Avonlea Minerals (ASX:AVZ) Rare Earth and Specialty Minerals in Namibia
Sydney, July 20, 2011 AEST (ABN Newswire) - Avonlea Minerals Limited (ASX:AVZ) has entered into a binding Agreement with Kudu Minerals to allow Avonlea to access and explore areas of prospectivity for Rare Earth Elements (REE), Vanadium and certain base metals. High grade Vanadium potential, Multiple and immediate drill targets have been identified for REE and Vanadium at the historical Abenab Vanadium Mine in Namibia.
Territory Uranium Company Limited (ASX:TUC) reported successful intersection at the Quantum rare earth prospect in Northern Territory. Approximately 11 metres of strong mineral alteration, quartz fluorite veining and sulphide mineralisation have been intersected. Diamond drilling continues at Quantum and another phase of step out RC drilling is planned to commence this week.
Frontier Rare Earths Limited (TSE:FRO) has signed a heads of agreement with Korea Resources Corporation to form a strategic partnership to accelerate the development of Frontier's Zandkopsdrift rare earth project in South Africa. Under the agreement, Korea Resources Corporation will acquire up to a 20% interest in the Zandkopsdrift project as well as up to a 10% equity position in Frontier and the right to purchase up to 40% of Zandkopsdrift's rare earth production. The companies expect to sign the binding strategic partnership agreement in the fourth quarter 2011.
Avalon Rare Metals (NYSE:AVL) issued an Industry Bulletin yesterday after China's Ministry of Commerce announced on July 14th that the rare earth export quota for the second half of 2011 will be 15,738 tonnes. Avalon's view is that the announcement is a continuation of China's strategy to target 30,000 tonnes as the exports quota for the next five years. China's overall rare earth export strategy has not changed and industry outside China still needs new rare earth production from outside China to meet increasing global demand.
Investorium.tv, Asia's corporate webcasting platform will be broadcasting a Rare Earth and Specialty Minerals Webcast on December 12th. Companies will be simultaneously presenting to a live audience in Sydney and Webcast over Investorium.tv from 4:45PM AEST.
Minerals rich in Rare Earth elements are key for the development and manufacture of key components in clean energy technologies, automobiles and electronics. They are essential to almost every environmental friendly technology like wind turbines, photovoltaic panels and hybrid motors. It is estimated that all these Rare Earth Dependant Technologies are reliant on Rare Earth materials from China and a limited number of deposits outside of China for their production.
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