China’s Weakening Hold on the Global Rare Earths Market

China’s Weakening Hold on the Global Rare Earths Market

China was once responsible for over 90 percent of global rare earths production, allowing it to restrict exports and manipulate prices. However, following a WTO ruling against that practice earlier this year and moves to crack down on illegal mining, China's share of global rare earths production could be dropping.

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Company News

Texas Rare Earths Signs Option to Purchase 5,670 Acres of Surface Rights

Texas Rare Earth Resources Corp. (OTCMKTS:TRER) has executed agreements with the Texas general land office to purchase surface rights covering the area for its potential Round Top project. The company also signed a ground water lease for necessary for operations.

Medallion Resources Starts Laboratory-Scale Rare Earth Monazite Processing

Medallion Resources Starts Laboratory-Scale Rare Earth Monazite Processing

Medallion Resources (TSXV:MDL,OTCQB:MLLOF) announced the start of lab-scale extraction tests of rare earths from monazite. The extraction will use the standard commercial monazite process to produce a rare-earth chemical concentrate, co-products and waste materials of the type expected from a commercial operation.

Stans Energy Receives Extension for Injunction

Stans Energy Corp. (TSXV:HRE,OTCQX:HREEF) announced that the Ontario Superior Court of Justice has given it an extension for a previously announced injunction.

NioCorp Developments Options Archie Lake Property

NioCorp Developments (TSXV:NB)has signed an agreement to option its wholly owned Archie Lake property in northern Saskatchewan to Ablerta Star Development Corp.

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Market News

Further Consolidation Expected in China’s Rare Earth Industry

Three companies are planning to further consolidate the rare earth industries this week, according to China Daily. The Ministry of Industry and Information Technology in China released the news at a rare earth forum held in Xiamen city October 23.

Rare Earth ETF Lacking Support From China Supply Worries

ETF Trends reported that the Market Vectors Rare Earth/Strategic Metals ETF (NYSEArca: REMX) has seen a poorer performance as of late due to falling rare earth prices and easing worries surrounding fears of restricted supply from China.

China Says 40 Percent of Magnetic REE Supply Illegal

Simon Moores of Benchmark Minerals reported that a much larger portion of China's rare earths production is illegal than initially anticipated. Specifically, a large portion of rare earth elements used in the production of high strength magnets has been found to be illegally produced.

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