IAMGOLD has updated on the rare earth elements (REE) exploration nearby the Niobec niobium mine in Canada. The location of the recognized rare earth element zone (REE zone) is around 1 km to the northern part of the Niobec mine.
Monarques Resources has announced the results of five diamond drill holes from the 2011 winter exploration program conducted at its Arques property, which is a part of Monarques’ lengthy package of polymetallic property, Quebec.
In a world scrambling to find new sources of Rare Earth Elements Afghanistan offers much promise. As per the U.S. Geological Survey the country holds 1 million metric tons of rare earth element resources in the Helmand Province. U.S. defense officials estimated in 2010 that there could be as much as $1 trillion worth of iron, copper, cobalt, gold and lithium in Afghanistan.
Molycorp Minerals has decided to invest in Boulder Wind Power, a wind turbine maker. The green energy company is trying to raise $35 million in capital by selling convertible preferred stock.
Critical Elements has discovered a new in-situ mineralization of allanite or colombite, molybdenite and phosphate at its BC Niobium, Tantalum & Rare Earths Elements property.
Rare earth elements are a group of metals that are useful in the manufacturing of high-tech gadgets and green technology. 95% of the world’s supply of these elements comes from China. The new restrictions that the nation has placed on the exports of these elements has adversely affected the global electronics industry.
China is temporarily halting the production of a rare earth metals in three mining districts in Jiangxi Province city. The Xinhua News Agency said that Gangzhou which is the largest producer of the rare earth metal called dysprosium has been ordered to comply strictly with the annual production quota.
There is a considerable dependence at present for Rare Earth Elements (REEs) on China at present. Given that it supplies more than 95% of the world’s needs that is hardly surprising. However the dependence on China may be on the decline as many nations struggle to develop their own resources to diminish the hold of the Chinese monopoly on these rare elements.
Quantum Rare Earth Developments declared on Tuesday that it has found encouraging assay results at 2 holes from the spring / summer 2011 exploration program at its Elk Creek property. The Elk Creek project is located in south-eastern Nebraska.
UQM Technologies has been selected to develop a unique motor that does not make use of rare-earth magnets. It will receive an advance of $3 million from the Department of Energy as part of the $175 million that it gives out for advanced vehicle research.
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