Significant Rare Earth Element Claim Discovery in Peru Reported

[Judi Lynn]

Significant Rare Earth Element Claim Discovery in Peru Reported

CUSCO, Peru, Dec. 30, 2014 /PRNewswire/ -- RioSol SAC LLC and Compania Minera Rio Sol SAC ("RioSol" or "The Company&quot today announced a significant rare earth element and poly-metallic claim discovery in Peru, with reports indicating the 10-kilometer claim as among the largest rare earth claims in Peru containing both light rare earth elements (LREEs) and heavy rare earth elements and metals (HREEs).

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Third-party geology and geochemical analysis indicates the claim is the largest in Peru, with further exploration warranted to further delineate the size and scale of the claim.

The geology consultants leading the project were Rildo Oscar Rodriguez and a Peruvian rare earth expert, both of Lima. According to Mr. Rodriguez, "The claim is one of the newest rare earth finds in all of Latin America that contains both light and heavy rare earth elements and metals, as well as copper, zinc, aluminum and other base metals. It proves that the potential for rare earth elements exists outside of China with significant opportunity for development of new production in a mining-friendly country."

Currently, approximately 90-95 percent of rare earth elements are located in China. Having a supply source in the Americas for commodities used today and in the future will be important for geographic diversity and commercial competition.

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Uses of Rare Earth Elements

Rare earth metals and alloys that contain them are used in many devices that people use every day such as computer memory, DVDs, rechargeable batteries, cell phones, catalytic converters, specialty magnets, fluorescent lighting and much more.

From an economic standpoint, rare earth element claims are among the most sought-after in the world due to the scarcity of commercial deposits.

More:
http://www.prnewswire.com/news-releases/significant-rare-earth-element-claim-discovery-in-peru-reported-300014406.html

[jeff47]

1. Uh.....

It proves that the potential for rare earth elements exists outside of China

Uh, we already know that rare earth elements exist outside of China. For example, there's deposits in the US. "Rare Earth elements" aren't actually rare.

China is currently the world's supplier of these elements, because China is selling them for less money than anyone else can mine them.

[eppur_se_muova]

2. Not a well-informed journo ...

China dominates rare earth production.

It is estimated to be responsible for 90% of its production, despite only having a third of the world's deposits.

http://www.bbc.com/news/business-30678227