Rare Element Resources Receives Draft EIS From US Forest Service

Rare Element Resources hits key permitting milestone (NYSE MKT:REE) hit a key permitting milestone on Tuesday with the receipt of a draft environmental impact statement (EIS) for its Bear Lodge rare earth project in Wyoming.
As quoted in the press release:

The draft EIS is a key milestone in the permitting process for the project, as it defines the potential operating conditions and identifies the environmental impacts of the project.  The draft EIS seeks to balance the interests of various stakeholders in the federal lands on which the world-class rare earth deposit is located and set the bounds for a mineral resource project that can operate economically, while adhering to the highest environmental standards.  Public meetings and a 45-day comment period follow the publication of the Notice in the Federal Register, which occurred on January 15, 2016.

Rare Element Resources CEO, Randy Scott, said:

The draft EIS is the culmination of a great deal of hard work by our company; the third party contractor, Tetra Tech; and the USFS, who oversees our permitting process under the National Environmental Protection Act (NEPA). It is a major milestone in the project’s development and once again signals how far we have been able to advance the Bear Lodge Project.  Our team has done an outstanding job with over five years of data collection and studies leading up to the draft’s release by the USFS.  Once the comment period is concluded, we will further evaluate the EIS and permitting timeline.

Click here for the full press release.