Nic Earner on the state of the rare earths market
“We have a project that is State and Federal approved, mining lease is granted, we own all the farmland underneath, mines approved, so we can start developing today. This project, with finance, can be executed right now.” States Nic Earner, Managing Director of Alkane Resources Ltd. (ASX: ALK | OTCQX: ANLKY), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.
Tracy Weslosky: What is happening with the rare earths market right now?
Nic Earner: It is really interesting time for the market. If you go out and listen to people, they will say that we know that Lynas which supplies about 20-25% of the worlds battery materials, China has a lock on this stuff…So what you have is, the rise of a producer, Lynas, and a whole series of other projects including ourselves as one of the most advanced projects that can produce rare earths waiting for a news to say, I am going to act now to secure my supply chain. So, its quite a dynamic time and particularly as you can imagine with the Trump administration and who is doing what in trade tariffs people are really watching closely, waiting for a signal that things are starting to break.
Tracy Weslosky: Those of you out there that look at issues like sustainability and geopolitical factors, this is the kind of company to be watching. Can you give us kind of an overview on what’s happening right now with the Dubbo Project?
Nic Earner: Our project is amongst if not the most advanced non-developed project in the world. We have a project that is State and Federal approved, mining lease is granted, we own all the farmland underneath, mines approved, so we can start developing today. This project, with finance, can be executed right now. So we are in a constant and continuous push on marketing, looking for off-takes, co-investors, etc…For us we have a ready to execute project and we are really pushing to get a critical step taken.
Tracy Weslosky: Correct me if I am wrong, that outside of China, when you get this financing in place, you will be one of the largest producers of these rare earths outside of China. Is that correct?
Nic Earner: Absolutely. At the moment outside of China of any substantial nature we have Lynas Corp. digging up at the Mt Weld and shipping to Malaysia. They are the sole supply outside of China. Almost two-third of their product goes into Japan, the rest goes to China. So that’s correct we would be….to access the complete interview, click here
Disclaimer: Alkane Resources Ltd. is an advertorial member of InvestorIntel Corp.