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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.

Sep 23, 2011

Big-name celebrities irk Ottawa in pipeline debate

TORONTO (Reuters) – Canada’s energy minister shot back on Friday at Hollywood celebrities protesting a plan to build a $7 billion oil pipeline to Texas from Alberta in the first public indication that the protests are getting under Ottawa’s skin.

Joe Oliver, the minister in charge of energy, said increasingly vocal critics opposing the project on environmental grounds may become a threat to his government’s plans to cement Canada as the dominant North American energy supplier.

Sep 17, 2011

Women directors shine at Toronto film festival

TORONTO (Reuters) – Madonna may have stolen the lion’s share of the headlines, but there were plenty of films by women directors earning a lot of buzz at this year’s Toronto International Film Festival, which draws to a close on Sunday.

From the invention of the vibrator to the aftermath of a school massacre, women brought comedy and complexity to the event that helps launch Hollywood’s Oscar season.

Sep 16, 2011

Dealtalk: Cameco may go unchallenged in hostile Hathor bid

By Julie Gordon and Bhaswati Mukhopadhyay

(Reuters) – Hathor Exploration (HAT.TO: Quote, Profile, Research, Stock Buzz) might have trouble finding a white knight to rescue it from the clutches of Cameco Corp, the uranium giant whose C$520 million ($530 million) hostile offer stands a much better chance of succeeding than any foreign bid.

Cameco, Canada’s largest uranium producer, faces none of the hurdles that a non-Canadian company would have to clear in acquiring a strategic asset such as Hathor. Only last year, Canada’s federal government shot down a $39 billion Anglo-Australian bid for Potash Corp, the world’s largest fertilizer producer.

    • 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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