Friday, January 7, 2011

And Today's Market Moving Rare Earth News Is... (MCP; REE; AVL)

The stocks seem to be stabilizing, Molycorp up 1.5%, Rare Element up 3.75% and Avalon up 1.87% despite a downgrade to hold from Laurentian Bank.

And today's big news?
First the backstory via the New York Times, Dec. 29:
In China, Gang Run Illegal Rare Earth Mines Face Crackdown

And on the 30th:
Main Victims of Mines Run by Gangsters Are Peasants

Which leads us to today's headline from Peoples Daily:
Rare earth industry may face tougher ecological standards 

As reported by the AP via Bloomberg:
Report: China preparing new rare earths standards

And Reuters Africa:
UPDATE 1-China to control rare earth extraction, pollution

Here's Peoples Daily:
New standards for rare earth sector
Rules part of efforts to crack down on illegal mining, reduce exports ...MORE

It is estimated that as much as half of the world's production of the heavy REE's are produced illegally in China.