Large Rare Earth Discovery in North Korea

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Time to start digging! “UK-based SRE Minerals recently announced the discovery of a large rare earth deposit in the Democratic People’s Republic of Korea (DPRK), better known as North Korea; the company believes it could be one of the biggest rare earth deposits anywhere in the world,” reports Rare Earth Investing News.

“Concurrently, SRE signed a joint venture agreement with Korea Natural Resources Trading for the rights to develop rare earth element (REE) deposits at Jongju, located north of Pyongyang, the capital of North Korea, for the next 25 years. The agreement includes an opportunity to renew for a further 25 years. Through the joint venture, a new British Virgin Islands-based company called Pacific Century Rare Earth Minerals was created. That company has been granted the right to create a processing plant at the site in Jongju.”

In metal price news for rare earths…

Prices for cerium oxide didn’t move this week. Other metals on the weekly Rare Earths MMI® followed suit. Prices for dysprosium oxide remained constant. Europium oxide remained unchanged for the week.

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Lanthanum oxide prices held steady from the previous week. The price of neodymium did not change since the previous week. The week finished with no movement for neodymium. Neodymium oxide remained unchanged for the week.

Following a steady week, prices for praseodymium oxide closed flat. Rare earth carbonate remained essentially flat from the previous week. Samarium oxide traded sideways last week. Prices for terbium metal remained constant.

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The price of terbium oxide did not change since the previous week. Yttria prices held steady from the previous week. Yttrium traded sideways last 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.