North American Rare Earth Suppliers - Vital for Future Global Needs
February 27 2015 - 10:15AM
InvestorsHub NewsWire
SAN DIEGO, CA -- February 27, 2015 -- SourcingLink.net, Inc.
(PINKSHEETS:SNET)
“We believe the rare earth metal (REM) industry is poised for a
turnaround. Initially, we went into the area because of the
recorded radiation readings by the Canadian Government.
Our first exploration resulted in more findings than we had
expected. We are excited for these early results.” said Chuck
Wagner, president of SourcingLink.net
According to the January 7th Reuters article, China supplies 90%
of the world’s REM supplies. There are only two companies outside
of China that currently produce rare earth metals. When China
restricted exports in 2010, REM’s reached an all-time high.
We feel a large reason these metals are currently low is that
industrial nations are drawing down on their own stock piles. When
these stockpiles are depleted, countries will need additional
resources to supply these metals which SNET is
working towards being a supplier.
“Beijing is expected to unveil new regulations for rare earth
mining, processing and exports, perhaps including a value-added tax
to replace the export tariff” Reuters, January 7, 2015.
In our opinion, this translates to a higher price being paid by
consumers.
What are rare earth elements? Rare earth elements
basically consist of 17 seldom found elements that are present in
the periodic table. Out of these 17 rare elements, 15 come under
Lanthanide series. These 15 Lanthanides and 2 other elements:
Scandium and Yttrium are together known as rare earth elements.-
www.matamec.com
What are the uses of rare earth? Rare earth elements have
several industrial uses worldwide. They are primarily used in the
electronic and electrical fields. Most of the rare earth elements
mentioned above, along with their alloys, are being used in various
electronic devices such as rechargeable batteries, computer memory,
cell phones, DVDs, magnets, car catalytic converters, fluorescent
lighting, and several other instruments.
Today, the worldwide demand for the mentioned electronic devices
and instruments has quadrupled. To fulfill this ever-increasing
global demand, it is essential to have more supply of rare earth
metals. - www.matamec.com
About The Eldor Project:
SourcingLink.net, Inc. signed an agreement to acquire 100%
interest in the Eldor Rare Earth Property Claims (The Eldor
Project) located in Northern Quebec, Canada (one of the most
favorable mining jurisdictions in the world). The Eldor Project
consists of 334 mineral claims covering approximately 3951 acres
and is located in Northern Quebec which is considered one of the
most favorable mining jurisdictions in the world.
About SourcingLink.net, Inc.:
SourcingLink.net is a U.S. based publicly traded exploration and
development company. Their focus in on rare metals and rare earth
elements which are among the primary input materials for the
21st Century technology.
Forward-looking Statements
This release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements, which contain words such as "expect,"
"believe" or "plan," by their nature address matters that are, to
different degrees, uncertain. These uncertainties may cause actual
future events to be materially different than those expressed in
our forward-looking statements. We do not undertake to update our
forward-looking statements.
Contact:
SourcingLink.net
12526 High Bluff Dr., Suite 300, San Diego, CA 92130
Telephone: 858-792-3620
Website: www.sourcinglink.org
Email:info@sourcinglink.org