17th Jan 2017 13:17
LONDON (Alliance News) - Rare Earth Minerals PLC on Tuesday said an upgraded mineral resource estimate has been published for the Yangibana neodymium project in Western Australia.
Rare Earth owns a 30% stake in the project, with the other 70% owned by Hastings Technology Metals Ltd. Neodymium is a soft, silvery metal often used in magnets.
The indicated resource estimate for Yangibana is 2.1 million tonnes of neodymium. Rare Earth noted 631,000 tonnes of this would be attributable to it, based on its stake in the project.
Rare Earth shares were up 1.6% to 0.569 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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