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Afternoon All
I would be interested to hear the views of others as to whether people think EUA do have a specific time frame in mind for bidders to give their final offer for EUA. I am certain there will be opening bids, counter offers etc but I would expect the Board woud not want this to go on indefinately and must have some sort of cut off date in mind. Just curious as to what people think about this. As I am now semi retired, I wont live for ever and want to spend some of it before |I go lol. Many thanks.
Filbert
You never know
India have some rich business owners , Thai , Japanese , Canadian , S African etc etc
so far points to China but those ruskie bears like a fight in the woods !
Thanks Tonwin for copying the article.
Also thanks to raharh for the insight provided earlier.
I think it shows that Russia will be a willing buyer for the mined/refined REEs.
Make no mistake ferg, if China and Russia get into a full scale bidding war over what Eurasia have, it could get fairly crazy pretty fast imho.
There's also what stix is suggesting, a total blind side entity could throw a massive curve ball into the whole situation.
We're at the start of a massive revolution to cleaner energy tech, that could make a whole host of things happen, that may surprise us all tbh.
GLA
Covid 19 is a very sad state of affairs, make no mistake about that. But, how much investment has went into South Africa before now?. All the sources of that investment will be looking at other places at the minute. I don't like talking about it much, but it's currently what investors and businesses will have to do, look for their next 'cash cow'. It just so happens, there's a massive potential one here at Eurasia mining.
GLA
That magical offer could come in from a non china/russia entity complete surprise !
Let's hope so mac, that would be ideal for everyone! Only counter to this thought is if they're publicly announcing their attempt to stop China's dominance in this exact field, it might be seen as weakness if they then sell it to China... which again could mean we get a much bigger offer from within Russia backed by government funding, or they just go down the other route of just not letting foreign companies invest in this (if that's legal). The fact Citic are still involved makes it interesting.
I think Russia will use Eurasia to show themselves as being open to competitive and fair business. It is no mistake that they represented Russia at PDAC for example. Russia needs foreign investment, Eurasia can be the 'fairy tale' business example to the world tbh.
GLA
Fair point mac, do you feel that Russia would enter a bidding war then for something on their own soil? I kind of get the feeling Russia has the power to just say no you're not selling to China, and this is the money we are giving you... hopefully the FSP means things have to be done in a fair and lawful manner though because as you say it could be the fuel for a big bidding war (lets hope $1.5billion wasn't Russia's limit ;) )
It intensifies the potential competition between China and Russia imho.
Next article, China laughs at paltry sum mentioned by Russia, we will invest X amount in securing what we need for our emission targets.
The war has, realistically, already began for assets like Eurasias.
GLA
Russia plans investment of $1.5 billion in rare earth minerals, critical to the defence, telecommunications and renewable energy sectors, as it strives to become the biggest producer after China by 2030, a top government official told Reuters.
Russia’s initiative is in line with other countries, such as the United States, which are also trying to curb their reliance on China, home to 63% of global rare earths production and 37% of global reserves.
China’s dominance is so established, it is hard to weaken.
BY 2024, RUSSIA’S PRODUCTION OF RARE EARTHS CONCENTRATE MAY REACH 7,000 TONNES A YEAR
Russia has reserves of 12 million tonnes, or 10% of the global total, and its government is willing to back any foreign investment.
Alexei Besprozvannykh, Russia’s deputy industry and trade minister, said Russia is offering reduced mining taxes and cheaper loans to investors in a list of 11 projects designed to increase Russia’s share of global rare earths output to 10% by 2030 from 1.3% now.
The Russian projects will require at least $1.5 billion in investment, he said.
China will keep its market dominance, but Russia’s “goal is to be at least the second after them by 2030,” Besprozvannykh told Reuters in an interview.
So far rare earth processing is almost totally controlled by China, with the exception a plant in Malaysia, operated by Australia’s Lynas Corp, and the U.S. is reviving production.
The 11 projects, which include developing the Tomtor deposit in Russia’s far east, will allow Russia to become almost self-sufficient in rare earth elements by 2025 and start exports in 2026, the deputy minister said.
By 2024, Russia’s production of rare earths concentrate may reach 7,000 tonnes a year, he added. The U.S. Geological Survey estimated Russia’s 2019 production at 2,700 tonnes.
(By Anastasia Lyrchikova, Gleb Stolyarov and Polina Devitt; Editing by Andrew Osborn and Barbara Lewis
That would basically end any chance of this being sold to China then? But good news still in that theyre investing in to this, here is a really good place for them to put that money!
Sorry unable to link it but the title is:
Russia has $1.5bn plan to dent China’s rare earth dominance