More threats of trade disputes from Japan and the US towards China’s tight economic policy help shares of rare earth juniors as investors eye gains from reduced global supply. Also, the US House of Representatives passed the “Rare Earth and Critical Materials Act” providing funding for rare earth mining operations.
Medallion Resources Ltd (CVE: MDL) and Rare Element Resources (AMEX: REE, CVE: RES) report that they have significantly expanded their Eden Lake rare-earth-element property, Manitoba by staking six additional mineral claims. Medallion is exploring the Eden Lake property under a joint venture option agreement with Rare Element that gives Medallion the right to earn a 65% interest. For [...]
Rare Earths are not found as free metals in the earth’s crust, but rather within a mixed ‘cocktail’ of Rare Earth elements that need to be separated out into their individual components. To make exploration for rare earth elements profitable, deposits need to be discovered in areas where REEs occur in dense concentration, and there are very few areas in North America where the rare earths are found in abundance.
The ‘RESTART’ Act proposed in the US congress is aiming to reduce America’s dependence on China for the supply of rare earth elements vital for US weapons and defense industries as well as electronics and green technology companies. The bill seeks to assist mining and processing operations, as well as create a strategic stockpile of various rare earth elements.
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