Evaluating Rare Earth Element Deposits

Abstract

There has been a significant growth in exploration activity for rare earth element ("REE") deposits since the firming of prices began in 2003. Numerous deposits have been subject to detailed e valuation, though during this period only one new western-world operation at Mt Weld, Western Australia is in production. One older operation at Mountain Pass, USA, re -opened in 2012 but, due to low rare earth prices, shut down in 2015. Chinese production dominates the world rare earth industry, accounting for approximately 80 - 85% of the world’s annual production of ~125,000 tonnes, from numerous deposits in five provinces. It is reported that in excess of approximately 45,000 tonnes per year of total Chi nese production is illegal.