07-07-2011, 10:32 PM
Analysis: Underwater Rare Earths Likely a Pipe Dream
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By Julie Gordon
Thu Jul 7, 2011 4:39pm EDT
by Julie Gordon
An underwater bonanza of rare earth deposits discovered by Japanese scientists poses little threat to miners already developing major rare earth projects on solid ground.
Companies such as Molycorp, Lynas and Avalon Rare Metals may rest assured that developing the offshore bounty could take decades and cost billions, making it little more than a pipe dream, analysts say.
"'Desperado', that's the first word that comes to mind," said Jacob Securities analyst Luisa Moreno. "It makes for some nice headlines, but I don't think it would really be feasible to do this."
http://www.reuters.com/article/2011/07/0...5920110707
inShare
2
Share this
By Julie Gordon
Thu Jul 7, 2011 4:39pm EDT
by Julie Gordon
An underwater bonanza of rare earth deposits discovered by Japanese scientists poses little threat to miners already developing major rare earth projects on solid ground.
Companies such as Molycorp, Lynas and Avalon Rare Metals may rest assured that developing the offshore bounty could take decades and cost billions, making it little more than a pipe dream, analysts say.
"'Desperado', that's the first word that comes to mind," said Jacob Securities analyst Luisa Moreno. "It makes for some nice headlines, but I don't think it would really be feasible to do this."
http://www.reuters.com/article/2011/07/0...5920110707