For the seventh quarter in a row, sales of rare earth elements have steadily increased, reports Eastern Field International Ltd.
May 9, 2014 (Newswire) - Global production of technological goods utilizing rare earth elements has rapidly grown in step with economic growth. Demand is expected to remain strong for the next decade, increasing the need to find new sources of the unique ores.
While the companies processing facilities are continually upgraded and expanded, the company is also building partnerships and surveying potential mining sites. In the first quarter of 2014 alone prospective leases were places on eleven such sites to allow further testing. It is projected that production will have to double within four years to keep up with demand.
Eastern Field International Ltd. is a company focused on rare earth elements exploration by way of identification and discovery of new rare earths sources and opportunities that can provide long term supply and with the potential for full development of world-class facilities for separation and delivery. The Company has several rare earth projects in multiple locations, the operations of which are enhanced by close relationships with a number of top tier companies in the industry who have the capability of separating the full spectrum of rare earth elements.
This item may contain forward-looking statements, as defined by securities laws, including statements regarding financial outlooks and market environments. Any such statements are based on present expectations and involve a number of risks and uncertainties. Important factors, including those mentioned in this announcement, that could cause real results to differ materially are set forth in the company's annual report and subsequent statutory filings. They include risks and uncertainties relating to the pace at which the company adds manufacturing capacity and new capital sources, the value of global and regional financial markets, and the dynamics of the markets the company serves.
Eastern Field International Ltd. encourages investors to consult with an investment professional and review filings in conjunction with this publication and prior to making any investment decisions. The forward-looking statements contained in this announcement speak only as of the date of its release; the company does not undertake to revise these forward-looking statements to reflect events after the date of this release.