Montero Offers Shares Before Listing to Fund Rare-Earth Plan

Bloomberg reports that Montero Mining & Exploration Ltd. offers shares before a planned listing in Toronto to fund exploration as Chinese export restrictions threaten global supply.

The market news is quoted as saying:

China, which accounts for more than 90 percent of world rare-earth supply, cut export quotas by 72 percent in the second half of 2010, boosting prices and prompting plans by North American and Australian mining companies to start production. Rare earths are a group of 17 chemically similar elements, used in renewable energy, magnets, electric cars and weapons.

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