The race is on to find, and bring to production, rare earth mines outside of China, and the competition is being pushed by both governments and companies looking to secure a long-term stable supply of much needed rare earths.
Valencia Ventures Inc. (CVE:VVI) decides to terminate the agreements to acquire OntarioCo's interests in the Diana Project and the Carb Lake, Schryburt Lake and Lawashi River Properties.
Nikkei reports that on Thursday, a team of researchers, primarily from Toda Kogyo Corp. (TYO:4100) and Tohoku University, succeeded in making a magnetic material without rare-earth metals.
Great Western Minerals Group Ltd. (CVE:GWG) reports that the company has completed the purchase of 92.6% of the shares of Rare Earth Extraction Co. Limited.
Bloomberg reports that Japan’s government and more than 100 companies intend to spend 110 billion yen ($1.3 billion) on facilities to reduce the country's reliance on rare earth imports.
Associated Press reports that a consortium of Japanese and South Korean companies intend to take a $1.95 billion stake in a Brazilian rare earth mining firm.
The Australian reports China's chief rare earths research body says it expects the nation to become a net importer, even though it is the world's biggest producer.
Seymour Ventures Corp. (CVE:SEY) signs the Definitive Share Exchange Agreement to acquire 100 per cent of the issued and outstanding shares of Rare Earth Industries Ltd.
Montero Mining & Exploration Ltd. offers shares before a planned listing in Toronto to fund exploration as Chinese export restrictions threaten global supply.
Seeking Alpha reports that Rare earth stocks, Vanadium miners and related Chinese miners have been in a correction since their run up late last year.
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