Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Oct. 17, 2011) – Quantum Rare Earth Developments Corp. (TSX VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3) (“Quantum”, the “Company”) is the focus of a recent special report in Larry Oakley’s Conservative Speculator financial newsletter. (To see the entire editorial, request a password by email from Oakley at [email protected].)
According to the investment report, the U.S. currently imports 100 percent of its supply of the strategic metal, niobium, for its industrial needs. The report noted that Quantum’s property at Elk Creek, Nebraska, has a 43-101 inferred resource of about 0.5 billion kilograms of niobium. In addition, deposits of Rare Earth Elements have also been found at Quantum’s 14-square-mile tract at Elk Creek.
The investment report cited demand for niobium in:
Only two companies now provide over 90 percent of the niobium to the world, the report said, in Brazil and Canada.
In addition to Elk Creek, Quantum has acquired prospective rare earth sites at Archie Lake, Saskatchewan, and two rare earth exploratory properties in the vicinity of Mount Weld, Australia.
Quantum Rare Earth Developments Corp., based in Vancouver, British Columbia, is a junior exploration company with a focus on seeking out potentially economic deposits of Niobium and Rare Earth Elements (REE) in North America and elsewhere in the world. Quantum has a strong management team developing the Elk Creek Carbonatite property, a project with a large NI43-101 compliant Niobium resource as well as substantial drill intercepts of Rare Earth Elements.
On Behalf of the Board,
Peter Dickie, President, CEO
