Rare Earth News
New mining projects aim to ease rare earth concerns
As the demand for rare earth elements (REE) increases and China, the world's number one supplier of the raw materials, continues to cut its export numbers, deposits around the world are being tapped into in order to ease concerns of an international shortage, according to Reuters.
Francois Bersani, secretary general of the Strategic Metals Committee in France, said that many countries are looking to diversify the supply of metals, as many importers are becoming frustrated with China's monopoly on the precious elements, the media outlet reports.
New projects in Australia, Europe and Canada are appearing and could become the next great players in REE extraction.
Sub-sea explorations conducted by France and Japan have exposed many deposits of REE off the coasts of the countries that could also be tapped and exported.
According to the Winnipeg Free Press, Quebec is also vying for a place in the rare earth market, as province Premier Jean Charest has had several discussions with Japanese officials about potential projects in the area.
With demand expected to soar in the near future, Quebec is well-positioned to become a leader in the REE mining sector.