Manufacturers of a broad spectrum of high-tech products have been feeling the impact of price hikes in rare earth element-based processing materials because of the Chinese embargo in late 2010, according to the report “Rare Earths Elements In High-Tech Industries: Market Analysis And Forecasts Amid China’s Trade Embargo”.
Now your rare earth elements may come from the sea rather than from China. A think tank from the New York based Council on Foreign Relations said that it was economically and environmentally unviable, but this has not stopped Japan.
Kirrin Resources has begun a geophysical program at the Grevet REE (rare earth element) project in northwestern Quebec.
International Montoro Resources (Montoro) has begun the 2011 work program at the Chuchinka REE-Carbonatite property.
Redhill Resources has started the additional mapping and sampling work at its Honey Comb Hills Rare Earth Property in Utah. The property is located 20 miles from the west of IBC Advanced Alloys Project, which is also based in Utah.
Prices of rare earth elements have doubled over the last two weeks as China begins restrictive mining production and export practices. Since China supplies 95% of the 17 rare earth minerals used in everything from lasers, to plasma televisions to laptop batteries their policies will affect the global market adversely.
Ditem Explorations is making progress in the summer exploration program at the Lac Henri property. This exploration at the Lac Henri property will include the rare earth showing that was identified during 2009 and will contain a geological mapping, ground radiometric survey and prospecting with sampling and trenching.
Rare earth elements have been a hotly traded stock since China said that it was limiting their exports last year. The move led to a number of countries digging in their back yards for whatever rare earth elements they could mine on their own. It also saw stocks of mining companies dealing in rare earths go through the roof.
The mining industry has found another metaphorical gold rush and it’s lying at the bottom of the Pacific Ocean. Environmentalists who are worried about the impact of deep sea mining on marine ecosystems are hoping that the large number of firms looking for ocean floor mining permits is not entertained.
Environmentalists in New Mexico are renewing their efforts to gain permanent protection for the Otero Mesa area in the south. About 183 claims are held by the Colorado based company Geovic Mining Corp in the region. The company finished staking a 5 square miles claim in the Cornudas Mountains last week in a bid to find rare minerals.
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