#Mining in the News
- Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Prices of Chinese Rare Earths
are Soaring; @DefenseMetals #REE
Vancouver, British Columbia – December 8, 2020 Investorideas.com Newswire – Rare earth
sector alert for -Defense
Metals Corp. (TSX-V: DEFN
/ OTCQB: DFMTF
/ FSE: 35D)- Prices of Chinese Rare Earths Are Soaring.
Read this news
featuring DEFN.V in full at https://www.investorideas.com/news/2020/mining/12081Defense-Metals-Chinese-Rare-Earths.asp
Sector News: Prices of Chinese Rare Earths Are Soaring
Oil.com
reports: BMO Capital Markets says that a
surge in the price of Chinese rare earth metals in November is a reflection of
the geopolitical tensions between that country and the developed world. Commenting
on the sudden price gains in a research note, BMO’s commodity analyst Colin
Hamilton also said that as nations around the world consider self-sufficiency
in rare earths and other critical minerals, while also enacting more trade
restrictions and economic protectionism, the market “is set for long-lasting
transformation over the coming years, one that we believe will likely lead to a
gradual erosion of Chinese dominance in processing capacity.”
November
saw the prices of all major Chinese-sourced rare earths spike, but especially
those used in magnets. In particular, the research note mentioned neodymium,
which is the most common rare earth used in making magnets, which rose by 27%
since early in November, up over 50% year to date. Several other key rare
earths also increased in value last month, including dysprosium (+17%),
gadolinium (+9%) and terbium (+27%).
Another
factor in the price surge is a new law that came into force in China on
December 1, Hamilton noted. Known as the Export Control Law, it creates new
regulations that give the government more control over such exports as
technology and rare earths.
“Market
participants are increasingly of the view that the introduction of the new law
will lead to a restriction of rare earth-based exports from China to key
partners including the U.S., on the pretext that it is safeguarding its
national security,” Hamilton stated.
Though
exports of Chinese rare earth metals have been decreasing in recent years,
Hamilton’s report pointed out that rare earth-based magnet exports have
actually been trending up because of increased global demand, including by the
U.S. In anticipation of concerns that the Chinese government could use the new
law to further curtail exports, “key customers in the U.S. (or perhaps the
State Reserve) have seemingly been buying up as much material as possible, with
U.S. rare earth magnet imports reaching 480 tonnes in September, the highest
monthly total since 2016.”
Original
Source: https://oilprice.com/Metals/Commodities/Prices-Of-Chinese-Rare-Earths-Are-Soaring.html
Recent
Company News: December 2, 2020
Defense Metals Appoints Jamie Spratt as Strategic Advisor
Defense
Metals Corp. (“Defense Metals”) (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) is
pleased to announce the appointment of Mr. Jamie Spratt as a Strategic Advisor
to the Company.
Mr.
Spratt is Principal at Walmsley Capital Inc., a focused mining corporate
finance and advisory business that he founded in 2019. Over the past 14 years,
Jamie has developed extensive mining capital markets and investment sector
experience. He has built a strong reputation as an analyst and advisor having
built deep partnerships with mining CEOs and institutional investors. Jamie was
a Partner and Equity Research Analyst at Clarus Securities Inc., a small and
mid capitalization focused boutique investment bank for 10 years, where he was
instrumental in building one of the leading mining practices in Canada.
Full news: https://ca.finance.yahoo.com/news/winners-announced-19th-annual-dgc-130000286.html
About
Defense Metals Corp. https://defensemetals.com/
Defense
Metals Corp. is a mineral exploration company focused on the acquisition of mineral
deposits containing metals and elements commonly used in the
electric power market, military, national security and the production of
“GREEN” energy technologies, such as, high strength alloys and rare earth
magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare
Wicheeda Rare Earth Element Property located near Prince George, British
Columbia, Canada. Defense Metals Corp.
trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the
United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt
Exchange under “35D”.
For further information,
please contact:
Todd
Hanas, Bluesky Corporate Communications Ltd.
Vice
President, Investor Relations
Tel:
(778) 994 8072
Email:
todd@blueskycorp.ca
Forward Looking
Information
This
news release contains “forward‐looking information
or statements” within the meaning of applicable securities laws, which may
include, without limitation, statements relating to finding partnerships,
securing potential offtake agreements, and other business opportunities, the technical,
financial and business prospects of the Company, its project and other matters.
All statements in this news release, other than statements of historical facts,
that address events or developments that the Company expects to occur, are
forward-looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results may differ materially from those in the forward-looking
statements. Such statements and information are based on numerous assumptions
regarding present and future business strategies and the environment in which
the Company will operate in the future, including the price of rare earth elements,
the ability to achieve its goals, that general business and economic conditions
will not change in a material adverse manner, that financing will be available
if and when needed and on reasonable terms. Such forward-looking information
reflects the Company’s views with respect to future events and is subject to
risks, uncertainties and assumptions, including those filed under the Company’s
profile on SEDAR at www.sedar.com. Factors that could cause actual results to
differ materially from those in forward looking statements include, but are not
limited to, continued availability of capital and financing and general
economic, market or business conditions, adverse weather conditions, failure to
maintain all necessary government permits, approvals and authorizations,
failure to maintain community acceptance (including First Nations), decrease in
the price of rare earth elements, the impact of Covid-19 or other viruses and
diseases on the Company’s ability to operate increase in costs, litigation, and
failure of counterparties to perform their contractual obligations. The Company
does not undertake to update forward‐looking statements
or forward‐looking information, except as required by
law.
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