Fri, Apr. 24, 12:47 PM
- China’s decision to scrap export quotas and taxes on rare earth elements may boost stalled demand for the products, Lynas (OTCPK:LYSCF, OTCQX:LYSDY) CEO Amanda Lacaze tells Bloomberg.
- Users have been drawing down on stockpiles while awaiting clarity over China’s policy on the export of the elements, Lacaze says.
- China, which produces ~85% of global supply, announced yesterday it will remove export tariffs on rare earths beginning May 1.
- Lynas, which said March was the first month in the company’s history in which it was cash flow positive, is seeking to restructure its debt before September, the CEO says.
- Relevant tickers: MCP, REE, AVL, GSM, GMO, OSN, REMX
Thu, Apr. 23, 5:47 AM
- China will scrap export duties on rare earths and some metal products.
- Export duties will be removed on a wide variety of metal products, including those on rare earths, molybdenum, tungsten and some aluminum products, effective May 1.
- Beijing is attempting to boost exports, which fell 15% year-over-year in March.
- Currently, China levies export duties between 15% and 20% on rare earths products while molybdenum products carry export duties of 5% to 20%.
- Stocks: MCP, REE, AVL, GSM, GMO, OSN, REMX
Mon, Mar. 23, 8:42 AM
- Molycorp (NYSE:MCP) +22.2% premarket after 60 Minutes aired a report last night on the importance of rare earth elements.
- The basis of the report is that modern U.S. life - from smartphones to cars to defense missiles - depends on rare earth elements, but that China dominates the industry
- Investors may be hoping the telecast sparks renewed interest in legislation in Congress calling for subsidies for the U.S. rare earths industry.
- Also on watch: REE, AVL, GSM, GMO, OSN, REMX
Mon, Feb. 23, 7:41 AM
- Metal producers Globe Specialty Metals (NASDAQ:GSM) and Grupo FerroAtlantica agree to merge through an all-stock transaction, forming a company with a combined enterprise value of $3.1B.
- Grupo Villar Mir, the parent of FerroAtlantica, will own 57% of the new company and GSM shareholders will own the rest.
- Almost 90% of GSM’s revenue comes from North America, while Madrid-based FerroAtlantica generates most of its sales in Europe.
Mon, Feb. 9, 9:56 PM| Comment!
Sun, Feb. 8, 5:35 PM
Wed, Feb. 4, 3:05 PM
Mon, Jan. 5, 8:15 AM
- China has dropped its decade-old quotas limiting exports of rare earths, as it moves to comply with a WTO ruling last year that the country's tariff and quota system was discriminatory and gave unfair advantage to domestic consumers.
- Under the new guidelines, rare earths will require an export license but the amount that can be sold abroad will no longer be covered by a quota.
- China has ~30% of global deposits of rare earths but accounts for more than 90% of production.
- Related stocks include MCP, REE, AVL, GSM.
Nov. 5, 2014, 7:00 PM| Comment!
Nov. 4, 2014, 5:35 PM
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