Rare earth metals (REM) and rare earth elements (REE) are the collection of 17 earth elements in the periodic table, namely scandium, yttrium, and 15 lanthanides. Because of their unique magnetic, fluorescent and chemical properties, REM and REE are key materials used in science innovation.

Major rare earth applications are used in hybrid vehicles. For example the Toyota Prius,  contains 30 kg (65 lb) of REE. Rare earth elements are used in motors, metal hydride batteries, glass, autocatalysts, and electronics.

There are 15 accepted rare earth elements known as the lanthanides with atomic numbers 57 to 71 and are listed as follows: lanthanum, cerium, praseodymium, neodymium, promethium, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, and lutetium.

                  

Promethium is a synthetic element which does not occur naturally is not generally included as a commodty. Yttrium is considered a rare earth since it tends to occur in the same ore deposits as the lanthanides and exhibits similar chemical properties.

It has been the practice to report rare elements as a percentage oxide. The elements are initially reported from the lab in parts per million. The elements are converted to oxides with the following molecular formulas, La₂O₃, _Ce2O₃, Pr₂O₃, Nd₂O₃, Sm₂O₃, Eu₂O₃, Gd₂O₃, Tb₂O₃, Dy₂O₃, Ho₂O₃, Er₂O₃, Tm₂O₃, Yb₂O₃, Lu₂O₃, and Y2O3. Rare earth oxides are reported as total rare earth oxides (TREO) which is a simple addition of the percentages of the above 15 components.

Rare earth oxides are further classified as light rare earth oxides (LREO) which includes La₂O₃, _Ce2O₃, Pr₂O₃, Nd₂O₃ and Sm₂O₃, and heavy rare oxides (HREO) which includes Eu₂O₃, Gd₂O₃, Tb₂O₃, Dy₂O₃, Ho₂O₃, Er₂O₃, Tm₂O₃, Yb₂O₃, Lu₂O₃, and Y2O3.

As a rough measure of the value of an assay, heavy rare earth elements (HREO) are reported as a percentage of total rare earth oxides (TREO). In the coming years heavy rare earth elements will be more sought after since China, the world’s leading producer of rare earths, has indicated it will be curtailing exports in order to meet and secure their domestic needs. The short fall in production from other countries in the world will lead to an upward pressure on commodity prices.


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While there are many opportunities for  company that should have been included among the ‘chosen ones’. That company is Matamec Exploration. Matamec recently issued an update of the progress of the feasibility study for the proposed Kipawa heavy rare earths mine. The mine has earned the confidence of one of the largest corporations in the world, Toyota, which formed a joint venture with Toyota Tsusho Corp (‘Tsusho’, a trading company part of the Toyota Motor Co. group).

Toyota plans to source rare metals need make hybrid and electric vehicles. Under the deal, Tsusho acquired a 49% stake in Matamec’s Kipawa heavy rare earth (HREE) deposit in Quebec in return for a CAD$ 16 million investment to enable Matamec to complete a feasibility study on the property, which can now be expected by the second quarter of 2013. To date Matamec over CAD$ 12 million out of the total CAD$ 16 million for the completion of a definitive feasibility study. The Feasibility Study for Kipawa is proceeding as planned and the results are expected by the end of Q2 2013.

Tsusho delivered the first CAD$ 8.5 million tranche of the investment (amounting to 25% of the agreed upon interest in Kipawa) at the end of last summer. The actual amount of rare earths used in hybrid vehicles is small; however, these elements are absolutely crucial for the manufacturing of the magnets, superconductors, catalysts and batteries that are increasingly used in hybrid and electric vehicles. HREE’s are making it possible to reduce battery weight, dimensions while increasing their power in conjunction with developments in battery charging technology that will drive demand for EV’s and hybrids over the next few years.

                 

While the agreement is a boon for Matamec, which will be in strong financial position to develop its deposit to production stage, it is of even greater strategic value for Toyota Tsusho, which needs to secure rare earth elements. Indeed, in commercial terms, Matamec’s partner of choice offers immediate commercial applications.

The key elements of the implementation phase include the environmental impact study, sustainable development and of course the 2012 drilling campaign and estimation of mineral resources results among other aspects. The estimated capital costs for the operations are at an advanced stage and are expected to be finalized this spring. These estimates will be optimized by the next two months as well as infrastructure design will be reviewed in order to minimize the associated costs. Demand for rare earths could soon exceed supply, given that China produces 97% of these critical metals and is tightening the reins on exports. Matamec, meanwhile, “is the only rare earth exploration company to have received funds to accelerate and complete a feasibility study and an environmental and social impact assessment study of a HREE deposit”. If the yardstick is perhaps the time needed to complete the preliminary assessments and the availability of financing, Matamec satisfies Tracy’s PDAC Challenge as a worthy investment proposition.


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With sea ice thawing and new shipping routes opening in the Arctic, the former Cold War ally of the West has emerged from isolation as a geopolitical interest for governments seeking a share of untapped minerals and potential offshore oil and gas. Prime Minister Kuupik Kleist has opened up Greenland to investors over the last four years.

    

Lanthanum oxide finished as the week’s biggest mover in this week after dropping 6.4 percent. The past week saw cerium oxide close after a 6 percent decline.

The price of praseodymium neodymium oxide, however, rose 1.7 percent after falling 3.2 percent during the previous week.

Praseodymium oxide fell 1.3 percent over the past week. Dysprosium oxide remained unchanged for the week. Europium oxide prices held steady from the previous week.

The week finished with no movement for neodymium oxide. Rare earth carbonate remained essentially flat from the previous week. Samarium oxide traded sideways last week. Terbium metal remained unchanged for the week.


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In tumbled trend of rare earth prices throughout 2012, during the state and enterprises to take a premium Shouchu discontinued insured and other measures were not rare earth prices can significantly rising trend. According to publicly available data, in 2012 about 40% year-on-year decline in the annual average price of rare earth, close to being "cut." Dysprosium oxide and terbium oxide average market price of the more significant reduction in the price declines of 40% and 46.6%. However, the export of of lanthanide products and cerium but contrarian rose year-on-year growth of 41% and 84% respectively, the price decline is also smaller. Can be seen, the larger decline in export prices of heavy rare earth elements such as dysprosium, terbium, and the light rare earth exports impact on a smaller scale.

The still general consulting metallurgical industry analysts pointed out that the fourth quarter of 2011, so far scarce rare earth prices by illegal private mines and overseas mining heavy volume, was a the shock downward trend, but the southern ionic rare earth minerals for our unique, rich in heavy The rare earth elements, there are obvious advantages compared to overseas rare earth mine in the reserves and grade. So the next few years is expected the heavy rare earth prices will gradually rise, light rare earths by the heavy volume of overseas mines will maintain low volatility. Heavy rare earth prices rise, mainly due to the following:

First, the heavy rare earth reserves are very limited. Based on USGS data show: the world's total rare earth reserves of 110 million tons, the Chinese reserves accounted for 50% of the approximately 55 million tons, which only 3% of China's reserves of about 165 million tons of proven reserves of southern China's rare earth ionic, therefore, rare earth ionic annual output of 50,000 tons of dollars static reserve-production ratio of less than 37 years, and this the main varieties of the ore in gold. The heavy rare earth is only part of the rare earth ionic, so more scarce. According to the agency is expected in the next world, more than 80% -90% of the heavy rare earth demand will continue from China to meet.

Second, will accelerate the reduction of the heavy rare earth stocks. The main reason for the decline of heavy rare earth prices in the near future is that pre some countries, as foreseen in the heavy rare earth scarcity to import large quantities of the formation of the stock, while the economic crisis lead to downstream companies cut a short-term oversupply situation, so the heavy rare earth. As the economy rebounds, the downstream enterprises will accelerate the consumption of existing inventory of heavy rare earth new demand will rapidly increase.

Third, the Southern rare earth industry will accelerate the integration. Another reason is that the Southern small mines stealing stealing and selling heavy rare earth prices. Currently, relevant departments have formulated relevant industrial policies, to increase the punishment for the rare earth indiscriminate digging of private behavior, Southern Rare Earth resources in the province are encouraged to promote the industry consolidation. Industry consolidation is complete, the efforts to control production and prices for the heavy rare earth will be greatly enhanced.

Other hand, according to the agency expects that by 2015, lanthanum, cerium, praseodymium, neodymium and four light rare earth ore production in China of the world's total output than will decline from 94% in 2010 to 61% in 2015. Moreover, the future of the four light rare earth ore production will increase every year. This will greatly ease the contradiction between supply and demand of the light rare earths, so future prices will be difficult to improve.


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Rare Element Resources Ltd. is pleased to announce rare earth element (REE) assay results from the final core holes completed during the 2012 drilling program at the Company’s 100% owned Bear Lodge property, located in northeastern Wyoming, USA. The drilling results confirm that the Bear Lodge deposits contain high grades of total rare earth oxide (TREO), including high abundances of combined Critical Rare Earth Oxides (CREOs).

Dr. James Clark, Vice President of Exploration for Rare Element Resources, states “Assay results are now in from all of the development and exploration core holes drilled during our 2012 program. We are extremely pleased with the results as most recent drill results confirm and further expand the quality and continuity of the Bull Hill REE deposit and the Whitetail Ridge resource area. We expect to significantly increase the Measured and Indicated resources in those deposits in preparation for the upcoming definitive Feasibility Study (dFS). Further, the results confirm the zones of HREE-enrichment (Eu, Tb, Dy, and Y) at Whitetail Ridge and Carbon and illustrate the significance of this world class source of CREOs.”

                    

Critical Rare Earth Oxides (CREO)

Critical rare earth elements (CREEs) are those with the highest value, and for which the strongest future growth is projected. We refer here to the oxides of Nd, Pr, Eu, Tb, Dy, and Y as Critical Rare Earth Oxides (CREO). In 2011, the Company identified significant HREEs (Eu, Tb, Dy, and Y) in leached FMR (F (FeOx)-M (MnOx)-R (REE minerals)) and oxide-carbonate dikes at the Whitetail Ridge resource area, and at the East Taylor and Carbon target areas (see news releases dated 4 August and 27 October 2011, and 10 December 2012). The current set of assay results from the Whitetail Ridge resource area and Carbon target confirm those important observations. Examination of aggregate significant intercepts from past drill results and the current set of drill assay results indicate that there is a district-wide zonation in which the strongest TREO enrichment occurs within a central zone focused on the Bull Hill and Bull Hill Northwest deposits, while the strongest HREE (Eu, Tb, Dy and Y) enrichment is found in mineralization peripheral to the central zone and focused at the Whitetail Ridge deposit, and at the Carbon and Taylor REE target areas (Table 1 and Figure 2). The peripheral enrichment zone is ascribed to a late-stage, low-temperature hydrothermal event.

Objectives of the 2012 Drill Program

The objectives of the 2012 drilling program were to expand and upgrade the district’s resource categories at the Bull Hill and Whitetail Ridge oxide deposits, and to further delineate the HREE (Eu, Tb, Dy, and Y) enrichment at the Whitetail Ridge resource area and Carbon target area. The drill results emphasize a Bear Lodge district-wide REE zonation, with a central zone of strong TREO enrichment that gives way to a peripheral zone with significant TREO and strong Eu, Tb, Dy, and Y enrichment.

The assay results from 35 core holes are announced in this release and include assays from 15 core holes at the Bull Hill REE deposit, 18 holes from the Whitetail Ridge resource area, and 2 holes from the Carbon REE target area.


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Monday rare earth market is still deserted, traders slightly mobilize quotes, concentrated in the lanthanum, cerium, gadolinium. Most cargo operators who offer more stable.

Market quote a higher degree is still concentrated in the oxide, gadolinium oxide, praseodymium, neodymium, addition some traders Alerts cheap gadolinia, market inquiries and turnover of other oxides are weak. Insiders reflect gadolinium oxide is a tax 140,000 yuan / ton, there are many traders very price including tax 150,000 yuan / ton. Praseodymium neodymium oxide market tax price is still $ 31-32 million / ton, excluding tax 26.3-26.5 yuan / ton. The lanthanum cerium-based oxide prices are still down 39 lanthanum oxide tax 3.6-3.8 yuan / ton, 395 cerium oxide tax of 3.5-4 yuan / ton offer both. Lanthanum cerium metal offer more stable, Baotou traders tax offer 60,000 yuan / ton, the Ganzhou traders offer slightly higher.
 

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Exact statistics are difficult to come by in the rare earths field, partly because there is no official statistics agency, partly because they rely on Chinese sources where smuggling occurs, and partly because the end uses are so disparate. The Industrial Mineral Corporation of Australia (IMCOA) are widely respected and gave some updated numbers in a November 2012 presentation.

The anticipated rare earth supply for 2012 was estimated at 112,500 tonnes of rare earth oxide against production of 106,000 tonnes. Global production of heavy rare earths at 7,000 tonnes was 40% below the estimated 10,000 tonnes demand with almost all of this being produced in China. Global demand is expected to increase to 160,000 tonnes by 2016 and to 220,000 tonnes in 2020. Demand for heavy rare earths is expected to increase 45% but supply expected to remain static at 7,000 tonnes.

          

The five elements which drive the economics of rare earth production (what Frontier calls the “Big 5” are neodymium, praseodymium, dysprosium, terbium and europium. The two demand sectors which consume the majority of these elements’ production are magnets and phosphors. IMCOA sees demand for these increasing rapidly, which will help to support their prices while other elements – such as lanthanum and cerium – may be in oversupply.


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Rare earths is a term commonly used to describe the 15 chemically similar, lanthanide elements which appear together towards the bottom of the Periodic Table. Two other elements, yttrium and scandium, which have similar chemical properties, are often also referred to as rare earths. Rare earths can be divided into "light" rare earths and "heavy" rare earths and both are present to varying degrees in all rare earth deposits. Rare earths are therefore recovered and processed together before sequential separation into individual rare earth elements. Prices for individual rare earths in pure oxide form can vary significantly with, generally speaking, the heavy rare earths trading at higher values. It should be noted the highest value heavy rare earth elements, namely europium, terbium and dysprosium, are contained at elevated levels at Zandkopsdrift by comparison to a number of other similar deposits being evaluated globally. It is also noteworthy that both the thorium and uranium content of the Zandkopsdrift resource are relatively low, at average grades of 178ppm and 47ppm respectively.

The oxides produced from processing rare earths are collectively referred to as rare earth oxides. Although rare earths are relatively common in the earth's crust, they often do not occur in high enough concentrations (or occur along with high levels of radioactive elements) to make their extraction economic. The oxides that are produced from processing the rare earth elements constitute the basic material that can be sold to the market or further processed into metals or alloys.> Their location in the periodic table is shown below.

        


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China is effectively the monopoly supplier of rare earth elements in the world today. It became the dominant supplier by producing and supplying rare earths in the 1990s and early 2000s at a price western producers could not compete. As a result China anticipated Chinese production in 2012 is 96,000 tonnes according to a November 2012 presentation by industry consultants Industrial Minerals Corporation of Australia (IMCOA).

Chinese demand for rare earths has also continued to rise with organic growth for current applications and new applications have been found for many of the elements and in 2012 this is estimated to be 69% of global demand, or 79,000 tonnes. This is expected to rise to 107,000 tonnes by 2016. At the same time, China’s supply of rare earths is expected to fall as China tightens up environmental controls and curb illegal mining.

                  

The Chinese government is actively trying to consolidate the rare earth industry into major mining groups to assert state control over the supply of rare earths which it views as a strategic asset. These groups will centre on the 3 main rare earth production areas in China:

BaoTou Hi-Tech representing the Inner Mongolia government is taking the lead in the BaoTou area which predominantly produces light rare earths

JiangXi Copper Corp is taking the lead in consolidation in the Sichuan area which produces mainly light rare earths

In the Ionic clay region in the south of China it is expected that consolidation will result in 3 producing groups, China Minmetals, Chinalco and China Mining. This is where most of China’s heavy rare earths will be produced

As a consequence of the rising demand and limited supply China has introduced export quotas which have limited the supply of rare earths to the rest of the world. The Chinese export quota has been reduced substantially since 2005, from 65,580 tonnes to 30,996 tonnes in 2012.


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