JINDALEE RESOURCES LIMITED (ASX: JRL) (Jindalee, the Company) is an Australian exploration company with Tier 1 lithium deposits in its portfolio in the United States. The Company’s core goals are to discover world-class mineral deposits and generate shareholder wealth. The United States is one of the largest marketplaces for lithium demand, and Jindalee is a leading company committed to help meet future demand. The Company is focussing efforts into developing its McDermitt lithium deposit. Jindalee Resources was listed on the Australian Securities Exchange (ASX) on 11th July 2002 and raised AUD 2.70 million. Now, it is a pure-play United States lithium company. Jindalee’s Projects: In June 2018, the Company acquired McDermitt and Clayton North, two lithium sediment projects in the United States. Both projects are 100% owned by HiTech Minerals Inc., a wholly owned, US-based subsidiary of Jindalee. Several factors attracted the Company’s interest in these projects including: Potenti...
The total global demand for rare earth oxides is expected to increase from 208,250 metric tons in 2019 to approximately 304,678 METRIC TONS by 2025. As of today, China is the world’s largest producer of RARE EARTH ELEMENTS, accounting for half of the total global rare earth mine production.
However, given the dominance and concern for restrictions on the global supply of rare earth, superpowers like the U.S. WANT TO DIVERSIFY the sources and suppliers of critical metals outside China. Moreover, the Australian Government announced AUD 500 MILLION ($360 million) in funding for rare earth stocks earlier this year to boost critical minerals’ output and to diversify supply for its allies.
It is an advancement in the Australian rare earth market and expands opportunities for rare earth companies.
What are Rare Earth Elements?
The Rare Earth Elements (REEs) are 17 elements on the periodic table that include Fifteen lanthanides (La–Lu): Lanthanum (La), Cerium (Ce), Praseodymium (Pr), Neodymium (Nd), Promethium (Pm), Samarium (Sm), Europium (Eu), Gadolinium (Gd), Terbium (Tb), Dysprosium (Dy), Holmium (Ho), Erbium (Er), Thulium (Tm), Ytterbium (Yb), Lutetium (Lu), one Scandium (Sc), and one Yttrium (Y).
Rare earth elements, also known as Rare Earth Oxides (REOs), are soft, malleable, and react at elevated temperatures or when divided. Some REEs have unique magnetic, luminescent, and electrical properties, which is why they are used in various applications.
Today, REEs are used in high-tech devices, such as smartphones, digital cameras, computer hard disks and monitors, fluorescent and LED lights, flat-screen televisions, etc. Larger quantities of REEs are used in clean or renewable energy technologies like photovoltaic (PV) cells, Electric Vehicles (EV), and defence technologies.
Australia, being already the fourth-largest producer of rare earth, now has the possibility of scaling up the industry. Investors can spot more opportunities and expect higher-than-expected positive outcomes from rare earth stocks (metal) in Australia.
Also Read: TOP 6 SPOTS FOR LITHIUM MINING IN AUSTRALIA
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