Avalon Rare Metals Inc. (TSX & NYSE Amex: AVL) is a mineral exploration and development company focused on rare metals deposits in Canada. Its flagship project, the 100%-owned Nechalacho Deposit, Thor Lake, NWT, is emerging as one of the largest undeveloped rare earth elements resources in the world. Its exceptional enrichment in the more valuable 'heavy' rare earth elements, which are key to enabling advances in green energy technology and other growing high-tech applications, is one of the few potential sources of these critical elements outside of China, currently the source of 95% of world supply. Avalon is well funded, has no debt and its work programs are progressing steadily. Social responsibility and environmental stewardship are corporate cornerstones. Avalon's performance on community engagement in the north earned it the 2010 PDAC Environmental and Social Responsibility Award.
Avalon Rare Metals participates in BBC Radio 4 show about rare earths supply concerns
Avalon Rare Metals (TSX: AVL, OTCQX: AVARF) noted a recent BBC Radio 4 program about rare earth elements (REE) Costing the Earth, which highlighted the importance of the rare earths to green technology and the looming shortage in the market that could potentially drive up the value of rare earth mineral developers such as Avalon.
During the broadcast, the BBC’s Tom Heap interviewed Professor of Materials Science at the University of Birmingham Rex Harris, Managing Director of the Metals and Alloys division of Great Western Minerals Group David Kennedy, Avalon's President Jack Lifton and Chief Executive Don Bubar, and Animesh Jha, Professor of Applied Material Science from Leeds University.
To listen to the broadcast, CLICK HERE
Avalon's primary asset is the 100% owned, advanced development stage project, Nechalacho Rare Earth Element Deposit in Canada’s Northwest Territories. Avalon also owns four other rare metals and minerals project in Canada, of which three are at advanced stages of development.
The company has recently found a new high grade sub-zone during its winter drilling program at Nechalacho. The first steps in the permitting process for the Nechalacho REE deposit, have been initiated. On April 23, 2010, Avalon filed a detailed Project Description Report (PDR) with the Mackenzie Valley Land and Water Board (MVLWB) as the first step in its application for a Type A Land Use Permit and Type A Water License.
Back in January, Avalon said that indicated resources in the Nechalacho Basal Zone increased by 102% to 9 Mt (million tonnes) grading 1.86% TREO (total heavy earth oxides) with 23.1% HREO (heavy rare earth oxides)/TREO at the 1.60% TREO cut-off.
Exports from the world’s leading rare earths producer China, which accounts for 97% of the global supply, have been constrained via higher export levies and production quotas, while the global demand keeps rising together with the production of eco-friendly cars and gadgets. It has been projected that the annual demand could outstrip supply by 40,000 tonnes in just a few years at the current supply levels. A report from the US Government Accountability Office has said that domestic deposits in several US states are at an exploratory stage and it could take up to 15 years to rebuild a rare earth materials supply chain that was previously in place.
Shares in the company have nearly doubled over the past year, rising from C$1.15 to the current C$2.25 per share on the Toronto Stock Exchange.
