RE: James Engdahl Interview - Financial Sense
Some simple notes from the James Engdahl Interview:
https://www.financialsense.com/financial-sense-newshour/big-picture/2011/03/19/03/b-mitchell-j-engdahl-m-katusa/nuclear-energy-part-2-tragedy-hope-reality
Interview starts at 19:25 and ends at 33:00
Jim Puplava (JP) starts by talking about the pull back from nuclear energy push (at least for the moment), which brings to front alt. energy. If you want to talk alternate energy…you’re talking rare earth.
James Engdahl (JE) talks about Wind Turbine efficiency by replacing gearbox designs with new electric magnet motors. For each new 5 megawatt turbine you need 3 tons of magnet material. 35% of 3 tons would be rare earth magnet material.
JP mentions that a lot of people have been talking about a rare earth bubble. This seems improbable when you read that China will be a rare earth importer.
JE “always believed China will be a net importer…in 2014 or 2015” China needs more mines outside of China.
Some of China's significant rare earth needs will be for wind power. China “hoarding because they need it”
Conversation then shifts to Thorium...
JE
World hasn’t taken serious look at thorium yet…
So many more benefits…only reason went with uranium is world "needed" bombs
Can’t have meltdown in thorium reactor
Much more efficient than uranium
1 ton of thorium = 200 tons of natural uranium
1 ton of thorium = 2 million tons of coal
which equals 1 gigawatt year? of power
There are several types of thorium reactors. China, India, Norway in advanced stages of research. JE believes we will see these reactors in the next five years from each of these countries.
Thorium reactors can also burn plutonium, so also can be way to dispose of waste from uranium reactors.
Talk goes to South Africa...
Rareco was a primary thorium mine with "byproduct" of rare earth in the 1960's (because no demand in the 60's)
GWG reason for buying Rareco:
1. Key mine to produce rare earth elements
2. Permit to store thorium underground. That is our plan. Will store 500 tons of thorium per year once start mining in 2013 “hopefully sooner than 2013, but that’s our target date”
(remember that 1 ton of thorium equals 2 million tons of coal)
Obviously other items in the interview I may have missed, but wanted to get this out for the community...