TORONTO (miningweekly.com) – Technology Metals Research founding principal Jack Lifton said on Friday the “800-pound gorilla” in the room for rare-earths juniors was the uranium- and thorium-bearing waste their mines would produce.
“This problem is universal,” he said, adding that the production of radioactive thorium could be an asset, as nuclear fuel using this element is difficult to convert into nuclear weapons.
“It is necessary to decide what weight to give to the problems arising from the necessity to obtain a legal permit to dispose of or store radioactive waste in the country involved,” said Lifton.
“If a rare-earth mining/refining operation can produce uranium at below market cost, then it will be able to sell such production immediately into the world market.”
Rare-earth elements are used to make magnets in wind turbines, hybrid cars and electronic devices.
China accounts for 97% of the world's supply, but has been agressively cutting export quotas.
This has caused alarm among Western governments, as well as consumers like Japan and Korea, and has led to a raft of junior companies seeking to build rare-earth mines in coutries such as the US, Canada and South Africa.
Edited by: Creamer Media Reporter
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