TORONTO, ONTARIO–(Marketwired – July 5, 2016) – Pele Mountain Resources Inc. (TSX VENTURE:GEM) (OTCQX:GOLDF) (“Pele” or the “Company”) announced today that Pele and Chalice Gold Mines (TSX:CXN) (“Chalice”) have entered into a purchase agreement whereby their respective operating subsidiaries will sell their respective interests in the Ardeen Gold Project to
Friday May 20th the first annual European Rare Earth Roundtable, hosted by Adamas Intelligence and the Technology, Rare and Electronic Materials Center. Following the event, the Investing News Network reached out to Ryan Castilloux of Adamas Intelligence to get some updated insight into the market.
Pele Mountain Resources (TSXV:GEM) provided an update regarding development plans for its rare earth processing center near its Eco Ridge property. The company is also pursuing the development of solar energy power projects.
As quoted in the press release:
Progress on Monazite Processing Project
Pele continues to pursue the sustainable development of a
Mining.com reported that up to 90 percent of rare earth producers in China are operating at a loss due to lower rare earth prices.
The fate of rare earth mining companies outside of China could be heavily tied to the country’s efforts to crack down on rare earth smuggling in the country, Reuters reported. According to the news outlet, up to 40,000 tonnes of rare earths were smuggled out of China last year, helping
Pele Mountain Resources (TSXV:GEM) has signed a non-binding memorandum of understanding (MOU) with Sheng Kang Ning (Shanghai) Mining Investment to pursue the opportunity of developing rare earth processing facilities at Pele’s Eco Ridge property in Ontario.
Greenland’s elected parties are meeting together to discuss a coalition and see if a referendum on the state of uranium mining in the European country is on the cards.
InvestorIntel recently reported that China’s Ministry of Industry and Information Technology and Ministry of Finance have together released a draft of a regulation that would “subsidize rare earth producers that develop advance technologies and run environmentally friendly operations.
2014 should be a better year for rare earth prices, as demand picks up and supplies tighten.
Chinese rare earth miners are being forced to phase out excessive production capacity as rising overseas suppliers chip away at their dominance in the global market, Xinhua reported via Global Times.
US Rare Earths recently published assays from surface channel sampling at its North Fork properties; they reveal total rare earth oxide grades of up to 10.3 percent.