Globe Metals makes Mozambique discoverySeptember 29, 2010 -...

Globe Metals makes Mozambique discovery
September 29, 2010 - 9:34PM

AP

An Australian mining company says it has discovered deposits in Mozambique of rare minerals with a variety of industrial uses.

Globe Metals and Mining executive chairman Mark Sumich said in a statement on Tuesday the discovery was made near Mount Muambe in Tete, a western province.

Sumich says the minerals found included dysprosium, used to make laser materials and in components of nuclear reactors.

Only about 100 tonnes of dysprosium are produced a year, mostly in China. Dysprosium prices have risen sevenfold since 2003, and by late 2009 the price was $US53 ($A54.76) per pound (about $US24 ($A24.80) per kilogram).

Other minerals found are used in fluorescent lamps and X-ray machines.

Sumich says drilling will start at Mount Muambe in coming weeks.
Seen in Business Day...Ya gotta love Dysprosium. The Gold to the technology of the future..One of em anyways.