Latest news with #rareearths
Bloomberg
2 hours ago
- Business
- Bloomberg
AmCham President Says China Isn't Blocking Rare Earths Exports
China has been slowly loosening the grip on its exports of rare earths over the past week, according to a lobby group for American businesses, after top US officials complained it hadn't been removing barriers as promised. 'We are seeing some approvals come through — certainly slower than industry would like,' said Michael Hart, president of the American Chamber of Commerce in China. 'Some of the delay is related to China working through their new system to approve exports, not that they are not allowing exports.'
News.com.au
8 hours ago
- Business
- News.com.au
Kristie Batten: Locksley locks in market support for Mojave
One of Australia's top mining journalists, Kristie Batten writes for Stockhead every week in her regular column placing a watchful eye on the movers and shakers of the small cap resources scene. May was a transformational month for Locksley Resources (ASX:LKY), thanks to its Mojave rare earth and antimony project in California. Locksley has held the Mojave project for several years but due to a lack of interest in rare earths and lengthy wait times for drill permitting, the company has more recently been focused on the Tottenham copper project in New South Wales. However, Donald Trump's return to the White House changed things for the company with momentum accelerating in the past few weeks. Geologist Allister Caird joined the company three weeks ago as head of critical minerals. Caird told Stockhead Trump's March 20 executive order, aimed at increasing US minerals production, had been a game-changer for the company. 'What we were thinking, where it was initially going to take two years to get a drilling permit, has now been turned around in a matter of weeks,' he said. 'We're awaiting a drilling permit from the Bureau of Land Management, basically at any moment now. 'We've had this project that's got some pretty compelling grades, but not everything has fallen into place until right now, and it's all happened very quickly, so it's a pretty exciting time for the company.' The Mojave project is just 1.4km from MP Materials' Mountain Pass mine, the only producing rare earth mine in the US. The project's North Block hosts the historical Desert antimony mine, which was only in production for about three years almost a century ago. Surface sampling has returned grades of up to 46% antimony and 1022 grams per tonne silver. Eight surface samples returned over 17% antimony and a further 18 graded over 1.4% antimony. Surface mineralisation has been traced over 400m to date. 'There aren't a heap of drill holes on our claim, so even though we know we've got commercial grades, I guess we don't fully understand the size of the resource, so there is a bit of runway to figure that out,' Caird said. At the El Campo prospect to the south, which is surrounded by, and directly along strike from Mountain Pass, five initial rock chip samples have returned total rare earth oxide results of 3.74-9.49%, including up to 3.19% neodymium-praseodymium, over a 6m mineralised zone. Follow-up work returned 12 rock chip samples grading 1.03-12.1% TREO. Drill baby drill Locksley's field team is planning to mobilise to site this month ahead of reverse circulation drilling, planned for the September quarter. The company is planning to drill six holes at El Campo and three holes at Desert, around the historical mine. 'Whilst the program is quite focused and targeted at the moment, we can really expand it out to other parts of the claim that haven't been explored yet,' Caird said. Caird said the company had been encouraged by Trump's 'drill baby drill' comment and was hopeful the US would maintain the positive permitting momentum. 'We've already got the second phase of drill holes planned, so it's not like we're going to be caught flat-footed,' he said. 'We will already be putting in these permits for the second phase of drilling immediately, so there shouldn't be any large delays there, and especially given we've already got some environmental impact assessment permits granted, so I don't think there's a whole heap of risk there from a permitting standpoint.' Investors catching on Locksley is fully funded for the upcoming exploration program after raising $1.47 million at 4c per share last week. The stock closed at 8c on Friday, double the raising price and taking May gains to 300%. Even still, the company is only capped at $11.7 million. 'I think even though we have had quite a share price run and some good support with the capital raise there, I still think we're probably a little bit undervalued,' Caird said. Locksley's Mojave is only 7.7km from Dateline Resources' Colosseum project, which Trump described on social media as 'America's second rare earths mine'. Dateline shares surged by 870% in May, giving the company a market cap of more than $270 million. Another US antimony hopeful, Trigg Minerals, also had a productive month in May and is now worth $73.6 million. 'We're all chasing a similar resource, but comparatively, I think we're still quite good value compared to those other companies at this stage,' Caird said.
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
Kelantan govt seals rare earths pact with Lynas
Lynas Rare Earths CEO and managing director Amanda Lacaze said Malaysia is already recognised as a rare earths centre of excellence through Lynas's operations. (AP pic) PETALING JAYA : The Kelantan government's investment arm has struck an agreement with Australia's Lynas Rare Earths Ltd to develop the state's rare earth resources that are essential for high-tech industries. The Australian mining company said today it has signed a memorandum of understanding with the state's Menteri Besar Inc (MB Inc) that provides a framework to negotiate a deal for the future supply of mixed rare-earths carbonate feedstock to Lynas. Under the non-binding agreement, the parties will cooperate on the growth of the rare earths industry in Kelantan and work towards developing Malaysia's locally sourced and separated rare earth products. 'Malaysia's ionic clay deposits have excellent potential as future feedstock for Lynas Malaysia, particularly given their high proportion of heavy rare earths which are in demand for future facing technologies including electric vehicles and electronics,' Lynas CEO Amanda Lacaze said in a statement. She said this initiative brings together Lynas Malaysia's expertise on the rare earths industry spanning more than a decade and Kelantan's rare earth resources. 'We look forward to working with MB Inc to ensure the (rare earths) it produces meets the high environmental and technical standards required by Lynas and our customers in Malaysia as well as global manufacturing supply chains,' she added. Lynas has been operating a processing plant on the outskirts of Kuantan, Pahang, since 2012. The miner currently sources all of its rare earths from the Mt Weld mine in Western Australia. The Kelantan land and minerals office previously stated that rare earth elements have been found in large quantities in Jeli and Gua Musang. Last December, the department said it deployed drones to monitor remote locations identified as having rare earth elements to prevent illegal mining activities. News reports then indicated police had arrested 55 individuals after uncovering an illegal rare earth mining operation in Gua Musang. Meanwhile, the federal government is encouraging state administrations to allow rare earth mining. Outgoing natural resources and environmental sustainability minister Nik Nazmi Nik Ahmad was reported to have said Malaysia aims to position itself as a regional hub for rare earth mining and processing. 'Lynas's plant in Malaysia is the first plant outside China that can process heavy rare earth elements,' he said during a visit to the Lynas plant earlier this month. He added this achievement increased the nation's competitiveness in the rare earth elements market. Rare earths and geopolitics Geopolitical tension is fuelling interest in finding new sources of rare earths supply. After the US slapped ultra-high reciprocal tariffs on China last month, the Asian giant retaliated by tightening restrictions on the export of rare-earth materials, targeting US manufacturers, including Tesla. With the Trump administration now having a truce with China over its tariffs, exports of rare earths restarted this month for some companies. China remains in the driving seat as it currently refines almost all of the world's heavy rare earth elements, including dysprosium and terbium. Lynas has been seeking to break that stranglehold, and recently began commissioning a new separation circuit that will make it the only commercial producer of separated heavy rare earth products outside of China. Ironically, the opposition-controlled state of Kelantan may turn out to be a starting point in helping the US and its allies break China's virtual monopoly in rare earth elements.
Reuters
3 days ago
- Business
- Reuters
China signals softer stance on rare earth export curbs
BEIJING, May 30 (Reuters) - China said it would cooperate further with other countries over its rare earth export controls as shortages put auto and semiconductor makers in Europe and India at risk of closure. China, which controls over 90% of global processing capacity for the rare earth magnets used in everything from automobiles and fighter jets to home appliances, imposed restrictions in early April requiring exporters to obtain licences from Beijing. While a handful of licences have been granted, including to some Volkswagen suppliers, Indian automakers say they have received none and will have to stop production in early June. "We stand ready to strengthen dialogue and cooperation in the field of export control with relevant countries and regions and stay committed to maintaining the stability of global production and supply chains," foreign ministry spokesperson Lin Jian said on Friday when asked about the controls. Chinese state media reported on Wednesday that the country could relax its curbs on rare earths exports for Chinese and European semiconductor firms after meetings between industry and the Ministry of Commerce where the issue of shortages was raised. The New York Times reported earlier this week that the United States suspended some sales of critical technologies to China, including parts for state-owned plane maker COMAC, in response to China's restriction on exports of critical minerals.
Malay Mail
3 days ago
- Business
- Malay Mail
Lynas, Kelantan join forces to tap local rare earths for Kuantan plant
KUANTAN, May 30 — Lynas Rare Earths Ltd and the Kelantan state government's investment arm, Menteri Besar Incorporated (MB Inc), have signed a memorandum of understanding (MoU) for the supply of mixed rare earths carbonate (MREC). In a statement today, Lynas said the MoU is non-binding and remains subject to the negotiation and finalisation of definitive agreements. It said the memorandum outlines a framework for both parties to strengthen, promote and develop cooperation to advance the Malaysian rare earths industry in Kelantan. 'It also provides a basis for MB Inc and Lynas to negotiate a definitive agreement for the supply of MREC feedstock to the Lynas Malaysia Advanced Materials Plant in Kuantan once the project commences production,' it added. Lynas Rare Earths chief executive officer and managing director Amanda Lacaze said Malaysia is already recognised as a rare earths centre of excellence through Lynas' operations, and the MoU marks a significant step towards developing locally sourced and separated rare earth products. 'Lynas is delighted to sign this MoU with the Kelantan state government's MB Inc. This is a significant step for Lynas and the Malaysian rare earths industry, bringing together Lynas Malaysia's over a decade of rare earths industry expertise and Kelantan state's rare earth resources,' she said. Lacaze noted that Malaysia's ionic clay deposits have strong potential as future feedstock for Lynas Malaysia, particularly due to the high concentration of heavy rare earths, which are in demand for advanced technologies such as electric vehicles and electronics. 'We look forward to working closely with MB Inc to ensure that the MREC produced meets the high environmental and technical standards required by Lynas and our customers across Malaysian and global manufacturing supply chains,' she added. — Bernama
