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Most Non-Chinese Rare Earth Projects Doomed: Consultant
Nov. 01, 2011 02:50PM PST
Rare Earth InvestingReuters reported that mining industry consultant Jack Lifton predicts failure for most rare earth projects operating outside of China.
Reuters reported that mining industry consultant Jack Lifton predicts failure for most rare earth projects operating outside of China.
As quoted in the market news:
Of the 244 companies hoping to produce the rare earth metals essential to a wide range of high-tech industries, less than 4 percent will prove profitable, the strategic metals consultant told Reuters.
Consultant Jack Lifton said:
“The choke point for all the companies is the question of what they can do with the concentrated REM ore once it’s above ground. You can extract the rare earths together, but then you have to separate them…the world’s REM separation capacity is 99 percent Chinese and they have unused capacity.”