Last week, I spent over an hour with Ed Cowle, CEO of U.S. Rare Earths, Inc., a privately-held rare earths junior mining company, and Jack Lifton, Founding Editor of The Jack Lifton Report and a consultant to U.S. Rare Earths. The discussion was prompted by an earlier post over at the RareMetalBlog Web site, concerning the company’s recent name change.
Rare earths are, of course, a critical component for the production of high performance permanent magnets. The procurement of rare earth elements for magnets and other applications is these days a hot topic, given that demand is predicted by many to outstrip supply within the next 3-5 years.
The conversation with Ed and Jack was certainly lively and we covered a range of subjects, including:
- The history of US Rare Earths and the reasons for its recent name change from Thorium Energy;
- An update on the company’s Lehmi Pass and Diamond Creek properties;
- The value of thorium as a rare metal;
- Why Jack thinks that Diamond Creek is one of the most accessible, undeveloped rare earth resources with significant heavy rare earth elements in North America;
- The value of being a US-owned company when dealing with the Department of Defense;
- The current level of understanding of rare earths in Washington;
- The critical & strategic nature of rare earths at the present time;
- The effects of the global financial crisis on the ability of junior miners to raise capital;
- A recently proposed national rare earth processing facility;
- And plenty of other stuff too.
I had a chance to take the audio of the one hour of discussions with Ed and Jack, and transcribed it into an 11-page article, now available for download from the Terra Magnetica Web site via: