Highlights

• Montana Resources leads innovative project extracting rare earth elements from toxic Berkeley Pit mine waste.
• Current extraction aims for 40 tons annually, representing only 3% of U.S. defense demand, highlighting significant scaling challenges.
• Collaborative effort between industry and research institutions demonstrates potential to convert environmental liabilities into strategic assets.

In a compelling front-page feature for The New York Times, Jim Robbins delivers a deeply reported and visually arresting account of how Montana’s infamous Berkeley Pit—once an environmental catastrophe—is now emerging as a surprising source of light and heavy rare earth elements (REEs), zinc, nickel, and cobalt. Robbins deftly chronicles how a collaboration between Montana Resources (opens in a new tab), West Virginia University’s Paul Ziemkiewicz (opens in a new tab), and chemical engineers from L3 Process Development (opens in a new tab) has yielded a breakthrough: extracting rare earths from toxic acid mine drainage at scale.

The story underscores a major theme gaining momentum across the industry—“waste is the new ore,” as Peter Fiske (opens in a new tab) of the Lawrence Berkeley Lab (opens in a new tab) aptly puts it. If proven and scaled, the process could transform the U.S. rare earths landscape by unlocking domestic supply from legacy pollution, turning liabilities into defense-critical assets.

But while the Times highlights the ingenuity and urgency behind this emerging tech, it glosses over the stark reality that less than 2% of global REEs are currently recycled, and even fewer are extracted economically from waste.

The article acknowledges China’s continued market manipulation and dominance, yet stops short of pressing the bigger question: Why has the U.S. government funded only pilot-scale operations like this one while continuing to import over 80% of its REEs from China? The project at Berkeley Pit aims for just 40 tons of REEs annually—only 3% of the current U.S. defense demand. Without major investment to replicate this process at dozens of other mine waste sites, the promise of domestic independence remains a lab-bench fantasy.

Rare Earth Exchanges (REEx) supports innovation but urges U.S. policymakers and investors to face systemic issues: the West still treats rare earth security as a scientific curiosity. In contrast, Beijing treats it as a geopolitical doctrine.

Source: “A Toxic Pit Could Be a Gold Mine for Rare-Earth Elements” by Jim Robbins, The New York Times, May 13, 2025

Interested in investment trends in the rare earth space?  Check out the Rare Earth Exchanges Forum. (opens in a new tab)

Turning toxic waste into strategic metals is possible—but not at this scale.