Quest Rare Minerals joins rare earth industry body

Quest Rare Minerals (TSE:QRM)(AMEX:QRM) said Tuesday that it became a new corporate member of the Rare Earth Industry and Technology Association (REITA), effective January 31, 2012.

REITA is a nonprofit corporation formed to facilitate the development and commercialization of rare earth technologies critical to the economic and national security interests of developed nations.

Quest's president and chief executive Peter J. Cashin, attending the TREM12 Critical Metals Conference in Washington, DC, said: "Quest is looking forward to working with REITA and its members to increase global awareness of the critical nature and uses of rare earth elements.

"Together with the association, we will endeavor to achieve the goals set forth by REITA to facilitate the development of new applications for REE, assist in the creation of new high quality jobs and to establish a network of global rare earth industry associations."

Rare earth elements (REE) are 17 elements critical in the development of clean energy technologies including electronics, hybrid vehicles, permanent magnets, green energy platforms and advanced technologies for national defense.

Quest's Strange Lake, B Zone deposit is located in Quebec and is one of the largest heavy rare earth resources in the world.

The mineral deposit is exposed at surface and amenable to a low-cost open pit mine with the potential to provide a long-term, stable supply of separated and refined heavy rare earths.

With its unique resource, the Strange Lake deposit has the potential to contribute to lessening of the projected supply deficit in critical rare earths out to 2021.