NEW YORK, NY--(Marketwire - Aug 27, 2012) - China's control of the rare earth market has come under increased scrutiny since 2010. Over the past several years China has slashed their export quotas of rare earth minerals to cope with their growing domestic demand. U.S. industry officials suggest it is an unfair trade practice, against rules established by the World Trade Organization (WTO), a group that includes China as a member. The Paragon Report examines investing opportunities in the Rare Earths Industry and provides equity research on Rare Element Resources Ltd. (NYSE: REE) Great Western Minerals Group Ltd. (PINKSHEETS: GWMGF) (TSX VENTURE: GWG).
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Currently China produces about 95 percent of global rare earth supplies. In a response to complaints from the US, the European Union and Japan the WTO last month set up panel to probe China's rare earth export policies. In what is seen as the first step in loosening China's grip on the rare earth market, China's government raised its rare-earth export quota for the first time in seven years. China's Ministry of Commerce last week reported that it will increase quotas by 2.7 percent to 30,996 tons. While the increase is a positive sign actual imports of rare earths have fallen sharply. During the first 7 months of the year exports have fallen 36.7 percent according to recent customs data.
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Rare Element Resources' Bear Lodge Property in Wyoming, USA, contains one of the largest disseminated rare-earth element (REE) deposits in North America (US Geological Survey Professional Paper 1049D) as well as extensive gold occurrences. The Bear Lodge Project has high-grade light REE and significant quantities of heavy REEs, favorable metallurgy, outstanding infrastructure, and it is located in one of the world's best mining jurisdictions, recently globally ranked fourth by the Fraser Institute.
Great Western Minerals Group Ltd. is an integrated rare earth processor. Its specialty alloys are used in the battery, magnet and aerospace industries. In addition to an exploration program at their Steenkampskraal mine, the company also holds interests in four active rare earth exploration and development properties in North America.
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