TORONTO (miningweekly.com) – Canadian junior BE Resources said on Tuesday that it had confirmed beryllium as well as potential heavy rare earth element mineralisation at its Warm Springs project in New Mexico.
The company said this was based on tests for two of the 12 holes it is drilling at the property.
“We are pleased that our drilling program continues to yield positive results,” said TSX V-listed BE CEO David Tognoni.
Beryllium is a metal used as an alloy in the aerospace and defence industries.
Rare earth elements are used in magnets that go into electric vehicles and devices like iPhones and wind turbines.
China produces over 95% of the world’s supply and has been cutting back on export quotas, driving up prices as companies outside the country scramble to secure supplies.
Much of the new non-Chinese production due to come on stream produces mainly light rare earths, leading experts to predict greater supply shortfalls for the heavy elements such as europium, gadolinium, thulium and lutetium, which BE said its exploration indicates are present at the Warm Springs property.