Highlights
- American Rare Earths launches large-scale optimization program for extracting magnet-critical rare earth elements at Wyoming’s Halleck Creek project.
- Company has raised A$15 million to fund demonstration plant and in-fill drilling.
- Over 3,000 tons of ore already extracted from Cowboy State Mine.
- Project aims to reduce US dependency on Chinese rare earth supply chains and support critical technologies like electric vehicles and defense systems.
American Rare Earths (opens in a new tab) (ASX:ARR) has entered a critical new phase in developing its flagship Halleck Creek project in Wyoming. In a July 21 press release (opens in a new tab), the company announced a large-scale optimization program focused on mineral processing routes for extracting magnet-critical rare earths—notably neodymium (Nd) and praseodymium (Pr). These elements are indispensable for electric vehicles, wind turbines, and defense technologies.
The move coincides with active test mining at the Cowboy State Mine, where over 3,000 tons of ore have already been extracted—well above the 8-ton requirement for metallurgical testing. The surplus will support both the optimization effort and a future demonstration plant, designed to scale beneficiation techniques to pilot level. Located entirely on Wyoming state lands, the project benefits from a streamlined permitting process and state-level support.
In a follow-up announcement via TipRanks (opens in a new tab) ARE disclosed it had raised A$15 million (~US$10M) in institutional capital to fund construction of the demonstration plant, in-fill drilling, and engineering work. The raise, priced at A$0.32 per share, was strongly supported by both existing and new investors, underscoring market confidence in ARE’s U.S.-centered expansion. Chairman Richard Hudson emphasized the project’s strategic importance amid U.S. efforts to reduce dependency on Chinese-controlled supply chains.
Meanwhile, leadership changes reflect a pivot toward American operations. CEO Chris Gibbs has stepped down, with CFO Megan McPherson assuming oversight of Australian operations. U.S. subsidiary Wyoming Rare (USA) Inc. will remain under the leadership of Joe Evers, who continues to direct on-site development.
Despite progress, key questions remain: Can ARE successfully navigate the metallurgical complexities that often stall rare earth projects? Will the U.S. government step in with additional policy or financial support to ensure this domestic supply chain anchor advances to production?
With geopolitical tensions and trade risks mounting, Halleck Creek is being closely watched as a potential cornerstone of U.S. rare earth independence. But as always in this sector, execution—not optimism—will determine success.
Source: Proactive Investors, TipRanks, American Rare Earths Press Releases
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