Rare earths
- Thread starter Peko
- Start date
Help Support Prospecting Australia:
What does REM bullion mean?
R are E arth M etal
What flavour of Rare Earth are you looking for??
What flavour of Rare Earth are you looking for??
What have rare earth metals got to do with bullion though? Despite the name, rare earths are not particularly rare at all - they occur quite widely in the earth's crust, but mostly not in mineable/processable grades:
https://en.wikipedia.org/wiki/Rare-earth_element
The Americans have got a mountain of rare earths in California (https://en.wikipedia.org/wiki/Mountain_Pass_rare_earth_mine), as we have here in Western Australia (https://en.wikipedia.org/wiki/Mount_Weld), so there's no danger of the world running out. The difficulty is in the processing/refining which is quite a complex and dirty process, which other countries were happy to relinquish to the Chinese, at least until they realised that meant China could turn off the supply tap whenever it suited them.
Rare earth metals are just specialised industrial materials and I reckon anyone trying to sell them as a form of investment bullion is just taking advantage of public ignorance, in the same way as the shonks who were selling 1 ounce copper ingots when the copper price was high.
https://en.wikipedia.org/wiki/Rare-earth_element
The Americans have got a mountain of rare earths in California (https://en.wikipedia.org/wiki/Mountain_Pass_rare_earth_mine), as we have here in Western Australia (https://en.wikipedia.org/wiki/Mount_Weld), so there's no danger of the world running out. The difficulty is in the processing/refining which is quite a complex and dirty process, which other countries were happy to relinquish to the Chinese, at least until they realised that meant China could turn off the supply tap whenever it suited them.
Rare earth metals are just specialised industrial materials and I reckon anyone trying to sell them as a form of investment bullion is just taking advantage of public ignorance, in the same way as the shonks who were selling 1 ounce copper ingots when the copper price was high.
Peko said:
Rhodium is a platinum-group metal. It has nothing to do with rare earths or rare earth metals.
Must be rare enough to be worth more than gold.
Rhodium is a silver-white metallic element that is highly reflective and resistant to corrosion. It is considered the rarest and most valuable precious metal in the world well above gold or silver. The name rhodium comes from the Greek word "rhodon," meaning rose, named for the rose-red color of its salts.
https://www.livescience.com/36988-rhodium.html
Didn't try to find the current price.
https://www.kitco.com/news/2019-08-28/Rhodium-prices-going-higher-analysts-eyeing-10-000.html
Cheers
Doug
Rhodium is a silver-white metallic element that is highly reflective and resistant to corrosion. It is considered the rarest and most valuable precious metal in the world well above gold or silver. The name rhodium comes from the Greek word "rhodon," meaning rose, named for the rose-red color of its salts.
https://www.livescience.com/36988-rhodium.html
Didn't try to find the current price.
https://www.kitco.com/news/2019-08-28/Rhodium-prices-going-higher-analysts-eyeing-10-000.html
Cheers
Doug
$5800 per oz.
Blair
Blair
Just out of interest.
Are rare earth metals something that could be bumped into while prospecting? Or a more specialized process?
Gave it a quick google but ended up confused.
Are rare earth metals something that could be bumped into while prospecting? Or a more specialized process?
Gave it a quick google but ended up confused.
It is US$2,000 per oz having crashed from $12,000 about a week ago. It sometimes drops to $600 per ounce. A dangerous metal to speculate in unless you are an expert. Nearly all from South Africa and Russia, and price is influenced a lot by politics and its market opaque. Main use vehicle catalytic convertors (80%).Peko said:
goldierocks said:
Was on the phone yesterday to a mob about it even though spot price was $2000 US an oz, bid price was $3365 Aud and sell price was $8400+ aud, they have bullion in stock at $15,276 aud an ounce,so you can even buy it at or near spot price what a joke.
It is now on its way back up at $4000 US an ounce,could have already doubled my money it you could have brought it at $2000 US
Not happy Jan
My plan was to buy as much as I could for $10,000 aud, then just sit on it for a rainy day,not going to happen now,but will still keep an eye on it to see where it goes.
You should have acted immediately then - its price can vary by 1000% in a week. Double your money would be nothing, but 10% of your money is just as likely.
Sadly for the world, there are zero primary rhodium deposits in the world. Produced as a byproduct of nickel and platinum mines, the global supply of rhodium has little ability to respond to the worlds needs with more production, he said. Rhodium is only 10% of the metal balance in the best deposits on earth so if the price goes from $1,000 to $3,000, nothing happens. Production cant simply be increased.
Most production is from South Africa (over 80%), with significant from Russia (Nor'ilsk) and a bit from North America. All from big mines, not small producers. A lot is recycled from catalytic convertors (25%) which account for 77% of demand. It is fairly much pure speculation based on short-term shortages, the amount produced cant be changed much. So if there is a shortage, production cannot be increased, and there is a brief spike in price. Things that affect it otherwise (beyond pure speculation) tend to be big events, such as when government release it for sale, the miners strike on the Bushveld, or a decline in car production (eg during the GFC). It is normally very low in price, so not a good store of wealth or inflation hedge - just a speculative commodity like pork bellies but with price less controlled by availability. I doubt car production will be high in the immediate future, and covid will probably be rampant among South African mine workers, affecting production. So I would speculate that the price will not stay up - but that is just my guess.Remember that if you find the price of a commodity high, you don't make a dollar unless you sell it - and so many people cant resist holding on thinking a commodity has yet to peak.
Sadly for the world, there are zero primary rhodium deposits in the world. Produced as a byproduct of nickel and platinum mines, the global supply of rhodium has little ability to respond to the worlds needs with more production, he said. Rhodium is only 10% of the metal balance in the best deposits on earth so if the price goes from $1,000 to $3,000, nothing happens. Production cant simply be increased.
Most production is from South Africa (over 80%), with significant from Russia (Nor'ilsk) and a bit from North America. All from big mines, not small producers. A lot is recycled from catalytic convertors (25%) which account for 77% of demand. It is fairly much pure speculation based on short-term shortages, the amount produced cant be changed much. So if there is a shortage, production cannot be increased, and there is a brief spike in price. Things that affect it otherwise (beyond pure speculation) tend to be big events, such as when government release it for sale, the miners strike on the Bushveld, or a decline in car production (eg during the GFC). It is normally very low in price, so not a good store of wealth or inflation hedge - just a speculative commodity like pork bellies but with price less controlled by availability. I doubt car production will be high in the immediate future, and covid will probably be rampant among South African mine workers, affecting production. So I would speculate that the price will not stay up - but that is just my guess.Remember that if you find the price of a commodity high, you don't make a dollar unless you sell it - and so many people cant resist holding on thinking a commodity has yet to peak.
If I was able to buy if for spot price, I would have in a second and when it went back up to around $10,000 US I would be more than happy to sell,as you say more is always better but I would be happy with that,if it took quite some time to go back up wouldnt phase me as I would give it to my kids like I will with my gold finds.
Ha - yes! I guess so many of us tend to pass things on to our kids and grandkids, and even what we get for ourselves tends to go that way. Ensuring that our genes are passed on, generation after generation.....Peko said:
Good luck with it.
