Issue link: http://resourceworld.uberflip.com/i/229125
turned back on at some point over the next two or three years. In, addition, both China and Russia have extensive plans to build more reactors. Even the United Arab Emirates (UAE) has plans to build nuclear reactors. This is an interesting signal. "As one of the most oil-rich countries in the world, it (UAE) could probably power itself with oil, yet it is looking to diversify into nuclear power," said Chang. "I think that's a fantastic sign." www.NMLiron.com TSX : NML OTCQX : NWLNF New Supply and Continuing Development DSO: A joint venture with Taconite: KéMag and LabMag deposits Resources: A huge iron ore district controlled by NML 8 www.resourceworld.com RW December 2013.indd 8 RARE EARTHS & RARE METALS JP Morgan expects the general rare earth element market to remain oversupplied; however, it believes there will be a deficit in certain elements like neodymium (Nd) and praseodymium (Pr). These elements are used in the manufacture of high strength magnets for applications such as wind turbines and generators in automobiles. Neodymium is also used in speakers. The report also suggests there will be increased demand in lanthanum, which is used primarily in fluid cracking catalysts. This demand imbalance arises due to the fact that consumption levels of each element do not match the distribution of elements in the producing mines. China represents 90% of global supply and increasing export restrictions will likely mean there will be limited supply growth from the region. The majority of new production will be sourced from Lynas' Mount Weld and Molycorp's Mountain Pass Project. JP Morgan estimates aggregate rare earth supply growth of 4% to 173,000 tonnes in 2020. Light rare earth basket prices are expected to increase from US $16/kg currently to US $18/kg in 2014 and up to US $27/kg by 2016. COAL New supply of thermal and coking coal (supply growth of 3% to 4%) is expected to continue to hit the market in 2014, but despite this, analysts expect that coking coal prices to rise 10% versus a 1% to 3% rise for thermal coal. These projections for met coal's outperformance are being fueled by expectations of DECEMBER/JANUARY 2014 12/11/2013 6:11 PM