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Nov 10, 2011

Neo Material profits rise, but lower prices ahead

Nov 10 (Reuters) – Neo Material Technologies
reported a record third-quarter profit on Thursday, beating
market expectations, but said rare earth prices had eased from
recent highs and may keep falling in the fourth quarter.

Neo Material said volumes fell in the quarter to Sept. 30,
as customers shied away from buying material in the pricey
market. It expects sales volumes to stay at similar levels for
the rest of 2011. But income rose five-fold as record rare
earth prices boosted revenues.

Nov 9, 2011

Vanadium miners ready, hoping for green tech boom

TORONTO, Nov 9 (Reuters) – A little-known metal used in
steelmaking could emerge as a game-changer for battery
technology, raising the prospect of an investment boom like the
one that lifted rare earths out of obscurity last year.

Electric cars fueled by vanadium could one day travel
hundreds of miles on a six-minute charge, while renewable
energy sources like wind and solar could use vanadium batteries
to rival coal in terms of reliability. The technology could
boost demand for the metal by more than 35 percent in the next
two or three years, analysts say.

Nov 7, 2011

Cameco misses estimates, shares tumble

Nov 7 (Reuters) – Uranium producer Cameco Corp
said on Monday that its third-quarter operating profit rose on
higher uranium sales volumes and better realized prices, but
fell short of analysts expectations for the quarter.

Shares of Canada’s top uranium producer were down 8 percent
at C$20.01 on Monday morning on the Toronto Stock Exchange
following the results.

Oct 20, 2011

Molycorp speeds up plan to boost rare earth supply

Oct 20 (Reuters) – Molycorp , the largest supplier
of rare earths outside of China, will open a California
processing plant months ahead of schedule, easing the threat to
Western manufacturers posed by Chinese export controls.

The new plant, which will refine rare earths into oxides
and metals used in smartphones, wind turbines and a range of
other high-technology products, is expected to start initial
production in early 2012, about three months earlier than
previous estimates.

Oct 19, 2011

Rio tops Cameco in Canadian uranium bid

TORONTO (Reuters) – Rio Tinto (RIO.AX: Quote, Profile, Research) (RIO.L: Quote, Profile, Research) entered the battle for Hathor Exploration (HAT.TO: Quote, Profile, Research) on Wednesday with a C$578 million (359 million pound) friendly takeover offer for the Canadian uranium explorer that tops Cameco Corp’s (CCO.TO: Quote, Profile, Research) hostile bid.

The attraction of Hathor for both miners is its large exploration-stage Roughrider project in the uranium-rich Athabasca region of Saskatchewan in Western Canada.

Oct 19, 2011

Rio outdraws Cameco in bid for Canada uranium firm

TORONTO (Reuters) – Global miner Rio Tinto (RIO.AX: Quote, Profile, Research, Stock Buzz) (RIO.L: Quote, Profile, Research, Stock Buzz) entered the battle for Canadian uranium explorer Hathor Exploration (HAT.TO: Quote, Profile, Research, Stock Buzz) on Wednesday with a C$578 million ($572 million) friendly takeover offer that topped a hostile bid by Cameco Corp (CCO.TO: Quote, Profile, Research, Stock Buzz), one of the world’s biggest uranium producers.

The attraction of Hathor for both miners is its large exploration-stage Roughrider project in the uranium-rich Athabasca region of Saskatchewan in Western Canada.

Oct 6, 2011

Mongolia, Ivanhoe, Rio agree on mine; shares rise

LONDON/TORONTO (Reuters) – The Mongolian government, Ivanhoe Mines (IVN.TO: Quote, Profile, Research, Stock Buzz) and partner Rio Tinto (RIO.L: Quote, Profile, Research, Stock Buzz) have agreed to back a 2009 investment agreement for the Oyu Tolgoi copper-gold deposit, ending discussions over possible changes and sending shares of Ivanhoe up as much as 18 percent.

The news calmed investors, who had sold off the stock last month after Mongolia’s finance minister told local media that the government was discussing changes to the terms and conditions of the agreement.

Oct 4, 2011

Molycorp is developing new rare earth deposit

Oct 4 (Reuters) – Molycorp (MCP.N: Quote, Profile, Research, Stock Buzz) is developing a new
deposit near its Mountain Pass mine in California that could
enable the company to produce more of the valuable heavy
rare-earth metals used in hybrid cars and wind turbines.

The project, which the company will announce at a
conference in Washington on Tuesday, is the first of four new
heavy rare-earth deposits that the company is exploring, its
chief technology officer, John Burba, told Reuters.

Oct 2, 2011

Alaska may become Silicon Valley of rare earths

TORONTO, Oct 2 (Reuters) – A rare earth project nestled
into a mountain ridge on Alaska’s Prince of Wales Island may
unlock a motherlode of resources, bringing needed jobs and
opportunity to the state and offering a secure supply of the
strategic metals for the high-tech sector.

Between the Bokan Mountain deposit, owned by Canada’s Ucore
Rare Metals (UCU.V: Quote, Profile, Research, Stock Buzz), and the nearby city of Ketchikan, Alaska,
state legislators see the potential to build up a lucrative
rare earth mining and processing industry, with exploration
companies set to exploit about 70 promising sites already
identified by state geologists.

Sep 28, 2011

TSX extends losses as commodities weigh

TORONTO, Sept 28 (Reuters) – Toronto’s main stock index
retreated further on Wednesday afternoon, pressured by falling
commodity prices, as uncertainty over Europe’s debt crisis
continued to dog the market.

The TSX had rallied more than 3 percent in the previous two
sessions on hopes that euro zone leaders were readying decisive
action to tackle the region’s debt woes.

    • About Julie

      "I currently cover mining and minerals out of the Toronto bureau, where I focus on uranium, silver, platinum, lithium and REEs. Prior to moving to the mining sector, I worked as an online editor and video producer for Reuters.com. I started at Reuters as a TV intern in Chile and before that, I freelanced in Eastern Europe and spent eight months living in the Galapagos Islands."
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