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China Controls Rare and Essential Minerals

Update:2010-11-22 08:57:23  Source:AntimonyNet  Author:violin Return

The mineral known as Antimony, is vital to the global production of essential items, and now China wants to tighten control and limit availability to other nations. There are only a few Antimony depositories outside China and one of the largest in found in Alaska, owned by a company called Silverado Gold Mines Ltd.

Antimony is scarcely produced in America, and only a few domestic deposits are capable of production within a timeline conducive to capitalizing on China\'s stranglehold on the market. In an August 31, 2010 release Silverado quoted a U.S. Geological Survey (USGS) that shows China produced 170,000 tonnes of antimony out of a total global output of 187,000 tonnes in 2009. Talk about a monopoly.

Silverado Gold Mines Ltd. seldom speaks of their antimony reserves, as few investors understand the resource. According to Martin Hayes, chief correspondent of TheBullionDesk.com (a London metals trading company) the antimony markets advanced from $4,000 USD per tonne in early 2009 to $9,800 per tonne in July 2010. The NI 43-101 resource report from Silverado Gold Mines on Nolan Creek, which provides an insight into resources in a selected drilling section, shows significant indicated and inferred antimony and gold resources.

Global shortage of rare and essential minerals that are the main components used in the critical production of emerging technologies strengthens China\'s monopoly.

These rare and sparsely available minerals include beryllium, cobalt, fluorspar, gallium, germanium, graphite, indium, magnesium, and most notably antimony. These minerals are predominantly available and mined in China, and the Chinese are the world\'s biggest consumer of antimony, though it is also highly demanded component in the US, Europe and throughout the world.

China now plans to tighten control by only allowing state owned companies to mine these minerals, putting the Chinese government in complete ownership of these elements, furthering restrictions on export.

Now the US is thinking of taking over the issue from the European Union (EU) as it mulls options to take the case to the World Trade Organization (WTO). The U.S. Congress ordered a study of alternative sources because of the American military\'s dependence on China\'s supply of rare earth minerals.

The report furthered stated the European Union has joined the bandwagon with a report published warning of a shortage of 14 materials with 11 of them being rare materials found mostly in China. A group of experts has warned about the shortage of antimony, beryllium, cobalt, fluorspar, gallium and others. This is leading environmental ruin and chaotic development.

Several macroeconomic circumstances favor Silverado Gold Mines Ltd; namely the price of gold, which recently soared to record highs, and the emerging market for antimony with an utter lack of domestic availability. The corresponding price increases in Silverado\'s (OTCBB: SLGLF) resources increase feasibility of their mining projects. As noted in a prior editorial, Ester Dome (where Silverado also owns mining claims) has already attracted the attention of Agnico-Eagle Mines (NYSE: AEM).




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