Avalon Rare Metals Inc. (TSE:AVL) Joins the Rare Earth Industry and Technology Association
Toronto, Oct 26, 2011 AEST (ABN Newswire) - Avalon Rare Metals Inc. (
TSE:AVL) (PINK:AVARF) is pleased to confirm that the Company has joined the Rare Earth Industry and Technology Association ("REITA") as a Rare Earth Supplier Member. REITA is a non-profit corporation based in Greenwood Village, Colorado, formed to facilitate the development and commercialization of rare earth technologies. REITA's vision is to be the premier association of industry, government and academic partners meeting the global need for rare earth materials and products.
Avalon is looking forward to working with REITA members on issues of common concern and to achieve goals such as increasing public awareness and education of supply chain issues, creating high quality jobs, helping to facilitate the development of new technologies and markets, and supporting other global initiatives critical to the growth of the rare earth industry.
For your information, following is the news release issued on October 24, 2011 by Keith Delaney, REITA's Executive Director:
Ford and Avalon Rare Metals Latest to Join Rare Earth Trade Group
Greenwood Village, CO (October 24, 2011) -- The Rare Earth Industry and Technology Association (REITA) announced today the group's newest members who will join REITA's other prominent industry and academic organizations in addressing global supply chain issues for rare earth products. The new REITA members are Ford Motor Company (NYSE:F) and Avalon Rare Metals Inc. of Toronto.
Rare earth elements have applications throughout the motor vehicle industry from windshields to catalytic converters. Of particular importance are rare earth permanent magnets which are used for powering many of the hybrid and other advanced electric vehicles being offered today.
Avalon is a Canadian-based mineral development company focused on the rare metals. Its flagship advanced heavy rare earth project at Thor Lake, Northwest Territories, Canada, will have a bankable feasibility study completed during 2012. Avalon is planning to produce separated heavy and light rare earth oxides, as well as niobium, zirconium and tantalum by-products by late 2015.
"Ford and Avalon typify the breadth of critical Clean Energy supply chains that REITA members represent" said Keith Delaney, REITA's Executive Director. "From rare earth resource companies and processors - downstream to the Original Equipment Manufacturers of advanced auto, lighting and renewable energy applications - we are working to create internationally competitive and diverse supply chains for rare earth products for Clean Energy".
About Avalon Advanced Materials Inc
Avalon Advanced Materials Inc. (TSE:AVL) (OTCMKTS:AVLNF) (formerly Avalon Rare Metals) is a Canadian mineral development company specializing in niche market metals and minerals with growing demand in new technology. The Company has three advanced stage projects, all 100%-owned, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, niobium, and zirconium. Avalon is currently focusing on its Separation Rapids Lithium Project, Kenora, ON and its East Kemptville Tin-Indium Project, Yarmouth, NS. Social responsibility and environmental stewardship are corporate cornerstones.
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