AEMA, coalition launch legal challenge to BLM Conservation and Landscape Health Rule
The American Exploration & Mining Association was joined by a coalition in filing a challenge last Friday in the Wyoming district court.
NEW YORK, NY–(Marketwire – Jan 2, 2013) – Rare earth stocks struggled in 2012 as prices for the metals plunged due to weak economic growth and new supplies from non-Chinese producers. The Market Vectors Rare Earth/Strategic Metals ETF (REMX), which tracks the performance of companies engaged in activities related to the producing, refining and recycling of rare earth and strategic metals and minerals, has fallen 11.8 percent in 2012. Five Star Equities examines the outlook for companies in the Rare Earth Industry and provides equity research on Rare Element Resources Ltd. (NYSE: REE) (TSX: RES) and Quest Rare Minerals Ltd. (NYSE: QRM) (TSX: QRM).
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Rare earth prices have plummeted 77 percent from their high in 2011. Due to a slowdown in foreign demand China, the world’s largest exporter of rare-earths, has decided to lower their 2013 export quotas. The Taipei Times has recently reported that China’s Ministry of Commerce set the first round of 2013 rare earth exports at 15,501 tons, which is 27 percent below 2012.
“If overseas demand picks up next year, the government may increase its second-batch quota,” said Wei Chishan, a Shanghai-based analyst with SMM Information & Technology Co.
Five Star Equities releases regular market updates on the Rare Earth Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
Rare Element Resources was specifically created to develop the Bear Lodge rare-earth-element and gold deposits in northeast Wyoming. The Bear Lodge Project contains one of the largest disseminated rare-earth element (REE) deposits in North America. Shares of the company spiked last month after reporting REE assay results from 21 drill holes completed during the ongoing 2012 drilling program.
Quest is currently advancing several high-potential rare earth projects in Canada’s premier rare earth exploration areas: the Strange Lake and Misery Lake areas of northeastern Québec. The company in October reported that a revised resource estimate for its B-Zone rare earth element deposit within the Strange Lake Project, Québec has shown a doubling of tonnage.
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