Quantum calls on US government to stockpile REEs; investors shorting rare earth stocks
Surging prices of rare earth elements, coupled with slashed export quotas from China, are creating ripples in the rare earths industry, including a call for the US government to start stockpiling the materials.
Vancouver-based Quantum Rare Earth Developments Corp. (TSX-V:QRE; OTCQX:QREDF; FRANKFURT:BR3) issued a news release Friday calling on the U.S. to start stockpiling rare earths— voicing support for recent US legislation that directs the Department of Defense to set up an inventory of rare earth oxides, metals, alloys, and magnets for defense purposes.