MONTREAL, Jan. 23, 2012 /PRNewswire/ -- Solo International, Inc. (OTC:SLIO "Solo International Inc" or "the Company"), an exploration and development mining company with a focus on deposits of rare earth metals and rare earth elements. The Company is pleased to draw attention to recent news that the Company suggests are positive for the Rare Earth Element and Metals sector.
On Jan 5th 2012, Bloomberg reported (http://www.bloomberg.com/news/2012-01-05/five-rare-earths-crucial-for-clean-energy-seen-in-short-supply.html) on the recently released Department of Energy Report Critical Materials Strategy Report, the article titled "Five Rare Earths Crucial for Clean Energy Seen In Short Supply." The DOE report indicates that five rare earths -- neodymium, dysprosium, europium, terbium and yttrium -- are under critical supply constraints in both the near-term (now until 2015) and medium-term (2015 to 2025). The report underscores the risks of continued U.S. dependency on foreign sources of metals and minerals and the adverse impact on green energy development. The Bloomberg article quoted David Sandlow, assistant secretary for policy and international affairs at the Energy Department as saying, "Diversifying the global supply chain is key." Mr. Sandlow also mentioned the demand for rare-earth materials has grown more rapidly than that for commodity metals such as steel.
On Dec 5th the International Business Times reported "China Cutting Rare Earth Production to 70% by 2015 (http://www.ibtimes.com/articles/261069/20111205/china-s-production-rare-earths-reach-70.htm) the article quoting from research firm Roskill stated much of the total output would go to Chinese manufacturers to address the demands of domestic industry, leaving only a small amount for export.
Michel Plante President of Solo International commented, "these are exciting times for the sector. I believe we have significant opportunities. Reports like the DOE Critical Minerals Strategy Report and the Roskill Rare Earths Market outlook for 2015 are both reassuring and encouraging.
Rare earth metals are strategically important and necessary for the manufacture of, for example, electronics components, motors, glass and automobiles, and as alloying materials in steelmaking.
China accounts for 97% of global production, and there may be an impending shortage.
About Solo International, Inc.
Solo International is a exploration and development mining company with a focus on deposits of rare earth metals and rare earth elements. The Company is focused on the acquisition, exploration, production, development and, as the case may be, the operation of mining properties in strategic bulk mineable industrial metals (such as REE's, Titanium and Phosphates) sectors of Quebec, Canada. All of the Company's properties are currently at the exploration stage in Quebec. Visit the Company's website at www.solointernationalinc.com
This release contains forward-looking statements that reflect Solo International, Inc. plans and expectations. In this press release and related comments by Company management, words like "expect," "anticipate," "estimate," "forecast," "objective," "plan," "goal" and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.
SOURCE Solo International, Inc.