“China supplies 85% of the rare earths to the world. The world is nervous not only because China has control on supply but also, let’s take coronavirus as an example, if work stops in China then what happens to the supply.” States Tom Drivas, CEO, President and Director of Appia Energy Corp. (CSE: API | OTCQB: APAAF), in an interview with InvestorIntel’s Peter Clausi at PDAC 2020.
Tom went on to say that the US, Canada, Australia, and other countries want to see some supply outside of China but there are only a few projects that can compete with the Chinese. Tom also spoke on Appia’s Alces Lake property which has uranium and rare earths. Tom said it is one of the best projects in North America in terms of high grade critical rare earths. The company is drilling at the property and has got some zones right on the surface with grades upto 49% rare earths.
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