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
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
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.
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