Quantum Rare Earth CEO Terms New Study "A Wake-Up Call"
February 24 2011 - 5:00AM
Marketwired
Peter Dickie, President and CEO of Quantum Rare Earth Developments
Corp. (TSX VENTURE: QRE)(OTCQX: QREDF)(FRANKFURT: BR3) has endorsed
recommendations in a recent report on "energy-critical materials".
Dickie said the report, by the American Physical Society (APS) and
the Materials Research Society (MRS), "is a wake-up call about the
critical need to find, develop, and secure adequate supplies of
rare earth elements."
The report, "Security Materials for Emerging Technologies" was
released at the annual meeting of the American Association for the
Advancement of Science. The report calls for the U.S. government to
gather, analyze, and distribute information on Energy-Critical
Elements, (ECEs) including potential resources, production, trade,
and uses. Energy-Critical Elements (ECEs) have the potential to
transform the capture, transmission, storage or conservation of
energy. In addition to rare earth elements, ECEs potentially
include other applications for electric automobiles, wind turbines
and solar cells.
Senator Mark Udall (D-CO) has introduced S.383, a bill to
promote the domestic production of critical minerals and materials.
The bill also calls on the Department of Energy to help secure a
steady supply of the elements.
"Rare earth elements and niobium are vital to high-tech and
strategic industries," said Mr. Dickie. "Niobium, for which Quantum
is exploring in Nebraska, is used as a steel hardener for
high-strength, low-alloy steel, such as that used in high-pressure
gas pipelines. Other uses for niobium include production of 'super
alloys', used extensively in the aerospace and defense industries.
The U.S. government considers niobium to be a strategic metal."
Recent assay results for niobium from the Elk Creek, Nebraska
project have shown that the high degree of work carried out by
Molycorp years ago still stands today. While still awaiting Rare
Earth results, the results for Niobium are very positive and
indicate potential for a large home-grown resource of this 100%
imported commodity (see Quantum News Release Feb 21, 2011 for
details).
Quantum Rare Earth Developments Corp., based in Vancouver,
British Columbia, is a junior exploration company with a focus on
seeking out potentially economic deposits of Niobium and Rare Earth
Elements (REE) in North America and elsewhere in the world. Current
projects include the Elk Creek, Nebraska Niobium and Rare Earth
property and the Archie Lake, Saskatchewan Rare Earth property.
On Behalf of the Board,
Peter Dickie, President, CEO
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: Quantum Rare Earth Developments Corp. Peter Dickie
President and CEO (604) 669-9330 www.quantumrareearth.com
Niocorp Developments Ltd. (TSXV:QRE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Niocorp Developments Ltd. (TSXV:QRE)
Historical Stock Chart
From Jul 2023 to Jul 2024