The rare earths market in the United States is definitely hot. The President of the United States has given a directive to the Department of Defense, specifically telling them that the Department of Defense must become independent of all other nations in its necessary supplies of rare earths… They (the Department of Defense) have a plan and they have broken the supply chain down into segments like they have a plan on looking at mines, recycling and extracting rare earths from coal…”, States Jack Lifton, Co-founding Principal at Technology Metals Research LLC (and the new InvestorIntel host for all critical materials), in an interview with InvestorIntel’s Tracy Weslosky.
Jack went on to say that extracting rare earths from coal can be economical and there are a few projects in the US that look favorable to extract critical rare earths from coal. Jack further added that the US is considering Canada, Australia and other ally countries as a potential source of rare earths.
He emphasized on Canada as a potential source because of favorable logistics and the fact that most of the rare earth deposits in North America are in Canada. The Quebec government favors mining and has a lot of companies with projects having both heavy rare earths and light rare earths. He also said that the deficit globally is in the heavy rare earths and China is importing ore from Myanmar for most of its heavy rare earths demand.
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