Rare Earth Resources is Planning a Mine in Northeast Wyoming

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Rare Element Resources, a Vancouver-based company, hopes to spend around 40 years mining a portion of the Black Hills National Forest in northeast Wyoming for some of the planet’s most valuable minerals, the Casper Star-Tribune reported.

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The project, combined with a nearby processing plant in nearby Upton would create about 130 jobs in an area with only a few thousand people. Work could begin as early as 2016 if the roughly $450 million project is approved and financed.

Along with the other metals on the weekly Rare Earths MMI®, cerium oxide saw little change in its price this week at CNY 15,000 ($2,426) per metric ton. Dysprosium oxide prices held steady from the previous week at CNY 1,450 ($234.47) per kilogram. Closing at CNY 2,600 ($420.44) per kilogram, europium oxide remained unchanged for the week.

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Prices for lanthanum oxide remained constant, closing the week at CNY 16,000 ($2,587) per metric ton. Following a steady week, prices for neodymium closed flat at CNY 375,000 ($60,640) per metric ton. Neodymium remained essentially flat from the previous week at CNY 375,000 ($60,640) per metric ton. At CNY 295,000 ($47,704) per metric ton, the price of neodymium oxide did not change since the previous week.

Closing at CNY 530,000 ($85,705) per metric ton, praseodymium oxide remained unchanged for the week. Prices for rare earth carbonate remained constant, closing the week at CNY 25,000 ($4,043) per metric ton. Samarium oxide traded sideways last week, hovering around CNY 18,500 ($2,992) per metric ton. Terbium metal remained essentially flat from the previous week at CNY 4,000 ($646.83) per kilogram.

Following a steady week, prices for terbium oxide closed flat at CNY 2,800 ($452.78) per kilogram. At CNY 40,000 ($6,468) per metric ton, the week finished with no movement for yttria. Yttrium prices held steady from the previous week at CNY 270.00 ($43.66) per kilogram.

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.

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