Exploration Orbite VSPA has discovered the presence of high-value byproducts such as scandium, gallium and other important rare earth elements in its Grande-Vallée deposit in the Gaspé region of Quebec, all of which offer strong economic potential for the company and for Canada, the company believes.
Rare Earth Mining News
Rare earth stocks have been hugely popular for the past few months. I remember one day when it seemed like CNBC suddenly started talking about Molycorp (MCP) and other rare earth stocks so frequently that it made me wonder if they had a motive.
Orbite identifies rare earth elements in its Grande-Valee deposit, further enhancing its offering to the aluminum and high-technology industries
Exploration Orbite (TSX VENTURE:ORT.A) is pleased to announce the presence of high-value by-products such as scandium, gallium and other important rare earth elements in its Grande-Vallée deposit, all of which offer strong economic potential for the company and for Canada. The Company is also pleased to announce its filing of a provisional U.S. patent application that extends protection for its existing patented technology to the extraction of scandium, gallium and other rare earth elements from aluminous clay.
Purchasing commodity producing equities has been extremely profitable for most investors over the past year as a weak dollar and supply issues have driven up everything from soft commodities to industrial and precious metals. The sharp gains have also carried over to the dynamic rare earth metal market where fears over Chinese export limits as well as the metals’ critical nature to a variety of 21st century technologies dominate the price movements of this group of elements. In fact, according to Metal-Pages, from October 2009 through December 2010, prices for rare earths have risen by approximately 780% on average.
A lot of people are buying the stocks of rare earth companies today — most because they have read that this is a “hot” industry and because most trade as penny stocks and are therefore highly “toutable” by the kind of newsletters that use copy like: We expect a minimum return of 10,486% on this Secret Stock we are willing to divulge to you alone!!
U.S. Rep. Mike Coffman's rare earth legislation may have lit a fire under Molycorp's stock price, which rose 10.3% on Thursday trading. Coffman, Republican congressman representing Colarado, introduced legislation on Wednesday calling for a variety of measures that would better ensure that the United States has secure access to rare earth metals. Molycorp stock finished Thursday at $68.45. The stock's 52-week range is $12.10 to $68.79.
The US$89 million shares-and-cash acquisition of Estonia's AS Silmet by Colorado's Molycorp means both rare earth companies "will be able to take advantage of the very robust price situation in the market right now," Molycorp CEO Mark Smith said during a conference call with analysts Monday.
As Molycorp refurbishes and ramps up its Mountain Pass facility, the company hopes the acquisition of Estonia's AS Silmet provides a short-term production boost along with long-term REO product diversification.
Molycorp has entered into a cooperative research and development agreement with the US Department of Energy's Ames Laboratory. Molycorp will team-up with Ames to develop new methods of creating commercial-grade rare-earth permanent magnets. Read more
Not too long ago in our national history, mining for rare earths (Market Vectors Rare Earth/Strategic Metals (REMX) was an American enterprise. As in so many other areas, such as nuclear power, automobiles and technology, […]
China has increased its 2011 rare earth export quota, says an article by International Business Times: China has set its total output of rare earth at 93,800 tonnes this year, 4,600 tonnes more or 5.16 percent higher compared to last year's, the Ministry of Land and Resources said this week.
Although Greenland has been known as a source of uranium for many years, its recent development as a base for rare earth extraction could not be much timelier.
On Wednesday, shares of Molycorp (MCP), which controls one of the world’s largest and richest rare earth deposits at its facility in Mountain Pass, California, fell despite a news announcement that the mining company and a federal laboratory have partnered to make magnets from rare earth metals in an agreement designed to spur the U.S. supply chain for the metals.
The metals markets were briefly sidetracked by the Japanese earthquake and subsequent nuclear emergency. Gold did not know whether to go up or down in response to the damage wrought in Japan and the financial measures the Japanese government took. Was it inflationary? Or was it the straw that broke the camel's back of global recovery? Read the full report
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.
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 […]