Rare earths prices jump
ARAFURA Resources Ltd says the ‘‘ era’’ of low rare earths prices has passed, with the price of 1kg of rare earths quoted by UK-based Metal Pages up to $ US120.55 ($ A122) – or $ US3375 ($ A3405) per tonne of in-situ ore. The rare earths company says it remains on track to deliver first production in 2013 of 20,000 tonnes of rare earth oxides from its Nolans project, 135km north-west of Alice Springs. China produces 97 per cent of rare earths. Chief executive Steve Ward said Arafura was one of only a few potential producers that could meet non-Chinese demand.