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.
Rare Earth Mining News
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
China announced this week that it was nearly doubling its rare earths export quota for the next six months compared to last year. But the Chinese government was promptly criticized by overseas officials who say […]
Falls among commodity issues sapped the strength of Britain’s top share index yesterday, as worries over global growth clouded the demand outlook for metals and oils. At the close, the FTSE 100 index was down 59.48 points.
After surging last week, industry bellwether Molycorp led a slide in rare earth mining stocks with a 5% drop by early afternoon on Thursday on news China is raising REE export quotas for the second half of the year in reaction to a WTO ruling. The exact impact of the decision is not yet clear: the new quotas only bring 2011 exports in line with last year prompting the EU to call it "highly disappointing." And fresh data from Lynas Corporation, world no. 2 outside China, show the price of a basket of eight REEs jumping 140% in just over two months.
Texas Rare Earth Resources Corp.’s primary focus is developing its Round Top Mountain rare earth—beryllium-uranium project which also includes niobium, tantalum and gallium. Round Top is located in Hudspeth County, Texas, 85 miles east of El Paso. Independently published data indicates the property may contain more than one billion metric tons of rhyolite containing rare earths with a 67% ratio of heavy to light rare earths.