Paulwell’s update on Jamaica’s Rare Earth Metal Project – Patenting Red Mud Extraction as Aussies coming suggests Market rebound

“We are now patenting that formula, and the Government of Japan, the company and ourselves will share jointly in that patent"

Minister of Science, Technology, Energy and Mining Phillip Paulwell giving an update during the 2015/16 Sectoral Debate on Wednesday April 15^th 2015 in the House of Representatives about the Rare Earth Metal Project

It appears that rumours of the Death of the Rare Earth Project were greatly exaggerated.

Turns out it may still have some life left in it.

Minister  of Science, Technology, Energy and Mining Phillip Paulwell gave an update with regards to the Rare Earth Metal Project during the 2015/16 Sectoral Debate on Wednesday April 15th 2015 in the House of Representatives as stated in the article “Rare Earth Pilot Project Was Successful – Minister Paulwell”, published April 17, 2015 by Chris Patterson, The Jamaica Information Service.

Turns out the US$600 million was invested wasn't wasted as I’d explained in my blog article entitled “JBI and Rare Earth Extraction - Why Nippon Light Metals recanted and JBI Rare Earth Plant can jumpstart Electronics Industry”.

Japan’s Nippon Light Metals was able to successful extract Rare Earth Metals from the Red mud waste material found in the RDA (Residue Disposal Area) at most Bauxite companies to quote Minister Paulwell:  “Where we were able to successfully demonstrate the commercial extraction of rare earth using our bauxite residue as it has never been done anywhere in the world.”

Paulwell’s update on Jamaica’s Rare Earth Metal – Process to Extract Rare Earth Metals from Red Mud being Patented

In fact, what's currently happening now is that Jamaica is seeking to get an international Patent for the process that was jointly developed by Japan’s Nippon Light Metals and The JBI (Jamaica Bauxite Institute).

The reason the Japanese aren't interested is due to lower prices of Rare Earth Metal as explained in my blog article entitled “JBI and Rare Earth Extraction - Why Nippon Light Metals recanted and JBI Rare Earth Plant can jumpstart Electronics Industry”.

China has capitulated to the WTO (World Trade Organization) and the ensuing glut due to American and other countries re-opening their Rare Earth Mines has depressed World Rare Earth prices to the point that makes them uneconomical to extract and process, which is very costly.

According to Minister Phillip Paulwell, Rare Metals Jamaica Limited, an Australian company is here in Jamaica to try their luck at extracting Rare Earth Metals.

So with more Australians in Jamaica, namely Oz Minerals of Australia looking for Copper since May 2014 as reported in my blog article entitled “OZ Minerals of Australia prospecting for Copper in Jamaica - How to get into Mining Minerals in Jamaica and vybz Kartel's Trailer Load of Money”, does this mean a revival of Rare Earth Mining is on the horizon?

I’d reckon that's what really shaking down here...... as there’s Gold in them thar’ hills!!