SOURCE: The Bedford Report

The Bedford Report

August 19, 2011 08:16 ET

Rare Element Resources and Molycorp Respond to Surging Rare Earth Prices

The Bedford Report Provides Equity Research on Molycorp & Rare Element Resources

NEW YORK, NY--(Marketwire - Aug 19, 2011) - Prices of most rare earth products have risen by three to five times this year since China started consolidating the industry. North America miners -- looking to break China's monopoly on the Rare Earth market -- have been responding to the surge in prices. The Bedford Report examines the Rare Earth Elements Industry and provides stock research on Molycorp, Inc. (NYSE: MCP) and Rare Element Resources Ltd. (NYSE Amex: REE) (TSX-V: RES) (TSX: RES). Access to the full company reports can be found at:

Citing industry insiders, China Daily released an article arguing that rare earth prices will remain bullish in the second half of this year, but won't be higher than the first half's level, as companies in downstream activities halt production due to expected high operating costs.

In late-2010 China announced a five-month crackdown on illegal mining in order to protect the environment and its resources. This campaign was concentrated in the south where mines are commonly small, rural, and illegal operations particularly prone to release toxic wastes into the general water supply.

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North American Rare Earth miners are responding to the rally in prices. Australia, South Africa, Alaska, Canada and Sweden are considered to have the leading mines in terms of quality outside of China.

Rare Element Resources plans to begin producing rare earths in 2015, while Colorado-based Molycorp Inc. plans to increase output to 40,000 tons a year by the end of 2015. Molycorp reported second-quarter earnings of 52 cents a share, beating analyst expectations of 40 cents a share, according to Thomson Reuters.

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