REMX - 'Deal's Off' Canadian Officials Tell China
2024-06-25 14:45:00 ET
Summary
- China’s recent attempt to secure a rare earth minerals stockpile ended in failure when Australia-based Vital Metals announced that minerals collected from its Saskatchewan-based Nechalacho Project will remain within Canadian borders.
- On the mining stage, Canada is marketing itself as a direct competitor to China, flaunting its enormous mineral reserves as an alternative source for wary European countries afraid to rely on Chinese producers.
- With two of the world’s largest holders of rare earths reserves vying for stockpiles, the pressure on consumer countries to pick sides is growing, and this new symptom of conflict in the metals market will likely boost REE and related metal prices as countries stock up while supplies last.
Originally published on June 20, 2024
China’s recent attempt to secure a rare earth minerals stockpile ended in failure when a competitor stepped in to snag the deal....
'Deal's Off,' Canadian Officials Tell China