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Molycorp and Great Western Minerals Take Steps to End China-s Rare Earth Monopoly

NEW YORK, NY — (Marketwire) — 07/26/11 — Soaring rare earth prices have been a major headache for hard disk drive manufacturers, but a blessing for explorers of the seventeen lanthanides. While Chinese officials deny manipulating rare earth prices, companies from North America are stepping up operations to reduce China-s rare earth monopoly. The Bedford Report examines the Rare Earth Elements Industry and provides stock research on Molycorp, Inc. (NYSE: MCP) and Great Western Minerals Group (TSX-V: GWG) (PINKSHEETS: GWMGF). Access to the full company reports can be found at:

China-s Ministry of Industry and Information Technology (MIIT) claims that the allegations of manipulating prices of rare earth metals are a misunderstanding and argue that prices are justified considering the huge environmental impact over it. Last year China announced a five-month crackdown on illegal mining in order to protect the environment and its resources. This campaign was concentrated in the south where mines are commonly small, rural, and illegal operations particularly prone to release toxic wastes into the general water supply.

The Bedford Report releases regular market updates on the industrial metals sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Environmental concerns (as well as significantly lower rare earth prices) prompted the closure of the California-based Mountain Pass mine in 2002. With rare earth prices skyrocketing, Molycorp — who purchased the mine from Chevron in 2008 — has revived the mine. Molycorp-s Mountain Pass mine produces about 3 percent of the world-s rare earths from stockpiled concentrate, but the company plans to eventually turn out a quarter of the total supply.

Great Western Minerals Group is an integrated Rare Earths processor whose specialty alloys are used in the battery, magnet and aerospace industries. Earlier this month the company completed the acquisition of 100% of the shares of Rare Earth Extraction Co.

The Bedford Report provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at .

The Bedford Report

Posted by on 26. July 2011. Filed under Electronic Components, Picture Gallery. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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