Gold Plated Tungsten Price

Tracking Rare Earth Metal Prices

Details: Category: Rare Earth News; Published on Thursday, 06 June 2013 09:19; Written by Yuri; Hits: 2256

Rare earth metal prices have been falling steadily for the last couple of years, in spite of China reducing export volumes. Usually a reduction of supply results in a rise in prices, but the falls are indicative of the size of the REE bubble that had formed around the turn of the decade.

Chuin-Weip noted in the WSJ last week that Chinese exports had plummeted 71% in 2012 from 2011; however, this year has seen a remarkable change – exports have been picking up, with April’s figure of 2,196 metric tons almost six times larger by tonnage from a year earlier and a 28% rise from March, according to China customs data quoted in the article.

China exported 6,112 tons of rare earth metals in the first four months of this year, as the authorities approved higher export quotas and demand from China’s principal REE export market picked up. The U.S., you may think? Nope – Japan.

The country’s industrial base has responded strongly to stimulus measures, including massive money printing and a substantial reduction in the value of the Japanese yen to post impressive economic growth in the first quarter.

Japan consumes some two-thirds of China’s RE exports and as GDP rose at an annualized rate of 3.5% in the first quarter compared with 1% in the previous six months, the industrial base has taken the opportunity of cheaper REE prices to re-stock.

Nevertheless, global rare earth prices remain weak.

The value of China’s rare earth exports for the first four months of this year came in 63% lower than a year earlier, at $136 million, according to customs figures quoted in the WSJ. But the pace of the price slump is slowing from the 70%-to-80% declines posted earlier in the year; although if they had continued at that rate, some REEs would have been given away.

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Japanese Firm Commits to Rare Earth Exploration in Malawi

Details: Category: Rare Earth News; Published on Thursday, 06 June 2013 09:14; Written by Yuri; Hits: 1154

Japan Oil, Gas and Metals National Corporation (JOGMEC) has re-affirmed its commitment to transfer technology and know -how in order to leave a lasting legacy in Malawi as a nation.

"We are already on the ground in Malawi doing rare earth exploration in Mulanje, Thyolo, Lake Chirwa and Mangochi on Rare Earth which has key elements for manufacturing of batteries among other things," said Hideyuki Ueda, Executive Director of Metals Strategy and Exploration at JOGMEC after holding a bilateral meeting with President Joyce Banda in Yokohama -Japan on Friday.

Ueda stated that his meeting with President Dr. Joyce Banda was very significant as it dwells much on rare earth exploration in Malawi as mining was one of the government's priorities.

In his remarks, Minister of Industry and Trade Sosten Gwengwe explained that the mineral exploration being carried out in Mulanje, Mangochi and Thyolo on the Rare Earth Metal Project has reached an advanced stage and that many Malawians have already started benefitting through employment.

"Malawi's geologists are also actively involved in the project thereby enhancing their skills and knowledge, courtesy of the Japanese Oil, Gas and Metals National Corporation," said Gwengwe.

He said the key thing that came out of the meeting is the technology transfer that they are very much after in order to leave a lasting legacy which is the Japanese technological transfer and technical know- how.

Japan Oil, Gas and Metals National Corporation (JOGMEC) was established in 2004 as an incorporated administrative agency established by the Japanese Government to maintain a stable supply of natural resources and energy to Japan through exploration in Africa.

In July 2008, JOGMEC established a Remote Sensing Satellite Station in Botswana. The centre was established to transfer remote sensing technology to SADC countries in areas of mineral prospecting and exploration.

In July 2010, the Malawi Government signed a Memorandum of Understanding (MOU) with JOGMEC after which joint mineral explorations projects have been conducted and capacity building has also taken place which has seen technology transfer from JOGMEC to Malawi.

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Rare Earth Products Prices Continued to Fall (May. 27-31, 2013)

Details: Category: Rare Earth News; Published on Tuesday, 04 June 2013 11:31; Written by Yuri; Hits: 1997

According to the latest survey, rare earth prices continued to fall during the past week with market demand depressed.

Prices were RMB 29,500/mt for lanthanum oxide, RMB 28,000/mt for cerium oxide, RMB 355,000/mt for praseodymium oxide, RMB 255,000/mt for neodymium oxide, RMB 260,000/mt for didymium oxide, RMB 3,500/kg for europium oxide, RMB 1,100/kg for dysprosium oxide, RMB 120,500/mt for gadolinium oxide, RMB 52,500/mt for cerium misch metal, RMB 345,000/mt for praseodymium-neodymium alloy and RMB 1,200,000/mt for dysprosium-iron alloy.

Rare earth market remained weak last week with prices falling further. Most sellers reported difficulty selling goods and were bearish to market outlook. Trading was still light.

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Wyoming Releases New Study on Rare Earth Elements

Details: Category: Rare Earth News; Published on Thursday, 06 June 2013 09:02; Written by Yuri; Hits: 2116

Wyoming released Monday its new statewide survey of rare earth elements with promising results.

The Wyoming State Geological Survey completed an investigative report — including samples, maps, measured and recorded amounts — on the minerals to encourage further commercial exploration.

Through the scientific study, the WSGS has confirmed that rare earth elements occur across the state. For example, data indicates 20 sites produced samples with at least five times the average crustal abundance of rare earths — a positive measurement for deeper examination.

The report is available for download from the WSGS site.

Additionally, WSGS has established the Wyoming Database of Geology (Wyo-DOG) to assist in future geological studies. The database includes all elemental analyses along with brief write-ups and photographs of most samples and sites.

The Bear Lodge deposit, near the town of Sundance in northeastern Wyoming, is considered one of the largest potential sources of the minerals in North America.

Currently, Molycorp's Mountain Pass operation in California is the only active mine in the US.

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Rare Earth Prices Plunge

Details: Category: Rare Earth News; Published on Tuesday, 04 June 2013 11:26; Written by Yuri; Hits: 2026

Demand for rare earth has been sluggish since the start of 2013, with severe overcapacity. Only demand for the widely-used praseodymium-neodymium alloy improved, but transactions were also quiet, with prices of other rare earth categories on the downward track.

Shanghai Rare Earth Industry Expected to Double
Shanghai Rare Earth Industry Association was founded on May 28. Shanghai rare earth industry has been growing rapidly, with the industry output value increasing from RMB 2.52 billion at the end of the 10th Five-Year Plan period, to RMB 5.05 billion at the end of the 11th Five-Year Plan period.

Guangdong to Invest in Aluminum and Rare Earth Projects in Inner Mongolia
The Inner Mongolia & Guangdong Technology Cooperation Week was held in the Baiyun International Meeting Center last week. Inner Mongolia collected 342 projects cooperating with Guangdong, covering steel, equipment manufacturing, aluminum, power and rare earth industries.

Indicators of Nine Ore Categories to be Finished
The recovery rate, recycling rate and integrate utilization rate are minimum requirements for mines. China will continue to study the three rates of nine ore categories including oil and gas, iron, copper, lead, zinc, fluorite, rare earth and sylvite, with the indicators of iron, copper, lead and zinc completed in late May, and the indicators of fluorite and rare earth finished in late June, and those for sylvite expected to be completed in late July.

MLR Delegates Mineral Resources Exploration Examination and Approval Authority
The Ministry of Land and Resources Geological Survey Department Deputy Director, Mineral Exploration Office Deputy Director Yu Haifeng revealed that the MLR is considering delegating examination and approval authority of mineral resources exploration to local governments.

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