Rare Earth News

Rare earths drop in price

Rare earth element prices declined on Wednesday, September 21, as speculators began large selling sprees, Michael Gambardella, an analyst in New York with JP Morgan said in a recent report. The document downgraded one of the world's largest rare earth producers outside of China to "neutral" from "overweight," Reuters reports.

Cerium oxide fell 30 percent since its last peak in June, while lanthanum oxide and neodymium oxide prices fell also, according to the news source.

Reuters reports that the price of most other rare earth elements remained steady in China, which produces more than 95 percent of the world's rare earths.

Because of the widespread use of the elements, many mining operations have begun around the world to tap into the growing market.

According to Rare Metal, the British Columbia Ministry of Energy, Mines and Petroleum Resources has received requests from many companies for permits to access the region's vast supply of rare earths. Some of the most abundant rare earths found in the area include cerium and niobium, which studies have found to be as high as 631 and 337 parts per million, respectively.