- Published on Wednesday, 30 May 2012 13:51
- Written by Small Sector
Quantum Rare Earth Developments is developing North America's highest grade, large tonnage Niobium project at the 100% owned Elk Creek, Nebraska site.
Quantum aims to be the solution for America's strategic and critical Niobium needs for the domestic steel and aviation industry. Niobium is crucial in high strength steel for bridges and buildings, oil and gas pipelines, stainless steel, MRI machines, wind turbines, jet thrusters, automobiles and more. America has imported 100% of the Niobium it uses for the past 52 years. The US considers Niobium a strategic metal and is contemplating stockpiling due to the supply concentration risk and economic importance.
Elk Creek is an advanced project as Molycorp drilled 110 holes in the geological anomaly during the 1970s and 1980s. Niobium and Rare Earth prices have increased rapidly since then and in 2010 Quantum took up where Molycorp left off. In addition to the vast Niobium deposit, Quantum has identified a high-grade Rare-Earth complex 2.5 km or 1.5 miles away from the Niobium deposit.