REE International, Inc. (REEI) Announces Acquisition of Rare Earth Property with Estimated Value of $10 Million
REE International, a U.S.-based mineral exploration company focused on the exploration and production of rare earth elements, announced yesterday after the closing bell that it has acquired a rare earth property in Port-e-Kiatuma, Guyana. REE International recently received approval to conduct business in Guyana by the Guyana Geology and Mines Commission. The property covers 44 square miles with over 200 concessions. According to initial estimates by the Guyana Geology and Mines Commission done in 2009, the initial estimates of Columbite-Tantalite believed to be in the ground exceed $10 million dollars at today's prices. Columbite-Tantalite, also known as coltan, is a…