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Latest Stories

Lynas protests spread to Sydney

A small group of protestors converged on Lynas Corporation’s annual general meeting in Sydney yesterday in opposition to the company’s rare earth refinery in Malaysia.

Stocks rally, lifting commodities

North American stock exchanges are on a tear today after central banks made more funds available to lenders, giving investors hope for a way out of the European debt debacle. The markets were also cheered by better than expected private sector job growth in the United States. The mining-heavy S&P/TSX Composite was up 2.5% to just over 12,000 at time of writing. The Dow Jones Industrial Average gained 384 points, or 3.3%, the most on a closing basis since Aug. 11, according to Bloomberg. Spot gold was up $32 from yesterday to $1747 which is just above the 20-day moving average of $1744, noted Kitco. Silver was up marginally to $32.86 from yesterday's $31.92, while benchmark copper was up more than 5% to a two-week high of $7,885/tonne. Zinc, lead, aluminum and nickel were also up from Tuesday.

Try keeping a poker face while bidding on this $150,000 diamond and meteorite slice gambling set

One of the more unique lots at Christie's Magnificent Jewels auction on November 29 in Hong Kong is likely to be a set of poker chips made by the Swedish artist and jeweller Kristian Ståhl. The 120 chips are made of 18K white gold and are set with a total of 5,160 calibrated top-quality diamonds, rubies and sapphires. But what makes the set truly unique is that each chip was sliced from the 1 million year old Muonionalusta meteorite that contains iron, nickel and rare earths. The set is estimated at $100,000 – $150,000 and Stahl said he was inspired to create it after his Siberian mammoth ivory dice sold well at auction last year.

Major Processing Design Improvements Boost Recovery of Critical Rare Earths at Pele Mountain’s Eco Ridge Mine Project

Pele Mountain Resources Inc. (TSX Venture: GEM; OTCQX: GOLDF) (“Pele” or the “Company”) today announced that processing design improvements have resulted in sharply higher recoveries of critical rare earth oxides (“REO”), including neodymium, dysprosium and yttrium oxides, (Pele’s “Big 3 REO”) at its Eco Ridge Mine Rare Earths and Uranium Project (“Eco Ridge” or the “Project”) in Elliot Lake,Ontario.

China’s rare-earth domination keeps wind industry on its toes

Wind turbine manufacturers are scrambling to find alternatives to a key element used in direct-drive permanent magnet generators (PMGs), thanks to skyrocketing prices and diminishing supplies of crucial rare earths. China currently provides 94% of the world's rare earths, including neodymium and dysprosium, which are used in the magnets for direct-drive wind turbine motors. However, the Chinese government has put new restrictions on rare-earth mining that have resulted in lower supply levels, according to a report from research firm Roskill Information Services (RIS).

Rare earth prices plunging as manufacturers turn to substitutes

The prices of rare earth elements, which have enjoyed a three-year run, are dropping rapidly, reports New York Times. The reason, says The Times, is on the manufacturing side, as big companies in the US, Europe and Japan that use REES in manufacturing move operations to China, draw down inventories, and look for lower-cost substitutes: International prices for some light rare earths, like cerium and lanthanum, used in the polishing of flat-screen televisions and the refining of oil, respectively, have fallen as much as two-thirds since August and are still dropping. Prices have declined by roughly one-third since then for highly magnetic rare earths, like neodymium, needed for products like smartphones, computers and large wind turbines.

EU study says China’s grip on rare earths could choke green energy plans

A new European study says supply shortfalls of rare-earth elements over the next two decades put at risk the EU's ambitious plans to expand the production of solar, wind and green transport technologies and implement carbon-capture systems. According to the EU's Joint Research Centre, solar will require half the current world supply of tellurium and 25% of the supply of indium, while Europe’s wind energy programme which is supposed to power all of the continents 240 million households within 20 years need a steady supply of neodymium and dysprosium. China controls 95% of the globe's rare earth output in 2010 produced more solar panels than the rest of the world combined.

Frontier Rare Earths provides an update on its Zandkopsdrift rare earth element in South Africa

TORONTO, ONTARIO--(Marketwire - Nov. 15, 2011) - Frontier Rare Earths Limited (TSX:FRO)(TSX:FRO.WT) is pleased to provide an update on operational progress at its Zandkopsdrift rare earth element project in South Africa and related corporate activities. "We are very encouraged by the progress of work on the preliminary economic assessment for our flagship Zandkopsdrift project, and expect to announce the results early next year," said Mr. James Kenny, President and CEO of Frontier Rare Earths. "We believe that the PEA will clearly demonstrate the significant economic potential of Zandkopsdrift and this will leave Frontier well positioned to become one of the major producers of rare earths globally commencing in 2015."

Katanga gets $635 million to build world’s largest cobalt mine

Katanga Mining announced on Friday it has secured $635.5 million in new loan facilities from parent Glencore International to fund the expansion of its Democratic Republic of Congo copper-cobalt mine. The Toronto-listed firm wants to bump copper production to 270,000 tonnes per annum and thereafter bump it up to 310,000 tonnes from cash flow. The company is already ramping up copper production with financials results also out on Friday showing year to date copper in ore mined was 157,658 tonnes, a 96% increase over 2010. Cobalt produced fell 30% to 593 tonnes, but that was in line with expectations. Katanga says with the expansion the DRC complex it could become Africa's largest producer of copper and the world's number one cobalt mine.