Video News: Inner Mongolia to increase rare earths exploration

Published: Monday, 21 July 2014

Albemarle to merge with Rockwood; Syrah sale “does not make sense”; Crimea plans port expansion

On this week’s IMTV, Inner Mongolia’s government announces that exploration of rare earth oxides (REO) will increase to 59,000 tonnes in 2014, up 19% compared with the same period in 2013.

This will consolidate its leadership position in rare earths exploration and production. The region accounts for 56.7% of total production from China, and aims to produce 105,000 tonnes in 2014.

US Chemicals company Albemarle Corp. is to merge with lithium and coatings specialist, Rockwood Holdings Inc., in a move expected to create one of North America’s leading speciality chemicals firms. The joint entity will cover four business areas in lithium, bromine, catalysts and surface treatment.

Also this week, widely reported rumours that Swiss commodity trader Glencore made an informal approach to buy Australian graphite and vanadium junior Syrah Resources have been doubted by analysts, saying the deal does not make sense for the diversified major.

And finally, the Russian government confirms plans to expand the Taman dry bulk port in Crimea, which will increase mineral handling capacity, including that of potash and sulphur.