: As many as 2,500 construction workers will soon be racing to finish the world’s largest refinery for so-called rare earth metals […]
Ucore Rare Metals Inc. (TSX-V:UCU) announced the first NI 43-101 compliant independent resource estimate for the company's 100%-owned Bokan Mountain rare earth element (REE) project in southeastern Alaska. The resource estimate was prepared by Aurora Geosciences Ltd. ("Aurora") of Yellowknife, NWT which recommends that the deposit merits additional drilling, metallurgical research and economic investigation.
The head of China's largest metals trader has called for government efforts to consolidate the rare earth industry and nurture competitive domestic firms in the sector. Zhou Zhongshu, president of China Minmetals, said that the difficulties facing China's rare earth industry mainly come from the fact that local authorities, owners of rare earth mines, tend to issue mining licenses to local firms.
Pele Mountain Resources has released an NI 43-101 resource estimate for its Eco Ridge uranium and rare earths project in Elliott Lake, Ontario. The resource includes 51.9 million pounds of indicated total rare earth oxides […]
While Beijing has already implemented a quota system for rare earths, the country is set to launch an industry association that will monitor exports and ensure a rare earth reserve system.
A prestigious U.S. defence think tank says the country's current dependence on Chinese rare earth metals will harm future U.S. military and economic needs.
The Perth-based junior says drilling has shown widespread uranium and rare earth elements at its 100% owned uranium project in Botswana.
The U.S. decision last month to launch a Renewable Energy and Energy Efficiency Export initiative should turn out to be yet another boon for lithium producers, who are or will be trying to sell into a growing lithium ion battery market for technological and electric car uses.
Speaking at the World Economic Forum in Davos, the region's trade chief said it was determined to secure supplies of the metals from both China and alternative sources.
Chinese officials say the country will continue with rare earth exports and are still pondering 2011 rare earth export quotas, but promise a timely decision.
ETFdb reports that Toyota may find substitute for some of the rare earths it consumes: Toyota is sinking vast sums into research and development of new technologies which seek to limit the needs for rare […]
Don't look now, but vanadium demand is ramping up, according to Jon Hykawy, head of global research with Toronto-based Byron Capital Markets. Vanadium is mostly used to strengthen steel, but the metal could see its demand dramatically increase if battery manufacturers start using it to boost power output in lithium-vanadium cells. In this exclusive interview with The Gold Report, Jon talks about some potential demand drivers for vanadium and some companies looking to capitalize on the impending boost in vanadium use.
The burgeoning global markets and growing high-tech applications for rare earth elements provides Ontario with an opportunity to expand its mining - and manufacturing — sectors, according to the Ontario Mining Association (OMA).
Rare earth and lithium boosters beware. Ken Fisher, chairman and chief executive officer of Fisher Investments Inc., recommends Fiat since the company's management is not pursuing its own electric car. "They understand the trend that […]
The surge in the super-sexy Rare Earth stocks has made Strategic Metals a craved space in which to be invested This renewed interest has enable companies in the subspace to crawl out of the bunkers and start to raise money and dust off projects
China's rare earths policies were a topic of discussion during the Chinese Vice Premier's trip to Germany, the German minister's spokesperson said. German Economy Minister Rainer Bruederle has asked Chinese Vice Premier Li Keqiang to reconsider planned
China Yunnan Copper reports a significant drill intercept of heavy rare earths at its Mt. Dorothy prospect in north-west Queensland SYDNEY - With a significant heavy rare earth element intercept at the China Yunnan Copper Australia (ASX: CYU) Mount
The Japanese government has set aside $650m in its budget for the financial year starting in April to secure supplies of the metals both from abroad and at home. (Reuters) - Japan's government has set aside 53.3 billion yen ($650 million) in its budget