News Bulletin

China's export restrictions make rare earth hopefuls cash in

WA rare earth hopefuls are jostling to cash in on the global supply squeeze created by China’s export restrictions as South Korea yesterday flagged plans to build a national stockpile of the sought after metals. Arafura Resources is in talks to raise up to $1 billion in project finance, Lynas Corp has suggested it could fast track plans to double production at Mt Weld and gold miner Navigator resources has tapped PCF Capital Group [MinesOnline.com’s associate company] to consider a sale or spin-off of its little known rare earth assets in the Kimberley region.
Rare earths have hit the headlines in recent months because of the decisions by China which accounts for about 95 per cent of global supply, to restrict exports. As a result countries that rely on rare earths, including the US, are seeking alternate sources of supply, and groups such as Lynas, Arafura and Navigator hope they could be the beneficiaries of that global appetite.
The term rare earths refers to 17 metals used in hybrid vehicles, computers and missile guidance systems.
(Sourced from an article in the West Australian, Business Section, Saturday 2nd October)

     

      

     

     

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