Greenland’s premier has said that the EU won’t be given preference over China as the country seeks to exploit its rare earths deposits. Prime Minister Kuupik Kleist told the media “All are welcome if they meet our conditions and our requirements to operate in Greenland.”

Europe has made a request for special treatment ahead of what many believe will be a major production boom in Greenland’s lucrative rare earth mineral industry. Klesit said, however, that it would simply be unfair, “to protect others’ interests more than protecting, for instance, China’s.”

Rare earths are essential for the manufacturing of consumer electronics. Experts say that China controls an estimated 97 percent of the current market, which has led to a dispute with Europe, Japan and the United States, who have taken the matter up with the World Trade Organization (WTO).

Now, major Chinese mining firms have reportedly reached an agreement with Greenland officials to exploit the region’s huge potential for the minerals, which are now becoming more accessible due to accelerated ice melt in recent years.

Kleist also downplayed concerns about Chinese plans to import labour for forthcoming operations: “I do not see thousands of Chinese workers in the country as a threat,” he said.

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KETCHIKAN — An Alaska company has set its sights on developing a rare-earth element mine by 2016 on southeast Prince of Wales Island.

Ucore Rare Metals’ proposed Bokan Mountain Project could begin construction in 2014 with the proper permits, The Ketchikan Daily News reports.

CEO Jim McKenzie said China has dominated the rare-earth elements market, and the Alaska project gives the U.S. a chance to keep up. Rare-earth elements are the types of elements used in technology such as radar systems, satellites, renewable energy systems and consumer products like cell phones and TVs.

“We view the rare-earth space as sort of a race,” McKenzie said. “Obviously, China is withdrawing product from international markets fairly aggressively, and the U.S. needs this product.”

The company estimates that building a mine and processing facility would cost about $221 million and take about 21 months to complete. Based on current resource estimates, the mine could operate for 11 years with a processing rate of 1,500 tons per day.

There are 70 known occurrences of rare-earth elements in the state. Alaska boasts what is believed to be one of the most significant rare-earth prospects in North America.

Critical minerals, which include rare-earth elements, are those that are needed for use but subject to possible supply restrictions. Alaska bills itself as an excellent place to explore, with geology conducive to deposits.

China holds a virtual monopoly as a global supplier of rare-earth elements, with an estimated 48 percent of the world’s proven reserves. It has threatened to withdraw its supply of rare-earth elements to ensure a supply for domestic manufacturing.

UCore retained control of the Bokan Mountain site in southeast Alaska in 2006, initially because of its interest in uranium, though it also was aware of a rare-earth deposit on the property. The rare-earth project is now Ucore’s primary focus.

McKenzie and other Ucore officials acknowledge that permitting processes for mines contain no guarantees for schedules or outcomes.

“When it comes to permitting, you can’t hold that to a specific agenda,” McKenzie said. “You can pursue it in good faith and hope for the best.”

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With the publication of a highly optimistic financial assessment, the developers of the rare earth elements mine at Bokan Mountain on Prince of Wales Island have outlined a permitting and construction schedule leading to production start-up and 170 year-round jobs by 2016.

Support jobs could triple that total, according to Ken Collison, a long-time mine builder and chief operating officer of Ucore Rare Metals Inc.

“We’re in the birthing stages of a new American industry and we think that Alaska can be the headquarters,” said Ucore President and CEO Jim MacDonald.

Based in Halifax, Nova Scotia, Ucore issued the Preliminary Economic Assessment, or PEA, for the Bokan Mountain project, located 37 miles southwest of Ketchikan, on Jan. 15.

The PEA indicated an 11-year mine life based on proven resources with a net present value of $586.4 million at a 10 percent discount rate, pre-tax; an internal rate of return of 43 percent; a payback period of 2.3 years and a capital cost of $224.6 million, including a complete on-site rare earth oxide separation plant, and a contingency provision of $25.4 million.

MacDonald acknowledged that the internal rate of return is “exceptionally high,” but said it was a mark of confidence in the PEA and the project mineral content.

“I think it’s indicative of the fact that the project is very robust,” MacDonald said.

Collison said on Dec. 12 that proven reserves are, “less than one-tenth of what we’re capable of.”

Much as China captured the rare earth elements, or REE, industry by offering the raw material and manufacturing, MacDonald suggested Alaska could recover a U.S. share.

“There’s no reason to think that as the industry developed in Alaska they couldn’t, potentially, attract manufacturing that requires rare earth elements in the chain. There’s a chance here for the state of Alaska to capture an entire industry,” MacDonald said.

Ucore is raising project financing through what amounts to futures sales, but is also working with the Alaska Industrial Development and Export Authority on a request for state support through infrastructure construction and possibly other avenues.

Formally known as a National Instrument 43-101, a preliminary economic assessment is a detailed technical analysis of a mineral project’s economics required under Canadian law.

All 15 rare earth elements are present at Bokan and total annual production is projected to be 2,250 tons, but dysprosium, terbium and yttrium, “are our headline products,” MacDonald said.

In the oxide form the mine will produce, the three are currently selling, respectively for $700, $1,230 and $38 per kilogram, according to Ucore’s online REE posting.

Projected annual production includes 95 tons of dysprosium oxide, 14 tons of terbium oxide and 515 tons of yttrium oxide. All are critical to electronics manufacturing in defense, automotive, aerospace and other high-tech applications.

Cutting-edge refining technology including magnetic separators and solid phase extraction, or SPE, that is undergoing final testing this year will send 75 percent of the 1,500 tons per day of raw ore production back underground. So-called nuisance materials, including thorium, uranium and iron, will be converted to a concrete paste to backfill empty mine shafts.

Ucore plans to use a nitric acid leach in the SPE process because 75 percent of the acid can be recycled, unlike more commonly used sulfuric acid, MacDonald said.

As extraction operations open subsurface space, surface tailings will steadily disappear. The mine could be the first in the world to leave no surface tailings facility after closure, MacDonald suggested.

To finance the project, Ucore’s “aspiration, and we think it’s a realistic one,” MacDonald said, is to avoid the need for equity financing by completing agreements with “off-take partners.”

“The potential formula is whatever percentage of critical REEs the partner signs for, they will be asked to participate at a commensurate level in terms of financing the mine,” MacDonald explained.

Last fall, Ucore signed an information sharing agreement with the U.S. Defense Logistical Agency in the Department of Defense, which is expected to become an off-take partner. The information agreement means DOD “will be getting access to information before it becomes public,” MacDonald said.

Dysprosium is a critical material for production of unmanned drones and other remote-control weapons systems.

Hybrid and electrically powered cars have 40 points under the hood requiring REEs, and MacDonald said major U.S. automakers are likely to become off-take partners.

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SIERRA BLANCA, TX - Jan 24, 2013 - Texas Rare Earth Resources Corp. ("Texas Rare Earth"), a heavy rare earths exploration company, today announced that the Company has engaged a representative to assist in locating possible strategic alternatives for its Round Top project, to include its beryllium deposit, from entities in Asia. The hiring of the representative is in response to a preliminary indication of potential interest from a multi-billion dollar resource firm located in Asia.

Dan Gorski, Chief Executive Officer, stated, "Given the interest level in our unique Round Top project, the Board felt it necessary to engage a representative to further explore potential interest from Asia. Demand for heavy rare earth elements is expected to continue to outstrip supply in the years to come. Given that the vast majority of such elements are used in the Asian regions, it is logical that interest from the region could be quite robust."

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The National Environment and Planning Agency (NEPA) says it is satisfied the necessary due diligence was taken before permission was granted to the Jamaica Bauxite Institute (JBI), for a feasibility study for the proposed extraction of rare earth elements from mining residues or red mud.

Chief Executive Officer of NEPA, Peter Knight, told the Gleaner/Power 106 News Center that his organisation is satisfied that the application made by the JBI addressed all environmental concerns.

While not disclosing details, Knight said conditions have been imposed to ensure the company carrying out the research does not commit any environmental breaches.

Knight said specific instructions have also been given to guide the JBI in how it proceeds.

Last Tuesday mining Minister, Phillip Paulwell announced that the government would be pursuing the pilot project which it hopes will be a lucrative venture for the country.

However, one lobby group, the Jamaica Environment Trust (JET) has expressed concern about the project's location at Hope Gardens.

It has questioned whether sufficient controls have been put in place to prevent any likely negative impact on neighboring commercial and residential communities.

The group says it would also have preferred if the facility was located close to the red mud lakes, to avoid the transportation of red mud across the island.

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FARMINGTON, Conn., Jan. 24, 2013 -- The first rare earths were discovered in the late 1700s, although commercial applications for these materials remained limited until the 1960s. Once the United States was the world's leading supplier but the mine was closed for environmental reasons. The Chinese then became dominant in production.

During the past twenty years there has been an explosion in demand for many items that require rare earth metals. Rare earth metals and alloys that contain them are used in many devices that people use every day such as: computer memory, DVD's, rechargeable batteries, cell phones, car catalytic converters, magnets, fluorescent lighting and much more. Other substances can be substituted for rare earth elements in their most important uses; however, these substitutes are usually much less effective and have a higher cost.

Global Information (GII) recommends four market research reports that evaluate mining projects worldwide, current and future availability of rare earths, and provide the status of companies that may change the availability and pricing of rare earths and rare metals. Executives and organizations can benefit by using these reports to plan procurement strategies, benchmark internal performance, and negotiate rare earth prices.

Rare Earths Elements in High-Tech Industries: Market Analysis and Forecasts Amid China's Trade Embargo

China, the world's largest rare earths producer, cut export quotas for the minerals needed to make hybrid cars and televisions by 72 percent for the second half, raising the possibility of a trade dispute with the U.S. Shipments will be capped at 7,976 metric tons, down from 28,417 tons for the same period a year ago, according to data from the Ministry of Commerce. Manufacturers of a broad spectrum of high-tech products are feeling the impact of price hikes in rare earth element-based processing materials because of the Chinese embargo.

The unique chemical, magnetic, electrical, and optical properties of rare earth elements have led to an ever increasing variety of applications. These uses range from automobile exhaust catalysts to consumer products that include phosphors in color television and flat panel displays (cell phones, portable DVDs, and laptops), to rechargeable batteries for hybrid and electric vehicles, and numerous medical devices. There are important defense applications such as jet fighter engines, missile guidance systems, antimissile defense, and space-based satellites and communication systems. Permanent magnets containing neodymium, are used in hard disk drives and wind turbines.

Top Ten Companies in Rare Earths

This study highlights the details of the top ten rare earth companies and the details of their mines and products as well as technology advancements, executives and present financial situations of these companies. Some acknowledgement is made of how the geopolitical scene plays into the production and utilization of rare earths and the newer combinations of materials that are being investigated.

Companies profiled include: Baota Steel Rare Earth Hi-Tech Co., Ltd., China Rare Earth Holdings Ltd., Solvay Group – Rhoda S.A., Indian Rare Earths Ltds., Molycorp Inc., Lynas Corporation, Mitsui Mining and Smelting, Irtysh Rare Earths Ltd., Gansu Rare Earth Group, and Arafura Resources Ltd.

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A 114% increase in the Indicated resource and a 218% increase in the Inferred resource

Great Western Minerals Group Monday announced an updated National Instrument 43-101 resource estimate and technical report for its Steenkampskraal rare earth property in South Africa, this according to a company news release.

The new resource estimate shows 32,000 metric tonnes of total rare earth oxides plus yttrium oxide (TREO) under the Indicated category and 42,100 metric tonnes of TREO under the Inferred category, each using a 1% TREO cut-off grade. This represents a 114% increase in the Indicated resource and a 218% increase in the Inferred resource from the last estimate in May of 2012.

"The substantial increase in TREO tonnage from this Resource Estimate update significantly improves the economic potential of the Steenkampskraal Monazite Project. The resource update reported today will be incorporated into the Preliminary Economic Assessment that is being prepared concurrently. We expect the Steenkampskraal analysis will be bolstered further with the upcoming addition of a minimum of 55 drill holes for which assay work is currently in progress," said Great Western Minerals President and CEO Marc LeVier.

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Liberty Star Uranium & Metals Corp. ("Liberty Star" or the "Company") is pleased to announce that new geochemical field work will be conducted on a portion of its Hay Mountain claim block, part of the larger Tombstone Super Project (TSP). Also, preliminary archaeology surveys of the new sample locations are nearing completion.

As the worldwide demand for rare earth elements exploration heats up, the Hay Mountain rare earth anomaly covering at least 7 to 9 square miles gains importance. Until the Liberty Star discovery Arizona had no important REE occurrences ("Rethinking Rare Earth Element Potential in Arizona," Lee Allison 11/15/2012). We have samples of one heavy rare earth (yttrium) plus three light rare earths and are now planning to define the potential of this area by running assays for the 13 REEs that haven't been run yet as well as taking additional samples for better definition of the anomalies.

Rock, soil and vegetation samples will be collected on recently acquired claims (NR 143) and in between existing samples to identify and refine additional targets for porphyry copper and associated minerals including gold, silver, moly, zinc and a number of rare earth elements. According to Arizona State Land Department regulations an additional archeology study will be required before work can begin. The field work for this study is within a few days' completion. Only two very small archaeological sites which are insignificant have been located to date.

As samples from this new geochemical study reach our certified assay lab, ALS Geochemistry in Vancouver, they will undergo analysis for all 17 rare earth elements. Previous assay work on TSP samples included review for only four rare earth elements (scandium, yttrium, lanthanum and cerium), which were present in soil samples (NR 122) and vegetation samples (NR 123). Also, Liberty Star will request that assay work for additional REEs be completed on samples submitted to the ALS facility in 2012 (NR 127).

States Liberty Star's CEO and Chief Geologist Jim Briscoe: "This round of geochemical studies is part of our methodical approach to exploration we must undertake so that a ZTEM survey can be flown over the larger Tombstone Super Project area this spring. It is important that we have these geochemical studies plotted to better understand where to map targets at Hay Mountain. While time-consuming, these studies can make for a highly efficient drilling program."

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I have just returned from the Vancouver Resource Investment Conference where I presented on the critical need for many different strategic metals.  The rare earth sector is beginning to attract interest as the U.S., Chinese and Japanese markets hit new 52 week highs after the changes in leadership in both countries.  The rare earth/strategic metals ETF (REMX) has crossed the 200 day for the first time since 2011 and I am monitoring for a bullish golden crossover.

A rebound in high tech and the automobile industries could spark further interest for heavy rare earth supplies outside China which are critical to today’s latest cutting edge technologies. We are bullish on the monetary metals such as gold, silver and platinum but also believe investors should diversify into the strategic rare earths, tungsten, antimony and uranium which will grow increasingly important as society requires high tech and clean energy solutions.

The growth in the use of smart phones, tablets and clean energy will put more demand on heavy rare earth production which China currently dominates. Japan, Europe and the U.S. must develop their domestic assets and may need to accelerate investment as the economy rebounds.

Rare earth prices have been pulling back and consumers have been reluctant to buy due to fears of an economic slowdown.  However, that trend may be ending as investors realize that global stimulus by Central Banks may be sparking an inflationary rally.  Many world markets are hitting multi year highs including the U.S., China and Japan.  Sentiment is growing bullish for the rare earths as the ETF reverses above the 200 day moving average.

This may put pressure on industrial end users especially car manufacturers who are seeing increasing sales especially in Asia.  For instance, General Motors sells more cars in China now than in the United States.  New fuel efficient cars require dysprosium and there are no substitutes without major costs.

I expect increasing amount of end users to partner with junior rare earth miners who may be trading at significant undervaluations.  The rebound in this sector may be phenomenal as the heavy rare earths have the greatest short term supply risk of any metal.
Over 14 months ago, we commented on Molycorp’s CEO Mark Smith’s testimony in front of the House Foreign Affairs Committee.  At that time we needed a true visionary to promote U.S. rare earth independence.

Instead, in my humble opinion, we got a little leaguer.  Molycorp should’ve differentiated between the heavy and light rare earths.  At that time we believed that Mark Smith’s testimony omitted some important facts.  We asked the following question at that time.

“Where does Molycorp get its heavy rare earths? Smith claimed Molycorp possesses a complete suite of rare earths at their Mountain Pass property. Assays have shown that this mountain possesses predominately light rare earths with little or no heavies.”

Not once were the members of the committee informed of the importance of the highly critical dysprosium, yttrium and terbium minerals, or the serious consequences China’s supply monopoly poses for American industry or U.S. national security.  It was an opportunity lost to educate the public.

 By Jeb Handwerger

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Chinatungsten Online January 23 news, promoting by the Ministry of Industry, Development and Reform Commission, and other State ministries, the nine industry mergers and acquisitions was held yesterday (22 start of day). 

The nine major industries, including iron and steel, cement, automobile, machinery manufacturing, electronic information, shipbuilding, rare earth, electrolytic aluminum and agriculture. According to statistics, the nine industries involving a total of 900 listed companies, accounting for half of the current A-share listed companies, with a total market capitalization of more than 4 trillion Yuan.

In the case of this year's overall economic slowdown, the nine industries including rare earth industry are needed to transfer into effectiveness and quality. Now the enterprises from of rare earth industry insist that the enterprises are the mainstay, and adhere to market-oriented operation. State-owned rare earth industry hope to achieve the degree of concentration by mergers restructuring, and also to consolidate the basic system of socialism, enhance configuration elements of fair competition. The state-owned rare earth industry can advance and retreat in this process; the public sector of rare earth industry can implement the strategic restructuring; the non-public rare earth industry could create a good atmosphere to participate the competition. 

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