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InvestorIntel reported that Grupo Mexico SA de CV (OTCMKTS:GMBXC), Mexico’s largest mining company, is thinking about producing rare earth elements in the country.
InvestorIntel reported that Grupo Mexico SA de CV (OTCMKTS:GMBXC), Mexico’s largest mining company, is thinking about producing rare earth elements in the country.
As quoted in the market news:
Results from research conducted by universities in Mexico have shown that there exist economically viable rare earths deposits in the States of Sonora and Chihuahua as well as further south in Oaxaca and Chiapas.
Grupo Mexico is also encouraged that the scientists have discovered rocks with high concentrations of interesting rare earths mining in Oaxaquia. The research also considered the extractive metallurgy processes needed to obtain rare earths from the host rocks. In Oaxacam they found concentrations of 10 to 15 percent; in Hidalgo four to five percent. In Coahuila, Sonora, Sinaloa and Durango the concentrations were about four percent, which are suitable numbers to justify mining investments. More exploration studies are planned in the States of Baja California and northern Chihuahua.
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