RareMetalBlog

Letters from Shanghai: Chinese Increase Regulations to Counter Volume of Rare Earths Being Smuggled, Industry Conglomeration Underway

2012-06-02T16:34:07-04:00

During an interview last May 17th, Jia Yinsong, the Director of Rare Earths Office of the Ministry of Industry and Information Technology said, “…according to the 2011 quota, the export volume for rare earths should have been 18 thousand tons, but the actual amount is 36 thousand tons. This means that nearly half of the rare earths production is smuggled. MIIT will therefore start regulating the industry from the initial mining process to production and distribution. The process will be managed through the use of new and special invoices which will need to be acknowledged from one phase to the other in order to confront the smuggling activity.” Now, MIIT and the Chinese Customs Authority are inviting entrepreneurs to meet to discuss the best ways of regulating illegal smuggling of rare earths, implying that stricter regulations will be adopted for the industry.

China Considers A National Rare Earth Reserve.

2012-06-02T11:07:04-04:00

A succession of six international tin agreements operated from 1956 to 1985. Futures trading in tin continued in London until the buffer stock scheme, without cash or the support of its sponsoring governments, collapsed in October 1985. Here we go again with another attempt to thwart free market price discovery,...

Steenkampskraal Resource fulfills its Promise to Great Western’s Shareholders

2012-06-01T16:42:06-04:00

Great Western’s proposition is that it helps to meet the current demand for the rare earths while also controlling rare earth deposits in more than one continent.

GéoMégA closes private placement including Cree Mineral Exploration Board

2012-06-01T12:52:01-04:00

June 1, 2012 (Source: Marketwire) -- MONTREAL, QUEBEC--(Marketwire - June 1, 2012) - Further to its news release of May 14, 2012, Geomega Resources Inc. ("GeoMegA") (TSX VENTURE:GMA) announces the closing of its non-brokered private placement with the Cree Mineral Exploration Board and an institutional fund consisting of 375,000 units (the "Units") at a subscription price of $0.55 per Unit for gross proceeds of $206,250.

Rare Earth Elements in Medicine

2012-06-01T10:42:29-04:00

I had the good fortune of being invited by the Canadian Institute of Mining and Metallurgy to organize and moderate a Rare earth panel at its annual Conference, this year convened in Edmonton May 6th-9th). The theme of the conference was ‘From Prospect to Product’. The CIM is also committed...

China Considers Rare Earth Reserve to Stabilise Prices - Paper

2012-06-01T10:03:58-04:00

June 1, 2012 (Source: Reuters) -- China is considering a national inventory reserve of rare earths in a bid to stabilise prices for the 17 metals, crucial for the defence, electronics and renewable-energy industries, state-backed China Securities Journal reported on Friday.

China Rare Earths Invoicing System Could Worsen WTO Dispute

2012-06-01T09:57:23-04:00

June 1, 2012 (Source: Commodities-Now) -- The announcement on Friday June 1 that China is now implementing its much delayed special invoicing system for rare earths designed to stamp out rampant smuggling could worsen tensions between China and consuming nations. The new invoicing system is designed to enable the Chinese authorities to more closely monitor the sale and production of rare earths and in theory tightens their grip on the industry. Producers who are not part of the system will not be legally able to sell rare earths.

Great Western Minerals Group Files NI 43-101 Resource Estimate and Technical Report on Steenkampskraal Rare Earth Property

2012-06-01T09:39:56-04:00

June 1, 2012 (Source: Great Western Minerals Group Ltd.) -- Saskatoon, Canada: Great Western Minerals Group Ltd. ("GWMG" or the "Company", TSX:V - GWG) is pleased to announce that it has filed on SEDAR its initial National Instrument 43-101 compliant resource estimate and technical report (the "NI 43-101 Report") for the Company's Steenkampskraal rare earth property in South Africa.

Rare Earth Invoice to Curb Illegal Mining

2012-06-01T09:16:12-04:00

June 1, 2012 (Source: China Daily) -- BEIJING - China is to introduce a specialized value-added tax invoice system for rare earth producers on Friday in an effort to curb rampant illegal mining and production of the metals. The introduction is an important regulatory step, as it will curb illegal mining and excessive production, said Li Shanle, an official with the bureau of industry and information technology in Jiangxi province, one of the country's major rare earth production bases.

IBC Advanced Alloys Corporate Update

2012-05-31T18:22:40-04:00

(TSX-V: IB OTCQX: IAALF) (“IBC” or the “Company”) has released its unaudited third quarter financial statements for the quarter ended March 31, 2012, and provides an update.