Stocks of companies engaged in rare earth mining are again on the move higher this morning after gaining in Tuesday's regular session following reports China reduced its rare earths export quotas by 11% in the first round of permits for 2011. The move could worsen a global shortage of minerals used for such products as smartphones, hybrid cars and guided missiles, according to media reports.
Rare Element (REE) is up 7% in light-volume early trade after notching a 10% gain Tuesday. China Shen Zhou Mining & Resources (SHZ) is advancing 3% this morning following a nearly 21% gain yesterday.
Rare Element is up 7% early Tuesday on the news, or by almost a $1, to $13.85.
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Showing posts with label Rare Earth Minerals. Show all posts
Showing posts with label Rare Earth Minerals. Show all posts
Wednesday, December 29, 2010
Sunday, November 21, 2010
China rare earth monopoly
Rare earth metals are a collection of 17 chemical elements that are key to the production of a long list of modern-day technologies.
Despite their name, the elements are relatively plentiful in the earth's crust. However, because of their geochemical properties, the elements are not often found in concentrated forms that are economically viable to extract. Mining them is not only complex but costly, so many countries are cautious.
China produces more than 95 per cent of the elements for the world's technology industry. The rest is supplied by the US, Estonia, India, Malaysia and Brazil.
That may change, however, as demand for rare-earth metals rises for use in products such as smartphones, electric and hybrid cars, common computer monitors and televisions.
Al Jazeera's Melissa Chan, reporting from Baotou in China, examines the importance of these elements.
Despite their name, the elements are relatively plentiful in the earth's crust. However, because of their geochemical properties, the elements are not often found in concentrated forms that are economically viable to extract. Mining them is not only complex but costly, so many countries are cautious.
China produces more than 95 per cent of the elements for the world's technology industry. The rest is supplied by the US, Estonia, India, Malaysia and Brazil.
That may change, however, as demand for rare-earth metals rises for use in products such as smartphones, electric and hybrid cars, common computer monitors and televisions.
Al Jazeera's Melissa Chan, reporting from Baotou in China, examines the importance of these elements.
Thursday, October 28, 2010
China Is Said to Resume Shipping Rare Earth Minerals
By KEITH BRADSHER
Published: October 28, 2010
BAOTOU, China — The Chinese government abruptly ended on Thursday its unannounced embargo of exports of crucial strategic minerals to the United States, Europe and Japan, although shipments to Japan still encountered some difficulties, four rare earth industry officials said.
After blocking shipments of raw rare earth minerals to Japan since Sept. 21, and to the United States and Europe since Oct. 18, Chinese customs officials, without explanation, allowed shipments to resume to all three destinations, said industry officials who insisted on anonymity because of the diplomatic sensitivity of the issue. Resumed shipments to Japan still face additional scrutiny and some delays.
read full article >>>>
Published: October 28, 2010
BAOTOU, China — The Chinese government abruptly ended on Thursday its unannounced embargo of exports of crucial strategic minerals to the United States, Europe and Japan, although shipments to Japan still encountered some difficulties, four rare earth industry officials said.
After blocking shipments of raw rare earth minerals to Japan since Sept. 21, and to the United States and Europe since Oct. 18, Chinese customs officials, without explanation, allowed shipments to resume to all three destinations, said industry officials who insisted on anonymity because of the diplomatic sensitivity of the issue. Resumed shipments to Japan still face additional scrutiny and some delays.
read full article >>>>
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