Mkango Resources said on Monday that it completed leach optimization test work for its pre-feasibility study on its Songwe Hill rare earth project in Malawi.
As quoted in the press release, “William Dawes, Chief Executive of Mkango, stated ‘This is a further milestone towards completion of the pre-feasibility study, targeted for first quarter 2014. The pre-feasibility study is based on the previously defined Indicated mineral resource so no further drilling is anticipated in the near term. Songwe hosts a major strategic resource of rare earths in Malawi, with the critical rare earths, neodymium, dysprosium, europium, terbium and yttrium, accounting for circa 70% of the gross in-situ value at current prices, and praseodymium accounting for a further 15%.'”
This week saw little change in prices for the Rare Earths MMI®. cerium oxide kept steady. Following a steady week, prices for dysprosium oxide closed flat. Europium oxide prices held steady from the previous week.
Following a steady week, prices for lanthanum oxide closed flat. The price of neodymium did not change since the previous week. Neodymium prices held steady from the previous week. Neodymium oxide traded sideways last week.
Praseodymium oxide remained essentially flat from the previous week. Prices for rare earth carbonate remained constant. The week finished with no movement for samarium oxide. Terbium metal remained unchanged for the week.
Following a steady week, prices for terbium oxide closed flat. The price of yttria did not change since the previous week. Yttrium remained unchanged for the week.
The Rare Earths MMI® collects and weights 14 global rare earth metal price points to provide a unique view into rare earth metal price trends. For more information on the Rare Earths MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.