Other company newsMatamec Explorations (TSXV:MAT) released an economic benefits study saying that its Kipawa rare earths mine inathe Abitibi-Temiscamingue region of Quebec would create 2,400 jobs during its two years of construction and pump $212 million into the Quebec economy. The 15-year mine would create 408 direct and indirect jobs and spin economic impacts worth $61.9 million annually, according to the report by KPMG-Secor. However the economic benefits of the mine are being compared to its environmental risks. As of last Wednesdayaalmost 2,600 people had signed an online petition opposing the mine, reported Nugget.ca. Concerns center around toxic tailings and waste rock being exposed to the elements, and potential spills into Lake Kipawa. Texas Rare Earth Resources Corp (OTCMKTS:TRER)aannounced that notable rare earth expert Jack Lifton has joined its board of directors. Lifton is a co-founding principal ofaTechnology Metals Research LLCaand a senior fellow of the Institute for the Analysis of Global Security.a"We are honored to have Jack join our board. Now that we have demonstrated we can successfully process the rock at our Round Top Project, our principal objective is to monetize our asset base while informing the investing and mining community of the value we believe our company possesses. We believe Jack's expertise will assist us in reaching these goals," saidaDan Gorski, CEO of Texas Rare Earth Resources. Vancouver-based Medallion Resources Ltd (TSXV:MDL) is making headway on its plan to set up a rare earth extraction plant in Oman. Oman Daily Observer reported that Medallion is planning to commission a monazite-based plant at theaDuqm Special Economic Zone in the first quarter of 2016. The plant would be a joint venture between Medallion, owning 60 percent, and a subsidiary of state-owned Oman Oil Company holding the balance. The plant would be capable of producing a concentrate containing 10,000 tonnes of rare earth oxides annually, according to the publication.
Tasman Metals Ltd. (TSXV:TSM)ahas acquired a 100% interest inaa portfolio of tungsten projects in the Bergslagen mining district of south-central Sweden. The portfolio includes several of the largest known tungsten occurrences in Scandinavia, including the formeraYxsjobergamine which once produced more than 90% of Sweden's tungsten. Tasman is focused on its North Karr heavy rare earth element project in Sweden.Prices update Rare earth oxide prices were mostly flat over the past week. Metal-Pages reported that European cerium oxide prices are unchanged at $6 to $7 a kilogram. "Spot market purchases of cerium oxide appear to have slowed with industry buyers holding out for cheaper material as stocks are abundant and with falls in the US dollar," the publication reported. The price of praseodymium metal in China jumped 24.79 percent to a range of between RMB750,000 and 760,000; Chineseapraseodymium oxide rose marginally, by 0.88 percent. Chinese neodymium metal and oxide prices were both down, a respective 1.10 percent, and 0.57 percent. Samarium oxide in China fell 5.88 percent to a range of between RMB 23,000 and 25,000, reported Metal-Pages. Securities Disclosure: I, Andrew Topf, hold no direct investment interest in any company mentioned in this article.a Frontier Rare Earths Says Improved Flow Sheet Will Command Higher Prices from Rare Earth Investing News