Cobalt

Exploration Orbite VSPA has discovered the presence of high-value byproducts such as scandium, gallium and other important rare earth elements in its Grande-Vallée deposit in the Gaspé region of Quebec, all of which offer strong economic potential for the company and for Canada, the company believes.

Exploration Orbite (TSX VENTURE:ORT.A) is pleased to announce the presence of high-value by-products such as scandium, gallium and other important rare earth elements in its Grande-Vallée deposit, all of which offer strong economic potential for the company and for Canada. The Company is also pleased to announce its filing of a provisional U.S. patent application that extends protection for its existing patented technology to the extraction of scandium, gallium and other rare earth elements from aluminous clay.

South African miner Metorex (MTXJ.J: Quote) said on Monday that if there were any other serious offers to acquire it aside from one launched by Brazil's Vale (VALE5.SA: Quote) it would have to consider them. "If there are other serious and 'firm' offers for Metorex, the company has a duty to consider them and will of course consider any such offers in the best interests of its shareholders," Metorex CEO Terence Goodlace said in an e-mailed response to questions submitted by Reuters.

U.S. Rep. Mike Coffman's rare earth legislation may have lit a fire under Molycorp's stock price, which rose 10.3% on Thursday trading. Coffman, Republican congressman representing Colarado, introduced legislation on Wednesday calling for a variety of measures that would better ensure that the United States has secure access to rare earth metals. Molycorp stock finished Thursday at $68.45. The stock's 52-week range is $12.10 to $68.79.

The US$89 million shares-and-cash acquisition of Estonia's AS Silmet by Colorado's Molycorp means both rare earth companies "will be able to take advantage of the very robust price situation in the market right now," Molycorp CEO Mark Smith said during a conference call with analysts Monday.

As Molycorp refurbishes and ramps up its Mountain Pass facility, the company hopes the acquisition of Estonia’s AS Silmet provides a short-term […]

China has increased its 2011 rare earth export quota, says an article by International Business Times: China has set its total output of rare earth at 93,800 tonnes this year, 4,600 tonnes more or 5.16 percent higher compared to last year's, the Ministry of Land and Resources said this week.

China will increase a tax on rare earths from April 1, the official Xinhua News Agency said on Thursday. The State Administration of Taxation website carried a local media report, saying the resource tax would be raised to 30-60 yuan per tonne, depending on the type of rare earth mineral, a substantial increase from the current level of 0.5-3 yuan per tonne.

China's exports of rare earth metals burst through the $100,000-per-tonne mark for the first time in February, up almost ninefold from a year before, while the volume of trade stayed far below historical averages. China's squeeze on rare earths, which are used in a wide range of hardware including precision-guided weapons, hybrid car batteries and iPads, has forced prices up dramatically since July last year, when each tonne fetched a mere $14,405 on average.