Rare Earths Prices Gain 7% This Month on Quotas, Arafura Says
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Arafura Resources Ltd., due to start producing rare earths from its Australian project in 2013, said China’s decision to slash export quotas of the metals has seen their value rise about 7 percent this month.
The Nolans Rare Earths valuation, which uses Arafura’s own materials and Metal Pages China FOB prices for rare earths oxides for its model, has risen from $70.52 a kilogram at the end of the year to $75.23 a kilogram, the Perth-based company said in a statement today.