“It may be time to re-examine the potential for rare earth elements (REE) in Arizona. The conventional wisdom is that we have only minor amounts in a few pegmatites. But Virginia McLemore from the New Mexico Bureau of Geology and Mineral Resources may have dispelled that as a myth…” Quoted from the Arizona Geology blog.
China currently produces about 90% of the world’s supply of rare earth elements and their tight export rules have made it difficult for companies in other countries to obtain adequate supplies at reasonable prices. Now China says that they plan to cut production by 20%.
“In March, the US, European Union, and Japan formally requested that the World Trade Organization (WTO) launch an investigation into China’s rare earth export policy.” Quoted from the Rare Earth Investing News.
“Canada has 1.1 billion pounds of rare earths locked in black shale deposits (the Alberta Black Shale Project) worth an estimated $206 billion. In addition, several other Canadian mines across the country show great potential.” Quote from the Canadian Chamber of Commerce website.