Rare Earth Market Remains a Volatile Guessing Game
February 11 2011 - 10:25AM
Marketwired
Wall Street has been buzzing in recent months over the 17 so-called
"rare earth elements." The metals, which are the life blood of
modern computers, batteries and alternative energies, saw their
prices surge on average more than 120 percent in 2010 as global
economic demand grew. Recent measures by the Chinese government
could send prices of rare earths even higher this year, and while
China is currently dominating the rare-earth race, mining companies
worldwide have stepped up efforts to extract the minerals. The
Bedford Report examines the Rare Earth Elements Industry and
provides research reports on Rare Element Resources, Inc. (NYSE
Amex: REE) and Qiao Xing Universal Resources, Inc. (NASDAQ: XING).
Access to the full company reports can be found at:
www.bedfordreport.com/2011-02-REE
www.bedfordreport.com/2011-02-XING
China presently produces about 95 percent of the global supply
of rare earth minerals, but said it would cut its export quotas by
35 percent year-on-year for the first half of 2011. China's Foreign
Ministry spokesperson, Jiang Yu, argues that "Other countries with
rare earth resources should also develop and exploit their
resources and jointly shoulder the responsibility for rare earth
supply."
While the US is making efforts, it is very late to the party. In
fact, most mines outside of China are far away from production.
Additionally, there are no separation facilities for the
all-important "heavy" rare earths outside of China. For this reason
many naysayers refer to the boom in North American Rare Earth
stocks as a speculative bubble.
The Bedford Report releases regular market updates on the
industrial metals sector 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.bedfordreport.com and get exclusive access to our numerous
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A recent report from The Wall Street Journal suggests China is
building up strategic reserves of rare earth metals in a move that
could give it better control over the resource so indispensable to
high tech products. According the report the effort "could give
Beijing increased power to influence global prices and supplies in
a sector it already dominates."
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