Rare Earth News
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Japanese Prime Minister Shinzo Abe pledged 3.2 trillion yen ($32 billion) to Africa as his government seeks to catch up with China in pursuing resources, markets and influence on the continent.
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Japanese Prime Minister Shinzo Abe pledged 3.2 trillion yen ($32 billion) to Africa today as his government seeks to catch up with China in pursuing resources, markets and influence on the continent.
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Serbia offered to U.S. New Generation Power LLC to invest in Trepca lead and zinc mines in Kosovo as it seeks to reclaim full control over the company located in its breakaway province.
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Some Chinese investment projects, including those for airports, paper pulp factories and gas fields, will no longer need pre-approval from the nation’s economic planning agency.
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Molycorp Inc., the owner of the largest rare-earth deposit outside of China, jumped the most since its July 2010 initial public offering after posting a smaller-than-expected first-quarter loss as volumes rose.
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Solvay SA, the chemical company created 150 years ago to produce soda ash, signaled that a lack of recovery in Europe will hurt earnings this year amid reduced demand for soda ash and plastics and lower sales of carbon credits.
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Lynas Corp., the Australian company building the world’s largest rare earths plant in Malaysia, rose the most since January as the Southeast Asian nation’s government extended its 55-year rule.
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President Barack Obama’s suggestion last weekend that he may favor greater U.S. exports of liquefied natural gas is a welcome sign. More exports would spur more domestic production and help balance U.S. trade.
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Germany wants companies to harvest metals including rare earths from recycled electronics as Europe’s biggest economy seeks to become less dependent on imports from China and other nations.
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Mitsui & Co. and Mitsubishi Corp., Japan’s biggest trading companies, expect a weaker yen to add almost $1 billion to profit this year, putting them on track to outpace their domestic peers in net income growth.
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