Source:ReutersBEIJING (Reuters) - China, the world’s top producer of rare earth elements, last year also emerged as the biggest importer of the group of minerals used in everything from ceramics to consumer electronics, analysts said on Wednesday.China has for years been the world’s biggest rare earths exporter, raising shipments overseas by 4 percent year-on-year to more than 53,000 tonnes in 2018, and its emergence as the top importer as well is a sudden and surprising development.The country imported 41,400 tonnes of rare earth oxides and oxide equivalents in 2018, up 167 percent year-on-ye...
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Source:Investing NewsShares of the company were down 9.09 percent on Tuesday (March 12), following the release of the company’s half-year results for the last six months of 2018, which indicated a total loss of US$3.2 million.“From a production perspective, the six months ended 31 December 2018 were challenging, particularly from the operation’s first pit, Gasagwe, which has provided almost all the ore mined from the Gakara project to date,” company CEO Martin Eales said in the press release.Despite production not reaching the estimated targets, it was still up from the previous period. Recent...
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Source:Tech-DailyRare earth elements have become one of the most strategically important materials on Earth. Many high-tech industries depend on rare earth elements like neodymium and dysprosium for solar and wind energy and electric vehicles, as well as modern electronics like smartphones and medical devices. Rare earth elements are especially rare, but do not often accumulate in sufficient concentrations to be financially viable for extraction. Currently China controls almost 90% of the supply of rare earth elements—a fact that has some national security experts nervous.There are a variety o...
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Source:Investing NewsBattery metals lithium and cobalt tend to get the most attention in electric vehicle (EV) discussions, but according to Byron King, rare earths are “the real secret to EVs.”Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, King, who is editor of Rickards’ Gold Speculator at Agora Financial, said, “first of all, there are rare earths in the batteries; and second of all, the traction motors … those traction motors run on strong rare earth magnets.”He added, “and you’re talking about moving from a few ounces of rare earths in a car to sever...
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