Nickel

Geodex has acquired by staking the Jake Lee project covering approximately 3800 hectares located 80km south of Fredericton. Geodex will conduct an exploration program focused on the rare earth elements ("REE") potential with a secondary focus on gold and base metals based on the geology and supported by regional government sampling and assessment report data.

Demand for rare earth metals is likely to continue growing at double digit annual rates for the foreseeable future but, the supply side does not look quite as rosy. According to Molycorp CEO, Mark Smith, while a lot of production has been forecast from a number of small producers, very little of it is likely to come on stream in five years.

Glencore International plc plans to raise up to $12.1 billion in a London and Hong Kong IPO, according to a term sheet seen by Reuters on Thursday, cashing in on a resources boom and giving the trading giant the fire power to grow through acquisitions. The much anticipated initial public offering, set to value the company at up to $60 billion, will mark the end of four decades of closely guarded privacy for the world's biggest commodities trading company.

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.

Nunavut is attracting the attention of the world's miners like never before, says Scotiabank commodities analyst Patricia Mohr, speaking at a mining summit in the mineral-rich Canadian northern territory. Nunatsiaq Online reports: Pushed by the developing world’s growing hunger for consumer items, civil unrest in many countries, and “random” events like the recent tsunami, earthquake and nuclear power plant disaster in Japan, mining companies around the world are eying Nunavut with far more interest than before.

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.