It's very interesting to see that the Chinese have only put export controls on rare earth products containing Samarium, Gadolinium, Terbium, Dysprosium, & Lutetium and 'proxy' rare earths Yttrium & Scandium, and not the full R.E. suite including La, Ce, Pr, Nd etc.
There is some speculation that this is due to a reduction in Chinese R.E. supplies of these elements from northern Myanmar in-situ IAC producers due to rebel activities.One could imagine that once the smoke has cleared from the Trump tariffs stink bomb, western markets will come to realise that they will have to pay up to encourage potential non-PRC producers of these products to get into production, and we could reasonably expect to see a price spike for the controlled R.E. products similar to the original R.E. boom back in 2010, when China banned R.E. exports to Japan, whereas there is no reason to expect a price spike in Pr & Nd.
Fortunately for NTU, Brown's Range xenotime ores are particularly well endowed in the controlled 'heavies', Tb, Dy, Lu and Y, making up approx. 82% of the TREO basket price.
Western/non-PRC prices for the controlled R.E. products will have to decouple upwards from those quoted on the SMM, which may present NTU with a window to get a favourable Wolverine DFS published and the project finally receive funding commitments allowing for a FID.
Interesting times indeedy!..all due to the Orange Buffoon?
DYOR&GLTAH!!!
(20min delay)