Rare earths prices jump

Townsville Bulletin - - Investor - Steve Ward

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.

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