NTVKenya reports that a rare earth company in Kenya is facing angry opposition from residents who want the company to stop exploration work. The project is located on the south coast, 85 kilometers from Mombasa. The exploration license was issued to Cortec Mining Kenya, a South African company that was incorporated in Kenya last year.
Rare Earth Mining News
The company is focused on exploration and development of its Goeland rare earth project in the Abitibi region of Quebec, Canada.
Some see it as a strategic masterstroke by China, others, a shocking oversight by the United States. And while the truth lies somewhere in the middle, the fact remains that the US is now wholly dependent on China for some of the most critical components of its modern military hardware.
A small Quebec company says it has uncovered one of the world's most significant deposits of neodymium reports the Montreal Gazette. GeoMegA Resources believes its Montviel property about 500 kilometres northwest of Quebec City, has a huge potential for quick development thanks to the size of the deposit and closeness to infrastructure. Two other companies are active in the region with Commerce Resources announcing significant discoveries on Thursday following its winter drill program at its Eldor rare earth project (pictured) at what it says is ranked as one of the largest REE deposits outside of China. On Friday Vancouver-based Canada Rare Earths announced it acquired a 69.55 km2 rare earth property 350 kilometers south of Montviel adding to its assets adjacent to that of GeoMegA.
Reuters reports that Minmetals has urged all firms in the rare earth sector to maintain the national output quota by suspending production starting from the beginning of August.
It’s sure been an exceptionally-ugly week in the US stock markets! But these scary conditions are a contrarian’s dream, an ideal time to snatch up bargains.
North Bay Resources Inc. announced on Wednesday that the Company has acquired a 100% undivided interest in two rare earth properties in southeastern British Columbia. The Perry River Carbonatite property covers 505 hectares (1,247 acres) and is located approximately 42 kilometres northwest of Revelstoke, BC. The property is known to host niobium, lanthanum, cerium, neodymium, and other REEs.
Ucore Rare Metals Inc. announced on Wednesday that the U.S. Department of Agriculture has granted a request for priority permitting of the Company's Bokan Mountain rare earth project in Southeast Alaska. The Department has approved exploration permitting in inventoried roadless areas of the Tongass National Forest proximal to Bokan. The permitting approvals will allow the Bokan project to proceed significantly faster than previously anticipated, reducing project development time by a year or more.
The Korea Herald reports a Korean consortium forged an agreement with Bolivia’s state-run miner Comibol over the weekend to manufacture lithium-ion battery parts, boosting Korea’s bid to tap the largest lithium deposits in the world. A research project involving extracting lithium will begin next month at Bolivia’s Salar de Uyuni – an 11,000 square kilometers salt flat (pictured) – with plans for constructing lithium-carbonate processing facilities. The soft, silver-white metal is widely used in rechargeable batteries for mobile phones, laptops and electric cars and the price has been steadily increasing prompting talk of a Opec-style cartel to control production and prices among South American nations that together control 85% of the world's resources.
Due to rare earth's rising costs and unreliable supply, Japanese researchers built an electrical car that doesn't use any REEs. The proof-of-concept car was built by the Tokyo University of Science, and has an output of 50 kW with 95% plus efficiency. Eschewing rare earth materials did cost the car in some aspects. The car has poorer torque and energy efficiency than cars that use rare earth metals.
Great Western Minerals Group (“GWMG”) is pleased to announce that it has contracted DRA Mineral Projects (Pty) Ltd. (“DRA”) of South Africa, a company with a strong track record of utilizing world class standards, for the detailed design of the Steenkampskraal processing plant. DRA is a multi-disciplinary, multi-national organization that specializes in the mining, infrastructure and mineral processing industries. As one of the largest project management enterprises in Africa, the South African-founded group of companies has constructed plants on five continents.
Molycorp's subsidiary has awarded an engineering, procurement and construction contract to KBR to construct a new chlor-alkali plant at its $781m Project Phoenix in California.
Molycorp, Inc. (NYSE: MCP), the Western hemisphere's only producer of rare earth oxides, today announced the award of an Engineering, Procurement, and Construction (EPC) contract by a wholly owned subsidiary to KBR (NYSE: KBR) to build a Chlor-Alkali plant as part of Molycorp's state-of-the-art, $781 million Project Phoenix expansion and modernization at its flagship rare earth facility at Mountain Pass, Calif.
At the once-feared commodity trading arms of Goldman Sachs and Morgan Stanley, the pressure to do better in the second half of this year has never been more intense.
Great Western Minerals Group ("GWMG") (TSX VENTURE:GWG)(OTCQX:GWMGF) has negotiated a Heads of Terms with Ganzhou Qiandong Rare Earth Group Ltd. ("GQD") of China to build a rare earth separation plant in South Africa, located in proximity to GWMG's Steenkampskraal operation.
Ditem Explorations (TSX VENTURE:DIT) is pleased to announce that the summer exploration program on the Lalande property is now underway.
BE Resources Inc. corrects assay results from drilling program at Warm Springs Beryllium & Rare Earth Project
BE Resources Inc. (TSX VENTURE:BER) is re-releasing rare earth assay results to correct the figures disseminated on Friday, July 22, 2011. The assay results released Friday contained mathematical errors that occurred in the process of aggregating […]
Azimut Exploration Inc ("Azimut" or "the Company") (TSXV: AZM) announces the discovery of a new mineralized 1.5-km-long copper-molybdenum zone on its 100% owned Rex property in Nunavik, northern Quebec. This latest zone (the Robinson Zone) further supports the excellent exploration potential for large-scale polymetallic deposits in a region considered by Azimut to be a new mineral belt of major importance.
Financial markets — including commodities — surged after details from the highly-anticipated EU Summit were released. Germany's demand that private investors be a part of any Greek bailout, which will likely be considered a partial default by ratings agencies, seems to have been met.
Pele Mountain Engages Advisor for Strategic Process to Separate Gold Assets from Eco Ridge Mine Rare Earths and Uranium
Pele Mountain Resources Inc. (TSXV: GEM)( OTCQX: GOLDF) ("Pele" or the "Company") announced today that it has engaged Foundation Opportunities Inc. ("FOI") of Toronto, on a non-exclusive basis, to assist and advise Pele with its evaluation of strategic alternatives regarding its Ontario gold assets.Â Pele's gold assets, which are held in its wholly-owned subsidiary, Pele Gold Corporation ("Pele Gold"), include a 100-percent interest in the East & West Highland Gold projects, as well as a 49-percent interest in the Ardeen Gold project.
When news broke Thursday last week that China was raising REE export quotas for the second half of the year, ostensibly in reaction to a WTO ruling, it was greeted with some surprise and a measure of relief by the makers of anything from iPods to lasers to stealth helicopters. But as the implications of the announcement on future pricing of the 17 elements begin to sink in some analysts are pointing out that rather than easing the pressure on manufacturers who need rare earths, China's move was aimed at cutting off at the knees development of mining projects outside its borders.
A new report from IMARC Group expects an exponential growth in the demand of rare earth based magnets in the coming years. A supply shortage of key raw materials, however, may jeopardize the growth of this entire industry. Rare earth based magnets
Strong metal and oil stocks lift the TSX Composite Index Tuesday as the loonie rallies on expectations of eventual rate hike.
Commodities don’t all perform in the same way. In any given year, a particular commodity will go gangbusters and outperform the group.
WOLFSBURG Russia is offering Germany closer cooperation on rare earths as well as gas and oil supplies, a Russian official said on Monday ahead of an annual bilateral summit in Germany. Berlin has been trying to improve German industry's access to the