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Rare Earth Deposit Discovered In US
s31523 writes "With China having 97% of the market share of rare earth elements, many countries are nervous about being able to get supplies of key elements needed for high tech gear. Quantum Rare Earths Developments Corp. has reported they have discovered a potential huge source of rare earth elements, right in the middle of the U.S. While the USGS reports that the U.S. has an estimated 13 million metric tonnes available for mining (about 1/3 of China's reserves), finding another regular source is crucial to global stability. The potential yield of the deposit, found in Nebraska, could be the world's largest source for Niobium and other rare earth elements. Could this be the next gold rush?"
At stewarding its own resources, preferring instead to buy resources from other countries that do not have the level of regulation we have. We have plenty of oil, gas, rate earth metals etc... we just don't go after it.
That sounds like stewarding them well to me. What would be so great about digging up today resources that can be left for tomorrow, given that they can be cost effectively obtained elsewhere for now?
There is a very good reason for this. Rare earths aren't really that rare. What makes them "rare" (or I should say scarce) is how difficult it is to process them into their raw oxide. This is not an easy process. You can't just dig them out of the ground and sell the dirt to a laser making company.
So the next company that will be coming online is the Australian Lynas Corp with their processing plant in Malaysia and the worlds largest single rare earth deposit in Western Australia. The Malaysian processing plant is costing a lot of money to build - not the sort of capital an individual has.
Check this out:
http://www.lynascorp.com/page.asp?category_id=1&page_id=25
That gives you an idea of how rare earths have outpaced gold in the last 2 years.
Next I believe is USA's Molycorp (I may be wrong on that but I think that is right).
Actually, the cost of labor is miniscule next to the costs imposed by liberal tree hugging ecoterrorists that get all pissy when you dump all your toxic mine tailings and acidic processing wastes in the local river rather than burying them back underground where you got them.
If I have been able to see further than others, it is because I bought a pair of binoculars.
You should tell that to these guys http://www.molycorp.com/
They just reopened a rare earth mine in CA. Quick, go tell them they can't do what they've already done! Molycorp developed a way to extract the minerals without the pollution. Pretty smart considering pollution needs to be cleaned up and that clean up costs a ton of money. But don't let long term cost savings get in the way of your hippy hate. And no, I'm not a hippy, but I see the value in reducing costs by eliminating or reducing clean up. China will one day have to clean up the waste and it's going to cost a pretty penny. They love it now, but that debt will come due. Molycorp following EPA guidelines should reduce the total tally we owe.
A couple of years ago I would have smirked at that. Now I humbly ask you for confirmation that this actually was sarcasm as I hope, as too many retards run around truly believing not being able to dump your shit into the local river is GUBBERMINT OPPRESSION....
Ubi solitudinem faciunt, pacem appellant.