This is an old article from oct 2010,hope to see some more when ce is lifted.
World’s Rare Minerals Found In Pampana River
Written by Administrator
Wednesday, 27 October 2010 20:43
Sunergy to Acquire Large Scale Rare Earth Element (REEs) Deposit Containing Gold in Sierra Leone, West Africa in Face of Chinese Global Domination of These Strategic Metals
SCOTTSDALE, AZ, Oct 25, 2010 (MARKETWIRE via COMTEX) -- Sunergy, Inc (the "Company") (pinksheets:SNEY) reports that due diligence on the planned acquisition of Allied Mining and Supply, LLC (Nevada) has shown that substantial Rare Earth Elements (REEs) are contained in the 140.1 sq. km. Pampana river concession in Sierra Leone, West Africa.
Assays of heavy black sand concentrates containing rare earths (REEs) in 2009 and 2010, showed quantities of rare earths and other valuable minerals in commercially exploitable grades. Recent assays by ALS Chemex in Sparks, Nevada identified several of these rare earths contained in the heavy black sands along with gold as follows: Lanthanum, Scandium, Thallium, Cerium, Dysprosium, Hafnium, Lutetium, Niobium, Neodymium, Praesodymium, Tantalum and Zircon.
Final documents are being prepared to close this acquisition and plans are underway to finance operations in Sierra Leone immediately thereafter. Substantial gold has also been determined to be contained in the concession. Data indicates gold concentrations ranging from 1 to 18 grams per tonne of material. Fire assays conducted in Freetown by the Company show the gold purity at 89%. Over 500,000 ounces are contained in reports in the top 28% of the 140 sq. km. concession and further testing shows continuity.
The following information is from a recently published article in the UK's The Independent:
"Neodymium is one of 17 metals crucial to green technology. There's only one snag -- China produces 97% of the world's supply. And they're not selling."
Britain and other Western countries risk running out of supplies of certain highly sought-after rare metals that are vital to a host of green technologies, amid growing evidence that China, which has a monopoly on global production, is set to choke off exports of valuable compounds.
Failure to secure alternative long-term sources of rare earth elements (REEs) would affect the manufacturing and development of low-carbon technology, which relies on the unique properties of the 17 metals to mass-produce eco-friendly innovations such as wind turbines and low-energy light bulbs. Worldwide, the industries reliant on REEs, which produce anything from fibre-optic cables to missile guidance systems, are estimated to be worth GBP 3 trillion, or 5 per cent of global GDP.
Once extracted and refined, the rare earth metals can be put to a dizzying range of hi-tech uses. Neodymium, one of the most common rare earths, is a key part of neodymium-iron-boron magnets used in hyper-efficient motors and generators. Around two tonnes of neodymium are needed for each wind turbine. Lanthanum, another REE, is a major ingredient for hybrid car batteries (each Prius uses up to 15kg), while terbium is vital for low-energy light bulbs and cerium is used in catalytic converters.
China, whose mines account for 97 per cent of global supplies, is trying to ensure that all raw REE materials are processed within its borders. During the past seven years it has reduced by 40 per cent the amount of rare earths available for export.
Jack Lifton, an independent consultant and a world expert on REEs, said: "A real crunch is coming. In America, Britain and elsewhere we have not yet woken up to the fact that there is an urgent need to secure the supply of rare earths from sources outside China. China has gone from exporting 75 per cent of the raw ore it produces to shipping just 25 per cent, and it does not consider itself to be under any obligation to ensure supplies of rare earths to anyone but itself. There has been an effort in the West to set up new mines but these are five to 10 years away from significant production."
After decades in which they were considered little more than geological oddities, rare earths have recently become a boom industry after the invention of a succession of devices, including iPhones and X-ray machines, which rely on their specific properties.
Dr Ian Higgins, general manager of Birkenhead-based Less Common Metals, which specialises in rare earth products, said: "There is a threat that in the next 12 to 18 months, there might be some quite severe shortages of these rare earths. That is certainly going to impact those hi-tech green industries outside China."
The Department for Business, Industry and Skills acknowledged the growing concern in Western capitals. A spokesman said: "We are monitoring the situation, particularly with regard to World Trade Organisation rules. We are working with UK industry to assess the long-term demand for strategically important resources, including rare earth elements."
Last Updated on Wednesday, 27 October 2010 21:11
