Rare earth prices which have been soaring in the wake of the Chinese export ban may now begin to fall. Many leading industrial houses have been working on substitute materials for rare earth metals in their manufacturing processes.
Medallion Resources Ltd has announced that it would be acquiring existing holdings of the reddish-brown phosphate mineral Monazite that contains rare earth metals as part of its new strategy. Medallion has also decided not to invest more funds into the exploration of the Eden Lake property in Manitoba, Canada.
Quantum Rare Earth Developments has reported the results of the rare earth element (REE) from the remaining two holes drilled during the spring or summer exploration campaign conducted at the Elk Creek Niobium–REE project in the USA.
IAMGOLD has updated on the rare earth elements (REE) exploration nearby the Niobec niobium mine in Canada. The location of the recognized rare earth element zone (REE zone) is around 1 km to the northern part of the Niobec mine.
Monarques Resources has announced the results of five diamond drill holes from the 2011 winter exploration program conducted at its Arques property, which is a part of Monarques’ lengthy package of polymetallic property, Quebec.
In a world scrambling to find new sources of Rare Earth Elements Afghanistan offers much promise. As per the U.S. Geological Survey the country holds 1 million metric tons of rare earth element resources in the Helmand Province. U.S. defense officials estimated in 2010 that there could be as much as $1 trillion worth of iron, copper, cobalt, gold and lithium in Afghanistan.
Molycorp Minerals has decided to invest in Boulder Wind Power, a wind turbine maker. The green energy company is trying to raise $35 million in capital by selling convertible preferred stock.
Critical Elements has discovered a new in-situ mineralization of allanite or colombite, molybdenite and phosphate at its BC Niobium, Tantalum & Rare Earths Elements property.
Rare earth elements are a group of metals that are useful in the manufacturing of high-tech gadgets and green technology. 95% of the world’s supply of these elements comes from China. The new restrictions that the nation has placed on the exports of these elements has adversely affected the global electronics industry.
China is temporarily halting the production of a rare earth metals in three mining districts in Jiangxi Province city. The Xinhua News Agency said that Gangzhou which is the largest producer of the rare earth metal called dysprosium has been ordered to comply strictly with the annual production quota.
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