TMR produces independent market intelligence and analysis on the rare earths, graphite and other critical and strategic materials. We provide research management, due-diligence and advisory services to public and private companies, institutional investors, government agencies and other market-intelligence firms. We focus on the challenges and opportunities associated with these materials.

I recently updated the TMR Advanced Rare-Earth Projects Index, to reflect project updates since the last edition. The effective date of the latest edition is December 5, 2014. The specifics:

  • On October 10, 2014, Rare Element Resources Ltd. (TSX:RES, MKT:REE) shared details of the NI 43-101-compliant mineral-resource estimate for the Bear Lodge project in the USA, which was initially announced earlier in the year, in an updated pre-feasibility study for the project. According to the associated technical report, 2.7 Mt of the resource is at the Measured level @ 3.81% TREO, 13.5 Mt is at the Indicated level @ 2.93% TREO, and 41.7 Mt is at the Inferred level @ 2.53% TREO, each at a cut-off grade of 1.5 wt% TREO;
  • On November 10, 2014, Hastings Rare Metals Ltd. (ASX:HAS) announced an updated JORC-compliant mineral-resource estimate for the Yangibana project in Australia, a joint venture with Rare Earth Minerals PLC (AIM:REM). According to the associated news release, 4.0 Mt of the resource is at the Indicated level @ 1.59% TREO, and 2.8 Mt is at the Inferred level @ 1.43% TREO, each at a cut-off grade of 0.5 wt% TREO; and
  • In the same news release, Hastings Rare Metals Ltd. (ASX:HAS) indicated that the Hastings project in Australia is now known as the Brockmans project.

The Index currently consists of 58 rare-earth mineral resources, associated with 53 advanced rare-earth projects and 49 companies, located in 34 regions within 16 countries.

I have also updated the pricing used in the Index data, to reflect the average monthly prices for November 2014, as reported by Metal Pages. You can access the updated details via the Index page.

One final note - the easy-to-remember shortcut for accessing the Index is www.RareEarths.org.

Disclosure: at the time of writing, Gareth Hatch holds no shares or stock options in any of the companies mentioned in this article, or in any publicly traded rare-earth company, nor is he doing paid consulting for any such company.

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It's no secret that there is a surplus of cerium (Ce) supply within the rare-earth-element (REE) market. More recently I've been hearing folks grumbling that we will soon be awash with yttrium (Y) too, with more than one junior-mining executive referring to Y as "the Ce of the heavy REE world"…

While I do not agree with this sentiment when it comes to future Y supply, I am always interested to learn about potential new applications for this element, given the greater potential for availability in coming years. So when Ryan Castilloux, author of the recent Adamas Intelligence report "Rare Earth Market Outlook: Supply, Demand and Pricing from 2014-2020" told me about an emerging application that could dramatically increase demand for Y, I was intrigued. When he started talking about another application that could also significantly increase demand for Ce as well, I naturally started to pay close attention.

As part of his recent 12-month study of the rare-earth sector, Ryan uncovered these and numerous other potential new uses for REEs that could significantly impact demand before 2020. Not all of them have the same chances of penetrating the market, and the actual impact on demand will vary, but being aware of these new uses is vital to understanding the medium- and long-term prospects for the sector.

Following our recent discussion on his new report, I got together with Ryan again recently and persuaded him to discuss some of these emerging end uses in more detail. We put together a 40-minute video of the discussion, which I think you'll find to be very interesting.
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What Does the Future Hold for Rare-Earth Supply, Demand and Pricing?

by Gareth Hatch November 28, 2014

You hardly need me to point out that the rare-earth junior mining sector is in a challenging place right now. The current state of rare-earth prices and their impact on the market cap of pretty much every company in the sector, has everyone concerned.

Are things going to get better? Are future rare-earth prices going to reach the numbers predicted in recent scoping and pre-feasibility studies? What will be the effects of the ongoing crackdown on illegal mining in China? What will the demand profile for individual rare earths really be, in the not-too-distant future?

These questions and more like them, were the basis of a 12-month-long ‘deep-dive’ study of the rare-earth sector by Adamas Intelligence. Adamas recently concluded that study and has published its findings in a 573-page report, titled “Rare Earth Market Outlook: Supply, Demand and Pricing from 2014-2020“.

I recently got together with Ryan Castilloux, founder of Adamas and the lead author on the report (which also looks at the period 2008-2013), to discuss some of its major findings.

We put together a 30-minute video of the discussion, which gets into the structure and content of the report, as well as featuring key data and charts to describe top-level data.

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September 2014 Updates To The TMR Advanced Graphite Projects Index

by Gareth Hatch October 6, 2014

I recently updated the TMR Advanced Graphite Projects Index, to reflect one new and two updated mineral-resource estimates, announced since the last update. The effective date of the updates is October 5, 2014. The specifics: On July 24, 2012, Castle Minerals Limited (ASX.CDT) announced a maiden JORC-compliant resource estimate for its Kambala graphite project in […]

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September 2014 Updates To The TMR Advanced Rare-Earth Projects Index

by Gareth Hatch October 5, 2014

I recently updated the TMR Advanced Rare-Earth Projects Index, to reflect a project update since the last edition. The effective date of the latest edition is October 4, 2014. The specifics: On September 22, 2014, Matamec Explorations Inc. (TSX.V:MAT) announced that it has regained a 100% interest in the Kipawa deposit in Canada. According to […]

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A Visit To The Canada Carbon Miller Project

by Gareth Hatch August 30, 2014

Last month I paid a visit to the Miller graphite project in Canada, under development by Canada Carbon Inc. (TSX.V:CCB) in Grenville Township, Quebec. The Miller property was the home of a historical graphite mine in the latter half of the 19th century.

Grenville is situated 50 miles west of Montreal, approximately half way between that city and Ottawa. The journey from Montreal took about 75 minutes via Highway 50. Grenville is close to the town of Hawkesbury in Ontario, with the two sitting on opposite sides of the Ottawa River, which forms much of the boundary between the two provinces.

Generally I don’t visit a mineral project under development, until it has an associated mineral resource estimate that conforms to guidelines such as NI 43-101 or the JORC code. It’s the same criterion that I use for including projects on the TMR indices for rare earths and for graphite. A mineral resource estimate is a useful initial filter for discerning the evolution of technical knowledge associated with a given project. Miller does not have a mineral resource estimate yet; I had, however, heard about the unusual nature of the Miller project (which we’ll get into later) from a number of sources. I therefore decided to accept an invitation to come visit the property, to see for myself. Canada Carbon published a technical report on Miller in May 2014, which follows the NI 43-101 guidelines, in addition to other data associated with work on the project. This report did not include a mineral resource estimate.

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June 2014 Updates To The TMR Advanced Graphite Projects Index

by Gareth Hatch July 19, 2014

I recently updated the TMR Advanced Graphite Projects Index, to reflect one new addition since the last update. The effective date of the latest edition is July 18, 2014. The specifics: On February 25, 2014, Buxton Resources Ltd. (ASX:BUX) announced a maiden JORC-compliant resource estimate for its Yalbra graphite project in Australia. According to the […]

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The Second Round of Chinese Rare-Earth Export-Quota Allocations for 2014

by Gareth Hatch July 19, 2014

Earlier this week the Chinese Ministry of Commerce (MOFCOM) announced the second round of allocations of rare-earth export quotas for 2014, to companies operating in China. This follows the initial announcement on the first allocation for 2014, which was made in December 2013.

A total of 15,501 t of export quotas was allocated in this second round, comprising 13,692 t of light rare-earth (LRE) products and 1,809 t of medium / heavy rare-earth (M / HRE) products. This brings the total allocations for 2014 to 30,611 t, which is similar to the totals for the past four years.

We can now take a look at the specific allocation numbers associated with this week’s announcement, before reviewing allocations over the past few years. The companies below, highlighted in green are Chinese / non-Chinese joint-venture (JV) companies – the rest are Chinese-owned. The list is sorted from highest-to-lowest total allocation:

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May 2014 Updates To The TMR Advanced Graphite Projects Index

by Gareth Hatch June 15, 2014

I recently updated the TMR Advanced Graphite Projects Index, to reflect the addition of a mineral-resource estimate since the last update. The effective date of the updates is June 14, 2014. The specifics: On August 26, 2013, Monax Mining Limited (ASX:MOX) announced a maiden JORC-compliant resource estimate for its Wilclo South graphite deposit, part of the […]

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May 2014 Updates To The TMR Advanced Rare-Earth Projects Index

by Gareth Hatch June 14, 2014

I recently updated the TMR Advanced Rare-Earth Projects Index, to update the pricing used in the Index data, to reflect the average monthly prices for May 2014, as reported by Metal Pages the last edition. There were no other updates to the projects on the Index. The effective date of the latest edition is June […]

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