.......well...UCOR just got gov't backing......

are we going to be even "faster tracked"?

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FP/wire say Ucor, Matamec look to break China monopoly

2012-11-08 09:50 ET - In the News

See In the News (C-UCU) Ucore Rare Metals Inc

The Financial Post reports in its Thursday edition the Pentagon and Toyota are trying to crack China's global monopoly on mining the most valuable rare earths. A Bloomberg dispatch to the Post says the U.S. Department of Defense and Asia's biggest carmaker are working with Canada's Ucore Rare Metals and Matamec Explorations, which are developing North American mines that would boost supplies of so-called heavy rare earths. Those are the less-abundant members of a group of 17 chemically similar elements critical to make a host of products from wind turbines to high-performance magnets for cars and weapons. China slashed exports in 2010, partly to conserve material for its own industries. The Asian nation today supplies about 95 per cent of global demand, triple its market share of 1990, presenting a risk for foreign makers of the next generation of wind turbines and environmentally friendly lighting technology. "People won't make a decision on manufacturing something if they don't know their supply is reliable," said Jack Lifton at the Analysis of Global Security. There are risks in early-stage mining projects like those planned by Matamec and Ucore. Development requires raising hundreds of millions of dollars of financing

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