End of Financial Year, page-42

not sure if this has been posted yet but someone in our sector yesterday released a price sensitive announcement titled 'rare earth market update' which i think also applies to us. heres an excerpt from the first page

 Rare earth (RE) prices are increasing steadily in response to improving fundamentals

 Reforms to the rare earth industry in China have been substantive, with positive impacts, the result of industry consolidation and a crackdown on illegal production

 China’s Rare Earth Industry Development Plan for 2016‐2020 (the Plan) provides a road map for continued reform in China, and insight into future global industry structure

 As the Plan is implemented RE supply will be increasingly constrained, shortages will develop and there will be a need for new mine developments outside China

 China’s downstream processing technology, capacity, and market presence means it continue to have a dominant influence on the evolution of the industry

 Demand has returned, with strong outlook for the markets for permanent magnets and catalysts (Nd, Pr, Tb, Dy, and La)

 Demand growth is being driven by the electrification of transport systems (electric vehicles, train systems) and, new and clean technologies, many of which are closely linked to government policies worldwide

 These government policies are aiming to reduce pollution associated with carbon emissions, promote clean technologies, energy efficiency and renewables  GMEL’s Kvanefjeld Project ideally placed for the next phase of sector growth; positioned at the interface of sustainable new primary supply with Chinese downstream processing technology and international market presence