Reuters reports China will extend a resource tax – calculated on value rather than volume of production – on domestic sales of crude oil and natural gas from some regions to the whole country and expand the list of taxable resources to coking coal and rare earths from November 1. The move, billed as a way of conserving resources and limiting environmental damage, is part of a long-awaited tax reform that would enrich the coffers of local governments but slash the earnings of resource companies, such as PetroChina Co, China National Petroleum Corp and Baotou Steel Rare Earths by billions of dollars each year. The tax on rare-earth ores will be levied according to a wide range of between yuan 0.4 – 60 per ton and between yuan 8 – 20 a tonne on coking coal.
Rare Earth Mining News
Canasia Industries Corporation ("Canasia" and the "Company") (TSX VENTURE:CAJ)(PINK SHEETS:CANSF)(FRANKFURT:45C) wishes to announce that it has increased its rare earth acreage in the vicinity of the Eldor Discovery in Quebec. 3,600 additional acres were acquired through Gestim, which now brings Canasia's total to 7,198 contiguous acres prospective for rare earth. On September 28, 2011, Canasia announced that the bulk sample program on the Clone Gold Prospect had been completed for the 2011 season.
Asian stocks rebounded strongly Thursday after positive U.S. data provided some relief to investors gripped by the recent turbulence in markets, with regional commodities and oil plays surging.
Despite worldwide efforts to reduce the consumption of rare earth elements, researcher IMARC Group expects strategies like substitution and recycling to have a little effect on demand for erbium, dysprosium, terbium, neodymium and europium in the short term.
Commodity prices may advance 20 percent over the next year as growth in emerging markets offsets the impact of the sovereign-debt crisis in Europe and a slowdown in developed economies, according to Goldman Sachs Group Inc.
Molycorp (MCP-N) has found a heavy rare-earth element (HREE) deposit near its Mountain Pass mine in California.
After a conference earlier this year in Juneau, Alaska, I bought into the belief that rare earth metals were in short supply, that Alaska could provide them, and that failure to mine such metals in the US would negatively affect the US economy. I even blogged to that effect.
Subsitution is driving rare earth demand down, according to analyst Dudley Kingsnorth speaking at an industry conference in China. Kingsnorth is executive director of Industrial Minerals Company of Australia. Dudley told the Metal-Pages(TM) Minor Metals and Rare Earth Conference in Beijing last September that he is dropping projected demand of rare earth oxide per annum to 170,000 tonnes from a previous forecast of 195,000. For example manufacturers of rechargeable batteries may start using lithium ion materials instead of a nickel-metal hydrid, which uses the light rare earth lanthanum.
Nautilus Minerals (TSE:NUS), a Toronto-based miner seeking to extract minerals from the ocean floor, uploaded some multimedia showing how it will mine the sea floor. The company is exploring for copper, gold, silver and zinc in seafloor massive sulphide (SMS) deposits, equivalent to land-based volcanogenic massive sulphide deposits such as Kidd Creek in Canada. The company's main focus is Solwara 1 Project, located off Papua New Guinea in the western Pacific Ocean. The mineralised zone is about 1.3 km long and up to 200 m wide. It has been drilled up to depths of 19 m below the seafloor. Water depth is approximately 1600m.
The price of the most abundant rare-earths are set to extend their decline from records this year as Japanese manufacturers, including Toyota the world’s top REE consumer, switch to recycled materials or eliminate the need for REEs altogether. Prices of certain elements such as cerium used to polish TV screens and lenses are already down 40% after months of break-neck price hikes while lanthanum which finds its way into nickel-metal hydride batteries has shown similar declines. However, the price of some REEs such as samarium used in jet fighter electrical systems are showing no signs of decline despite increasing 25-fold in just three years.
Great Western Minerals and GQD says making substantial progress on Steenkampskraal rare earth separation plant
Great Western Minerals Group (TSX VENTURE:GWG) (OTCQX:GWMGF) ("GWMG" or the "Company") is pleased to announce that substantial progress is being achieved, with the active participation of Ganzhou Qiandong Rare Earth Group Ltd. ("GQD") of China, in the development work on the rare earth separation plant in the vicinity of Steenkampskraal in South Africa.
As exciting as the critical metals sector is becoming, Gold Stock Trades' Jeb Handwerger warns that the public is being bombarded with misleading information, even at the highest levels of commerce and policy. In this exclusive article for The Critical Metals Report, Jeb gives his take on Molycorp's recent presentation to Congress, and outlines key points investors and policymakers alike should use to inform their decisions.
TORONTO, ONTARIO--(Marketwire - Sept. 27, 2011) - Excellon Resources Inc. (TSX:EXN) is pleased to announce the discovery of anomalous Rare Earth Element (REE) values in four drill holes located six kilometres north-northwest of the Platosa Mine. Values of Total Rare Earth Element Oxides (TREEO), the manner in which REE content is normally reported, range from 1,308 ppm (0.131%) TREEO over a 36.25 m core width in hole EX06-JVN03 to 2,136 ppm (0.214%) TREEO over a 281.25 m core width in hole EX06-JVN04. The TREEO amounts are comprised of Cerium, Dysprosium, Lanthanum, Neodymium, Praseodymium, Samarium and Yttrium oxides. Values of other REE oxides have been encountered but are not included in the reported results. Not enough is known about the occurrence to enable Company geologists to estimate true widths at this time. Assays for the four holes are shown in the table below.
Latin American Minerals delineates new rare earth elements targets at its Chirigueloniobium/REE project in Paraguay
TORONTO, ONTARIO--(Marketwire - Sept. 27, 2011) - Latin American Minerals Inc. (TSX VENTURE:LAT) (the "Company") announces selected interim results from 2011 ground exploration program at the Chiriguelo Project, located in northern Paraguay near the border with Brazil. Recentrock and soil samples have detected a second Rare Earth Element (REE) target. Previous exploration at the project had delineated a significant niobium (Nb) target and the original Chiriguelo Rare Earth Element target. Carbonatites similar to Chiriguelo include the world's largest niobium deposits, the Araxá and Catalão mines in Brazil, and also large rare earth deposits such as Mountain Pass in California and Mount Weld in Australia.
TORONTO, ONTARIO--(Marketwire - Sept. 23, 2011) - Avalon Rare Metals Inc. (TSX:AVL)(NYSE Amex:AVL) ("Avalon" or the "Company") confirms that three of its staff and four visitors were injured in the crash of Arctic Sunwest's Twin Otter floatplane in Yellowknife on Thursday. The board of directors, management and staff of Avalon send their deepest condolences to the families of the two pilots who died in the crash and to all employees of Arctic Sunwest, the Yellowknife-based air charter company.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2011) - Quantum Rare Earth Developments Corp. (TSX VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3) ("Quantum", the "Company") is pleased to announce Rare Earth Element ("REE") results for the remaining two holes of the spring/summer exploration program at the Elk Creek Niobium – REE Project, located in southeastern Nebraska, USA. REE results have been finalized for drill holes NEC11-004, located approximately 2.5 kilometres east of the Niobium Deposit; and NEC11-005, located approximately 1 kilometre ENE of the Niobium Deposit.
Ecnonobrowser, via Counterparties, looks at the current economic malaise in the U.S. and examines what possible sectors may help lead the economy out of its current slump.
IAMGOLD Corporation ("IAMGOLD" or the "Company") today announced an update on its exploration of the rare earth elements ("REE") adjacent to its Niobec niobium mine near Saguenay, Quebec, Canada. The known rare earth element zone ("REE zone") located about one kilometre north of the Niobec mine was last explored in 1985, and is known to host significant rare earth element mineralization. As reported in the Company's 2011 second quarter report, a supplemental exploration program of $2.5 million was approved to drill test the projected extensions of known niobium resources at Niobec, and to explore the REE zone. A 21,000 metre diamond drilling campaign commenced in the second quarter, with 8,500 metres directed to the REE zone.
The US Geological Survey (USGS) said on Wednesday it estimated there were at least one-million tons of rare earth elements contained in resources in Afghanistan’s restive Helmand province.
The British Geological Survey (BGS) on Wednesday published the latest list of the 52 elements, minerals and metals most at risk of supply disruption because global production is concentrated in a few countries, many with unstable governments. Surprisingly rare earths used in green technology and defence do not top the list but comes in at number five. Antimony, extracted mainly from stibnite (pictured), widely used for fireproofing is most at risk. The platinum group metals (auto catalysts) hold the second spot while niobium used in touch screens and scanners and tungsten for cutting tools are also at risk of supply disruption as a result of increased competition among the world's growing economies, political instability, resource nationalism, along with events such as strikes and accidents. China is the number one producer of 50% of the 52 chemicals on the list and produces 75% of the world's antimony.
Western Australian Minister for Mines and Petroleum Norman Moore, who is responsible for initiating the single biggest overhaul of Western Australia’s mining industry’s occupational health and safety system, assured Malaysians that the level of radioactivity attached to the product from Lynas Corporation's Mount Weld was very low, that it was not considered as dangerous goods from the point of transportation regulations.
SASKATOON, SASKATCHEWAN--(Marketwire - Sept. 12, 2011) - Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (OTCQX:GWMGF) ("GWMG" or the "Company") is pleased to announce that Company officials will be presenting at the following venues in September 2011. SASKATOON, SASKATCHEWAN--(Marketwire - Sept. 12, 2011) - Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (OTCQX:GWMGF) ("GWMG" or the "Company") is pleased to announce that Company officials will be presenting at the following venues i...
Pele Mountain drilling expands eco ridge deposit northward, demonstrates significant rare earth mineralization outside of main conglomerate bed
TORONTO, Sept. 12, 2011 /PRNewswire/ - Pele Mountain Resources Inc. (TSXV: GEM) (OTCQX: GOLDF) ("Pele" or the "Company") today announced results from the recent 7,000-metre drill program at its Eco Ridge Mine Rare Earths and Uranium Project ("Eco Ridge"
Elissa Resources Ltd. ("Elissa" or the "Company") (TSX VENTURE:ELI)(OTCQX:ELSRF)(PINK SHEETS:ELSRF) reports that it has retained the services of Maximus Strategic Consulting Inc. ("Maximus") to provide advertising services to the Company, subject to regulatory approval. Maximus operates www.pinnacledigest.com. VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2011) - Elissa Resources Ltd. ("Elissa" or the "Company") (TSX VENTURE:ELI)(OTCQX:ELSRF)(PINK SHEETS:ELSRF) reports that it has retained the services of Maximus Strategic Consulting Inc. ...
Reuters reports prices of most rare earth elements – used in consumer electronics, defence and green energy industries – have risen since Wednesday after of local government crackdown on mining, with three major producers slated for closure. The news follows an announcement from the EU that it is building a stockpile of a variety of REEs and that a high-level meeting of officials from Europe, the US and Japan will take place in Washington early next month to discuss supply security. The price of some REEs such as samarium oxide used in jet fighter electrical systems has increased 25-fold in just three years.