The Anchor House, Inc.

Dudley Kingsnorth of Industrial Minerals Company of Australia (IMCOA) answered the following quetions via written response in March 2008.

Cox: Will the Japanese stockpile REE?

Kingsnorth: The Japanese have always taken the opportunity to stockpile strategic materials when the conditions are appropriate i.e. as long as the purchases do not trigger major price increases. From the trade statistics it appears that Japan has been stockpiling rare earths over the past 2-3 years.

Cox: Will the US stockpile REE?

Kingsnorth: Not that I am an American citizen, it is a question that I suggest you raise with your local Member of Congress or Senator. As you are aware over the last few years the US Government has made a conscious decision to sell down the stocks of strategic materials. However, more recently the US Department of Defense appears to be putting ‘USA made’ policies in place, which may lead to a rebirth of the REE industry in the USA.

Cox: What are the 4 most important things to know about each REE?

Kingsnorth:

• The current and future (potential) applications.
• Growth of each application.
• Propensity for substitution.
• The balance between supply and demand for that REE.

Cox: Could you name the three people who have most influenced your association with the rare earths industry?

Kingsnorth:
• Barry Kilbourne (dec’d) of Molycorp who devoted his career to promoting a better understanding of rare earths. “Cerium – A Guide to its Role in Chemical Technology” and “A Lanthanide Lanthology”, both of which are well regarded references today are testament to his dedication.
• Peter Gundy, the founder of Neo Material Technologies (formerly AMR Technologies) whose commitment to the industry and the wellbeing of the people and communities within which the company works in China has raised the general standards of the industry as a whole.
• Rob Duncan of Lynas Corporation whose dedication to the understanding of the complex orebody at Mt Weld has played a key role in its progression from exploration play to producer (in 2009).