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Rare Earth bonanza...in the damndest place:
http://www.nytimes.com/2010/06/14/world/asia/14minerals.html?no_interstitial
Bill Calls for Establishment of First U.S. Rare Earth Minerals Stockpile
U.S. Rep. Mike Coffman, R-Colo., has introduced a bill that would require the defense secretary and other federal officials to revive America's rare earth minerals industry and supplies while also calling for creation of the nation's first stockpile of the key materials.
Rare earth minerals "should qualify as materials either strategic or critical to national security," the legislation states.
RELATED TOPICS
Americas
Asia & Pacific Rim
Officials in Washington "should take measures to reintroduce a globally competitive domestic strategic materials industry that is self-sufficient in the United States domestic market with multiple sources of mining, processing, alloying and manufacturing," the bill states.
China now controls nearly 100 percent of the global supply and production of this family of elements, which is used to make crucial components in a list of American weapon systems, including jet engine turbines, unmanned planes, electric motors, radars, night-vision goggles, missiles, electronics and other items. The United States imports 100 percent of the rare earths it needs, according to the U.S. Geological Survey (USGS).
China's control, experts say, allows Beijing to dictate rare earths prices and global availability.
One industry source said March 17 that Chinese officials have decided to cap rare earth production for two years.
Most notably, the bill would require the defense secretary to begin purchasing rare earth minerals deemed critical to national security, "and place such rare earth materials in the national stockpile" within one year of enactment of the legislation.
Read the rest here of the article here.
http://www.defensenews.com/story.php?i=4545073&c=POL&s=TOP
Full text of HR 4866
http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.4866:
I'm sitting at the gap with an order but not sure it will fill.
STZYF .44 - must do the DD if you are into REEs
Nice REE play... supposed to have a huge deposit????
http://www.ggg.gl/docs/Greenland_Minerals_and_Energy_Fact_Sheet.pdf
Anyone have any advise on this? Pls advise.
http://www.ggg.gl/Investor/Stock-Price-Chart.htm
Not sure about that but am watching. Went from 0.04 to 0.075 back to 0.045.
Avalon took off today. See how far this gets:
AVARF http://stockcharts.com/h-sc/ui?s=AVARF&p=D&b=3&g=0&id=p07120533134&a=185177762&listNum=15
AVL.TO weekly http://stockcharts.com/h-sc/ui?s=AVL.TO&p=W&yr=4&mn=0&dy=0&id=p68534578146&a=184452187&listNum=15
Jack Lifton essay: THIS one's important:
http://seekingalpha.com/article/178225-on-the-rare-earth-crisis-of-2009?source=yahoo
Interesting interview with Jack Lifton:
http://www.theaureport.com/pub/na/3394
S.Korea to invest $259 mln in rare metals by 2018
Fri Nov 27, 2009 3:26am GMT
http://uk.reuters.com/article/idUKSEO3056120091127
SEOUL, Nov 27 (Reuters) - South Korea will invest 300 billion won ($259.3 million) to develop technologies and raise self-sufficiency rates of rare metals such as lithium and magnesium by 2018, the government said in a statement on Friday. In the private sector, POSCO (005490.KS) will invest 2.8 trillion won in five sectors including rare metals, non-ferrous metals, carbon materials, future new materials, and recycling through 2018, the statement said. LS Nikko will spend 500 billion won in expanding production of rare metals by 2020. "Local demand on rare metals has been rising sharply along with the growth of future advanced businesses including LCD and hybrid cars," the statement said.
"Through the investment the government aims to raise the self-sufficiency rates of rare metals from current 12 percent to 80 percent by 2018."
Rare Earths Shortage Expected by 2015 – Experts Gather in Hong Kong
2009-11-19 11:40769
http://english.ntdtv.com/ntdtv_en/ns_china/2009-11-19/606769525339.html
"Rare earths" are a collection of 17 rare chemical elements in the periodic table.
Every year, sales of these rare metals seem somewhat insignificant—adding up to less than $2 billion U.S. dollars—but without them, industries worth trillions of dollars would grind to a halt.
A wide range of gadgets and consumer goods, including the hybrid car and generators for wind turbines consume these little-known elements.
Industry experts are predicting an annual shortage of 44,000 tons by 2015.
In Hong Kong, experts discussed these rare earth metals at the fifth international Metal Events Rare Earths conference.
[Nicholas Curtis, Lynas Corporation, Executive Chairman]:
"Governments have now taken a very strong policy positions on industries they want to stimulate and many of those industries they want to stimulate are green industries. And those green industries require rare earths.”
Over-production and low prices during the 1990s and early 2000s, led most rare earth producers around the world to shut down their operations.
In China, however, rare earth production has increased to about 97 percent of global supplies in 2008, experts say.
But soaring domestic demand has led the Chinese regime to put strict controls on its mining, production and exports.
Wang Yang is a researcher at Baotou Research Institute of Rare Earths in Inner Mongolia, where most of China's reserves are found.
[Wang Yang, Baotou Research Institute Researcher]:
“China supplies more than 90 percent of global demand for rare earth products. As the non-regenerative features of natural resources it is important and necessary to preserve the valuable resources in China."
Chinese domestic demand has grown 25 percent every year for the past three years. Now higher-end audio-visual, telecommunications and computer equipment manufacturing industries are producing and exporting the final products rather than just the components or rare earth commodities.
With a reduction in exports from China and continued growth in demand elsewhere, there’s an imbalance between supply and demand.
California company Molycorp Minerals hopes to replace China as the leading supplier of these scarce materials.
[Mark Smith, CEO of Molycorp Minerals]:
"Well the rest of the world wants Ipods and cell phones and Iphones and hybrid cars and compact fluorescent light bulbs. And then you couple all that with the policy decisions the various governments of the world are making to try and improve the environment and lower CO2 emissions. You couple all those things together and you have the potential for a very serious supply and demand problem."
Production of hybrid cars and wind turbines is expected to climb sharply, with more people wanting cleaner transportation and energy alternatives that reduce dependence on fossil fuels.
As China's industries begin to consume most of its own rare earth production, companies are seeking to secure reliable reserves for themselves elsewhere.
New Trench Assay Results out from SRSR...
http://www.sarissaresources.com/media/graphed-assay-resultsnb205.pdf
http://www.sarissaresources.com/media/graphed-assay-resultsree.pdf
KATX .0067 getting REE BUZZ
The company's main focus has been on Sediment-Hosted Stratiform Copper Deposits in the eastern portion of the province. Although copper is one of our main focuses, the company has a great interest in gold properties in and around the central area of the province. One of these is the Handcamp property area that has thus far provided high grade gold numbers as high as 158 g/t. With the discovery of Rare Earth Elements(REE) on our 100% owned "Rusty Ridge" property, the company will expand it's focus in this area as well.With the dramatic rise in gold, copper and silver, the company feels that its focus is in the right areas and will proceed to bring its properties to their full potential.
www.katexploration.com
Market cornered for rare minerals
Monday, November 16, 2009
http://www.thestandard.com.hk/news_detail.asp?we_cat=3&art_id=90569&sid=26103708&con_type=1&d_str=20091116&fc=10
As resource-hungry China scours the world for crude oil and natural gas supplies, it has managed to corner the global market for a group of obscure metals used to make iPods, wind farms and electric cars.
The mainland supplies at least 95 percent of the world's rare earths - 17 chemical elements with names such as praseodymium and yttrium - essential for a wide range of high-tech devices and green technologies.
China, which has long recognized the value of these metals, is tightly controlling the supply of these vital natural resources.
"China's goal is to create jobs in China and create goods in China," said Jack Lifton, a US- based independent rare earths analyst.
"We need to start producing these metals [in the United States] as we did in the past. If we don't do that, China will be the only country manufacturing devices using rare earths by the year 2015."
A single mine in the country's north produces half of the world's rare earths, with the rest coming from smaller mines in southern China as well as Russia, India and Brazil. China keeps most of the minerals within its borders by restricting foreign shipments.
Authorities have been increasingly restricting exports in recent years to prop up prices, ensure supply for its own needs and create jobs for millions of migrant workers by luring foreign companies to its shores.
Alarm bells started ringing this year amid reports that the State Council was considering further tightening restrictions and even banning the export of certain elements as well as closing mines.
Foreign companies and governments fear the new rules, if implemented, will deny them access to the metals used to make everything from hybrid vehicles to missiles, and force manufacturers to shift their plants to China.
Deposits being developed elsewhere will make available about 50,000 tonnes of rare earths by 2014. But total demand is expected to double to around 180,000 tonnes within five years. AGENCE FRANCE-PRESSE
China is nto going to wait until it is running out of its strategic metals. They will take action to ensure a viable future supply. Keep your eye on those companies with Rare Earth exposure like Avalon Rare Metals (TSX:AVL), Great Western Minerals (TSXv:GWG), Quest Uranium (TSXv:QUC), Strategic Resources (TSXv:UVR) and newcomer Tasman Metals (TSXv:TSM).
China has more than 50 percent of global reserves of rare earth resources, but China has no pricing rights or discourse powers in international markets. China's rare-earth has been sold as cheap as cabbages in the past two decades. Energy experts warn that with the current mining rate, strategic resources will be exhausted soon.
China's total reserves and production scale of rare earth ranks first in the world. The output of wolfram, indium and rare-earth in China accounted for more than 80 percent of the global output.
In Europe, U.S., Japan and ROK, the rare metals are also called "strategic metal" widely used in national defense. However, many countries began to import rare metals from China and other developing countries instead of mining in their countries.
In 1980s, China's rare-earth industry was in a mess and no one pay attention to it, which resulting in oversupply, thus rare-earth prices have been artificially lowered. China's rare earth industry is facing a non-profit dilemma. And foreign countries took their chance hoarding much of the market supply.
China's rare-earth production has reached 96 percent of all global production and exports reached over 60 percent in 2005. However, the pricing right is not reserved for Chinese enterprises. Compared with 1998, China's rare-earth exports have increased ten times, but the price has decreased by about 36 percent.
Energy experts warn that with the current mining rate, mining area in Baiyunebo, China's Inner Mongolia will turn to non-rare-earth in the coming 30 years. Rare-earth resources in Jiangxi will be exhausted in the next 20 years and China's world largest tungsten resources will also be exhausted in 14 years.
In recent years, China has realized the strategic importance of rare-earth. In 2005, crude rare earth ore was listed in the non-exportation catalogue. Foreign countries could only buy purified rare earth materials. And in the same year, export tax of rare earth substantially increased.
In April, Ministry of Land and Resources of China released a new standard of rare earth mining and cut down the output of rare earth; meanwhile, mining permits are still frozen.
By People's Daily Online
Orebodies Commences Work on Lithium/Ree Properties
http://investorshub.advfn.com/boards/board.aspx?board_id=16448
TORONTO, ONTARIO -- (Marketwire) -- 11/09/09 -- Canadian Orebodies Inc. (TSX VENTURE: CO) ("Orebodies") is pleased to announce that it has commenced work on four of its newly acquired Lithium/REE properties (the "Properties"). Orebodies has mobilized two crews to begin work on four of the five Properties in which it recently signed an LOI to acquire 100% legal and beneficial interest (subject to a 2% NSR retained by the vendor, 50% of which can be purchased by Orebodies for $1,000,000) on October 22, 2009.
One crew has been mobilized to cover the Falcon and Despard Properties and a second to work the Vegan and Niemi South Properties. The work will consist of detailed geological mapping and sampling across the claims to qualify historic results and obtain sufficient information to conduct further work programs during the winter months.
In order to complete the purchase of 100% interest in the Properties (subject to a 2% NSR retained by the vendor, 50% of which can be purchased by Orebodies for $1,000,000), Orebodies is required to issue an aggregate amount of 1,600,000 common shares of Orebodies and issue 1,600,000 share purchase warrants, each warrant entitling the holder to acquire one common share of Orebodies at an exercise price of $0.15 per share for a period of two years from closing. More information regarding the Properties can be found in Orebodies Press Release dated October 22, 2009.
Closing of the transaction remains subject to the approval of the TSX Venture Exchange and the execution of a definitive purchase agreement.
Forward Looking Information:
Some of the statements and information contained herein may be forward-looking information which involve known and unknown risks and uncertainties, including statements respecting the proposed acquisition of the claim units pursuant to the purchase. Without limitation, statements regarding the potential purchase of the claims, statements regarding potential mineralization and resources, proposed exploration activities and future plans and objectives of Orebodies are forward looking statements that involve various degrees of risk. The following are important factors that could cause Orebodies actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, the uncertainty of access to capital. In particular, there can be no assurance that the definitive purchase agreement will be entered into, that TSX Venture Exchange approval of the purchase will be obtained, or that Orebodies will undertake any or all of the payments or issuances necessary to complete the purchase.
Contacts:
Canadian Orebodies Inc.
Gordon McKinnon
President & CEO
(705) 268-9000
www.canadianorebodies.com
New rare earth metals firm to list in London next year, would be second only to China in scale
Greenland Minerals and Energy says it has access to what are probably the world's largest rare earth metal deposits.
Author: Pratima Desai (Reuters)
Posted: Tuesday , 10 Nov 2009
http://www.mineweb.com/mineweb/view/mineweb/en/page72103?oid=92550&sn=Detail
LONDON (Reuters) -
Greenland Minerals and Energy, with access to what it says are probably the world's largest deposits of rare earth metals and uranium plans to list in London next year, the company told Reuters on Tuesday.
Roderick McIllree, managing director at the Perth-based firm, said UK-based Evolution Securities had been appointed corporate advisor and broker to help with a London Stock Exchange listing, which he said was 6 months away.
"The economic and strategic significance of the resource at Kvanefjeld is only just starting to be understood. This is an orebody that is showing indications of being approximately 40 square kilometres of mineralised material," McIllree said.
GREAT WESTERN MINERALS GROUP ENGAGES BARR ENGINEERING TO UPDATE HOIDAS LAKE TECHNICAL REPORT
October 22, 2009 - Saskatoon, Saskatchewan – Great Western Minerals Group Ltd. (“GWMG” or the “Company”) is pleased to announce it has engaged Barr Engineering Company (“Barr”) of Minneapolis Minnesota to update the 43-101 Technical Report for the Company’s Hoidas Lake Project.
Barr is an employee-owned engineering and environmental consulting company involved with the development, management, and restoration of natural resources. With more than 40 years of experience Barr has been involved in solving a wide range of challenges faced by the mining and mineral processing industry, primarily in North and South America.
Under the scope of this contract, Barr will update the resource estimate for the Company’s Hoidas Lake project, incorporating the results of the Company’s drilling program which was completed in the spring of 2008 on the JAK Zone.
A total of 6,836 m was drilled in 32 holes to depths of 300 metres. The JAK Zone Vein System has been extended by 250 m to 1,000 metres and remains open along strike and at depth. The drilling also extended the zone to a depth of 300 m; previously, this zone had been tested only to a depth of 150 m. Preliminary indications are that the extensions of the previously drilled veins show similar mineralization to that previously identified in the JAK Zone and are expected to have similar grades.
John Pearson, MSc., P.Geo., Vice-President Exploration for GWMG, is the qualified person responsible for reviewing the contents of this news release.
Jim Engdahl, President and CEO of Great Western Minerals Group said "We are pleased to be able to get back on track more aggressively with our exploration activities, particularly on our Hoidas Lake project. As we noted in previous releases, our objective was to double the resource estimate for this project and this update could move us significantly down the road to doing that. What we still find exciting is the fact that our drilling programs to date only cover about 1,000 metres of strike and indications show it is open in all directions.”
About Great Western Minerals Group Ltd.
Great Western Minerals Group Ltd. is a Canadian-based company with six rare earth exploration and development properties in North America with an option on a sizable additional property in South Africa. In addition, as part of the Company's strategy to pursue a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing copper, nickel, cobalt and the rare earth elements.
For further information, please contact Ron Malashewski, Manager of Investor Relations at (306) 659-4516. Email inquiries should be made to info@gwmg.ca and the company website is located at www.gwmg.ca. Inquiries by direct mail should be addressed to Great Western Minerals Group Ltd., 226 Cardinal Crescent, Saskatoon, SK S7L 6H8.
GREAT WESTERN MINERALS GROUP VERIFIES HEAVY RARE EARTH GRADES AT DOUGLAS RIVER
October 9, 2009 – Saskatoon, Saskatchewan – Great Western Minerals Group Ltd. ("GWMG" or the "Company") is pleased to announce the results of a recent trench sampling program at its 100%-owned Douglas River project in northern Saskatchewan.
The work program focused on locating the original trenches on the property excavated by Saskatchewan Mining Development Corporation (“SMDC”) in 1984, following up on mineralization discovered by Marline Oil Corporation (“Marline”) between 1977 and 1982. Marline results obtained from semi-quantitative analysis yielded values of up to 10% total rare earth oxide (“TREO”) with dysprosium oxide (“Dy2O3”) values over 3%. SMDC followed up Marline’s efforts with trenching and sampling that yielded assays as high as 7.82% TREO with a Dy2O3 value of 0.89%.
In August 2009, a Company exploration crew located the main SMDC trench and took a combination of chip and panel samples with the initial goal of confirming the historic assay values. The trench is approximately 17m long and 5m wide in medium-grained hematitic sandstone. Areas for chip and panel sampling were selected based on scintillometer readings for total radioactivity with sampling focused on areas with higher-than-background readings.
Samples were processed at the Saskatchewan Research Council (“SRC”) laboratory in Saskatoon, SK, an ISO accredited institution. Standards and duplicate samples were employed and analyzed by lithium metaborate/tetraborate fusion and nitric acid digestion followed by ICP-MS analysis. The program was successful in confirming the historic assays of mineralization in the trench, with values as high as 8.75% TREO including Dy2O3 assayed at 1.15%. Assay results are presented in the table below:
Sample No.
Sample
Type
LREO%
HREO%1
incl
Dy2O3%
TREO%2
HREO/TREO
202608
Chip
0.02
3.59
0.44
3.61
99.4%
202609
Chip
0.01
6.31
0.82
6.32
99.8%
202610
Chip
0.01
8.74
1.15
8.75
99.9%
202611
Chip
0.02
5.84
0.74
5.86
99.7%
202612
Chip
0.01
1.15
0.14
1.16
99.1%
202613
Chip
0.01
4.24
0.54
4.25
99.8%
202614
Chip
0.01
1.41
0.17
1.42
99.3%
202615
Chip
0.01
3.02
0.39
3.03
99.7%
202616
Chip
0.01
3.46
0.45
3.47
99.7%
202617
Chip
0.01
5.07
0.64
5.08
99.8%
202618
Chip
0.01
3.55
0.46
3.56
99.7%
202619
Chip
0.01
4.45
0.57
4.46
99.8%
202922
Panel3
0.01
0.07
0.01
0.08
87.5%
202923
Panel
0.01
1.90
0.23
1.91
99.5%
202924
Panel
0.01
0.07
0.01
0.08
87.5%
202925
Panel
0.01
0.02
0.01
0.03
66.7%
Notes
1. HREO represents total heavy rare earth oxides, comprising yttrium plus europium to lutetium as oxides.
2. TREO represents total rare earth oxides, comprising HREO plus lanthanum to samarium as oxides.
3. The panel sampling covered approximately 4 square metres of the west wall of the main trench and included mineralized and non-mineralized rock.
The heavy rare earth elements are critical to applications like permanent magnets, flat panel displays, lasers and energy efficient lighting. In particular, dysprosium is required to give a neodymium-iron-boron permanent magnet the ability to perform under high temperatures such as those experienced under the hood of a hybrid vehicle where the permanent magnet electric motor resides.
“With a 99% heavy rare earth distribution, Douglas River seems to be a unique heavy rare earth occurrence that could prove to be very important to the rare earth industry,” says Jim Engdahl, President and CEO of Great Western Minerals Group. Engdahl adds, “Most of the deposits currently being mined or developed do not have a significant distribution of heavy rare earths and as a result it is expected that these elements will be in short supply in the near future. An occurrence like Douglas River certainly brings balance to our portfolio of rare earth projects and may well prove to be the answer to expected global shortages of the heavy rare earths.”
John Pearson, MSc, PGeo, Vice-President Exploration for GWMG, is the qualified person responsible for reviewing the contents of this news release.
About Great Western Minerals Group Ltd.
Great Western Minerals Group Ltd. is a Canadian-based company with six rare earth exploration and development properties in North America with an option on a sizable additional property in South Africa. In addition, as part of the Company’s strategy to pursue a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing copper, nickel, cobalt and the rare earth elements.
For further information, please contact Ron Malashewski, Manager of Investor Relations at (306) 659-4516. Email inquiries should be made to info@gwmg.ca and the company website is located at www.gwmg.ca. Inquiries by direct mail should be addressed to Great Western Minerals Group Ltd., 226 Cardinal Crescent, Saskatoon, SK S7L 6H8.
some recent REE prices
http://www.lynascorp.com/page.asp?category_id=1&page_id=25
Anybody know what happened to Art2Gecko ???
He's been MIA for 2 months!
I think he's been kidnapped....
In with starter:
Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF)
The more the more $$$~
Re: Rare Earth Stocks
Few more rare earth stocks that are listed on the Canadian Stock Exchange for your reference.
Regards
TheChosenOne
Nice one..GDCRF sure moves quick~
Gold Canyon Enters Into Multiple Non-Disclosure Agreements on Rare Earth Prospects Throughout Scandinavia
http://finance.yahoo.com/news/Gold-Canyon-Enters-Into-iw-1341383556.html?x=0&.v=1
GWMGF - Great Western Minerals Group will be the first company outside of China to produce heavy rare earth minerals, a minor metals market consultant and analyst predicted at the company's annual meeting on Thursday. What's more, said Jack Lifton, GWMG will be selling those heavy rare earths to China by 2015. The country, which dominates the rare earth market, is set to consume all the rare earths it produces by around 2012 or 2013, leaving rare earth exports from China a thing of the past and opening the door for export opportunities to the world's most populous nation. "The fact is, there's so little produced and it's so desirable that I can tell you without reservation that the minute they start producing (rare earths), Chinese buyers will be there bidding on it," Lifton said about GWMG. "This is in a sense comical, everybody is worried about, 'The Chinese are going to cut us off,' but the Chinese are worried about their supply being inadequate." Lifton, who does not work for GWMG but follows the company closely, says the company's interest in Rare Earth Extraction's Steenkampskraal Mine in South Africa is one of the reasons it is so valuable. GWMG has the right to acquire exclusive access to 100% of the rare earth elements mined at the site, one which is expected to come into production within about 24 months. Rare earths are used in a variety of day-to-day applications such as television and computer screens. They're also key components of new magnet technology and hybrid car batteries. Rare earths are so important to the future of green vehicles that Toyota Tsusho -- the Toyota Group's sole trading company -- has signed a letter of intent with GWMG to co-operate on two of the company's most promising heavy rare earth element exploration properties: Douglas River in Saskatchewan and Benjamin River in New Brunswick. TTC representatives are visiting Saskatoon next week to meet with GWMG executives and tour the properties in question, said the company's president and CEO, Jim Engdahl. Hopes are high the two parties will extend their relationship, he said.
(Regina Leader Post 090914)
up to date REE prices...
http://www.lynascorp.com/page.asp?category_id=1&page_id=25
http://news.alibaba.com/article/detail/business-in-china/100169407-1-rare-earths-become-rare.html
Rare earths become rare
Published: 10 Sep 2009 12:02:02 PST
Illustration: Peter C. Espina
By Sun Wei
China's rising strength in rare-earth minerals supply, and its willingness to use that as "a 21st-century economic weapon," have attracted much attention in the past few weeks.
The world's dominant-rare earth minerals producer, China produces more than 93 percent of the global supply of rare-earth metals, a group of 17 "lanthanide" elements essential in high-tech devices and green products.
China's Ministry of Industry and Information Technology is drafting a "Rare-earth Industry Development Plan 2009-2015," pressuring the rare-earth industry to consolidate to become more efficient and less polluting.
Against such background, strategic thinkers in Western countries are starting to worry that China could impose a total ban on exports of terbium, dysprosium, yttrium, thulium, and lutetium, and may restrict foreign sales of other rare-earth metals.
US technology news magazine Wired quoted an old piece of wisdom from the Strategic Air Command as saying, "When you have them by the balls, their hearts and minds will follow."
"China's regulation of its rare-earth metals industry does not aim at subduing any country, but protecting China's national resources, " Zhou Shijian, senior researcher at the China-US Relations Research Center of Tsinghua University, told the Global Times. "The cheap export era should have ended. It is high time, and China has been waited for a long time."
Powers' metals strategic
Fifty years ago, the world economy was established on steel, aluminum and iron. Today, rare-earth metals are reshaping the world economy.
Rare-earth metals are the key to 21st century technology. "Without them, we wouldn't have smartphones, hybrid cars or precision weapons," according to Wired.
China's decision could cause a crisis for high-tech development, according to Britain's Daily Telegraph newspaper.
The newspaper report says global energy competition has entered a new stage, because nations are already experiencing difficulties in acquiring rare raw materials.
Strategic metals are also closely related to sensational techniques.
In July, Chinese border police seized a quantity of the strategic metal vanadium bound for North Korea, foiling an attempt to smuggle a material used to make missile parts.
Vanadium is a metal that strengthens steel and protects against rust. It is alloyed with steel to make missile casings, as well as high-speed tools, superconducting magnets and jet engines.
China restricts the export of vanadium and other minor metals as part of a domestic policy meant to preserve strategic metals, encourage investment in processing industries and control international price fluctuations.
West preserved for years
While China is just starting to acknowledge the strategic value of rare-earth metals, developed nations have long been storing up their own strategic reserves.
As the world's second-largest rare-earth metals holder, the US accounts for nearly 12 percent of worldwide stocks. Early in 1981, the US categorized the metals that are of great importance to the economy and warfare and categorized them as strategic metals.
The administration of former US president Ronald Reagan spent $100 million buying strategic resources, including 62 kinds of minerals, metals and other raw materials.
Since 1999, the US began halting production for strategic and environmental concerns. By importing, the US protects its mineral reserves, according to CCTV.com.
Japan imports nearly all its rare-earth elements from China, with two thirds of its annual imports in reserve for strategic purposes. Since 1983, Japan put seven rare-earth metals into reserve, including nickel, chromium, tungsten, molybdenum, cobalt, manganese and vanadium.
Australia and Canada are also tightening the mining of rare-earth metals, and importing from China for their reserves.
Consumers avoid 'hot water'
Demand for rare-earth metals is forecast to increase by between 10 and 20 percent each year, on the back of growing demand for metals such as neodymium, used to make hybrid electric vehicles and generators for wind turbines.
Japan sees the rare-earth elements as a probable battleground for future trade wars.
The Japan Agency for Marine-Earth Science and Technology has begun developing three robots to search for rare metals, the Asahi newspaper reported.
The government-affiliated organization plans to spend about 3 billion yen on the project. The deep-sea exploration robots, expected to be operational by 2011, will look for rare metals, such as zinc, germanium, manganese, cobalt and nickel, which are used in electronic devices, alloys and other products.
Mines in the US that were forced out of business by price wars may be brought back into use. US-based Molycorp Minerals is preparing to resume mining of rare-earth ore deposits at a California facility, Wired reported.
The Pentagon is likely to take a closer look at this issue. The House and Senate versions of the National Defense Authorization Act – currently awaiting resolution – both contain measures that would require the Department of Defense to study the military applications of rare-earth metals.
A handful of Canadian mining companies are exploring for new supplies in South Africa, Brazil and the US while pushing ahead with existing projects.
Time to realize the value
As fear and criticism of China accumulate, developed nations have hardly mentioned the benefits they have won from China's cheap prices.
"China has not realized the precious value from a strategic perspective," Shen Dingli, a Chinese expert at Fudan University, told the Global Times. "Strategic metals match strategic industries. We own the dominant reserves of rare-earth in the world, but we didn't protect them well."
China produces about 93 percent of global supplies of rare-earth metals, with a single mine in Baotou, in China's Inner Mongolia, producing half of the world's supply.
Former Chinese leader Deng Xiaoping once observed that the Middle East had oil, while China had rare-earth elements. Owning 71 percent of world reserves of rare-earth minerals, China is the only country that can offer 17 different kinds of rare-earth elements. China has incomparable potential in this sector, even compared with the Organization of the Petroleum Exporting Countries (OPEC), which holds 69 percent of the world's oil reserves.
But China has no OPEC-style organization to contribute to pricing rights. Instead, most of the time, rare-earth minerals are over-exploited under an open policy.
Some of the minerals crucial to green technologies are extracted in China using methods that inflict serious damage on the local environment. China dominates global rare-earth production partly because of its willingness until now to tolerate highly polluting, low-cost mining, the New York Times reported.
According to the Financial Times, China produced 96 percent of the world's rare-earth metals in 2005, of which 60 percent was exported. As the exports decreased tenfold this year compared with in 1998, the price has dropped by 36 percent.
"China has been selling these precious rare-earth metals at a dirt-cheap price for 20 years, " Dai Xu, an expert on military issues, told the Global Times.
"Regulations should be brought into force to limit the exploitation of the mines," Shen said, adding that exploiting the mines can damage the environment and, at the same time, endanger China's strategic economic security.
"Strategic metals are pivotal to the future of great powers," Dai said, adding that the control of resources of future techniques indicates the control of the future.
"It is time for China to upgrade the protection of rare earths to a national strategic level," Dai said.
Agencies contributed to this story
GWMGF - The global Rare Earth Elements (REE) sector is a multi-billion dollar industry. Great Western Minerals
Group (GWMG) is taking a leadership role in a potentially lucrative niche sector populated with only very
few participants and no competitors with GWMG’s unique “Mine-to-Market” Strategy (M2M).
The Challenge for REE users: An Impending Rare Earth Element Shortage:
Global industry giants across a wide range of sectors are extremely concerned about the impending
shortage of REE. Those giants need REE to maintain leadership in their respective sectors. China
currently controls the REE sector as the primary supplier to the global industry, producing over 97% of the
world's supply of REE. In 2012-2013, the demand for REE is expected to exceed supply as China is
expected to consume all that it produces. Lack of access to secure supply could be economically crippling
for many global industries that rely on REE.
The Solution: Great Western Minerals Group:
GWMG is in the right place at the right time, with an experienced Management Team, exploration and
development properties in Canada and the US, along with value-added production facilities of Great
Western Technologies in Troy, Michigan and Less Common Metals in Birkenhead, UK.
The Rare Earth Elements:
The Rare Earth Elements are also known as the Lanthanide Series of Elements and include the 15
elements in the Lanthanide series, plus Yttrium and Scandium. REE are used in a wide range of
applications, from everyday household items, such as rechargeable cell phone batteries and computers,
industrial uses in magnets and catalysts, to cutting-edge technologies such as super-alloys for the
aerospace and defense industries, to manufacture a wide range of products including electronics, electric
and hybrid vehicles, wind turbines, medical devices (eg, MRIs), defense systems and many other
advanced technology applications.
Industry Overview:
The major consumers of REE are Southeast Asia (Japan (22%), Korea, Thailand, China (60%)) and the
USA (9%). The USA currently imports nearly 100% of its REE requirement. The gross value of REE
production worldwide is estimated at US$1.8 billion. According to the USGS, the trend is for a continued
increase in the use of REE in many applications, especially automotive catalytic converters, permanent
magnets used in hybrid vehicles and wind turbines, and rechargeable batteries.
Nickel-Metal Hydride (NiMH) alloys are a vital component in the rechargeable battery units of hybrid
vehicles. The REE content of a NiMH battery for hybrid vehicles is now estimated to be about 20 kg, most
of which is Lanthanum mischmetal.
There has been the rapid growth in demand for Neodymium-Iron-Boron (NdFeB) magnets, which has
exceeded 15% per year. The permanent magnets used in the motor and generators in hybrid vehicles
require between 1.5 kg and 4 kg of sintered NdFeB per vehicle. In the newer models of hybrid vehicles,
the REE content is now estimated to be approximately 30 kg per vehicle, due to the increased number of
motors and other magnetic devices used in the vehicles.
Key Participants, Competitors and Peers:
In the global REE exploration sector there are only a handful of active private or publicly-traded
companies. In addition to Great Western Minerals Group (Canada), these include Avalon Rare Metals
Ltd. (Canada), Lynas Corporation Ltd. (Australia), and Arafura Resources Ltd. (Australia). Molycorp
Minerals LLC is a major, private company that recently purchased a proven primary REE resource - the
Mountain Pass rare earth operation in California.
China is a significant producer of many REE products but LCM remains well ahead of the capabilities of
any of the Chinese alloy producers. There are other producers of REE products worldwide, but LCM also
has several advantages over those competitors.
Company Overview:
In addition to its four exploration projects in North America, GWMG owns production facilities in the
United States and the United Kingdom which provide specialized alloys and other products for a wide
range of industries. GWMG has a knowledgeable, experienced Management Team, Board of Directors,
and Advisory Board with extensive experience in all aspects of the business, including exploration and
development, mining operations, specialized product development, sales and marketing. The Company
has an established customer base of well-known, blue chip global users in the battery, magnet,
aerospace and nuclear industries.
Properties:
GWMG has a portfolio of properties which also includes several base metals and strategic metals
properties that the Company had acquired since inception.
Hoidas Lake is GWMG’s initial REE project, located 50km, northeast of Uranium City in Northern
Saskatchewan. This is an advanced property with a proven resource which is being further developed. A
NI 43-101 Compliant Resource Report has been prepared and work continues to advance this project. A
Metallurgy Study is also underway to optimize previously defined processes, and examine new potential
alternatives to the extraction of rare earths from the Hoidas Lake mineralization.
The Preliminary Economic Assessment Report (PEAR) is being developed and will be updated, based on
results from metallurgical testing and the 2008 winter exploration drilling program. Completion of the
current stage of the PEAR leading to a Hoidas Lake Feasibility Study is dependent upon the successful
completion of metallurgical testing and optimization of defined processes. Permitting efforts would be
initiated once the final feasibility study is completed and a decision to proceed with the project is made.
The Steenkampskraal Rare Earth Mine. In January 2009, GWMG entered into an option agreement
with Rare Earth Extraction Co. Ltd. (“Rareco”) of Stellenbosch, South Africa, to refurbish, re-commission,
and operate the currently abandoned Steenkampskraal underground mine in the Western Cape, South
Africa. An updated feasibility study is nearing completion and is expected to be submitted in Q4 2009.
The existing Steenkampskraal Mining Licence covers 474 hectares. The property is located
approximately 70 km north of the town of Vanrhynsdorp, population 4,000, in the Western Cape Province
of South Africa and is approximately 350 km north and west of Cape Town. Infrastructure is excellent,
with access to the site by paved and gravel roads and close proximity to rail and sea-port; the
governments are pro-development, and there is technical expertise available as well as a trainable work
force.
The main rare earth-bearing mineral is monazite and is hosted by an igneous intrusive dyke system. The
mineral deposit is tabular in shape with a known strike length of 400m and has been traced down dip for
250m. Thickness ranges from 0.3m to 4.0m and the average in-situ grade is 16.74% total rare earth
oxide (“TREO”), making it one of the highest grade rare earth deposits known to exist. The deposit also
contains significant amounts of copper, gold and phosphate which could be recovered as by-products.
Very little exploration work has been done on the property and the deposit remains open along strike and
at depth.
The Deep Sands project is a 168 km2 (65 mi2), Iron and REE-enriched mineral sand in west central
Utah. The project area is 190 km (120 miles) SW of Salt Lake City and about 135 km (85 miles) NW of
Delta Utah. Two drilling programs have been completed and an evaluation of the data compiled is
expected to be completed by year end, with the intention developing a NI 43-101 resource report.
The Douglas River Property consists of two claims (totalling 803 hectares) approximately 21 km south of
the former Cluff Lake Uranium mine and approximately and 420 km NW of La Ronge SK. Historic trench
sampling yielded rare earth element grades of up to 10% yttrium with accompanying high grades of heavy
rare earths (“HREE”) including Dysprosium with grades up to 0.89%. Dysprosium is the most sought after
REE by the Japanese magnet manufacturers. The planned exploration program includes geological
mapping, trenching, soil and lithogeochemistry in order to identify drill targets.
The Benjamin River rare earth element project is located approximately 53 km west of Bathurst, New
Brunswick. The property consists of 493 claim hosting a heavy rare earth element enriched, apatitediopside-
magnetite vein. Access to the property is via paved highway and logging road. Additional
infrastructure includes a railroad within 10 km, ports within 50 km, and power lines also within 2 km. The
heavy rare earth elements such as dysprosium are critical to the production of high temperature
permanent magnets used in hybrid vehicles.
In July, 2009, GWMG signed a Letter of Intent with Toyota Tsusho Corporation to examine the merits of
jointly conducting exploration and development activities on GWMG’s Douglas River and Benjamin River
exploration projects.
The Misty Property consists of a single exploration license in northwest Manitoba approximately 20 km
northwest of Lac Brochet, MB and 240 km NW of Lynn Lake, MB. In June 2008, GWMG entered into a
C$6 Million option agreement with CanAlaska Uranium whereby GWMG can acquire up to a 51% interest
in CanAlaska’s Misty Project upon the completion of a prescribed exploration program.
Value-Added Processing Facilities:
Less Common Metals is a profitable, leading global manufacturer and supplier of rare-earth-based
alloys, high purity metals, and ultra-high-purity indium. LCM has established excellent long term
relationships with a wide range of blue-chip customers who operate in technically demanding industries
such as automotive, aerospace, nuclear and defense.
Other specialty alloys produced in Birkenhead include Neodymium-Iron-Boron and Samarium Cobalt
alloys for the permanent magnet industry, magneto-optic and magnetostrictive materials, hydrogen
storage systems, high purity Rare Earth metals, ultra high purity Indium, and master alloys used in the
production of other specialty alloys. LCM manufactures approximately 20% of the estimated global
consumption which is estimated at 1,000 tonnes per annum (tpa). Production at the Birkenhead Plant for
the 30 June 2008 year end was 430 tonnes of alloy and metals. The plant has the capacity to produce
approximately 1,110 tpa.
Great Western Technologies is an ISO 9001:2000-certified research and manufacturing facility with
state-of-the-art engineering technology for the production of REE materials, powders, and custom
vacuum-grade specialty alloys. From its 12,000 ft2 manufacturing facilities in Troy MI, GWTI produces a
wide range of alloys utilizing rare earths and aluminum, copper, cobalt, iron, nickel and titanium. In
addition, GWTI manufactures special alloys for the Battery Industry and Hydrogen Storage Applications.
GWTI provides special processes for a wide range of applications.
GWTI is one of few facilities in North America that can produce ground powders in an inert environment,
and has the capability to provide materials of exceptionally high purity with its vacuum melt furnaces. The
GWTI plants have four hydrogen-safe areas that can be used to activate hydrogen storage materials.
Growth Strategy:
With its diversified business model and unique M2M strategy, GWMG has developed a growth strategy
for exploration, mine development, and value-added product sales.
There are several ways in which GWMG continues to implement its growth strategy, including continued
development of its existing properties through advanced exploration to increase its resource base, and
potentially increasing production or extending mine life.
GWMG has well-defined criteria for evaluating new REE prospects as potential additions to its portfolio.
Joint Venture Agreements or Option Agreements are effective ways to develop resources while mitigating
risk. Such agreements can be terminated or allowed to lapse at any time, without incurring further
expense, if the property does not show potential, even after a preliminary amount of work is completed.
GWMG is regularly approached by other exploration companies which are exploring for other metals, but
discover REE in their assays. These companies may not have the expertise in developing this resource,
but recognize the economic potential with the right partner. These also represent growth opportunities for
GWMG.
Fast-Track Mine Development: Acquire Existing Mining Operations: GWMG has the expertise to
conduct technical and economic evaluations of existing mining facilities in the rare earth sector, globally.
Having ownership of its own value added facilities would place GWMG in an excellent position to consider
re-commissioning such mines to accelerate access to a secure supply of REE. GWMG is currently
evaluating some past producers of REE.
Strategic Partnerships: Alternative Sources of REE: Rare Earth Elements are commonly found as
byproducts in several deposit types including uranium and cobalt deposits. In these deposits, REE are
commonly discarded because the operating company does not have the knowledge of either the recovery
or marketing of the REE. As a result there is an opportunity for GWMG to enter into mutually-beneficial
Joint Venture agreements to recover the REE which could provide additional revenue for the operating
company and a supply of REE for GWMG’s processing facilities.
Strategic Partnerships: End Users: Several industrial end-users have approached GWMG to discuss
strategic relationships to provide end users with access to REE from GWMG’s operations. In general,
these companies could provide capital to GWMG in return for an off-take agreement for specific rare earth
products.
Less Common Metals and GWTI: The recent acquisition of LCM by GWMG creates an excellent
opportunity for cross-selling and marketing for LCM and GWTI. In addition, LCM and GWTI will further
expand their product development to introduce new products to its existing customers while expanding
their customer bases.
Summary:
Great Western Minerals Group and its value-added production facilities of Less Common Metals and
Great Western Technologies are in the unique position of establishing themselves as global leaders in
developing a rare earth industry outside of China. The global fundamentals point to an impending
shortage of rare earth elements, which could potentially jeopardize the technological leadership held by
many of the existing industry end users. Through the successful implementation of the Company’s mineto-
market strategy, Great Western Minerals can establish itself in a leadership role and meet many of the
demands for rare earth elements in many years to come.
Certain statements in this document may include “Forward-Looking Statements”. Forwarding-looking statements are based on
current expectations, estimates, forecasts and projections of future company or industry performance based on management’s
judgment, beliefs, current trends and worldwide market conditions.
Forward-looking statements include, but are not limited to, Great Western Minerals Group’s continued advancement of its mineral
exploration and development programs. When using this document, the words “potential,” “anticipate,” “forecast,” “believe,”
“estimate,” “expect,” “may,” “project,” “plan” and similar expressions are intended to be among the statements to identify forwardlooking
statements.
Although Great Western Minerals Group believes that its expectations reflected in these forward-looking statements are reasonable,
such are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict,
such as general market financial, economic, regulatory and political conditions.
Actual outcomes and results may differ materially from what is expressed, forecasted or implied in the forward-looking statements.
Great Western Minerals Group undertakes no obligation to update any forward-looking statements, whether as a result of new
information, future events or otherwise.
Jack Lifton - REE Presentation at Great Western Minerals Group AGM / Sept 10
Part 1:
Thanks..sector is going to be hot for years to come~
MSN's Jubak column on Rare Earth:
http://articles.moneycentral.msn.com/Investing/JubaksJournal/a-rare-opportunity-in-mining-stocks.aspx
Love this... "TTC representatives are visiting Saskatoon next week..."
Great Western Minerals Group rocks on
Sask. company poised to become bigger player in rare earth minerals
Cassandra Kyle
The StarPhoenix
Friday, September 11, 2009
Great Western Minerals Group Ltd. ((TSX VENTURE:GWG) (PINK SHEETS:GWMGF) will be the first company outside of China to produce heavy rare earth minerals, a minor metals market consultant and analyst predicted at the company's annual meeting on Thursday.
What's more, said Jack Lifton, GWMG will be selling those heavy rare earths to China by 2015. The country, which dominates the rare earth market, is set to consume all the rare earths it produces by around 2012 or 2013, leaving rare earth exports from China a thing of the past and opening the door for export opportunities to the world's most populous nation.
"The fact is, there's so little produced and it's so desirable that I can tell you without reservation that the minute they start producing (rare earths), Chinese buyers will be there bidding on it," Lifton said about GWMG.
"This is in a sense comical, everybody is worried about, 'The Chinese are going to cut us off,' but the Chinese are worried about their supply being inadequate."
Lifton, who does not work for GWMG but follows the company closely, says the company's interest in Rare Earth Extraction Co. Ltd.'s (Rareco) Steenkampskraal Mine in South Africa is one of the reasons it is so valuable. GWMG has the right to acquire exclusive access to 100 per cent of the rare earth elements mined at the site, one which is expected to come into production within about 24 months.
Rare earths are used in a variety of day-to-day applications such as television and computer screens. They're also key components of new magnet technology and hybrid car batteries.
"Rare earths are not going to be substituted because rare earths are the substitute," Lifton said of the growing green market in which rare earths are beginning to play a more dominant role.
"The periodic table, folks, is now closed. No more entrance. We're stuck with what we've got."
MEETING WITH TOYOTA CORP.
Rare earths are so important to the future of green vehicles that Toyota Tsusho Corp. (TTC) -- the Toyota Group's sole trading company -- has signed a letter of intent with GWMG to co-operate on two of the company's most promising heavy rare earth element exploration properties: Douglas River in Saskatchewan and Benjamin River in New Brunswick.
TTC representatives are visiting Saskatoon next week to meet with GWMG executives and tour the properties in question, said the company's president and CEO, Jim Engdahl. Hopes are high the two parties will extend their relationship, he said.
"It will be our intention to complete a joint venture with them to develop these properties," Engdahl said. "They're junior properties but they're very promising in the heavy rare earths sector."
Despite the attention some of the company's properties have been receiving of late, GWMG still looks at its Hoidas Lake property in northern Saskatchewan as its flagship project in the province. Engdahl said metallurgical testing on samples from the property are underway and as soon as issues surrounding the elemental make-up of the site are resolved, production could start in three to four years after all the testing is complete.
Although GWMG is making headlines in recent weeks, the past year was difficult for the company as it struggled, like so many others, in conditions imposed by the global economic slowdown.
"It was an exceptionally tough year because of the financial situation, but we're getting money poked at us from all over North America, if not the world, right now from investment bankers, hedge funds wanting to invest in us now," Engdahl said. "So it's substantially changed our view of the world in the last few months."
Both the company's share value and trading volume on the TSX has risen as of late as the world begins to comprehend the idea that rare earths will be in short supply in a few years. On Tuesday, nearly 19 million GWMG shares traded on the stock market, a record for the company.
GWMG's shares on the TSX closed Thursday at 31.5 cents, up 3.5 cents, or 12.5 per cent, from Wednesday.
ckyle@sp.canwest.com
GWMGF - Canadian Firms Step Up Search for Rare-Earth Metals
September 9, 2009
BANGALORE — China may lose its near-monopoly on producing so-called rare-earth metals used in hybrid cars and computer hard disks as a host of smaller Canadian companies develop fresh sources of supply over the coming years.
The drive to open new mines comes as Beijing shows signs of tightening restrictions on exports of the metals. Their great magnetic capacity and resistance to high temperatures make the minerals essential components in a variety of technologies, including fuel-efficient cars and wind energy turbines.
Demand for rare-earth metals is likely to increase between 10 percent and 20 percent each year, analysts say, thanks to growing demand for elements like neodymium, which is used in making hybrid electric vehicles and generators for wind turbines.
But supplies are limited. China, which produces about 97 percent of world’s rare-earth metals, curbs exports through quotas and additional duties. In addition, rare-earth metals like neodymium, terbium, dysprosium and yttrium are difficult to mine and process.
Against that backdrop, a handful of Canadian miners are exploring for new supplies in South Africa, Brazil and the United States while pushing ahead with existing projects. Their success could ease fears that manufacturers may find themselves with few, if any, reliable sources of vital rare-earth metals. Such concerns have also raised the share prices of many of these speciality miners.
“There has been increased interest to look into ways to mine rare earth out of China, specially given the protectionism China is applying to its resources,” said Frederic Bastien, an analyst at Raymond James.
Great Western Minerals Group (GWMGF), Rare Element Resources, Avalon Rare Metals and Neo Material Technologies are among the Canadian companies exploring for resources outside China. Their shares have surged in recent weeks amid strong volumes.
Analysts say the rally is partly fueled by speculation that these companies would stand to gain if China goes ahead with proposed export curbs.
In August, China’s Ministry of Industry and Information Technology submitted a report on its rare-earth industry that includes proposals for further restrictions on exports and an outright ban on foreign shipments of a few key rare-earth metals.
But surely, Mr. Bastien said, companies face an uphill task to make their projects commercially viable, and it could take a few years for them to do so.
Jack Lifton, an independent rare-earth metals expert, said that China had reduced exports of the metals since 2004. If that policy continues, the world could face a huge shortfall.
“At end of 2015, China will no longer be exporting rare-earth metals,” he said. “If the West has not found its own manufacturing, then the West will be no longer making rare-earth-based end products.”
Rare-earth metals companies outside China, mostly based in Canada, Australia and the United States, expect to begin their projects in next three to four years.
By 2014, said James Engdahl, chief executive of Great Western Minerals (GWMGF), China will essentially have shut off exports of the minerals because its industries will be requiring everything produced there. “We as a company have been preparing for that.”
The junior explorer, (GWMGF) which owns rare-earth properties in Canada and is based in the province of Saskatchewan, now gets raw materials from China to feed alloy plants in the United States. It expects to start production of the metals from its South African project within the next three years.
Constantine Karayannopoulos, chief executive of Neo Material Technologies, one of the few Western companies to have rare-earth processing plants in China, said that China would continue to regulate the sector.
However, he said he did not expect a complete ban on exports of heavy rare-earth metals like dysprosium and terbium.
Analysts expect demand for the metals to skyrocket as they are used in hybrid cars to preserve magnetic properties of metal alloys at high temperatures.
“The draft report is more sort of a flagpole test for reaction reflecting Chinese policy,” Mr. Karayannopoulos said.
“I think for any modern state and any state signatory to the W.T.O.,” he said, referring to the World Trade Organization, “restricting the export of any material which has a stranglehold in the world is just a nonstarter.”
That said, the relationship that Neo Material has cemented with Mitsubishi suggests the level of concern within Japan about Chinese rare-earth supplies.
Neo Material, which is also involved in development of heavy rare-earth resources at the Pitinga tin mine in Brazil, has signed an agreement with Mitsubishi under which the two companies would explore outside of China. The Japanese company is also financing development costs of Neo’s Brazil project.
Japan is one of the largest consumer of rare-earth metals, using them mainly in manufacturing batteries, cameras and laser equipment.
spark, you were ahead of the curve with REE's...
Toyota eyeing rare earth metals at a Bathurst-area property to use in hybrid cars
Published Tuesday September 8th, 2009
A Toyota Motor Corp. (subsidiary has signed a letter of intent with a mining firm to look at exploring and developing a Bathurst-area deposit for minerals used in hybrid cars.
Tomohiro Ohsumi/Bloomberg NewsToyota's Prius makes up half the hybrid car sales on the market, having sold over one million cars in its lifetime, so far. Gary Billingsley Great Western Minerals Group, (TSX VENTURE: GWG) (PINK SHEETS: GWMGF, a Saskatchewan company with interests in New Brunswick, recently announced that the Japanese automaker's materials sourcing division is eyeing rare earth metals from the Benjamin River property.
Rare earths – elements numbered 57 to 71 on the periodic table – are used in various high-tech applications, including in permanent magnets for electric motors of hybrid vehicles.
Gary Billingsley, the chairman of Great Western Minerals, said car companies are looking at deposits outside China for the coveted metals as that country – which controls about 97 per cent of the global output – shores up the resource for domestic consumption.
"In the rare earth industry, by and large, over 30 per cent of the demand is driven by the auto industry," Mr. Billingsley said.
Great Western Minerals' agreement with Toyota Tsusho Corp. will mean the Nagoya-based company will visit the New Brunswick property and another in Saskatchewan, likely this month.
The firm's geologist will take samples and run tests, discovering what Mr. Billingsley hopes will be a promising enough resource to move forward in a partial-ownership mining joint venture.
"Part of the arrangement probably would be that we would guarantee them a minimum percentage of the output," he said.
Great Western Minerals announced in January it had plans to explore for rare earths on the Benjamin River property northwest of Bathurst.
David Lentz, a University of New Brunswick geology professor and rare earth expert, said the car industry is late to the game in sourcing rare earths – increasingly in demand by a variety of sectors – for hybrid and electric cars.
"Many people in the minerals industry are really surprised that the manufacturing industry hasn't grabbed onto this as fast as they should have," he said.
Continued Prof. Lentz: "Nobody has seemed to get that these very strong magnets need these elements and you cannot just get them anywhere They are a scarce commodity."
According to Tony Faria, director of the Office of Automotive Research in the Odette School of Business at the University of Windsor, though the hybrid vehicle industry is small – making up about 2.5 per cent of the U.S. market last year – it is growing.
"Certainly all of the companies are moving little by little into hybrid vehicles of one sort or the other, or into pure electric vehicles," he said.
"A big part of that is new fuel-economy standards being established in countries around the world."
I will update the iBox over the weekend and add that one..am not surprised Australia is sitting on tons of the stuff..very nice play~
http://finance.yahoo.com/q?s=LYSCF.PK
Should be in the ibox. Did you get some on the pullback?
GWMGF - MONSTA IN DA MAKIN~ http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41210766
Commerce Resources Corp. Identifies Rare Earth Zone at Eldor, Quebec
Press Release
Source: Commerce Resources Corp.
On Friday September 4, 2009, 11:30 am EDT
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-1281967649.html?x=0&.v=1
VANCOUVER, Sept. 4 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company" or "Commerce") announces that the summer field program has resulted in the identification a new rare earth (REE) zone at the Eldor Project in northern Quebec, Canada. The new zone, called the Ashram Peninsula, is associated with an approximately 1 km wide by 0.8 km long magnetic low where mineralization was discovered in outcrop with assays greater than 1.00 % REE+Y consistently returned over multiple samples. The area is also the postulated source for an adjacent glacially dispersed mineralized boulder train in which sampling previously returned assays as high as 4.18% REE+Y. Because of the potential significance of this new discovery, the Company is mobilizing a field crew for immediate follow-up sampling. A mapping, prospecting and sampling program will be completed in order to define drilling targets.
A map showing the location of the Ashram Peninsula along with rock samples is available for download at: http://www.commerceresources.com/s/Eldor.asp
The Company is also pleased to report that summer prospecting produced a boulder assay of 1,408 g/t tantalum (Ta(2)O(5)), 6,171 g/t niobium (Nb(2)O(5)), and 0.16% uranium (U(3)O(8)) in the vicinity of the single drill hole drilled at the Star Trench Area in 2008 (EC08-025). The presence of such high grade mineralization points to the niobium-tantalum potential of the zone and the larger property that continues to be evident.
Summer Exploration Program Results
A total of 61 rock, 48 trench, and 5 soil samples were collected during the summer field program from various locations at the property. In addition, 102 drill core samples were collected from previously unsampled drill core, to provide additional information on non-radioactive, niobium-tantalum mineralized zones.
Rock sampling at a 1 km by 0.8 km magnetic low helped identify the new Ashram Peninsula REE mineralized zone. The zone has been defined by multiple outcrop samples returning greater than 1% REE+Y and is adjacent to a glacially dispersed boulder train that returned assays of up to 4.18% REE+Y. Soil samples were collected at locations where rock sampling was not possible. Of the five samples collected, two returned greater than 0.80% REE+Y (0.85% and 1.07%).
The high rare earth values at the Ashram Peninsula are generally within a moderately radioactive, fine-to very fine grained, massive, grey-green carbonatite. Variable amounts of fluorite, disseminated pyrite and other unknown minerals are present. Rare earth mineralization has previously been reported at the Eldor Property within the minerals monazite ((La,Ce,Nd)PO(4)), bastnasite ((Ce,La,)CO(3)F) and xenotime (YPO(4)). Thin sections from the 2009 samples are currently being selected for mineralogical analysis, which will be completed this fall.
In addition to the rare earth zone discovered during the summer program, the presence of significant tantalum-niobium mineralization on the Eldor Project continues to be evident. Summer prospecting at the Star Trench area produced a boulder assay of 1,408 g/t Ta(2)O(5), 6,171 g/t Nb(2)O(5), 0.16% U(3)O(8). Additionally, prospecting at the Southeast Zone in the area of drill hole EC08-025 discovered a large area of highly anomalous radioactivity. Boulder samples in this area, believed to be locally derived and possibly frost heaved, assay consistently higher than 200 g/t Ta(2)O(5) to a high of 1,153 g/t.
Exploration Plans
Based on the encouraging results, a crew is being mobilized for follow-up sampling and is expected to be on site by early to mid-September 2009. A mapping, prospecting and sampling program will be completed with a focus on the significant rare earth values discovered in the vicinity of the Ashram Peninsula in order to define drilling targets.
The diverse array of mineralization found in the Eldor Complex is not uncommon to these types of systems. Carbonatites are very rare and unique rock types, with approximately 500 complexes known worldwide. Often containing a variety of exotic minerals, carbonatites have been known to produce economic concentrations of rare earth elements, niobium, copper, iron, apatite, vermiculite and fluorite; with significant associated commodities which may include barite, zircon, tantalum, gold, silver, uranium, nickel and platinum group elements.
Alex Knox, P.Geol. a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"David Hodge"
David Hodge
President and Director
Tel: (604) 484-2700
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that the discovery of a new rare earth zone on the Eldor Property is potentially significant, that a mapping, prospecting and sampling program is to be completed in September, 2009 in order to define drilling targets and that mineralogical analysis of the 2009 samples will be completed this fall.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
For more information, contact Investor Relations: Tel: (604) 484-2700, Email: info@commerceresources.com, Web: http://www.commerceresources.com
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Rare earth elements became known to the world with the discovery of the black mineral ytterbite (also known as gadolinite) by Lieutenant Carl Axel Arrhenius in the year 1787, in a quarry in the village of Ytterby, Sweden.[2] Many of the rare earths are named for the scientists who discovered or elucidated the elemental properties, or for their geographical discovery, or for Latin or Greek references, or for mythical references:
The following abbreviations are often used:
Until 1948, most of the world's rare earths were sourced from placer sand deposits in India and Brazil.[6] Through the 1950s, South Africa took the status as the world's rare earth source, after large rare earth bearing veins were discovered in Monazite.[6] Today, those Indian and South African deposits still produce some rare earth concentrates, but they are dwarfed by the scale of Chinese production. China now produces over 95% of the world's rare earth supply.[5]
The use of rare earth elements in modern technology has increased dramatically over the past years. For example, dysprosium has gained significant importance for its use in the construction of hybrid car motors.[7] Unfortunately, this new demand has strained supply, and there is growing concern that the world may soon face a shortage of the materials.[8] All of the world's heavy rare earths (such as dysprosium) are sourced from Chinese rare earth sources such as the polymetallic Bayan Obo deposit.[9] Illegal rare earth mines are common in rural China and are often known to release toxic wastes into the general water supply. [10]
The rare-earth elements are defined as a group of chemical elements composed of scandium, yttrium, and the lanthanides. The lanthanides are a group of 15 chemically similar elements with atomic numbers 57 through 71, inclusive. Although not a lanthanide, yttrium, atomic number 39, is included in the rare earths because it often occurs with them in nature, having similar chemical properties. Scandium, atomic number 21, is also included in the group, although it typically occurs in rare- earths ores only in minor amounts because of its smaller atomic and ionic size.
Rare-earths production is derived from the rare-earths ores bastnasite, monazite, xenontime, and ion-adsorption clay. Bastnasite is the world's principal source of rare earths and is produced in China and the United States. Significant quantities of rare earths are also recovered from the mineral monazite. Xenotime and ion-adsorption clays account for a much smaller part of the total production but are important sources of yttrium and other heavy-group rare earths. MORE: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40030198
Lanthanum
Cerium
Praseodymium
Neodymium
Samarium
Europium
Gadolinium
Terbium
Dysprosium
Holmium
Erbium
Thulium
Ytterbium
Lutetium
Scandium
Yttrium
http://www.baotou-rareearth.com/index.html
http://www.australianrareearths.com/
CERIUM
http://www.youtube.com/watch?v=nYNA3OZhiJ8
Cerium/ Lanthanum
http://www.youtube.com/watch?v=kPpqet4Xzm8
LANTHANUM
http://www.youtube.com/watch?v=Q21clW0s0B8
NEODYMIUM
http://www.youtube.com/watch?v=9EqLreywjTY
YTTRIUM
http://www.youtube.com/watch?v=tbYF5V-_Y5k
http://www.youtube.com/watch?v=q7jVtQv4m0U
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