Rare Earth Prices Unlikely To Replicate 2003 Decline
Sources confirmed that 99-percent praseodymium-neodymium oxide is being offered at $48,123 to $49,728 per tonne, while lanthanum market prices are unchanged from last week, with 99-percent lanthanum oxide trading at $7,218 per tonne.
Although some sources suggest that the European yttrium oxide market is recovering, the market in China remained stagnant this week, with almost no business reported amidst unchanged prices. Market sources have pointed out that most suppliers are holding offer prices firm and have suspended production for the New Year break.
Current prices for 99-percent dysprosium oxide are stable at $320 per kilogram, while the europium oxide market remains subdued with unchanged prices. 99.9-percent europium oxide is currently priced at $802 per kilogram, while almost no business for terbium oxide has been undertaken in China in recent weeks. Lanthanum market prices remain unchanged from last week, with 99-percent lanthanum oxide trading at $7,218 per tonne.
Company newsQuest Rare Minerals (TSX:QRM,AMEX:QRM) provided an update on the preparation of a prefeasibility study (PFS) for the B-Zone deposit at its heavy rare earth element (HREE) project in Quebec. The company's press release states that the development work that has been completed underlines that Strange Lake is a “very large rare earth project with one of the highest concentrations of heavy rare earth elements as well as important by-products zirconium and niobium." The current project configuration calls for a conventional open pit and the typical associated mine infrastructure, including camps, maintenance shops, utilities and processing facilities. Quest expects to deliver the PFS for the Strange Lake project within six months. Focus Graphite (OTCQX:FCSMF,TSXV:FMS) and its partner SOQUEM released an update on the 2012 exploration program at their Kwyjibo polymetallic iron-REE-copper-gold property in Quebec. The program was comprised of surface showing and trench resampling, core drilling and ground geophysical surveying. The press release notes that the new 2012 analytical results "highlight the increasing total rare earth content of the mineralization related to the assaying of heavy rare earth elements in comparison to the 1995 analytical results."
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