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American Rare Earths (OTCQX: AMRRY) is a critical minerals company at the forefront of reshaping the U.S. rare earths industry. Through its wholly owned subsidiary, Wyoming Rare (USA) Inc., the company is advancing the Halleck Creek Project in Wyoming, one of the largest rare earth deposits in North America. Rare earth elements (REEs) are essential for the production of advanced technologies, including electric vehicles, renewable energy systems, and defense applications, making American Rare Earths a pivotal player in securing U.S. critical mineral independence.
Core Business and Operations
The Halleck Creek Project, located on mining-friendly Wyoming State land, represents a world-class rare earth resource with a JORC-compliant estimate of 2.63 billion tonnes. The project is designed for cost-efficient open-pit mining and includes plans for onsite mineral processing and separation facilities. By leveraging these capabilities, American Rare Earths aims to reduce U.S. reliance on imported rare earth elements, primarily from China, while meeting the growing demand for these materials across various industries.
Strategic Importance and Market Position
American Rare Earths is uniquely positioned to align with U.S. national priorities for critical mineral independence. The company’s operations support economic growth and supply chain security by providing a domestic source of rare earth elements. The Halleck Creek Project’s scalable, low-cost mining methods and its location on State and Federal lands further enhance its strategic significance. Additionally, the company collaborates with U.S. Government-supported R&D programs to develop innovative extraction and processing technologies, reinforcing its commitment to environmentally responsible mining practices.
Competitive Landscape and Differentiation
In an industry dominated by Chinese suppliers, American Rare Earths differentiates itself through its U.S.-based operations, streamlined permitting processes, and focus on sustainability. The company’s strategic engagement with stakeholders, including the State of Wyoming and federal agencies, strengthens its position as a reliable and ethical supplier of rare earth elements. This approach not only mitigates geopolitical risks but also aligns with growing consumer and governmental demand for sustainable and transparent supply chains.
Environmental Responsibility
American Rare Earths is committed to minimizing the environmental impact of its operations. The company employs innovative technologies and collaborates with research institutions to develop more sustainable methods for extracting and processing rare earth elements. These efforts underscore its dedication to balancing economic growth with environmental stewardship.
Future Outlook
As exploration and development progress, the Halleck Creek Project holds the potential to become a multi-generational resource. Its untapped reserves on both State and Federal lands offer significant opportunities for expansion, positioning American Rare Earths as a cornerstone of U.S. critical mineral independence. By addressing the growing demand for rare earth elements in defense, renewable energy, and advanced technologies, the company is poised to play a transformative role in the global economy.
American Rare Earths (ARRNF) has announced results from its Updated Halleck Creek Scoping Study, revealing strong economic potential for its rare earths project in Wyoming. The study presents two development scenarios:
The 3 Mtpa base case shows:
- NPV10% of US$558M with 24% IRR
- CAPEX of US$456M with 2.7-year payback
- Annual production of 4,169 metric tons TREO, including 1,833 tons NdPr oxide
The 6 Mtpa case demonstrates:
- NPV10% of US$1.17B with 28.4% IRR
- CAPEX of US$737M with 1.8-year payback
- Annual production of 7,661 metric tons TREO, including 3,344 tons NdPr oxide
The project benefits from state land tenure for accelerated permitting and covers only 16% of the total project area, with significant expansion potential. First production could begin by 2029.
American Rare Earths (ARRNF) has achieved a significant metallurgical milestone at its Halleck Creek Rare Earths Project in Wyoming. Large-scale testing has successfully demonstrated a 10:1 upgrade in rare earth concentration, increasing from 3,438 ppm (0.34%) TREO to 37,200 ppm (3.72%) TREO using conventional, low-cost methods.
The test work, conducted with Mineral Technologies on a 1.9-tonne sample, utilized MG12 Spirals and Induced Roll Magnetic Separation (IRMS) technology. The process effectively removes 93.5% of non-rare earth material early in processing, meaning only 6.5% of mined ore requires further refining, potentially reducing operating costs significantly.
The initial TREO recovery rate was 62%, below the 78% outlined in the Scoping Study. However, optimization work is ongoing to enhance recoveries while maintaining the 10X upgrade factor. These results validate key assumptions in the Scoping Study and will support the upcoming Pre-Feasibility Study (PFS).
American Rare Earths (ARRNF) announced a significant update to its Halleck Creek Rare Earth Project in Wyoming. The total mineral resource estimate increased by 12.2% to 2.63 billion tonnes at 3,926 ppm Total Rare Earth Oxides (TREO). The Red Mountain Area saw a 29.7% growth in resources to 1.24 billion tonnes, with an 8.3% grade increase to 3,252 ppm TREO.
The Cowboy State Mine, representing the first phase of development, expanded by 29.4% to 543 million tonnes, with a 2.7% increase in TREO grade to 3,438 ppm. The deposit remains open at depth and along strike, with the current estimate covering only 16% of the project area. The company plans to release an updated Scoping Study in February 2025, followed by a Pre-Feasibility Study later in the year.
American Rare Earths (ARRNF) has been recognized in the 2025 OTCQX® Best 50, ranking as the third most traded company among top performers on the OTCQX Best Market in 2024. The ranking is based on one-year total return and average daily dollar volume growth during the previous calendar year.
The company's Halleck Creek Project, containing 2.34 billion tonnes of TREO under JORC standards, is positioned as a key component of the U.S. rare earths supply chain. The project aims to reduce American dependence on foreign imports while supporting clean energy and defense technologies.
The OTCQX Best Market recognition highlights companies meeting high financial standards, following best practice corporate governance, and maintaining securities law compliance.
American Rare Earths (ARRNF) has announced that its subsidiary Wyoming Rare (USA) has been granted a License to Explore by Dozing at the Halleck Creek Rare Earths Project in Wyoming. The license enables test mining, trenching, and exploratory excavation, including bulk material sample collection at the Cowboy State Mine project area.
The bulk sampling authorization represents a important step for the company, as it will provide feedstock for future pilot plant testing at their recently acquired Laramie facility. This development will enable ARR to refine processing techniques and optimize project design, advancing toward commercial development.
CEO Chris Gibbs emphasized that this approval demonstrates their strong relationship with Wyoming state authorities and marks a significant step in developing the project while maintaining high environmental and community standards. The company will continue pilot plant testing, metallurgical analysis, and process optimization as part of their development strategy.
American Rare Earths (ARRNF) has announced that its subsidiary, Wyoming Rare (USA), has secured a facility at the Western Research Institute in Laramie, Wyoming. This development follows a recent $7.1 million grant from the State of Wyoming for rare earth processing initiatives.
The facility will serve multiple purposes, including housing drill core and assay samples, and accommodating the construction of a pilot plant for processing capabilities. The Western Research Institute, a not-for-profit research organization, specializes in advanced energy systems, environmental technologies, and materials research.
This strategic partnership aims to advance the Halleck Creek Rare Earths Project and strengthen Wyoming's position in critical minerals development while supporting the company's mission to onshore critical mineral supply chains for the USA.
American Rare Earths (ARRNF) has announced final assay results from its 2024 drilling campaign at the Cowboy State Mine area within the Halleck Creek Project, Wyoming. The results revealed the highest-grade Total Rare Earth Oxide (TREO) intersections recorded at the site, with significant intervals including: 148.0m @ 4,451 ppm TREO, 161.5m @ 4,275 ppm TREO, and 90.0m @ 4,353 ppm TREO. Multiple high-grade intersections exceeded 5,000 ppm TREO. The company plans to complete an updated resource estimate and Pre-Feasibility Study (PFS) for Halleck Creek in 2025.
American Rare Earths (ARRNF) has engaged BMO Capital Markets as its financial adviser to accelerate the development of the Halleck Creek Project in Wyoming. BMO will explore strategic investments, joint ventures, mergers and acquisitions, and offtake agreements. This follows the establishment of Wyoming Rare USA Inc. as a dedicated U.S. subsidiary. The project, recognized as one of North America's largest rare earth deposits, has received support from Wyoming Energy Authority and a Letter of Interest from the U.S. Export-Import Bank. The engagement aims to position Halleck Creek as a cornerstone of the U.S. critical minerals supply chain, capitalizing on growing U.S. support for domestic critical minerals production.
American Rare Earths (ARRNF) announces the appointment of board member Melissa Sanderson as Co-Chair of the Critical Minerals Institute (CMI). With extensive experience in diplomacy and private sector leadership, Sanderson's appointment strengthens ARR's position in developing North American rare earth elements supply chains. Her role at CMI will enhance the company's influence in critical minerals advocacy and policy-making. The appointment follows her successful efforts in securing a Letter of Interest from the Export-Import Bank of the United States for ARR's development projects. The company operates the Halleck Creek Project in Wyoming and La Paz deposit in Arizona, potentially becoming North America's largest rare earth projects.
American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) has received its first reimbursement of over US$304,000 (A$450,000) from the Wyoming Energy Authority (WEA) grant. This marks significant progress in developing the Cowboy State Mine at Halleck Creek. The reimbursement follows the approval of a US$7.1 million (A$10.7 million) non-dilutive funding grant on June 27, 2024. Funds will support ongoing initiatives including exploration drilling, baseline environmental studies, and prefeasibility assessments.
CEO Chris Gibbs stated that this reimbursement is important for executing their plans and de-risking the Cowboy State Mine, aiding in achieving their 2025 goals. The company owns Wyoming Rare (USA) Inc., focused on the Halleck Creek Project, WY, and the La Paz, AZ rare earth deposit. Both projects have the potential to become the largest and most sustainable rare earth projects in North America.
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