|Great Article on the shortage of Niobium in the US and around the World!!!!!!!!!!!!|
B: Quantum CEO Renews Calls for U.S. Rare Earths Stockpile; Trade Actions Unders
VANCOUVER, BRITISH COLUMBIA, Mar 13, 2012 (MARKETWIRE via COMTEX) --
While applauding President Obama's announcement that the U.S. is
launching a trade action against China on access to rare earth
materials, Quantum Rare Earth Developments Corp. (TSX VENTURE:
QRE)(OTCQX: QREDF)(FRANKFURT: BR3) ( www.QuantumRareEarth.com) CEO
Peter Dickie said a long-term, strategic plan must be developed to
ensure supplies of all vital strategic materials.
"The U.S. action and similar moves by the European Union and Japan
are only first steps in a lengthy World Trade Organization process,"
Dickie said. "Rather than wait for an international bureaucracy,
strategic action is needed now by the U.S. to develop domestic
stockpiles of rare earths and other vital materials, just as China is
reportedly doing to ensure its own economic stability."
While China has been curtailing exports of rare earth elements, they
have recently discussed creating large stockpiles of niobium, and
Chinese companies have made investments in the largest niobium
producer company in Brazil.
Among the top six items on the Materials Risk List 2011 by the
British Geological Survey, equally ranked are rare earth elements,
and the strategic metal niobium. Quantum's Elk Creek, Nebraska
project is host to what the U.S. Geological Survey has repeatedly
referred to as "potentially one the largest sources of rare earth
elements and niobium", and is the only known primary niobium deposit
under development in the U.S.
Currently, worldwide production of niobium is limited to three
producers requiring the U.S. to import 100% of its needed supply.
Niobium is primarily used to produce high strength, low alloy steel,
but also has irreplaceable uses, including high-strength alloys in
fighter planes, to create the steel needed for natural gas pipelines,
and in the magnets needed for MRI machines.
Quantum's Elk Creek site includes an inferred resource of 80 million
tons of 0.62% niobium which equates to approximately 500 million
kilograms of niobium. Recent pricing for ferro-niobium is in the
range of US$43 per kilogram, slightly below the 2011 peak of US$46 a
kilogram. Overall, the world market has been growing in excess of 10%
per year for the past decade.
Cautionary note: This news release contains forward looking
statements. These statements include, but are not limited to,
statements with respect to the completion of an updated resource
estimate, the commencement of a preliminary economic assessment study
and management's expectation that the results of these studies will
confirm the potential of the Elk Creek Project. Specifically, any
statements regarding the potential increase of the Company's inferred
resource at the Elk Creek Project and the goals and objectives of the
Company are by their nature forward looking information. Resource
estimates, unless specifically noted, are considered speculative. The
Company has filed a National Instrument 43-101 report on the Elk
Creek Project. Any and all other resource or reserve estimates are
historical in nature, and should not be relied upon. By their nature,
forward looking statements involve known and unknown risks and
uncertainties because they relate to events and depend on factors
that will or may occur in the future. Actual results may vary
depending upon exploration activities, industry production, commodity
demand and pricing, currency exchange rates, and, but not limited to,
general economic factors. Other factors may cause the Company's
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the statements.
Specific risk factors include risks associated with the ability
obtain any necessary approvals, waivers, consents and other
requirements necessary or desirable to permit or facilitate the
development of the Company's properties, risks associated with
project development; the need for additional financing; operational
risks associated with exploration activities and results, mining and
mineral processing; environmental liability claims and insurance;
reliance on key personnel; tax consequences; and other risks and
The business of exploring for minerals involves a high degree of
Cautionary Note to US investors: The U.S. Securities and Exchange
Commission specifically prohibits the use of certain terms, such as
"reserves" unless such figures are based upon actual production or
formation tests and can be shown to be economically and legally
producible under existing economic and operating conditions.
"Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."
Quantum Rare Earth Developments Corp.
(604) 688-4215 (FAX)
SOURCE: Quantum Rare Earth Developments Corp.
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