source http://www.tickerspy.com/newswire/?p=4623
Shares of Brazilian mining giant Vale S.A. (VALE), the world’s largest iron ore producer, are up half a percent today on news that the company is seeking a foothold in the rare earths industry in an effort to help Brazil challenge China for supremacy on the global rare earths stage. China is the dominant supplier of the 17 elements used in products such as smartphones and hybrid cars with control of 95% of the rare earths export market.
Investors seem to like the idea of another non-Chinese company getting into the rare earths business as the Rare Earths Stocks Index is up 1.4%. Brazil has vast rare earths resources and has already secured a $12 billion investment from China’s Foxconn for rare earths. Foxconn makes Apple’s (AAPL) iPhone.
Brazil’s Science and Technology Minister Aloizio Mercadante said Vale’s foray into rare earths mining “would bring big benefits to Brazil” and that it would “benefit Vale as a company,” according to the Financial Times.
Quest could be a good fit for Vale. The ore could be piped to Voisey's Bay, where they are well established, for processing.
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