A report from Canada’s House of Commons Standing Committee on Natural Resources emphasizes that the country’s “position is unique with respect to REE development not only because of its rare earth reserves, but also because of the country’s stable environment and mining expertise,” according to Mineweb.
But experts say a gradual increase in demand by major consuming nations like Japan could give prices a lift.
Reuters Africa reported that Pacific Wildcat Resources (TSXV:PAW) increased its rare earth resource estimate at its Kenya property.
Oil Price reports that Mongolia is in an intense bidding war with its neighbors China and Russia over its rich resources.
Rare earth prices have jumped again, up nine fold from a year ago. The news of the increase in price also come at the same time that a new tax is levied on heavy and light rare earths differently, setting the stage for a potential change to export policy.
Russia is home to the second largest deposits of rare earth elements in the world, yetthe nation produces almost no rare earth. Two Japanese companies are looking to deposits in Russia as a saving grace for new supply. Also former Soviet satellites have deposits of their own and Germany and
The ferro-tungsten market has been stagnant in recent weeks, with only a handful of transactions taking place. Last Friday, in China, inactivity translated into a dip in prices. Ferro-tungsten fell to $25.90 a kilogram, down from the recent rate of $28.00 per kilogram.