The London REE Report: The Wizard of Oz

Source: MINING (11/24/10)

"Australia offers to be a reliable future supplier of REEs to Japan."

In a positive development yesterday, Reuters reported on Australia offering to become a reliable future supplier of rare earth elements (REEs) to Japan. Following is how The Wall Street Journal covered the development:

Australian Foreign Minister Kevin Rudd vowed Tuesday to clear the way for the long-term supply of the country's REEs to Japan amid supply worries surrounding China, the world's biggest producer of the metals.

"Australia stands ready to be a long-term, secure, reliable supplier of rare earths to the Japanese economy," Rudd told reporters following meetings with Japanese Foreign Minister Seiji Maehara in Canberra.

China produces some 97% of the world's supply of REEs, used in an increasing range of electronic gadgets, electric cars, wind turbines and military equipment. It has priced out producers in other nations, including the U.S. and Australia, in the past two decades.

But Chinese officials are signaling greater efforts to tie the export of rare earth metals to tougher environmental standards. That move is forcing Japan, the world's largest user of the metals outside of China, to scramble for alternative supplies.

Last year, Canberra blocked plans by China Non-Ferrous Metal Mining (Group) Co. to invest AUD$252 million (US$249M) in Lynas Corp., an Australian miner of rare earth metals.

"The Australian government understands the strategic significance of rare earths globally," Rudd said. "We recognize that within our country we possess a range of these rare earths."

Maehara told reporters Japan is "extremely grateful" to Australia, a stable supplier of a range of resources. "We're very pleased that Australia is able to give us a long-term commitment in relation to rare earths," he said.

The question of Australia's foreign-investment plan wasn't raised in Tuesday's talks, Rudd said, amid signals Japanese companies could look to invest in Australian rare earths mines.

Novavax Shares Shoot 65% Higher on Phase 3 COVID-19 Vaccine Trial's 89.3% Effectiveness
Source: Streetwise Reports (01/29/2021)

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Abiomed Shares Gain 8% After Firm Announces Record Q3 Revenue of $232 Million
Source: Streetwise Reports (01/28/2021)

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Sorrento Shares Rise 35% After Firm Posts Positive Data from Phase 1b ICU COVID-19 Trial
Source: Streetwise Reports (01/27/2021)

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Junior Mining Sector 'the Best Value in the Space'
Source: Streetwise Reports (01/27/2021)

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Vir Shares Climb 48% on Initial Phase 1 Chronic Hepatitis B Trial Data
Source: Streetwise Reports (01/26/2021)

Vir Biotechnology shares traded higher after the company reported data from its Phase 1 Chronic Hepatitis B Study that showed VIR-3434 significantly and rapidly reduced hepatitis B surface antigen.

Aurinia Pharma Shares Open at 52-Week High as FDA Approves Adult Lupus Nephritis Drug
Source: Streetwise Reports (01/25/2021)

Shares of Aurinia Pharmaceuticals traded 30% higher after the company reported that the U.S. Food and Drug Administration approved its LUPKYNIS™ (voclosporin) for use in treating adults with active lupus nephritis.

AzurRx Doses First Two People in Expanded Phase 2b Trial of Cystic Fibrosis Patients
Source: Streetwise Reports (01/22/2021)

AzurRx BioPharma shares traded 45% higher after the firm advised it had dosed the first two patients in its Phase 2b OPTION 2 Extension Study of MS1819 for treatment of exocrine pancreatic insufficiency in patients with cystic fibrosis.

NGL Energy Shares Rise 21% as It Seeks to Raise $2.05 Billion from Senior Secured Note Offering
Source: Streetwise Reports (01/21/2021)

Shares of NGL Energy Partners LP traded higher after the firm made a series of announcements over the past three days regarding an update on financial operations, a settlement with a customer in bankruptcy, a quarterly Class D unit distribution and a $2.05 billion senior secured debt offering.

Explorer Discovers New Gold Mineralization at Abitibi Gold Belt Property
Source: Streetwise Reports (01/21/2021)

iMetal Resources is setting out to see if the multi-million ounce gold resource next door continues onto its Gowganda West property in Ontario.

Gritstone Oncology Licenses LNP Platform from Genevant Sciences to Develop COVID-19 Vaccine
Source: Streetwise Reports (01/20/2021)

Shares of Gritstone Oncology reached a new 52-week high price after the company advised it entered into a non-exclusive licensing agreement with Genevant Sciences to develop and commercialize self-amplifying RNA vaccines for use against SARS-CoV-2.