Rare Earth Technology Alliance Applauds Formation of Canadian Rare Earth Element Network (CREEN)

WASHINGTON, Oct. 31, 2013 /CNW/ - The Rare Earth Technology Alliance (RETA) today released the following statement of support on the launch of the Canadian Rare Earth Elements Network (CREEN):

"A bold approach is being taken in Canada to assure its place in the race to meet worldwide critical material demands with the new CREEN program. The program's goal of producing and securing 20 percent of the global production for separated critical rare earth products by 2018 demonstrates the critical nature of this market and its growing global impact.

The Canadian Rare Earth Elements Network (CREEN) is a new collaborative network that aims to accelerate commercial production and processing of rare earth elements (REE) in Canada. Small amounts of specialized rare earth materials are essential ingredients in sophisticated products that include aircraft, advanced automobiles, communications and electronics, clean energy production, precision machinery and robots for advanced manufacturing, medical and other imaging equipment and defense systems for surveillance, target acquisition and weapons delivery.

The network brings together mineral exploration companies, academics, commercial and government laboratories, technology developers, engineering companies, other service providers and downstream processors and manufacturers in a concerted effort to develop innovative solutions to technical, economic and commercial challenges faced by prospective REE producers and processors and to develop highly qualified personnel. Collaboration with international partners will assist CREEN in addressing the importance of REE-containing components used in advanced products.

CREEN aims to enable Canadian producers and processors to supply at least 20 percent of anticipated global demand for critical REEs within five years, enabling Canada and its trading partners to meet the likely increased demand for advanced transportation, communications, energy and other products and systems. In particular, CREEN and its members stated that they will address possible shortages of critical REEs that include Yttrium (Y), Neodymium (Nd), Europium (Eu), Terbium (Tb) and Dysprosium (Dy)."

For more information on CREEN, please visit http://www.ree-etr.ca.

ABOUT RETA

RETA represents a wide coalition of rare earth producers and processors; manufacturing companies that rely on rare earths for their products and technologies; and academic and research leaders in the rare earth sector. The group is specifically dedicated to an education and outreach mission on rare earth elements and technologies.

The members of RETA are: Arnold Magnetic Technologies; Avalon Rare Metals; Boulder Wind Power; Colorado School of Mines; Ford Motor Company; General Electric; Global Tungsten & Powders; Great Western Minerals Group; Iowa State University; Knowles Electronics; Molycorp; Montana Tech; Quest Rare Minerals; Rare Element Resources; ReNew Rare Earth; Sigma-Aldrich; Solvay (Rhodia); Worcester Polytechnic Institute, and; W.R. Grace.

CONTACT: Kathryn St. John, [phone], [email protected]

SOURCE: Rare Earth Technology Alliance (RETA)