canada could become a key supplier of rare earth metals for high-tech devices
Hey, time traveler! This article is published at 23/10/2010 (3199 days ago) Therefore, the information in it may no longer be up to date. MONTREAL - Flat-screen TVs, laptops, and Apple\'s iPhones all use rare earth metals, which are critical to tech devices but are controlled and produced mainly in China. This is a market in which many Canadian companies are trying to enter their mining properties in order to compete with China and potentially deprive it of market dominance. Peter Cashin, President and CEO of Quest Rare Minerals, said: \"The market is now catching up with the understanding of the absolute importance of these metals . \"(TSXV:QRM). In addition to TVs, computers and mobile phones, rare earth metals are also used for wind turbines, iPod earplugs, motors and batteries for hybrid cars, etc. Smart bombs and other defense applications. China controls about rare earth metal production and cuts exports to meet domestic demand and reduce pollution. Due to the dispute with China, Japan has squeezed the supply of these metals and said on Friday that it plans to mine them in Vietnam to reduce its dependence on economic powers. Cashin said he expects Quest Strange Lake properties in northeastern Quebec near the Labrador border to be put into production by 2014 or 2015. He is also interested in finding a partner to refine the metal. He said that there are enough light and heavy rare earths in Quebec real estate, with an estimated production time from 65 to 100. \"This is a good illustration of the security of supply, which has worried the US and other Western governments about their ability to acquire these important rare earths,\" he said . \". Although they are known as rare earth metals, which may have been considered rare at the end of the 18 th century, they are not in fact rare or short. They are made up of 17 similar metal elements whose names are not common in everyday vocabulary such as ce, tb, dy, and nd. So- Rare earth metals, known as \"heavy\", are particularly popular because they are critical to the production of magnets in wind turbines, computer hard drives, and motors, and can withstand very high temperatures. China has cut production because they have to meet their domestic needs and they are worried that the metal will run out, said analyst Jack Lifton. Livton said Canadian companies may be closest to producing alternative supplies of \"heavy\" rare earth metals, citing Saskatchewan- Headquartered in Daxi Mining Group Co. , Ltd. (TSXV:GWG)as an example. \"The world is waiting for a Canadian company to start producing heavy rare earths,\" said livton, the founding head of Technology Metals Research in Detroit. \"Heavy rare earths are critical to the production of modern magnets that can work at high temperatures. \"The Great West has a mine in South Africa and is expected to be put into operation in 2013,\" said President and CEO James Endale. He added that it is also planned to build a separation facility for these metals. \"When we were in production, we saw our growth of 2013,\" Endal said . \" He added that the company may make one or two acquisitions. \"We believe that the potential of producing 10,000 tons per year in South Africa is very realistic . \" Endal said the mine will be able to produce The demand for \"heavy\" rare earth metals. Great Western companies that also process metals have been buying metals from China for 18 years. But Endale says the company also processes rare earth metals in the UK and Michigan. \"We are the only country that produces alloys outside Asia,\" he said . \" Livton says he also likes Avalon Rare Metals (TSX:AVL) But he said it would be an economic challenge for Toronto. A company based in the northwest region that will extract heavy metals from underground due to infrastructure costs. \"If they can do that, Avalon will be the world\'s largest supplier of rare earths, and the Chinese will buy rare earths from them, and everyone will be happy. The rare earth metal has changed people\'s daily lives and made the equipment \"smaller\", Endal said \". \"If you go back to 60, you have a big black man --and- White TV, the world will be like this without rare earth magnets.