INDUSTRY BULLETIN: Highlights from the Metal Events 9th International Rare Earths Conference, Hong Kong
Toronto, Nov 22, 2013 AEST (ABN Newswire) - Avalon Rare Metals Inc. (
TSE:AVL) ("Avalon") was represented at the 9th International Rare Earths Conference on November 12-14, 2013 by President and CEO, Don Bubar, and Vice President, Marketing, Pierre Neatby. The Hong Kong conference has been the largest, and arguably the best, rare earth conference year in and year out. A wide cross section of producers, junior mining companies and more importantly, consumers, were represented. The 2013 conference was well attended with approximately 200 international delegates.
The conference provided Avalon the opportunity to update the industry on the progress of its Nechalacho Rare Earth Elements Project, with a presentation on the first day of the conference. It also provided the opportunity for private meetings with prospective financial or technical partners and potential future customers.
The highlights of the market presentations are as follows:
- Constantine Karayannopoulos, outgoing CEO and President of Molycorp, entertained the audience with another well received keynote address. His most important message was that mining, separation and processing of rare earths outside China will be necessary to bring long term confidence to the rare earths industry. Price stability and development of new applications to foster growth in this sector will be facilitated by alternative sources of rare earths to China's monopoly.
- Judith Chegwidden, Director of Roskill, presented her view on developments in China. China still dominates world demand of rare earths, consuming 65% of the world's light rare earths and 75-80% of the world's heavy rare earths. On the production side, China now accounts for 86% of the world's supply.
- Both Constantine and Judith mentioned the negative impacts on the market and the environment as a result of illegal mining, processing and smuggling. Judith believes the volume of illegal activity is still running at 20,000 tonnes per year, which is a very significant proportion of the world's consumption. The Chinese government has been making efforts to curb this illegal activity with moderate success.
Certainly, the conference of 2013 can't match the conferences in 2010 and 2011 in terms of excitement as the market has settled down after a turbulent period. However, the message from consumers has not changed. Most consumers would like to see a rare earth supply chain established outside China to reduce the risk of price volatility and product shortages, and Avalon is well-positioned now to serve this need, particularly for the heavy rare earths.
About Avalon Advanced Materials Inc
Avalon Advanced Materials Inc. (TSE:AVL) (OTCMKTS:AVLNF) (formerly Avalon Rare Metals) is a Canadian mineral development company specializing in niche market metals and minerals with growing demand in new technology. The Company has three advanced stage projects, all 100%-owned, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, niobium, and zirconium. Avalon is currently focusing on its Separation Rapids Lithium Project, Kenora, ON and its East Kemptville Tin-Indium Project, Yarmouth, NS. Social responsibility and environmental stewardship are corporate cornerstones.
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