Both the Technology Metals Summit and the Medallion Monazite Facility Receive Positive Feedback
I worked till midnight, back and forth with Dudley Kingsnorth on his participation in the upcoming Technology Metals Summit in less than 1 week and counting. Dudley has been an immense supporter of mine, so I was really appreciative of the fact that he is planning on...are you ready for this...launching his 2016 and 2020 rare earths forecasts just for us.
On my desk, I am staring at the Technology Metals Summit news release. I can’t seem to find one of my keynote speakers, so do I include him or exclude him I wonder? With 5 quarterbacks, over 100 participating companies and 5 dozen panelists at last count; wonder if anyone will notice if he is missing? (phone rings, he has been found)
This morning I noted the news release from Medallion Resources Ltd. (TSX-V MDL)...Medallion reports that it has received positive feedback from consultants about its planned large-scale monazite rare earth extraction facility. The report from SENES Consultants Limited (SENES) concludes that the facility can be operated safely and effectively while maintaining compliance with all major national and international mining environmental safety standards.Medallion Chairman and CEO Dr. Bill Bird commented, “It has been our view that monazite, with rare earth content of approximately 60% could again fulfill its dominant role as a source for rare earth production outside of China”. Monazite is a critical mineral that contains rare earth elements. It has been processed for its rare earth content for more than 100-years. Currently small-scale monazite rare earth extraction facilities are operating in China, India and Brazil.
Safe handling and disposal of wastes must be adequately addressed in any rare earth processing facility, as is the case when processing any type of ore. The SENES report addresses this concern and indicates that proper controls combined with the use of modern waste handling and disposal systems would enable Medallion to proceed with its strategy to source and procure significant amounts of available monazite for large-scale and near-term production at the planned facility. Medallion is actively sourcing rare earth bearing monazite for the proposed facility from producers of heavy-mineral sands through various purchase agreements and joint ventures. Final plant size will be contingent upon the amount of committed monazite, market pricing, demand and other variables.
We are only one month into the New Year and 2012 is already proving to be an exciting one for the rare earth sector. On this note, I am pleased to announce my appointment as President of REE Stocks Company Ltd. In this role is will oversee the simultaneous launch of three stock indices: the REE Global Index (REEG) maintained and calculated by Standard & Poor’s and the REE Leaders Index (REEL) and the REE Shariah Index (REES) maintained and calculated by FTSE...a more official news release forthcoming...
(Disclaimer: Medallion Resources Ltd. is a paid sponsor for RareMetalBlog and will be participating at the upcoming Technology Metals Summit.)
