Also, results show high grades of heavy rare earth elements such as thulium and ytterbium, which are priced orders of magnitude higher than the more common light rare earths such as cerium and lanthanum.
There is a high ratio of HREO:TREO compared to existing REO mines and deposits. HREO prices continue to rise and individual HREOs are up to 100x the prices for light rare earth oxides (LREO).
In addition, significant grades of niobium, tantalum and zirconium accompany the rare earth mineralisation, which all add to the value of the project.
Chinese dominance of REO supply continues to concern end-users. China controls around 95% of rare earth oxide production, and talk last year that the economic giant was considering restricting exports sparked concern in other manufacturing economies, as rare earth metals are vital to the production of many high-tech products.
"Japanese motor vehicle manufacturers such as Toyota and Mitsubishi, among others, are currently actively seeking long term, secure primary supplies of this particular element, and we are well positioned to potentially fulfil a portion of this demand,? Sumich added.
Globe Metals & Mining said a drilling program is planned for May 2010. AddThis Feed Button Register here to be notified of Proactiveinvestors One2One Forums. Other Globe Metals & Mining articles
* 28/09/10 Globe Metals & Mining indentifies potential heavy rare earth oxides in Mozambique * 19/10/09 Globe Metals and Mining well-positioned to ride out looming tantalum shortage * 03/02/09 Globe Metals inks MOU for supply of Niobium from Malawi
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