From another board:
Posted by: crudeoil24 Date: Sunday, June 14, 2009 1:38:55 PM
In reply to: The Rainmaker who wrote msg# 13459 Post # of 13465
SRSR may be the ticket.
The importance of REE's to our global economy. This is taken from an article with Mark Smith of Molycorp Minerals and talks about the importance of REE's. SRSR has a vast reserve of REE's on its properties.
Why rare earth metals matter Tom Vulcan, rare earth metals reporter for HardAssetsInvestor.com, recently had the chance to speak in Washington, D.C., with Mark Smith, CEO of Molycorp Minerals LLC. With its mine at Mountain Pass, Calif., Molycorp currently owns and runs the Western Hemisphere's only rare earth ore mining operation.
Author: Tom Vulcan
Posted: Monday , 18 May 2009
NEW YORK (Hard Assets Investor) -
Vulcan: In which areas are rare earth metals of absolutely critical importance?
Smith: When I think of the critical importance of rare earth elements, I think of two areas in particular related to clean energy technology. One is the hybrid vehicles, and the other is wind turbines. There are two components within hybrid vehicles that we have to keep in mind when we think of the critical importance of rare earths. One is the nickel metal hydride battery, which uses lanthanum metal; and the other is the use of permanent rare earth magnets, which primarily use neodymium.
I think everybody is predicting that the battery side of the hybrid vehicle is likely going to change to lithium ion in the next 5, 10 or 15 years. However, until the lithium ion technology is fully developed, the nickel metal hydride batteries will be indispensable. Moreover, the one thing that cannot change in electric vehicles or hybrid vehicles is the use of permanent rare earth magnets in the motors and generators. There is simply no substitute for those magnets.
Vulcan: So hybrids and then wind turbines.
Smith: Yes, but there are some other uses of rare earth elements including energy-efficient lightbulbs that are also very important. Compact fluorescent lightbulbs use europium, terbium and yttrium. Without europium, terbium and yttrium, they don't work.
