Mar 2 2015
SourcingLink.net, Inc. -- "We believe the rare earth metal (REM) industry is poised for a turnaround. Initially, we went into the area because of the recorded radiation readings by the Canadian Government. Our first exploration resulted in more findings than we had expected. We are excited for these early results," said Chuck Wagner, president of SourcingLink.net
According to the January 7th Reuters article, China supplies 90% of the world's REM supplies. There are only two companies outside of China that currently produce rare earth metals. When China restricted exports in 2010, REM's reached an all-time high. We feel a large reason these metals are currently low is that industrial nations are drawing down on their own stock piles. When these stockpiles are depleted, countries will need additional resources to supply these metals which SNET is working towards being a supplier.
"Beijing is expected to unveil new regulations for rare earth mining, processing and exports, perhaps including a value-added tax to replace the export tariff." Reuters, January 7, 2015. In our opinion, this translates to a higher price being paid by consumers.
What are rare earth elements? Rare earth elements basically consist of 17 seldom found elements that are present in the periodic table. Out of these 17 rare elements, 15 come under Lanthanide series. These 15 Lanthanides and 2 other elements: Scandium and Yttrium are together known as rare earth elements.-- www.matamec.com
What are the uses of rare earth? Rare earth elements have several industrial uses worldwide. They are primarily used in the electronic and electrical fields. Most of the rare earth elements mentioned above, along with their alloys, are being used in various electronic devices such as rechargeable batteries, computer memory, cell phones, DVDs, magnets, car catalytic converters, fluorescent lighting, and several other instruments.
Today, the worldwide demand for the mentioned electronic devices and instruments has quadrupled. To fulfill this ever-increasing global demand, it is essential to have more supply of rare earth metals. -- www.matamec.com
About The Eldor Project:
SourcingLink.net, Inc. signed an agreement to acquire 100% interest in the Eldor Rare Earth Property Claims (The Eldor Project) located in Northern Quebec, Canada (one of the most favorable mining jurisdictions in the world). The Eldor Project consists of 334 mineral claims covering approximately 3951 acres and is located in Northern Quebec which is considered one of the most favorable mining jurisdictions in the world.
Source: http://www.sourcinglink.org/