Press
Friday, February 24, 2012
February 24, 2012 (Source: Las Vegas Review Journal) -- Mining company Molycorps fourth-quarter results marked a huge gain from a year ago but a decline from the third quarter. The company had net income of $26.6 million, or 26 cents a share, in the quarter ended Dec. 31, compared with a loss of $7.9 million, or 10
Continue reading "Molycorp's quarterly results show gain from year ago" »
February 24, 2012 (Excerpt Source: Globe Mail) -- Frontier Rare Earths Ltd. (FRO-T1.240.021.64%) has released a preliminary economic assessment of its Zandkopsdrift deposit in South Africa, with capital expenditures expected to reach $1.1-billion. This was substantially higher than CIBC World Markets Inc. analyst Matthew Gibson’s forecasts, mostly due to a more expensive separation plant and the addition
Continue reading "Eye on Equities - Stocks that Should Be On Your Radar Screen By Darcy Keith" »
Thursday, February 23, 2012
February 23, 2012 (Source: Reuters) -- U.S. rare-earth miner Molycorp rose to a quarterly profit on Thursday as it produced more rare earths and rare-earth speciality products, and sold them at a higher average price.For the quarter ended Dec. 31, net income rose to $26.6 million, or 26 cents a share. That compared with a net loss
Continue reading "Molycorp swings to profit as rare earth prices rise" »
February 23, 2012 (Source: Bloomberg) -- Molycorp Inc. (MCP), owner of the largest rare-earth deposit outside China, reported fourth-quarter earnings that beat analysts’ estimates after falling prices for the metallic elements boosted demand.Net income was $26.6 million, or 26 cents a share. Net income excluding one-time items was 41 cents, beating by 1 cent the average of
Continue reading "Molycorp Beats Analysts’ Estimates As Rare-Earth Demand Climbs" »
February 23, 2012 (Source: Mining Weekly) -- Rare earths developer Lynas was facing fresh resistance to its Lynas Advanced Materials Plant (Lamp) in Malaysia, after the company and the Atomic Energy Licensing Board (AELB), as well as the Malaysian Department of Environment were served with documents relating to court proceedings. A group of individuals living in the
Continue reading "Lynas faced with legal battle over plant" »
February 23, 2012 (Source: WSJ) -- Any business can be proud of ramping up production ahead of schedule. But how good is the news if the price of what you’re producing is going down? That question will be on the minds of investors Thursday when Molycorp releases fourth-quarter earnings, after the bell. The Colorado-based firm said this
Continue reading "Molycorp: Investor Faith Will Be Tested In Quarterly Report" »
February 23, 2012 (Source: China Daily) -- China will develop rare-earth-based new materials during the 2011-2015 period, in an effort to boost manufacturing capacity, according to a five-year plan for the new materials industry released on Wednesday. The government will make full use of its rare earth resources to expand the industrial scale of new materials made
Continue reading "China to develop rare-earth based new materials" »
February 23, 2012 (Source: NASDAQ) -- Chinas loss may well be very much the U.S. gain as American rare earths producer Molycorp, Inc. on Wednesday announced the sequential start-up of its $895-million worth new Project Phoenix rareearthmanufacturing facility at its flagship Mountain Pass, California operation, ahead of an April 1 target schedule. In a statement, Molycorp, Inc.
Continue reading "Molycorp’s Mountain Pass Rare Earths Mine Almost Online" »
Wednesday, February 22, 2012
February 21, 2012 (Source: Marketwatch) -- Chinas Ministry of Industry and Information Technology Wednesday outlined a plan to speed up development of the nations rare-earth industry by 2015, setting goals for a range of uses for the strategic materials in new technology. China has long set its sights on developing domestic manufacturing capability that uses rare earth
Continue reading "China aims to speed up rare-earth development" »
Tuesday, February 21, 2012
February 21, 2012 (Source: Reuters) -- Shares of Frontier Rare Earths rose as much as 15 percent on Tuesday morning after the Canadian miner said a study of its Zandkopsdrift project in South Africa found the proposed mine and rare-earth separation plant economically feasible. The project will cost $910 million to develop, with an anticipated annual output
Continue reading "Frontier Rare Earths shares up on positive mine study" »
Thursday, February 16, 2012
February 16, 2012 (Source: The Sun Daily) -- The Atomic Energy Licensing Board (AELB) has yet to issue Lynas Corporation a temporary operating license (TOL) as the Australian company has yet to fulfil all the requirements needed. AELB director-general Raja Abdul Aziz Raja Adnan said although the board had given the approval for a TOL, there are
February 16, 2012 (Source: Bloomberg) -- (Corrects comments made by ALEB chief to clarify the licensing conditions in second paragraph.) Lynas Corp., an Australian miner, isnt yet allowed to start importingrare earthinto Malaysia, the head of the countrys licensing board said. Lynas needs to submit a letter detailing how it intends to fulfill five outstanding conditions before
Continue reading "Lynas Can’t Yet Start Importing Rare Earth to Malaysia" »
February 16, 2012 (Source: Businessweek) -- Lynas Corp., an Australian miner, needs to show how it will fulfill five remaining conditions before it can start importing rare earth into Malaysia, the head of the Southeast Asian nations regulator said. Malaysias Atomic Energy Licensing Board decided Jan. 30 to grant the Sydney-based miner a temporary operating permit to
Continue reading "Lynas Must Outline Plans Before Malaysia Rare Earth Refining" »
February 16, 2012 (Source: Yahoo News) -- Arafura Resources has announced a big clean-out of its board and admitted it is struggling to raise capital and to resolve technical issues associated with its Nolans rare earths project in the Northern Territory. The companys managing director and chief executive Steve Ward will immediately step down along with other
Tuesday, February 14, 2012
February 14, 2012 (Source: Bloomberg) -- Baogang Group and Jiangsu Tiancai Technology Material Co. will jointly build and run a rare-earth luminescent-material production base in eastern China’s Jiangsu province, Xinhua News Agency said today, without citing anyone. The new base will cover an area of 67 acres and have production capacity of as much as 1,500 metric
Continue reading "China’s Baogang Group to Open New Rare Earth Base, Xinhua Says" »
Monday, February 13, 2012
February 13, 2012 (Source: All Africa) -- Kenya could get a better estimate of the total deposits of rare earth minerals in Kwale County by June this year, a Canadian firm involved in their exploration at the Coast has indicated. Pacific Wildcat Resources (PAW) said in a statement to its shareholders on Friday that it had discovered
Continue reading "Kenya: Canadian Firm Finds More Rare Earth Mineral Deposits in Kwale" »
Friday, February 10, 2012
February 9, 2012 (Source: Platts) -- Chiles Molibdenos y Metales is looking to a major investment in US rare earths producer Molycorp to grow faster than the limited molybdenum market, which it dominates, allows, CEO John Graell said Thursday.The company plans to invest $390 million to buy a 13% stake in Colorado-based Molycorp, making it the companys
Continue reading "Molymet wagers on rare earths in big Molycorp investment: CEO" »
February 10, 2012 (Source: China Daily) -- Japan,theworldsbiggestimporterofrareearths,willprovide5billionyen($65million)insubsidiesforprojectsthatreducetheneedfortheelementsasitaimstocutitsrelianceonimportstomeetdemand. Thefundswillsupportprojectsthatreduceconsumptionofmagnetproductsthatusedysprosiumandneodymium,improverecyclinganddevelopnewtechnologies,accordingtoastatementfromtheMinistryofEconomy,TradeandIndustry.Anadditional3.5billionyenwillbeallocatedforusefromMay,accordingtothestatement. Dysprosiumandneodymiumareusedinautomotiveandwind-powerapplicationsandelectronics. JapaneseusersofrareearthshavetriedtoreducetheirrelianceonChina,whichproducesmorethan90percentoftheworldsrareearths.ThemineralsareusedinAppleInciPads,BoeingCohelicopterblades,RaytheonComissiles,ToyotaMotorCorphybridcarsandwindturbines. Aftertwoyears,weexpectdemandfordysprosiumtobecutbyabout200metrictonsanddemandforneodymiumbyabout1,000tonsayearfromthisprogram,KenichiHasehira,anofficialattheministrysnonferrousmetalsdivision,saidonThursday. Theministryalsoexpectstorecover13tonsofdysprosiumand69tonsofneodymiuminfiscal2015fromrecycling,hesaid.MitsubishiMaterialsCorpwillmanagetherecyclingproject,ministrysaidinthestatement.Outof68projectsconsidered,theministryapprovedfundsfor49,itsaid. Rareearthspricessoaredin2011afterChinamovedtolimitdomesticoutputandslashexportquotasinJuly2010by40percent.TheChinesegovernmentsaiditwasleavingthe2012overseassalescapsvirtuallyunchanged.
Continue reading "Japan offers $65m in rare-earth subsidies" »
February 10, 2012 (Source: Reuters) -- Canadian-based minerals and metals firm Pacific Wildcat Resources said further drilling at its Kenyan mining project near Mombasa had established larger reserves of niobium and rare earth than earlier projected. As can be seen from the cross sections we have now shown the high grade niobium mineralisation extends at depths substantially
Continue reading "Pacific Wildcat: larger niobium, rare earth reserves in Kenya" »
Thursday, February 09, 2012
February 9, 2012 (Source: Reuters) -- Chiles Molymet, the worlds No. 1 molybdenum processor, plans to invest $400 million in the next five years to increase output of the metal used to strengthen steel, its chief executive said on Thursday. The investment figure is separate from the companys announcement last week that it would buy a 13
Continue reading "Molymet to spend $400 mln over 5 yrs to up output" »
February 9, 2012 (Source: Financial Post) -- Between the increasing demand for rare earth elements (REEs) to supply global technological advance, and the 2010 reductions of export quotas by China, the non-Chinese world faces a global supply shortage. This situation presents opportunities but also challenges. The speakers at last week’s Technology Metals Summit 2012 in Toronto stressed
Continue reading "REE Dragon – Western Rare Earths Discoveries May Just Feed China" »
February 9, 2012 (Source: New York Times) -- Chancellor Angela Merkel of Germany and President Nursultan Nazarbayev of Kazakhstan agreed on Wednesday to a strategic partnership that guarantees German companies the right to search for and mine rare earths and other raw materials in Kazakhstan in exchange for technological and other investments. The agreement, signed by the
Continue reading "Germany and Kazakhstan Sign Rare Earths Agreement" »
Wednesday, February 08, 2012
February 8, 2012 (Source: WSJ) -- As official Washington prepares to roll out a welcome for Chinese Vice President Xi Jinping, the visit provides a launch pad for a variety of issues, from high-stakes finance to human rights. Within that vast range of questions, some U.S. lawmakers want to push one item to the front of the
Continue reading "Lawmakers Want Minerals on Menu for Chinese VP’s Visit" »
February 8, 2012 (Source: Forbes) --Poor recent performance and heavy bearish sentiment shouldn’t overshadow the technical signals that this risky but potentially explosive growth industry could be bottoming. While hopes for a sustainable economic rebound continue to grow, the potential demand for rare earth metals has not impressed investors. Clearly since the frenzied highs of early 2011,
february 8, 2012 (Source: Reuters) -- Japan aims to cut domestic consumption of a heavy rare earth used widely in hybrid cars and electronics by 30 percent over the next two years as China keeps a tight grip on exports of the material, known as dysprosium. China ratcheted up export controls on the rare earth, mainly used
Continue reading "Japan to slash use of a heavy rare earth as China tightens grip" »
Tuesday, February 07, 2012
February 7, 2012 (Source: Mining Weekly) -- Demand for cobalt, tantalum and rare earth metals – seen as critical minor metals necessary for the continuation of the modern way of life – would continue to increase, but a mining consultancy group said on Monday that there was a risk of supply disruptions. Speaking at the Investing in
Continue reading "Demand for minor metals to rise, but supply disruptions a risk" »
February 6, 2012 (Source: Washington Post) -- Remember gazing up at the moon and wondering what it’s made of? Some pretty smart people are doing the same thing today. And it’s not childlike curiosity that’s motivating them: It’s money. Interest in materials known as rare earth elements surged when Chinatemporarily blocked exports in 2010. Manufacturers started looking
Continue reading "Moon draws growing interest as a potential source of rare minerals" »
Monday, February 06, 2012
February 6, 2012 (Source: Mining Weekly) -- Demand for cobalt, tantalum and rare earth metals – seen as critical minor metals necessary for the continuation of the modern way of life – would continue to increase, but a mining consultancy group said on Monday that there was a risk of supply disruptions. Speaking at the Mining Indaba
Continue reading "Demand for minor metals to rise, but supply disruptions a risk" »
Friday, February 03, 2012
February 3, 2012 (Source: Platts) -- Ten members of the US House of Representatives on Friday urged President Barack Obama to demand that the World Trade Organization sanction China for unfair trade practices relating to its export quotas of rare earth minerals.Chinas rare earth policies defy global trade laws to create supply scarcity and price inflation in
Continue reading "US House members urge WTO sanctions on China for rare earth policies " »
February 3, 2012 (Source: Smh) --Safety concerns and other hiccups have not stopped progress, writes Keith Bradsher. The worlds largest refinery for rare earth metals has risen out of the red mud of a coastal swamp at the Malaysian city of Kuantan and has just gained a temporary licence to begin operating - a step that could
Continue reading "Refinery on target for not so rare earth" »
February 3, 2012 (Source: Washington Post) -- Malaysian authorities sought Friday to quell protests over its move to approve an Australian mining company’s rare earths plant by pledging to appoint an independent monitor to review the project safety and to closely scrutinize its production. The Atomic Energy Licensing Board on Wednesday granted Lynas Corp. a two-year license
Thursday, February 02, 2012
February 2, 2012 (Source: The Economist) -- ALL that glisters is not gadolinium. Even so, that mineral and its 16 “rare earth” cousins—found in everything from batteries to catalytic converters—do help make the modern world go round. And, as the world’s manufacturers of such products have been reminded recently, China has a chokehold on their production. China’s
Continue reading "Of metals and market forces Is China’s grip on essential minerals loosening?" »
Wednesday, February 01, 2012
February 1, 2012 (Source: BBC) -- Shares of Australian miner Lynas have surged after Malaysian authorities granted it a licence to operate a rare earth refinery in the country. Lynas shares rose as much as 22% to A$1.625 on the Australian Securities Exchange. Once completed, the plant is expected to be one of the biggest sources of
Continue reading "Lynas shares surge 22% on Malaysia rare earth licence" »
February 1, 2012 (Source: Reuters) -- China lost the bulk of its appeal at the World Trade Organization this week against a complaint that it had illegally restricted exports of raw materials. The case involved various forms of bauxite, coke, fluorspar, magnesium, manganese, silicon carbide, silicon metal, yellow phosphorus and zinc. China is a leading exporter of
Continue reading "Factbox - WTO rules against China on export controls" »
February 1, 2012 (Source: Reuters) -- Chinas Commerce Ministry said on Wednesday it was prepared to defend its rare earth export policies at the World Trade Organization, days after the global trade body ruled against its export restrictions on raw materials exports. A WTO panel decided on Monday thatChinahad violated global trading rules by curbing exports of
Continue reading "China says ready to defend its rare earth policies" »
February 1, 2012 (Source: WSJ) -- Malaysia has granted Australian minerLynas Corp.a temporary and conditional license to operate a rare-earth refinery in the eastern state of Pahang, the government said Wednesday in a statement, potentially opening up a fresh source for crucial minerals now produced mostly in China. The Atomic Energy Licensing Board, known as AELB, said
Continue reading "Lynas Gets Temporary Rare-Earth Refinery License" »
February 1, 2012 (Source: Smh) -- Malaysia has granted approval to Australian miner Lynas Corp to operate its 700 million ringgit ($A217 million) rare earth plant despite public protests over fears of radioactive contamination. The Atomic Energy Licensing Board says it will grant Lynas a temporary operating license. It must submit plans for a permanent disposal facility
Continue reading "Malaysia grants licence to Aussie miner" »
Tuesday, January 31, 2012
January 31, 2012 (Source: New York Times) -- The world’s largest refinery forrare earthmetals has risen out of the red mud of a coastal swamp here and could soon obtain permission to operate — a step that would help breakChina’s near monopoly on rare earths but also worsen an emerging glut of some of these strategic minerals.
Continue reading "Rare Earth Metal Refinery Nears Approval" »
January 31, 2012 (Source: ABC) -- RareEarthIndustry A company drilling for rare earths in north east Western Australia says the industry is rapidly developing. Kimberley Rare Earths has a project in the Cummins Range, and plans to be a niche supplier of two light rare earths, cerium and lanthanum. Both are used in glass polishing and high
January 30, 2012 (Source: The China Perspective) --Baotou Rare Earth Forecasts 2011 Profit to Surge 330%Inner Mongolia Baotou Steel Rare Earth Group Co (SHA: 600111), Chinas largest rare earth producer, said it expected its net profit to surge 330% in 2011, up from ¥751 million in 2010, due to policies that curbed output and drove up prices.
Continue reading "China Corporate News: Baotou Rare Earth Forecasts 2011 Profit to Surge 330%" »
Monday, January 30, 2012
January 30, 2012 (Source: New York Times) -- The appeals panel of theWorld Trade Organizationruled Monday thatChinamust dismantle its system of export taxes and quotas for nine widely used industrial materials. The legal setback for Beijing could set a precedent for the West to challenge China’s export restrictions on other natural resources, includingrare earthmetals that are crucial
Continue reading "W.T.O. Orders China to Stop Export Taxes on Minerals" »
January 30, 2012 (Source: Japan Times) -- A Japan-China friendship group in Okinawa Prefecture has agreed to cooperate on procuring rare earth metals with a local goodwill group in Chinas Inner Mongolia Autonomous Region, sources familiar with the matter said Sunday. The region is a major production base for rare earth minerals, which are crucial to making
Continue reading "Okinawan, Mongolian groups ink deal on rare earths" »
January 30, 2012 (Source: Reuters) -- Malaysias political opposition has vowed to scrap a controversial $200 million rare-earths processing plant being built by Australias Lynas Corp if it wins national elections expected to be called within months. The plant, in Malaysias east, aims to weaken Chinas monopoly on the global supply of the metals, which are used
Continue reading "Malaysian opposition says would scrap rare earths plant" »
January 30, 2012 (Source: Fox News) -- A world in need of faster computers, smarter phones and more energy-efficientlightbulbsthreatens to strain the small supply of rare metals used by the global electronics industry. But limits on the production of such rare metals mean the supply cant easily expand to meet the demand for innovation in bothconsumer electronicsand
Continue reading "Rare Metals Shortage Could Threaten High-Tech Innovation" »
Friday, January 27, 2012
January 27, 2012 (Source: The Guardian) -- Shortages of a handful of rare minerals could slow the future growth of the burgeoning renewableenergyindustries, and affect countries chances of limiting greenhouse gas emissions, business leaders were told at the World Economic Forum in Davos this week. Last year, prices of many scarce minerals exploded, rising as much as
Continue reading "Rare minerals dearth threatens global renewables industry" »
Tuesday, January 24, 2012
January 24, 2012 (Source: Reuters) -- Australias Lynas Corp is set to raise $225 million from a new investor, giving the rare earths miner a cheaper source of funding to finish building its flagship plant in Malaysia, which is awaiting a licence to open. Lynas said on Tuesday it now expects the plant to start production in
Continue reading "Rare earths miner Lynas secures $225 mln in bond sale" »
January 24, 2012 (Source: FNN) -- Molycorp (NYSE:MCP) is one of todays biggest movers, down 4.1% to $27.74. The SP is currently trading 0.3% lower to 1,312 and the Dow Jones Industrial Average is trading 0.3% lower to 12,674. Molycorp, Inc. produces rare earth products, including oxides, metals, alloys and magnets for a variety of applications including
January 24, 2012 (Source: Smh) -- Lynas, owner of one of the few operational rare earth mines outside of China, has agreed to sell $US225 million ($214 million) in convertible bonds to help fund what will be the world’s largest refinery of the minerals in Malaysia. Mount Kellett Capital Management agreed to buy the bonds on behalf
Continue reading "Lynas sells bonds to fund Malaysian refinery" »
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