There were no additions or project updates to the TMR Advanced Rare-Earth Projects Index since the last edition. I did update the pricing used in the Index data, to reflect the average monthly prices for March 2014, as reported by Metal Pages. The effective date of the latest edition is April 5, 2014.
I have also updated the way that the basket price and in-situ resource value data are displayed in the associated chart, using a logarithmic scale to represent the latter parameter. This should make it easier to compare and contrast the various data points.
The Index currently consists of 57 rare-earth mineral resources, associated with 51 advanced rare-earth projects and 49 companies, located in 34 regions within 16 countries.
As usual, the easy-to-remember shortcut for accessing the Index is www.RareEarths.org.
On March 26, 2014, the World Trade Organization (WTO) issued its long-awaited findings in response to formal complaints made by the United States (USA), the European Union (EU) and Japan (collectively the Complainants), concerning China’s approach to the exports of rare-earth elements (REEs), tungsten (W) and molybdenum (Mo).
The 257-page document, combining the individual sets of findings for each Complainant (the Report), was completed by a three-person Panel of the WTO’s Dispute Settlement Body (DSB). It is an exhaustive evaluation of the measures that China has put in place to regulate the export of these materials, and follows a two-year investigation by the WTO into the complaints made.
My March 2012 article on the initiation of the WTO actions, reviewed the details of the initial complaints, and the mechanism behind the WTO dispute process, including the DSB. In it I suggested the potential arguments that China might make to defend its export measures, using certain exceptions to the WTO rules, and the potential consequences of various outcomes.
In the following article, I will review the main findings of the DSB Panel, the basis for their determinations, and the key takeaway points from the Report. We’ll also look at what China’s next moves might be, and the potential consequences for REE supply and pricing. I'll also highlight the ongoing key advantage that the Chinese downstream REE supply chain has over other countries, even in light of the recent WTO findings.
Read the full article →