Tuesday, September 28, 2010
Massive investment into Rare Earths
Just when you think that this sector cannot get any hotter it was announced yesterday that Chinalco will invest $1.5 billion in Jiangxi Rare Earth and Rare Metals Tungsten Group. The news report can be found at Marketwatch.com and Reuters. It is astonishing and bodes well for those ASX listed rare earth companies. Today Lynas Corporation (LYC) was slightly weaker (down $0.025 to $1.325) however Arafura Resources (ARU) was very strong with its shares up $0.125 to $1.21.