Rare Earth News

Significant rare earth metals discovery made in northern Canada

One of the largest deposits of the rare earth neodymium in the world has reportedly been discovered at a Montviel property near the town of Lebel sur Quevillon, which is approximately 500 kilometers northwest of Quebec City, according to the Montreal Gazette.

The news source reports that rare earth elements such as neodymium are currently a hot commodity due to the fact that they are utilized in electronics and technological devices such as superconductors, electric vehicles and wind turbines.

The discovery perhaps indicates the continued strength of the rare earth mining sector in Quebec, as a previous CBC News article suggested that the province has more than 40 rare earth exploration projects in the works.

As such, investing in Quebec rare earth metals stocks is likely a prudent move, with a number of rare earth mining companies in the early stages of developing untapped deposits in the province.

According to the town's website, the small community of Lebel sur Quevillon was settled in the 1960s and boasts a population of less than 3,000.