One of the more unique lots at Christie's Magnificent Jewels auction on November 29 in Hong Kong is likely to be a set of poker chips made by the Swedish artist and jeweller Kristian Ståhl. The 120 chips are made of 18K white gold and are set with a total of 5,160 calibrated top-quality diamonds, rubies and sapphires. But what makes the set truly unique is that each chip was sliced from the 1 million year old Muonionalusta meteorite that contains iron, nickel and rare earths. The set is estimated at $100,000 – $150,000 and Stahl said he was inspired to create it after his Siberian mammoth ivory dice sold well at auction last year.
Rare Earth Mining News
Major Processing Design Improvements Boost Recovery of Critical Rare Earths at Pele Mountain’s Eco Ridge Mine Project
Pele Mountain Resources Inc. (TSX Venture: GEM; OTCQX: GOLDF) (“Pele” or the “Company”) today announced that processing design improvements have resulted in sharply higher recoveries of critical rare earth oxides (“REO”), including neodymium, dysprosium and yttrium oxides, (Pele’s “Big 3 REO”) at its Eco Ridge Mine Rare Earths and Uranium Project (“Eco Ridge” or the “Project”) in Elliot Lake,Ontario.
Royal Energy Resources, Inc. (OTCBB:ROYE) today announced that the company obtained approval from the state board of Wyoming for an all out lease of 2,100 acres of the Crook County Rare Earth property. The rare earth property is believed to host rare earth elements (REE's) and Precious Metals.
Wind turbine manufacturers are scrambling to find alternatives to a key element used in direct-drive permanent magnet generators (PMGs), thanks to skyrocketing prices and diminishing supplies of crucial rare earths. China currently provides 94% of the world's rare earths, including neodymium and dysprosium, which are used in the magnets for direct-drive wind turbine motors. However, the Chinese government has put new restrictions on rare-earth mining that have resulted in lower supply levels, according to a report from research firm Roskill Information Services (RIS).
The prices of rare earth elements, which have enjoyed a three-year run, are dropping rapidly, reports New York Times. The reason, says The Times, is on the manufacturing side, as big companies in the US, Europe and Japan that use REES in manufacturing move operations to China, draw down inventories, and look for lower-cost substitutes: International prices for some light rare earths, like cerium and lanthanum, used in the polishing of flat-screen televisions and the refining of oil, respectively, have fallen as much as two-thirds since August and are still dropping. Prices have declined by roughly one-third since then for highly magnetic rare earths, like neodymium, needed for products like smartphones, computers and large wind turbines.
A new European study says supply shortfalls of rare-earth elements over the next two decades put at risk the EU's ambitious plans to expand the production of solar, wind and green transport technologies and implement carbon-capture systems. According to the EU's Joint Research Centre, solar will require half the current world supply of tellurium and 25% of the supply of indium, while Europe’s wind energy programme which is supposed to power all of the continents 240 million households within 20 years need a steady supply of neodymium and dysprosium. China controls 95% of the globe's rare earth output in 2010 produced more solar panels than the rest of the world combined.
Pancontinental Uranium Corporation: Charley Creek project update-potential for large alluvial REE deposits
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2011) - Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon") and its Joint Venture partner, Crossland Uranium Mines Limited (ASX:CUX) ("Crossland"), the operator, are pleased t...
THUNDER BAY, ONTARIO--(Marketwire - Nov. 16, 2011) - Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company") (TSX VENTURE:RA)(PINK SHEETS: RAREF)(OTCQX: RAREF) is pleased to report results from the final ten drill holes completed on the Two Tom Mineralized Zone at the Red Wine property, located approximately 110 kilometers northeast of Churchill Falls in west central Labrador. A total of 23 holes have now been drilled on the Two Tom REE/Beryllium/Niobium Zone. This total includes ten holes completed in 2010 and thirteen holes completed between June and September, 2011. All holes intersected the tabular zone. Of particular note is hole TT-15b which intersected 1.68% TREO, 0.21% Nb2O5 and 0.19% BeO over 175.5 meters including a higher grade intersection of 2.15% TREO, 0.27% Nb2O5 and 0.24% BeO over 120.0 meters.
SASKATOON, SASKATCHEWAN--(Marketwire - Nov. 16, 2011) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE:GWG) (OTCQX:GWMGF) is pleased to announce the appointment of Kwaw Kabaah as Mine Manager at the Company's Steenkampskraal mine operation in South Africa. Mr. Kabaah, who reports to David Kennedy, Chief Executive Officer of Rareco, GWMG's wholly-owned subsidiary, is responsible for the management, control and day-to-day operations at the Steenkampskraal mine.
Montero Announces Infill Drilling Results of 11.7m at 7.35% TREO at the Wigu Hill Rare Earth Project in Tanzania
TORONTO, ONTARIO--(Marketwire - Nov. 15, 2011) - Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") has completed an infill drilling program at the Twiga Zone at the Wigu Hill Rare Earth Project in Tanzania. Infill drilling ...
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2011) - International Montoro Resources Inc. ("Montoro") (TSX VENTURE:IMT)(PINK SHEETS:IMTFF)(FRANKFURT:O4T) has acquired through staking an additional 4 claims covering over 4,500 acres, due west of its previously acquired Carbo group in 'The Rocky Mountain Rare Metal Belt' northeast of Prince George, British Columbia.
TORONTO, ONTARIO--(Marketwire - Nov. 15, 2011) - Frontier Rare Earths Limited (TSX:FRO)(TSX:FRO.WT) is pleased to provide an update on operational progress at its Zandkopsdrift rare earth element project in South Africa and related corporate activities. "We are very encouraged by the progress of work on the preliminary economic assessment for our flagship Zandkopsdrift project, and expect to announce the results early next year," said Mr. James Kenny, President and CEO of Frontier Rare Earths. "We believe that the PEA will clearly demonstrate the significant economic potential of Zandkopsdrift and this will leave Frontier well positioned to become one of the major producers of rare earths globally commencing in 2015."
Macauhub reports Australian company Southern Cross Resources said Wednesday that its concession in Xiluvo, Mozambique, some 110 kilometres from the port of Beira, had reserves of rare earth elements of 1.1 million tons.
Hastings Rare Metals Limited (ASX:HAS) announces significant rare earth results at Yangibana project
Hastings Rare Metals Limited (ASX:HAS) announces the results of a recent sampling programme at the Yangibana Project in Western Australia. Assays return up to 12.8% total rare earth oxides, confirming the potential for a high neodymium oxide resource. The Company is considering a major drilling programme to further define the drilled targets and establish JORC-compliant resources in 2012.
Texas Rare Earth Resources contracts Gustavson Associates, LLC to perform scoping study at Round Top Heavy Rare Earth Project
DENVER & SIERRA BLANCA, Texas--(BUSINESS WIRE)--Texas Rare Earth Resources Corp. (OTCQB:TRER), a heavy rare earths exploration and development company, today announced that Gustavson Associates, LLC, a subsidiary of Walsh Environmental Scientists and Engineers and its parent company, Ecology and Environment, Inc. (NASDAQ: EEI) has been contracted to perform the scoping study at the Round Top Rare Earth project in Texas. Gustavson has more than 29 years experience in the mining business, specializing in minerals and hydrocarbon exploration, production, and evaluation.
Avalon Rare Metals Inc. (TSE:AVL) (PINK:AVARF) announces that it is continuing to make steady progress towards defining the metallurgical process flowsheets for the Nechalacho heavy rare earths ore. Results are positive but progress has been slower than originally anticipated. This could result in a minor delay in the completion of the bankable feasibility study, but the overall schedule to production remains unaffected at this time.
The companies in a race to produce critical heavy rare earth elements by 2016 are already way ahead of their smaller competitors.
Rare Earth Metals Inc. outlines a number of heavy rare earth targets on Its Dory Pond area, Red Wine Property
THUNDER BAY, ONTARIO, Nov 08, 2011 (MARKETWIRE via COMTEX) -- Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company") CA:RA +12.50%RAREF +5.83% (otcqx:RAREF) is pleased to report that final results have been received from its summer exploration program on the B3N/Dory Pond area of the Company's Red Wine Property in Central Labrador. Final results have now been received for the Dory Pond area drilling, prospecting and soil geochemistry surveys. The bulk of the Red Wine work was carried out on the Two Tom Deposit, located 30 km east of Dory Pond, where a 43-101 compliant resource is expected to be calculated by year end once the final drill assays are received.
Texas Rare Earth Resources receives approval by the Texas General Land Office to expand its exploration efforts at Round Top
DENVER & SIERRA BLANCA, Texas--(BUSINESS WIRE)--Texas Rare Earth Resources Corp. (OTCQB:TRER), a heavy rare earths exploration and development company, today announced that its supplementary operating plan to expand exploration activities at the Round Top project has been approved by the Texas General Land Office (GLO). Independently published data indicates the property may contain approximately 1.6 billion metric tons of rhyolite host rock, containing rare earth minerals with potentially a 70% ratio of heavy to total rare earth minerals.
A temporary production stoppage by China's largest rare earth exporter makes the creation of an American rare earth stockpile more likely, according to a report by dealReporter that appeared in yesterday's FT. The stoppage was a "wake-up call" for the US Department of Defense because the rare earth elements are needed for a variety of defense applications, writes dealReporter, citing a congressional source. The article quotes congressional sources and three rare earth companies saying that "the creation of a US rare earth strategic reserve is more likely to get the go-ahead after (Inner Mongolia Baotou Steel Rare-Earth (SHA:600111)) halted production. Such a move would create another source of demand for the metals, likely aiding a rebirth of the US rare earths industry."
Bloomberg looks at the family behind Bokan Mountain, America's "most significant heavy rare earth deposit." The Bokan is located on an island in the south part of the Alaskan Panhandle. Ucore bought the claim from Bob Dotson and his fractious family, and the company is now trying to develop it.
Kirrin Resources Bottom Brook REE Project Awarded $100,000 Grant by Government of Newfoundland and Labrador
Kirrin Resources Inc. (TSX VENTURE:KYM) today announced that it has been advised by the Department of Natural Resources of the Province of Newfoundland and Labrador that Kirrin's application for Junior Exploration Assistance under the Mineral Incentive Program has been successful. The grant of $100,000 will be used for the drilling program at the Bottom Brook project scheduled to commence shortly.
A mining industry consultant says the high processing costs and level of expertise required in bringing rare earth mines into production means most of them will fail. In an interview with Reuters, Jack Lifton, founder of Technology Metals Research, said of the 244 companies hoping to extract REEs, less than 4% will be profitable: "The choke point for all the companies is the question of what they can do with the concentrated REM ore once it's above ground. You can extract the rare earths together, but then you have to separate them...the world's REM separation capacity is 99 percent Chinese and they have unused capacity," Lifton said. "The Chinese overwhelmingly control this and that is the key to the rare earth industry. Without separation capacity, all you have is a loss-making ore concentrate company."
Great Western Minerals Group announces pricing on previously announced $15 million private placement
Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (OTCQX:GWMGF) ("GWMG" or the "Company") is pleased to announce that the Company and a syndicate of agents co-led by Byron Capital Markets Ltd. ("Byron") and Cormark Securities Inc. ("Cormark") and including GMP Securities LP ("GMP") (collectively, the "Agents") have priced the Company's previously announced private placement (the "Offering"). The Agents will offer an aggregate of 23,810,000 of common shares (the "Offered Shares") of the Company at a price of $0.63 per share (the "Offering Price"). In addition, the Company has granted the Agents an option, exercisable at any time up to 48 hours prior to closing of the Offering, to place up to an additional 3,571,500 Offered Shares at the Offering Price for additional gross proceeds of $2.25 million, if the option is exercised in full. The Company expects that closing of the Offering will occur on or before November 10, 2011.
Energy & Environment: Markey Wants Answers on Rare Earths ? Rep. Edward Markey, D-Mass., "is pressing the Obama administration for information about alleged Chinese restrictions on the export of rare earth minerals used in defense and energy t...