Rare Earths Industry on the Upswing as China Cuts Rare Earths Mining Permits by 50 Percent
23.07.2012 | Marketwire
Five Star Equities Provides Stock Research on Rare Element Resources and Great Western MineralsNEW YORK, NY -- (Marketwire) -- 07/23/12 -- After a strong start to the year, Rare Earth stocks have struggled in the second quarter. The Market Vectors Rare Earth/Strategic Metals ETF (REMX) has fallen 20 percent over the last three months. Things may be turning around for the industry as a recent article from Reuters suggests that China may become an importer of rare earth by 2014. Five Star Equities examines the outlook for companies in the Rare Earths Industry and provides equity research on Rare Element Resources Ltd. (NYSE: REE) and Great Western Minerals Group Ltd. (TSX VENTURE: GWG.V) (PINKSHEETS: GWMGF).
Access to the full company reports can be found at:
www.FiveStarEquities.com/REE
www.FiveStarEquities.com/GWG
"By 2014 or 2015, China will probably be in a net import situation for certain rare earths," said Mark Smith, chief executive of Molycorp. "When the demand is there, that's where the supply has to go. Over 80 percent of the magnets produced in the world come from China and that is growing just tremendously every year," Smith said in a recent interview with Reuters.
A recent article in the China Daily stated that China cut the number of rare earth mining permits by 50 percent to 65 nationwide.
Five Star Equities releases regular market updates on the Rare Earths Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
Rare Element Resources is a publicly traded mineral resource company focused on exploration and development of rare-earth elements and gold. In addition to the REE exploration and evaluation efforts, the company controls the Sundance gold project, which is located on the same property in Wyoming. The company recently announced that the 2012 drilling and exploration program has commenced at the Bear Lodge rare earth element project in Wyoming.
Great Western Minerals Group is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries. The company recently provided an update on the latest phase of its drill program at the Steenkampskraal rare earth property in South Africa.
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