Consulting firm says the top 40 global mining firms earned a record profit of $133 billion last year driven mainly by iron ore, however their market capitalization fell by 25%.
China is looking to allocate a value-added tax (VAT) permit to all rare earth companies in a desperate effort to curb resource plundering, dangerous artisanal mining and widespread pollution, as well as collecting revenue.
Junior miner Matamec Explorations, currently developing the Kipawa rare earths project in western Quebec, Canada, said on Monday it had started a pilot plant to enable the continuous processing of ore samples.
Under the terms of the deal Neo Material stockholders had the option to either receive cash or shares in Molycorp, but so many chose the former option that it exceeded the maximum cash amount that could be paid out to them.
The prelimary economic assessment for the Ashram rare earth deposit in Quebec shows "robust economics," says Canadian explorer Commerce Resources (TSX-V:CCE).
Rick Rule's presentation at the New York Hard Assets Conference earlier this week sees some light for the informed junior resource investor despite current patterns which have mostly been Bad or Ugly!
Chinese authorities added 10,680 tonnes to the country's export allowance this week but it is something of a meaningless exercise because during the first quarter China only exported 26.3% of the initial quota.