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Strong rare earths market fundamentals

MALILONGUE New heavy rare earths exploration project in Mozambique Exploration to commence in March/April

– Heavy rare earths command substantially higher prices than lighter rare earths

Rare earths are critical and strategic materials on the global stage
A series of 17 elements integral to the high-technology, nanotechnology, hybrid automotive, aerospace and defence industries – virtually NO substitutes
Growth in demand for hybrid batteries, advanced computer circuits, auto catalysts,
super alloys and super magnets (Green Power / Green Tech)
Principal consumers are the U.S., Japan, Korea, Western Europe and China


Global demand continues to grow robustly (10-12% growth projec ted through to 2015)