CDI: Cobalt sliding into oversupply
The following was released by Cobalt News, which is published by the Cobalt Development Institute. For more information visit www.thecdi.com.
Industrial/Specialty Minerals
Woulfe Mining works towards decision at Sangdong
At its height, the Sangdong mine in South Korea was one of the largest tungsten-molybdenum mines in the world. But after a forty-year run, the mine was shut down in 1993 when the price of ammonium paratungstate (APT) fell to US$40 per metric…
Resource Capital rides commodities bull market
You could say Ross Bhappu has the cactus ferruginous pygmy owl to thank for Resource Capital Fund’s foray into rare earths and its wildly successful investment in Molycorp (MCP-N).
Molycorp acquires REE processor in Estonia
Molycorp (MCP-N) has bought one of only two rare-earth processing facilities in Europe.
Pacific Wildcat confirms rare earths in Kenya (April 18, 2011)
A first round of drill results from the Mrima Hill rare earth-niobium project in southeastern Kenya has given Pacific Wildcat Resources’ (PAW-V) share price a major boost.
Mercator to buy Creston Moly for $195 million
Vancouver – Mercator Minerals (ML-T) has entered an agreement to buy Creston Moly (CMS-V) in a friendly merger with significant potential for synergies that values Creston at $195 million.
Western Copper releases updated Casino study
Vancouver – Western Copper (WRN-T, WRN-X) has released an updated prefeasibility study for its sizable but remote polymetallic Casino project in the Yukon, three years and a commodity-price rollercoaster after the first.
Industry group worries about rare earth supply
How fast Chinese exports of rare earths get to zero is the $64,000 question, Keith Delaney, executive director of the Rare Earth Industry and Technology Association told participants on a private conference call on Mar. 31.
Reunion gets the cash to press ahead at Matthews Ridge
Some big resource investment houses have signaled their faith in Reunion Gold’s (RGD-V) Matthews Ridge manganese project in Guyana, and market participants took their cue. A syndicate of underwriters led by BMO Capital Markets and Dundee…
Pacific Wildcat confirms rare earths in Kenya (March 30, 2011)
Vancouver – A first round of drill results from the Mrima Hill project in southeastern Kenya has given Pacific Wildcat Resources’ (PAW-V) share price a major boost.
Ethiopian Potash upbeat about the Danakil Depression
Despite lingering concerns in North America and Europe over a slower-than-expected economic recovery, there appears to be little worry left in Ethiopia’s potash-rich Danakil Depression.
China imposes tax on rare earth production from April 1
China’s Ministry of Finance and State Administration for Taxation will start levying a tax on rare earth elements mined in the country beginning on April 1.