Kyrgyzstan: Another Foreign Miner Faces Trouble, This Time in Rare Earths
Myles G. Smith Aug 1, 2012
Just in case foreign investors needed another reason to be wary of Kyrgyzstan, the country’s swashbuckling parliamentarians are again picking on a promising mining venture.
Stans Energy Corporation, a Toronto-based mining startup aiming to resuscitate Kyrgyzstan’s Soviet-era heavy rare earth metals (HRE) industry, is taking legal action after parliament recommended the annulment of the company’s licensing agreement.
Prospectors and investors have fanned out across the globe to develop new rare earths supplies following a Chinese export ban in 2010. HREs are crucial components in many electronics and high-capacity batteries, and China produces over 95 percent of world supply.
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