The western hemisphere's sole rare earth oxides producer, Colorado-based Molycorp, announced Thursday it has now fully funded its US$781 million expansion and modernization project at its flagship Mountain Pass rare earth facility in California. "Full funding of the capital plan of Project Phoenix is a major milestone in Molycorp's overall rare earth ‘mine-to-magnets' business plan," the company said in a news release.
Rare Earth Mining News
Chinese industrial executives say the world's supply of rare earth minerals will outstrip demand within five years, ending reliance on China's exports. Wang Hongquain, general manager of China Nonferrous Metal Industry's Foreign Engineering and Construction Company (NFC), toldChina Daily more nations with large rare-earth deposits will resume exploration, which will lead to a global reallocation of the minerals.
Rare Element Resources stock jumped 9% in after hours trade in New York after a new estimate for the amount of rare earth materials at its Bear Lodge project in Wyoming showed a 20% jump. The gains were on top of a 7% jump during regular hours for the volatile stock which is still trading down almost 40% from record highs hit in January. The company also sees significant potential for further expansion of all deposits.
The Emerging Trends Report is 18 months into a planned 4-year circumnavigation of Australia, investigating specialty metal projects and recommending ASX-listed companies to clients. In this exclusive interview with The Critical Metals Report, we caught up with ETR Managing Editor Richard Karn shortly after he delivered the keynote address to the 2011 Energy and Resource Symposium for an update on the specialty metals market down under.
Wealth Daily Editor Luke Burgess loves the word "gangbuster." It makes him laugh, and it signals great opportunities for investors to make money. In his first exclusive interview with The Gold Report, he shares this take on Yukon gold plays and diversification among small-cap equities, be they gold, silver or rare earth plays.
Aluminum Corporation of China (Chinalco) has taken a 45 percent majority stake in a rare earth joint venture in Jiangsu province, boosting such assets, which is part the firm's strategic development plan, a company spokesman […]
Aluminum Corporation of China (Chinalco) has taken a 45 percent majority stake in a rare earth joint venture in Jiangsu province, boosting such assets, which is part the firm's strategic development plan, a company spokesman said on Friday.
Short seller Jim Chanos is well known for his negative assessments of China, especially Chinese real estate. One of his more colorful expressions about China's economy is "the Chinese are on a treadmill to Hell." […]
No curve balls from the USDA but as for food prices look for prices to stay elevated. Crude will settle approximately 1% higher in today’s session trading briefly over $102/barrel in the July contract. We […]
Solid Resources Ltd. "SOLID" or the "Company" TSXV: SRW Frankfurt: YRS is pleased to provide assay results from an additional 4 holes drilled as part of the Phase 3 program that is currently underway at the Companys 100% owned Doade-Presqueiras rare metals project in North-western Spain, 25 km east of the port city of Pontevedra. Hole S0-11-04, which was previously pending is now included. The results of hole S0-11-12 deserves special recognition for two reasons: firstly because results like this are the best to date in the northern section of the property known as the Presqueiras area.
First, Molycorp (MCP) look poised for a rally. Soon after that, the technicals turned, indicating pressure was building for a big move. I hedged, but I remained bullish.
Molycorp, Inc. (NYSE: MCP), the Western hemisphere's only producer of rare earth oxides, today announced that, subject to market conditions, it intends to offer $200 million principal amount of its Convertible Senior Notes due 2016 (the “Notes”) in an offering exempt from the registration requirements of the Securities Act of 1933. The Notes are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. In addition, Molycorp intends to grant the initial purchasers of the Notes an option to purchase an additional $30 million principal amount of the Notes.
But just what are critical metals? They are sometimes referred to as "strategic" or "technology" metals, but clear definitions for these terms often prove elusive and routinely depend on to whom you're talking.
China is giving its biggest, state-owned rare earths miner and producer a monopoly for the northern part of the country in reforms aimed at bringing the strategically important resource that's crucial to advanced manufacturing under tighter control.
The Winnipeg office of Union Securities Ltd. is hosting a special presentation on technology metals by the man who coined the term "Rare Earth Metals" four years ago. Jack Lifton, a 48-year veteran of the mining industry, Founding Principal of Technology Metals Research LLC, and a leading adviser to the high tech industry and the global institutional-investment community, will be speaking at the Winnipeg Free Press News Café, 237 McDermot Avenue on Saturday, June 11 at 9 a.m.
Quantum Rare Earth Developments Corp. (TSX VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3) ("Quantum", the "Company") is pleased to announce the addition of David C. Beling, P.E. to the Board of Directors, and the additions of James E. Reynolds, Chemical Engineer, and David R. Shoemaker, Mining Engineer to the Technical Advisory Board.
Ucore Rare Metals acquired significant additional rare earth-prospective land holdings in Alaska. D uring May, 2011, the Company completed staking of a substantial claim block in the northern Ray Mountains region of central Alaska, on lands selected for mineral potential by the State of Alaska.
Baotou Steel Rare Earth (Group) Hi Tech Co, the world's largest rare earth producer, will consolidate 35 local miners this month and further unify the distribution and processing of the 17 elements. The Inner Mongolia autonomous region, the site of 97% of China's reserves, has drafted a plan to concentrate all resources under Baotou. The move follows the announcement last week that the state-owned firm will set up the country's first rare earth products exchange to further regulate the market. China accounts for upwards of 95% of global supply. To combat China's domination of the market the US recently declared rare earth to be a strategic resource for the country.
Nearly a year has passed since Molycorp hit the stock markets with its IPO. And considering this stock’s popularity today, it’s astounding that this IPO had flown under the radar for most investors. Last July MCP shares debuted below the pre-IPO targeted price range, and traded on the low side of that range for weeks before it finally caught a bid. MCP didn’t quite have the fanfare as say LinkedIn or other IPOs over the last year.
Commodity Online online reports on Thursday rare earth monopoly China’s Jiangxi Province saw its output surged 30.15% year on year to 5,694 metric tons in the first four months of the year, boosted by rising prices. In the first three months of this year, the rare earth industry in Jiangxi realized RMB4.95bn ($770m) in operating revenue, up 83% from the first quarter 2010, due to increases in both output and prices. The industry saw its gross profit surged 166% year on year to RMB934m ($144m) during the period.
MCP reported earnings May 11 in the middle of this slide. After 10 days of consolidation below the 50-day moving average (DMA), MCP is finally making a breakout move. Buying volume is dominating selling volume as MCP has finally punched above the 50DMA.
Seymour Ventures announces launch of 2011 exploration program on the Mount Bisson and Xeno rare earth properties
Seymour Ventures' wholly owned subsidiary Rare Earth Industries Ltd. (REI) is pleased to announce that it has commenced the exploration work program on the Mt. Bisson and Xeno rare earth properties, located in the Omineca Mining Division, approximately 50 kilometers NW of Mackenzie in central BC. REI has the right to earn a 60% interest in the properties from Paget Minerals by spending $1,050,000 over three years to develop the property, including $350,000 in 2011. The initial discovery of rare earth element mineralization on the Mount Bisson property was made by Halleran in 1986 with total rare earth element (TREE) contents as high as 13.5 wt.% in grab samples from the Laura occurrence.
Let me begin by saying that I believe the premise of this question is mistaken. It is quite incorrect to think that fossil fuel resources are finite. It may be true that there is a finite quantity of such resources in the earth's crust, but that does not mean that we will ever run out.
Shares in Africa-focused Globe Metals and Mining shot up on Monday after it released positive rare earth exploration results. Chinese state-owned firm East China Minerals Exploration and Development Bureau last month became the largest shareholder in Globe when it bought a 53.7 per cent stake.
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.