Reuters quoted Avalon Rare Metals as saying in defense of its USD 1 billion price tag for a mine and related plants that the value in rare earths is in separating oxides and selling the product, rather than in mining itself.

Mr Don Bubar CEO of Avalon said that the company planned to produce separated rare earths by 2016. He noted the possibility of someone buying up the company but said a buyer would probably want production capabilities lined up first.

(Sourced from Reuters)