Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Avalon Rare Metals Tumbles on Project Delay: Toronto Mover

Avalon Rare Metals Inc., the company developing a rare-earth deposit in Canada’s Northwest Territory, fell after delaying the target date for its first production.

Avalon dropped 23 percent to C$1.67 at the close in Toronto after announcing its first production may be in “late 2016.” Avalon needs more time to complete metallurgical test work, the Toronto-based company said in a statement yesterday after the close of regular trading on North American markets.

“They are delaying their project for the second time because of the metallurgy, so people are starting to think there are real problems there,” said Luisa Moreno, an analyst at Jacob Securities Inc. in Toronto. “Avalon is being punished in a way for being the first. Because they are the advanced one, they are having all the problems.”

Rare earths are 17 chemically similar metallic elements used in batteries, mobile phones and computer hard drives. China produces more than 90 percent of the world’s rare-earth supply.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.