Heavy REEs Sought By US, EU

Resource Investor reported the growing demand for a rare earth element supply in North America and Europe, stating that while China controls most of the world’s supply, its reserves are not sustainable.

Editor and publisher of Gold Stock Trades, Jeb Handwerger, commented:

The US Geological Survey (USGS) came out with an estimate of global rare earth oxide (REO) reserves in 2011. It had China around 55 million tons (Mt), about 48.3% of global reserves. China came out with a report recently that indicates it will run out of critical heavy rare earth elements (HREEs) and that the country’s reserves are being depleted rapidly due to an exponential rise in demand.

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