December 26, 2010

Molycorp Minerals announced that it has resumed mining operations at Mountain Pass, California. The following is an image of the first blast that occurred 3 days ago.

December 24, 2010

A new rare earth bill has been introduced into the Senate at the very end of the 111th Congress. Bill S.4031 , introduced by retiring Senators Bayh and Bond, is also called the ‘Rare Earths Supply-Chain Technology and Resources Transformation Act of 2010’ or the ‘RESTART Act’, a name identical to the bill introduced into the House and Senate earlier this year by Representative Mike Coffman and Senator Lisa Murkowski.

The bills are very similar, but the new Bayh-Bond RESTART Act has two major differences. First is the requirement for the Department of Energy to institute a Rare Earth Materials Program “to ensure the long-term, secure, and sustainable supply of rare earth materials in quantities that are sufficient to satisfy the national security, economic well-being, and industrial production needs of the United States.”

The Program would include activities:

December 26, 2010

A report has been released by the Senior Expert Group Meeting on Sustainable Development of Lithium Resources in Latin America on emerging issues and opportunities. A meeting in Santiago, Chile was organized by the UN Department of Economic and Socail Affairs and the UN Economic COmmission for Latin America and the Caribbean on November 10-11, 2010. The meeting was financially and technically supported by the government of South Korea.

With 55 attendees and 21 presentations, the meeting dealt with such issues and supply and demand for lithium, country reports, issues of sustainability and proposals for enhancing cooperation in lithium resource development.

Among the general conclusions and recommendations were:

December 16, 2010

The New York Time and Business Week report that China will be increasing the taxes on exports of rare earths next year. This comes after increasing restrictions on rare earths. Earlier this year, Yao Jian from China's Commerce Ministry said, "To protect the environment and natural resources, China will stick to the quota system to manage rare earth exports next year, and quotas will also decline." Yao recently said that the quotas have not yet been finalized.

With outstanding geopolitical issues like currency valuation, territorial disputes over the East and South China seas, human rights and more, China has been shown willing to use it's market power to pressure international governments.

According to official Xinhua news, From Jan. 1, 2011, China will adjust tariff rates on certain exports and imports and the changes have been approved by the State Council, or the Cabinet. The statement on the Ministry of Finance's website, however, did not specify what types of rare earth products would be included in the readjustment.

Meanwhile, Chinese Vice Premier Wang Qishan is co-chairing a meeting with US Commerce Secretary Gary Locke and Trade Representative Ron Kirk in the US to kick off annual trade negotiations.