A report it contracted from SENES Consultants Ltd. concludes that its proposed large-scale monazite rare-earth extraction facility can be operated safely and effectively, while complying with all major national and international mining and environmental safety standards, Medallion Resources Ltd. said this morning. That would quickly open up vast resources of rare earths from what...
China’s renewed warnings last week of further rare-earth export reductions and stronger in-country production controls increases the urgency for the U.S. to ramp up its own rare earth production, Mark A. Smith, Molycorp Inc.’s president and CEO, told a U.S. House Foreign Affairs Subcommittee this morning. Ironically, this testimony came a day after Molycorp...
We constantly hear about future high-tech demand for rare earths. But what exactly are they, and do they go beyond a few parts per million in cell phone screens? An announcement yesterday by Molycorp Inc., the nation’s only producer of rare earths and the single producer outside China that currently seems to be a...
The United States needs to create a strategic metals reserve to protect its manufacturing capabilities and defense posture in case of an embargo — especially by China — says Michael Silver, president and chairman of the board of American Elements, a global manufacturer of engineered and advanced materials, including rare earth metals and chemicals. Silver said...
The United States moved one step closer to gaining some supply security in one strategic metal that long has been 100% imported — cobalt — with the announcement today by Formation Metals Inc. that it has engaged Auramet Trading LLC to assist in completing the process of mine construction financing for its wholly owned...
There were two pieces of news on the wire today about energy projects whose combined value exceeded $80 billion, two of the largest such projects in history. And of no surprise to anyone halfway savvy, neither of them had anything to do with “green” or renewable energy. These two stories came hard on the...
Teck Resources Ltd. said July 3 it has agreed to sell to China Investment Corp. shares that represent about 17.2% of its equity. It will use the net proceeds from the transaction of more than C$1.7 billion to reduce its debt. CIC has agreed to purchase through a wholly-owned subsidiary 101.3 million Class B...
Rio Tinto has decided to break off its proposed relationship with Aluminum Corp. of China, once valued at almost $20 billion, paying the Chinese state firm an agreed-to fee of $195 million, and instead issued new stock rights to bring in a gross of $15.2 billion for its plc and Ltd. entities. Rio Tinto...
Quantum’s Dickie wants U.S. to counter China’s rare-earth strategy
Peter Dickie is calling for the United States to accelerate efforts to develop and stockpile strategic metals and rare earth elements (REE) in the wake of a new Pentagon report to Congress that the U.S. is critically dependent on China for 17 essential materials, and in particular, rare earth elements. The Quantum Rare Earth...
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