News News
Contact us
  • Customer service number:64321087
  • Commercial service telephone:13918059423
  • Technical service telephone:13918059423
  • Contact person: Mr. Cui 
  • Service email:shxtb@163.com
  • Address: room 107, building 8, no. 100, guilin road, xuhui district, Shanghai

Canada's Hudson Resources seeks rare earth project partner to capitalize on trade war

The date of: 2019-05-31
viewed: 1

Source:Reuters Canada

TORONTO (Reuters) - Canadian Hudson Resources said on Thursday it is in talks with several parties about potentially partnering on its rare earth mining project in Greenland to take advantage of demand stemming from trade tensions between the U.S. and China. The Vancouver-based company is seeking a partner to advance the Sarfartoq project, which holds neodymium and praseodymium deposits, to capitalize on increased interest in supplies of rare earth elements that do not originate in China, it said in a regulatory filing.

As trade tensions between the U.S. and China have escalated, Beijing has hinted it may use its dominant position as a supplier of rare earths for leverage.

Shares of thinly-traded Hudson rose as much as 9 percent on the Toronto venture exchange, and were up 2.6 percent at 40 Canadian cents in late morning trade giving it a market value of C$71 million ($52.56 million).

The trade tensions have also boosted other tiny Canadian rare earth metal explorers, which are largely seen as speculative plays.

Avalon Advanced Materials Inc jumped 28% to a 20-month high, while Critical Elements Corp. advanced 28% on Wednesday and remained close to that level on Thursday. Ucore Rare Metals shares have nearly doubled in the last two days.

Hudson is focused on production at White Mountain, its anorthosite mine, also in Greenland, but wants to continue to move the Sarfartoq project forward, President Jim Cambon said in the statement, adding the company is open to discussions with other interested parties.

With efforts to build rare earth processing plants in the United States still in the early stages, China currently accounts for 80% of U.S. imports of the group of 17 minerals used in military equipment and high-tech consumer electronics.

Major U.S. companies from defense firms Raytheon Co and Lockheed Martin Corp to consumer electronics companies like Apple Inc use rare earth elements in their products.


Hot News / Related to recommend
  • 2019 - 08 - 16
    Click on the number of times: 0
    source:Australian MiningNorthern Minerals is set to raise $20 million, which will be used towards the progression of its Browns Range rare earths project in Western Australia.The capital will fund pro...
  • 2019 - 08 - 15
    Click on the number of times: 0
    source:Phys.OrgRare earth elements are the 'secret sauce' of numerous advanced materials for energy, transportation, defense and communications applications. Their largest use for clean energy is in p...
  • 2019 - 08 - 14
    Click on the number of times: 0
    source:Streetwise ReportsDefense Metals Corp. (DEFN:TSX.V; DFMTF:OTC; 35D:FSEQB) started the 2019 diamond drill program at its Wicheeda rare earth elements project in British Columbia, it announced in...
  • 2019 - 08 - 14
    Click on the number of times: 0
    source:Small CapsPerth-based Red Mountain Mining (ASX: RMX) has entered into an earn-in and joint venture agreement with Unearthed Resources Pty Ltd over two highly-prospective rare earths and nickel-...
  • Copyright ©Copyright 2018 2020 Shanghai rare earth association All Rights Reserved Shanghai ICP NO.05017621
    the host:Shanghai Association of Rare Earth the guide:Shanghai Development and Application Office of Rare Earth the organizer:Shanghai rare earth industry promotion center
    犀牛云提供云计算服务