Rare Earth News

Large rare earth element deposit discovered in Kenya

Potential pockets of niobium and other high-demand rare earth elements (REEs) were recently discovered in Kenya, near the port city of Mombasa, the Nairobi Star reports.

According to the news source, significant mineralization sites were found that could potentially yield high amounts of the precious minerals.

Niobium is in increasingly high demand for its properties that, when mixed with steel, create a strong alloy metal that is often seen in water and sewage system pipes, as well as various automobile components. The element is also used in welding rods and other stainless steel products essential to home building, and is even used in the production of optical lenses, the media outlet stated.

Due to China's export restrictions on rare earths, several countries have begun new rare earth mining operations or found new sources from which to import REEs, according to a release from the International Center for Trade and Sustainable Development.

Economies from around the world are set to convene in Washington D.C. in early October, where the EU, U.S. and Japan will discuss increasing imports from Canada, which is also heavily involved in the rare earth market with newly discovered deposits in Quebec and British Columbia.