I am appalled by the judgment of mining analysts and managers in the rare earth space. The primitive state of the economic analysis of the rare earth supply and demand sector is indicative of poor understanding of resource economics.
Out of work construction workers are taking their heavy equipment up to the mountains and using it to reopen mines that have been abandoned since the 19th century. Mining permits in the Golden State this year have shot up.
Global heavy equipment dealer Finning International Inc. (FTT) reported record revenues in the second quarter. However it lowered its annual earnings guidance due to tough market conditions in the United Kingdom and a slow start to the year in Canada.