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Gold/Mining/Energy : MP Systems Corp. (formerly Molycorp)

MCP 30,550

-6.9%

Nov 5 4:00 PM EST

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From: canucklehead80	4/5/2012 3:12:34 PM
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Home Continent Advantage Quantum’s Nebraska Niobium Resource Project Will Reduce Foreign Dependence By Ted Niles That the US imports 100% of its niobium—indeed, that 85% of the world’s niobium is produced by just one Brazilian company—doesn’t inspire panic in the average person. While familiarity with the metal and its uses is not widespread, the US National Academy of Sciences has deemed it a “critical” metal, and the absence of a domestic producer troubles Washington. Particularly as worldwide demand is predicted to outstrip supply by 2018. Enter Quantum Rare Earth Developments TSXV:QRE, whose Elk Creek Project in Nebraska boasts America’s only NI 43-101-compliant niobium resource. The 3,802-hectare property was acquired in 2010 by Quantum, which was quick to take advantage of the work carried out by Molycorp in the 1970s and 1980s. “They did over 150,000 feet of drilling,” reports Quantum President/CEO Peter Dickie. “Molycorp walked away from a lot of their exploration projects as they put their Mountain Pass Mine into production, and this was one of them.” Read more about Molycorp's Niobium resource.

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