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 August 2, 2015. The specifics:

  • On May 11, 2015, Ucore Rare Metals Inc. (TSX.V:UCU) announced an updated NI 43-101-guided mineral-resource estimate for the Bokan-Dotson Ridge project in the USA. According to the associated news release, 4.8 Mt of the resource is at the Indicated level @ 0.602% TREO and 1.1 Mt is at the Inferred level @ 0.603% TREO, both at a cut-off grade of 0.40% TREO;
  • On May 12, 2015, Frontier Rare Earths Ltd. (TSX:FRO) announced an updated NI 43-101-guided mineral-resource estimate for the Zandkopsdrift project in South Africa as part of a completed pre-feasibility study. According to the associated news release, 23.0 Mt of the resource is at the Measured level @ 2.07% TREO, 22.7 Mt is at the Indicated level @ 1.73% TREO, and 1.1 Mt is at the Inferred level @ 1.52% TREO, each at a cut-off grade of 1% TREO; and
  • On June 17, 2015, Geomega Resources Inc. (TSX.V:GMA) announced an updated NI 43-101-guided mineral-resource estimate for the Montviel project in Canada. According to the associated news release, 82.4 Mt of the resource is at the Indicated level @ 1.51% TREO and 184.2 Mt is at the Inferred level @ 1.43% TREO, at an unspecified cut-off grade.

The Index currently consists of 58 rare-earth mineral resources, associated with 53 advanced rare-earth projects and 49 companies, located in 35 regions within 16 countries.

I have also updated the pricing used in the Index data, to reflect the average monthly prices for July 2015. The underlying pricing data used are copyright © 2015 Argus Media Group, with all rights reserved and used with permission under license. 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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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 April 2, 2015. The specifics:

  • In November 2014, Mineração Serra Verde, a subsidiary of Mining Ventures Brasil, completed a pre-feasibility study for the Serra Verde project in Brazil, which included an upgraded NI 43-101-guided mineral-resource estimate. Per the company's Web site, 7 Mt of the resource is at the Measured level @ 0.16% TREO, 381 Mt is at the Indicated level @ 0.16% TREO, and 521 Mt is at the Inferred level @ 0.016% TREO, each at a cut-off grade of 0.1% TREO;
  • On December 17, 2014, AusAmerican Mining Limited (ASX:AIW), owners of the La Paz project in the USA, changed its name to AusROC Metals Ltd.(ASX:ARK);
  • On January 22, 2015, IAMGold Corporation (NYSE:IAG) completed the sale of its Niobec niobium mine in Canada, and the associated adjacent REE deposit, to Magris Resources Inc., a private Canadian company.;
  • On February 12, 2015, Greenland Minerals and Energy Ltd. (ASX:GGG) announced an updated JORC-guided mineral-resource estimate for the Kvanefjeld project in Greenland. According to the associated news release, 143 Mt of the resource is at the Measured level @ 1.21% TREO, 308 Mt is at the Indicated level @ 1.11% TREO, and 222 Mt is at the Inferred level @ 1.00% TREO, each at a cut-off grade of 0.015% U3O8. We await a response from the company on some details of the elemental breakdown, before we update the distribution and grade tables; and
  • On February 23, 2015, Northern Minerals Limited (ASX:NTU) announced an updated JORC-guided mineral-resource estimate for the Browns Range project in Australia. According to the associated news release, 4.7 Mt of the resource is at the Indicated level @ 0.70% TREO and 4.3 Mt is at the Inferred level @ 0.56% TREO, each at a cut-off grade of 0.15% TREO.

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 March 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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December 2014 Updates To The TMR Advanced Rare-Earth Projects Index

by Gareth Hatch January 21, 2015

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 January 21, 2015. The specifics: On December 17, 2014, Tantalus Rare Earths AG (F:TAE) announced an updated NI 43-101-guided mineral-resource estimate for the Tantalus project in Madagascar. According to the […]

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January 2015 Updates To The TMR Advanced Graphite Projects Index

by Gareth Hatch January 18, 2015

I recently updated the TMR Advanced Graphite Projects Index, to reflect three new and two updated mineral-resource estimates, announced since the last update. The effective date of the updates is January 15, 2015. The specifics: On October 17, 2014, Sovereign Metals Limited (ASX:SVM) announced a maiden JORC-guided resource estimate for its Duwi graphite project in […]

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China Has Not Relinquished Control Of Its Rare-Earth Exports

by Gareth Hatch January 6, 2015

Usually around this time of year I would have already posted an update on the export quotas issued by the Chinese Ministry of Commerce (MOFCOM) to rare-earth element (REE) producers in China.

Not so this year.

The twice yearly announcements on the specifics of the allocations were always met with a degree of interest that far outweighed their real importance. It was the illusory nature of the export quotas and the complete misreading of the 2010 quota allocations, by entities outside of China, that led to the completely unnecessary, yet unfortunately destructive run up (and subsequent crash) in prices for these materials in 2010 and 2011.

On December 31, 2014 MOFCOM announced that dozens of products previously subject to export quotas would instead now be subject to an export licensing regime. Perhaps the fact that REEs can be found cheek to jowl alongside live cattle, frozen meat, tungsten, sand, motorcycles and paraffin, to name but a few of the commodities listed, will finally correct the notion that some folks have of REEs as unique, precious snowflakes in the grand scheme of nefarious Chinese strategy. Or perhaps not…

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

by Gareth Hatch December 7, 2014

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 […]

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Could These New Uses For Yttrium And Cerium Increase Demand Before 2020?

by Gareth Hatch December 3, 2014

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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