China’s dominant position in the arena of rare earth metals used in new technology such as batteries for hybrid cars and
magnetic motors could be eroded by an Australian listed company – Greenland Mineral and Energy. The company is planning to list in London next year, pending the resolution of a couple of issues.
Greenland Minerals and Energy thinks it probably has access to the world’s largest depositis of rare earth metals and uranium — used to make nuclear energy.
Global consumption of rare earths last year is estimated at 135,000 tonnes or $1.5-$2.0 billion in 2008. Demand is forecast to grow by 65 percent by 2012 from 2008 levels.
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[...] Competition for rare earth metals: “ [...]
- Posted by Competition for rare earth metals via reuters.com | The China Military Security and Intelligence Blog 中国保卫情报博客 - ChinaSecurityBlog.comThe largest problem is that Greenland currently has a ban on Uranium mining. The second problem is the legal battles over who owns the Joint Venture. The third issue is the company’s links with some “colorful” characters. And the fourth issue is the Company’s lack of disclosure on who are its key shareholders.
I look forward to the company resolving these issues
- Posted by Stephen DowlingA dark horse in the race for rare earth metals dominance is U.S. Rare Earths, Inc., a U.S. company with vast American reserves that has lobbied fiercely for legislation to recognize the strategic importance of rare earth metals. The new U.S. National Defense Authorization Act for Fiscal Year 2010, which was signed into law by President Obama, shows that the Federal government has now recognized the value and importance of a domestic supply chain for rare earths. U.S. Rare Earths, Inc. is the only domestic “completely American owned” rare earth mining development venture that fits into that legislation.
- Posted by Patrick Kennedy@ Stephen Dowling:
- Posted by Andrew CashmoreUranium isn’t a rare earth metal
I have not been able to find any information on US Rare Earths, Inc. Is this a privately held company?
- Posted by Greg