NEW YORK, NY — (Marketwire) — 08/07/12 — China has continued to dominate the Rare Earths Industry. A recent report from Bloomberg stated that after complaints from the U.S., the European Union and Japan, World Trade Organization judges will investigate China–s limits on rare earth exports. The Market Vectors Rare Earth/Strategic Metals ETF (REMX) has fallen nearly 20 percent in the last three months lagging the broader markets by a large margin. Five Star Equities examines the outlook for companies in the Rare Earth Industry and provides equity research on Molycorp, Inc. (NYSE: MCP) and Rare Element Resources Ltd. (NYSE MKT: REE).
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China currently accounts for approximately 90 percent of the world–s rare earth supply. China has argued that the limits on exports are in place to protect the country–s fading natural resources and environment. China–s regulation on rare earths became a major political issue in July 2010 after the country slashed domestic output and export quotas by 40 percent. Recent data from Bloomberg Government shows that exports of rare-earth oxides from China have fallen 56 percent during the first five months of 2012.
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Molycorp owns developed rare earth projects outside of China. Shares of the company hit a new all-time low, dropping 28.5 percent to $11.49 last Friday. Molycorp stated that it will need to acquire additional funding to cover capital expenditures and other cash requirements for the year. “We cannot assure you that we will be able to obtain any financing on commercially acceptable terms or at all,” Molycorp said in a statement.
Rare Element Resources– Bear Lodge alkaline-igneous complex hosts one of the largest disseminated rare-earth elements (REE) deposits in North America. The company reported on June 26 that the 2012 drilling and exploration program has commenced at the Bear Lodge rare earth element project in Wyoming.
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