Network Metals LLC

It is worth following up on rare earth metals again, and the continuing Chinese consolidation of most of the world’s rare earth metals reserves. We spoke at length about 95% of global rare earths production taking place in China, and that the Chinese were moving into North America to take advantage of much of the untapped reserves in Canada, among other places. But the Chinese are also moving to control most of Australia’s rare earth reserves as well. Lynas Corp (ASX:LYC) and Arafura Mining (ASX:ARU) were both looking for funding earlier last year (Goldman Sachs (NYSE:GS) pulled out of a potential financing of Lynas), and were consequently scooped up by state-owned Chinese metals and mining entities. Today China Nonferrous Mining Company took a majority stake in Lynas with $186 million, and took further steps toward consolidating the world supply of rare earth metals.