
January 28, 2025
Wyoming Rare Earth Project Positioned to Meet U.S. Critical Mineral Needs
American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) ("ARR" or "the Company") and its wholly owned subsidiary Wyoming Rare (USA) Inc. ("WRI") are pleased to announce a major milestone resource update for the Halleck Creek Rare Earth Project in Wyoming. The updated JORC-compliant Mineral Resource Estimates (MRE) further establish Halleck Creek as one of the largest rare earth deposits in North America and underscore ARR’s continued progress in unlocking its potential as a strategic U.S. asset.
Highlights
- Halleck Creek Total Mineral Resource Estimate increased by 12.2% to 2.63 billion tonnes at 3,926 ppm Total Rare Earth Oxides (TREO).
- Red Mountain Area within Halleck Creek saw a 29.7% growth in resources, increasing to 1.24 billion tonnes, with an 8.3% uplift in grade to 3,252 ppm TREO.
- Cowboy State Mine, representing the first phase of project development within Red Mountain, grew 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, offering significant upside potential, with the mineral resource estimate covering approximately 16% of the greater Halleck Creek project surface area.
The Halleck Creek resource now exceeds 2.63 billion tonnes, representing a significant 12.2% increase over the previous estimate. This growth highlights the transformational scalability of the project, which remains open at depth and along strike.
The Cowboy State Mine, located within the Red Mountain area, continues to deliver robust resource growth and remains central to ARR’s development strategy. Its location on Wyoming State land provides a streamlined permitting process, accelerating ARR’s ability to unlock the project’s full value. The project’s favorable geology and near-surface mineralization support the potential for a low-cost open-pit mining operation, while ongoing metallurgical test work continues to demonstrate the potential for efficient processing of rare earths. These results reinforce ARR’s ability to support the U.S. government’s efforts to secure domestic critical mineral independence, reducing reliance on imports and supporting economic growth and national security objectives.
Chris Gibbs, CEO of American Rare Earths, commented:
"This resource update demonstrates the continued growth, scale, and strategic importance of Halleck Creek as a cornerstone project for the U.S. rare earth supply chain. With the deposit still open at depth, and along strike, the upside potential is truly remarkable. With the Halleck Creek mineral resource estimate covering approximately 16% of the greater Halleck Creek project surface area, we believe opportunities exist to expand mineral resource estimates with additional exploration."
“The expanded resources will strengthen the project's economics as we finalise the updated Scoping Study, which is set for release shortly, and continue integrating this data into the Pre-Feasibility Study, scheduled for completion later this year. Halleck Creek is positioned to become one of the most significant rare earth assets in North America, supporting U.S. critical mineral independence and economic growth.”
Next Steps and Path Forward
The updated resource model and mine plans will have a positive impact on Halleck Creek’s project economics, further enhancing its strategic importance. ARR is currently integrating the updated resource and high-grade data into the Scoping Study, which was originally released in March 2024. The updated study is nearing completion and will be released in February 2025.
In parallel, ongoing metallurgical test work continues to deliver promising results, highlighting the potential for cost- efficient processing at Halleck Creek. As outlined in the 2024 Scoping Study, approximately 90% of the gangue (waste) material can be removed during gravity and magnetic separation, significantly increasing REE grades through physical separation methods prior to leaching, which significantly reduces operational costs. Optimisation of these processing techniques is ongoing, and further results will be announced as the next round of metallurgical testing is completed in the March 2025 quarter.
In addition, the updated resource estimates will be incorporated into the ongoing Pre-Feasibility Study (PFS), which remains on track for completion later this year. The PFS will provide a more detailed evaluation of Halleck Creek’s technical and economic potential, supporting ARR’s phased approach to development and commercial production.
Technical Summary
Summary of Key Material Information used to Estimate the Mineral Resources
The updates to the geological models and Mineral Resource Estimates (MRE) were completed by Odessa Resources Pty. Ltd. on behalf of ARR. The updated MRE has been prepared in accordance with the 2012 JORC Code.
The results from the 2024 exploration drilling program at the Cowboy State Mine (CSM) area of Red Mountain, combined with additional surface sampling and geological mapping at Halleck Creek, have increased the in-situ resource estimates to 2.63 billion tonnes at an average grade of 3,292 ppm TREO (Table 1). This represents a 12.2% increase in in-situ tonnage compared to the January 2024 resource estimate for the entire Halleck Creek Rare Earth Project (Figure 4).
Table 1 – Mineral Resource Estimate at Halleck Creek (1000ppm TREO cut off)
The Halleck Creek rare earth project comprises two primary resource areas: Overton Mountain, located to the north, and Red Mountain, to the south (Figure 5). Within the Red Mountain area lies the Cowboy State Mine (CSM), a subarea where WRI is focusing its development efforts. The state of Wyoming owns both the surface and mineral rights within the CSM area, which are leased by WRI. This Wyoming ownership provides WRI with a streamlined permitting pathway through the state.
In 2024, WRI conducted drilling operations in the CSM area. The additional drill holes and assay data enabled the expansion of resource areas and provided detailed geological characterization of the rare earth-bearing Red Mountain pluton within the Red Mountain and CSM areas. As a result, the updated resource estimates apply to the Red Mountain and CSM areas. The Mineral Resource Estimate (MRE) for Overton Mountain remains unchanged.
Click here for the full ASX Release
This article includes content from American Rare Earths Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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The Conversation (0)
12 February
American Rare Earths Limited
Investor Insight
American Rare Earths is unlocking the USA’s rare earths potential through its strategic, high-value asset in Wyoming, ramping up its development to bolster the North American critical minerals supply chain.
Overview
American Rare Earths (ASX:ARR,OTCQX:ARRNF,ADR:AMRRY) is a critical minerals exploration company focused on its 100 percent owned Halleck Creek project in Wyoming. This project represents the largest known rare earth deposit in the US, with high concentrations of key magnet elements such as neodymium, praseodymium, dysprosium and terbium—essential components for renewable energy, electric vehicles and advanced defense systems.
The US currently depends on China for 80 to 90 percent of its rare earth processing, which poses a significant supply chain risk. Halleck Creek’s vast resource, with a 2.63-billion-ton JORC estimate at 3,292 parts per million (ppm) total rare earth oxide (TREO), provides an opportunity to secure domestic supply for nearly 100 years.
Beyond its substantial resource base, the project offers significant exploration upside, presenting a multi-generational opportunity to establish a sustainable rare earths supply chain in the US. The support from EXIM Bank further highlights the strategic importance of Halleck Creek in reducing U.S. dependency on foreign suppliers.Company Highlights
- American Rare Earth’s flagship project, Halleck Creek, is one of North America’s largest REE deposits. With a 2.63-billion-ton JORC resource at 3,292 ppm TREO, it holds the potential to meet US rare earths demand for approximately 100 years.
- The company is completely focused on developing a US-based critical minerals supply chain, aligning with US policies to reduce reliance on China for rare earth supply.
- The Halleck Creek project’s planned development consists of two phases. Phase 1 entails development of the Cowboy State mine, which is located entirely on Wyoming state land, enabling faster permitting and streamlined regulatory processes. Subsequently, cash flow generated from CSM will support development of the federal portions of Halleck Creek in Phase 2.
- This phased approach allows ARR to accelerate its pathway to production, enhance shareholder value, and strengthen its position as a key domestic supplier of rare earth elements in the United States.
- Well-positioned to address critical supply chain vulnerabilities, Halleck Creek benefits from strong federal and state support, including a non-binding EXIM Bank letter of interest for funding up to $456 million.
Key Projects
Halleck Creek Project (Wyoming)
The Halleck Creek project in Albany County, Wyoming, is the cornerstone of ARR’s growth strategy. Recognized as one of the largest, rare-earth deposits in North America, it boasts a JORC-compliant resource of 2.63 billion tons at 3,292 ppm TREO. The deposit is hosted in Precambrian granites and metamorphic rocks, which contain REE-enriched minerals like monazite and bastnaesite. The coarse-grained nature of the mineralization ensures cost-effective extraction and processing.
The high TREO content and low levels of impurities make Halleck Creek well-suited for producing separated rare earth oxides, particularly key magnet elements such as neodymium, praseodymium, terbium and dysprosium. The project’s proximity to established infrastructure, including roads and utilities, supports cost-efficient development. Detailed geological surveys have delineated a large, continuous mineralized zone, which currently covers only 16 percent of the total land package. Advanced metallurgical testing has confirmed recovery rates of up to 67 percent, with further optimization efforts ongoing. Drilling campaigns in 2024 successfully expanded resource estimates, validating the deposit’s scalability.
ARR plans to take a phased development approach for Halleck Creek, designed to maximize early value while minimizing risk. Phase 1 entails the development of the Cowboy State mine (CSM), which will focus on mining high-grade zones and generating early cash flow. Phase 1 will be developed entirely on Wyoming state land, enabling faster permitting and streamlined regulatory processes.
According to the Phase 1 Scoping Study, the CSM development is projected to require an initial capex of $380 million, with a 20 percent contingency. The study estimates an NPV of $430 million at a 10 percent discount rate and an IRR of 21.1 percent, based on a 3-million-ton-per-annum throughput rate. The project is expected to have a payback period of 2.9 years and a life of mine exceeding 20 years, with significant potential for future expansion.
In Phase 2, ARR plans to expand operations into federal land areas within the Halleck Creek property. This phase involves de-risking the federal portions of the project by leveraging cash flow from the initial phase and advancing permitting processes in parallel. Additionally, ARR is actively engaging with state regulators and local stakeholders to ensure compliance and support for its phased development approach.
Upcoming Work
ARR is advancing its development efforts on Halleck Creek over several fronts. The company plans to conduct additional drilling aimed at expanding the resource by targeting unexplored zones with known mineralization. In parallel, Phase 2 metallurgical testing will focus on improving recovery rates and producing high purity separated rare earth oxides to enhance project economics. To maintain its accelerated timeline, ARR is making progress on permitting, including advancing state-level approvals and environmental baseline studies for the CSM area. Furthermore, the company plans to initiate a pre-feasibility study (PFS) by late 2025, emphasizing a phased development strategy that includes the CSM as a key component.
La Paz Project (Arizona)
The La Paz project, located in western Arizona, is a promising asset in ARR’s portfolio, featuring a 171-million-ton JORC resource. The deposit is enriched in light rare earth elements, particularly cerium, lanthanum and neodymium, which are critical for renewable energy technologies and electric vehicles. The project benefits from excellent infrastructure, including proximity to roads and power. ARR continues to evaluate the potential for expanding the resource and advancing the project through further drilling and metallurgical testing. Although secondary to Halleck Creek, it holds potential as a long-term asset for ARR’s portfolio.
Beaver Creek (Wyoming)
This project is located near Halleck Creek and shares similar geological characteristics, indicating potential for significant rare earth mineralization. Preliminary fieldwork has identified areas with elevated rare earth element concentrations, and ARR plans to conduct detailed mapping and geophysical surveys to define drill targets.
Searchlight (Nevada)
Situated close to Mountain Pass, the only currently operating rare earth mine in the US, the Searchlight project is strategically located in a region known for its rare earth potential. ARR’s exploration strategy includes leveraging historical data and conducting modern geochemical sampling to identify high-priority areas for further exploration.
Leadership Team
Chris Gibbs - CEO & Executive Director
Appointed in November 2021, Chris Gibbs brings more than 30 years of experience in the resource sector across Australia, Canada, the US, South America, Africa and Europe. His track record includes driving growth and operational excellence for industry-leading mining companies. Prior to joining ARR, Gibbs held senior positions at Argonaut Gold, Centerra Gold, Barrick Gold, Placer Dome and Millennium Chemicals.
Joe Evers - President
Joe Evers has served in various leadership roles in the energy and mining industry. Most recently, Evers served as general counsel of American Rare Earths. Prior to that, he was corporate counsel at an international mining company and held positions of increasing responsibility in the land and policy departments at a publicly traded oil and gas company. Originally hailing from Sheridan, Wyoming, Evers received a bachelor’s degree and JD/MA in Environment & Natural Resources from the University of Wyoming. Evers was instrumental in securing a US$7.1 million grant from the State of Wyoming with support from partners Wyoming Energy Authority and the University of Wyoming Energy Resources Council.
Dwight Kinnes - Chief Technical Officer
A geologist with decades of experience, Dwight Kinnes has specialized in geological modeling of complex deposits in various international locations. Before joining ARR, he served as president of Highland GeoComputing LLC for 17 years, providing geological field services, modeling, GIS and database management to the mining industry.
Wayne Kernaghan - Company Secretary
Appointed on September 25, 2020. Wayne Kernaghan is a member of the Institute of Chartered Accountants in Australia with over 35 years’ experience in various areas of the mining industry. He is a fellow of the Australian Institute of Company Directors and a chartered secretary.
Board of Directors
Richard Hudson - Chairman
Richard Hudson contributes deep leadership expertise in mining and exploration, with a focus on mineral royalties, mineral economics, financial management, strategic planning and acquisitions. His extensive experience enhances the board's capacity to guide ARR's strategic initiatives.
Sten L Gustafson - Non-executive Director and Deputy Chairman
Sten Gustafson is the chief executive officer and a director of Pyrophyte Acquisition (NYSE:PHYT), a special purpose acquisition company focused on companies that provide products, services, equipment and technologies that support a variety of energy transition solutions. He is a highly experienced energy service industry executive, investment banker and corporate securities attorney. With over 25 years of experience in the global energy sector, Gustafson has advised on more than 100 corporate transactions worldwide worth over US$100 billion in value.
Melissa ‘Mel’ Sanderson - Non-executive Director
Melissa Sanderson’s international career has spanned diplomacy and mining for more than 30 years. She is adept at cross-cultural communication and brings exceptional leadership experience in inclusivity and diversity issues. At global mining leader Freeport-McMoRan, Sanderson sited, staffed and ran a corporate office focused on government and public relations and social responsibility programs. She has also served as a senior diplomat in the US Department of State.
Hugh Keller - Non-executive Director
Hugh Keller had a successful 34 year career as a partner at the law firm Dawson Waldron (now Ashurst) until retirement from full time legal practice in 2010. During this time, Keller served as joint national managing partner, Sydney office managing partner, chairman of the staff superannuation fund, one of the practice leaders, and as a board member. He was a non-executive director of ASX listed Thakral Holdings and a member of its audit committee until the company was acquired in a public takeover by Brookfield. He was a non-executive director of LJ Hooker and a member of its audit committee. He has also served as chairman of a large private investment company, several small investment companies and a private small exploration company. Keller has extensive legal experience and expertise in commercial contracts and arrangements, and public company audit committee procedures and requirements. He has led large teams of professionals and successfully managed people and resources in large projects.
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Advancing one of the largest REE deposits in North America
29 April
A Transformational Step Towards Becoming a Fully Integrated HPA Producer
Impact Minerals Limited (ASX:IPT) (Impact or Company) is pleased to announce that it will acquire a 50% interest in Alluminous Pty Ltd (Alluminous), becoming its largest shareholder. Alluminous is a newly formed company that has successfully acquired 100% of HiPurA Pty Ltd (Administrators Appointed) (HiPurA). HiPurA owns the HiPurA® High Purity Alumina (HPA) processing technology which was previously developed and wholly owned by ChemX Materials Limited (Administrators Appointed) (ChemX). Both ChemX and HiPurA separately entered voluntary administration on 2 January 2025 (ASX Release 4 April 2025).
The acquisition provides a number of strategic and tactical benefits, including:
- Potential to accelerate Impact’s entry into the HPA market by up to two years, providing a significant time and cost advantage compared to the current projected timeline.
- HiPurA® is complementary to the Lake Hope Project, which remains central to Impact’s strategy. Financial modelling and report writing for the pre-feasibility study (PFS) are well advanced.
- Immediate access to the HiPurA® HPA process, which has demonstrated >99.99% (4N) purity and is designed to be scalable.
- A pilot plant that is largely constructed and nearing commissioning, with modest additional capital expenditure required to commence production and generate product samples.
- Ownership of a fully equipped HPA laboratory and micro-plant eliminates the need for third-party testing, and enables faster customer qualification and process optimisation.
- Potential integration of the Lake Hope resource into HiPurA® via back-engineering, while unlocking a new pathway using chemical feedstocks. This allows both commercial options to be pursued to reach a streamlined path to market.
- Supports strategic alignment with Impact’s CRC-P research grant, allowing integration of membrane technologies and strengthening government funding prospects.
- Involvement of the original HiPurA® inventors, which together with Impact’s own HPA capabilities, ensures technical continuity, deep expertise, and innovation-led process improvements.
- Partnership with experienced North American investors may provide exposure to additional funding opportunities and global customer networks in high-growth HPA markets including batteries, semiconductors, and LEDs.
- The total acquisition cost of $2.2 million will be shared equally by Impact and the other shareholders of Alluminous. Impact's share is $1.1 million. This structure is expected to lower Impact’s financial exposure and share technical and financial responsibilities.
The remaining 50% of Alluminous will be owned by the two founders and inventors of the HiPurA® technology, together with North American venture capital investors with experience in the resource sector. This ownership structure is expected to support the development of the HiPurA® HPA process's development by retaining its original developers' involvement and may facilitate access to North American capital markets.
Alluminous's next steps will be to demonstrate the HiPurA® technology at pilot plant scale, followed by expansion to commercial-scale production in North America. There is also potential for Alluminous to pursue a listing on a North American securities exchange within the next 12 to 24 months.
Impact's Managing Director, Dr. Mike Jones, said, “This acquisition represents a rare and strategic opportunity for Impact. ChemX ultimately failed due to financial issues rather than any technical shortcomings. Our due diligence identified a robust, well-designed technology and business plan. The HiPurA® process demonstrated innovation, scalability, and the proven ability to produce 4N HPA at the micro-plant scale. The associated pilot plant, which is capable of producing at least 25 tonnes of HPA per year, is nearing commissioning. This has the potential to accelerate the time to commercialisation materially.
The acquisition process was highly competitive and provides us with a second avenue to progress our HPA strategy. HiPurA may serve as a complementary addition to our Lake Hope Project, with plans to explore integration through back-engineering. HiPurA® technology also provides alternative development possibilities, with potential advantages including faster time to market, multiple feedstock options, and a highly scalable production model. Based on our current assessments, the time savings could be as much as two years, which may be worth millions of dollars.
Our partnership within Alluminous brings together a rare combination of deep technical and financial expertise. The original inventors of HiPurA® will remain actively involved, ensuring continuity in technology development. At the same time, our North American co-investors contribute significant financial acumen and market access, particularly in high-value supply chains for batteries, semiconductors, and specialty materials.
“This acquisition provides more than just a process—it gives us real assets, well-credentialed partners, and a faster path to revenue. Impact is now uniquely positioned to become part of a vertically integrated, globally competitive supplier of HPA.”
Click here for the Shareholders & Investors Webinar Presentation
Click here for the full ASX Release
This article includes content from Impact Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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28 April
Trump Takes Aim at China with Deep-Sea Mining Nod, Looks to Boost Critical Minerals
Continuing his administration’s push toward reducing US reliance on Chinese mineral imports, President Donald Trump has signed a new executive order to fast track processes for deep-sea mining.
The release highlights nickel, cobalt, copper, manganese, titanium and rare earths as strategic minerals key to both national security and economic prosperity, saying that deep-sea mining may provide increased access.
The April 24 announcement from Trump came a day after Secretary of the Interior Doug Burgum outlined potential plans for the government to invest in US companies that mine and process critical minerals.
Speaking at a conference put together by the Hamm Institute for American Energy, Burgum said there may be a need for “equity investment in each of these companies that’s taking on China in critical minerals.”
He discussed a multifaceted strategy that could include the creation of a sovereign wealth fund, government-backed sovereign risk insurance and a national stockpile of critical minerals.
“We should be taking some of our balance sheet and making investments,” Burgum told reporters last week. “Why wouldn’t the wealthiest country in the world have the biggest sovereign wealth fund?”
What's at stake for the US?
These efforts to reposition America’s mineral supply chain come amid the country's escalating trade war with China, which has tightened its grip on the global critical minerals market.
Currently, China produces or refines a dominant share of 20 key raw materials used in essential technologies — from semiconductors and electric vehicle batteries to missile guidance systems and wind turbines.
According to the US Geological Survey, the US was 100 percent reliant on imports for 15 critical minerals in 2024, and approximately 70 percent of its rare earths came from China the year before.
China’s latest retaliation — a new wave of export controls on rare earth elements in response to US tariffs — has only intensified concerns about supply chain vulnerability.
“We have to get back in the game,” Burgum urged in the same conference.
“It’s not just drill, baby, drill. It’s mine, baby, mine. If we don’t do that as a country, we will not be successful. We will literally be at the mercy of others that are controlling our supply chains.”
Building a domestic safety net for America
To offset both economic and geopolitical risks, Burgum laid out three key proposals under consideration:
- Sovereign wealth fund — A mechanism to allow the US to take equity stakes in domestic mining and processing firms, particularly those struggling to compete with Chinese state-backed entities.
- Sovereign risk insurance — A federal insurance program to reimburse companies in the event that a future administration cancels approved projects.
- Critical minerals stockpile — Similar to the Strategic Petroleum Reserve, the government would buy minerals during periods of global oversupply to stabilize domestic prices and secure long-term reserves.
Burgum asserted that the three combined would put the US “in the game around critical minerals,” and said the administration is currently “working on all three.”
Opening the ocean floor to mining
Trump’s executive order directs federal agencies to expedite permitting under the Deep Seabed Hard Mineral Resources Act and the Outer Continental Shelf Lands Act. In addition to that, it instructs agencies to identify mineral-rich regions, facilitate exploration and map seabed areas for priority development.
Notably, the move bypasses the ongoing regulatory negotiations at the International Seabed Authority (ISA), a United Nations body tasked with setting global standards for ocean floor mining.
“The United States has a core national security and economic interest in maintaining leadership in deep sea science and technology and seabed mineral resources,” Trump states in the order.
Officials say US waters hold over 1 billion metric tons of seabed mineral deposits, including copper, cobalt, manganese and nickel — essential materials for renewable energy technologies and military applications.
However, the move has been met with sharp criticism from environmental groups and international regulators, which have long warned of the untested ecological risks of deep-sea mining.
“We condemn this administration’s attempt to launch this destructive industry on the high seas in the Pacific by bypassing the United Nations process,” said Greenpeace USA’s Arlo Hemphill in a statement.
“This is an insult to multilateralism and a slap in the face to all the countries and millions of people around the world who oppose this dangerous industry," he continues in the April 25 release.
The ISA, created under the 1982 United Nations Convention on the Law of the Sea — which the US has not ratified — has been working to establish a regulatory framework before any commercial deep-sea mining begins.
It is still deliberating rules on how to balance environmental concerns with mineral exploitation, with ISA Secretary-General Leticia Carvalho expressing hope that a global consensus can be reached by the end of 2025.
Mining companies mobilize amid US critical minerals push
Mining and energy companies are moving swiftly to capitalize on the Trump administration’s push to expand domestic production of rare earths and other critical minerals.
MP Materials (NYSE:MP), the operator of the only active rare earths mine in the US, reported a surge in interest from manufacturers after China imposed new export restrictions. The company has halted shipments of unprocessed ore to China, citing steep tariffs, and is ramping up efforts to process materials domestically.
NioCorp Developments (NASDAQ:NB) has welcomed the White House’s call to streamline permitting, which coincides with its plans to accelerate its Nebraska-based Elk Creek critical minerals project.
In the lithium space, oil giants like ExxonMobil (NYSE:XOM) and Occidental Petroleum (NYSE:OXY) are clashing over production rights in Arkansas’ Smackover Formation, one of the country's richest potential lithium sources.
Exxon subsidiary Saltwerx recently won regulatory approval to develop a 56,000 acre lithium unit, a move it said could unlock the domestic industry and bolster US energy security.
At sea, The Metals Company (NASDAQ:TMC) is seeking permits under a decades-old US law to mine polymetallic nodules from the Pacific seabed, pointing to renewed political will.
Don't forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
28 April
Strategic Discovery of Deep-Seated High-Grade Rare Earths Confirmed at Ivigtût, Greenland
Eclipse Metals Ltd (ASX: EPM) is pleased to report highly encouraging analytical results from 23 selected core samples from six historic diamond drill holes that were completed at the Company’s flagship Ivigtût multi-commodity project in southwest Greenland.
The results confirm the presence of high-grade rare earth element (REE) mineralisation at the Grønnedal Prospect, which is located within the Ivigtût Project Area.
The analyses, conducted by SGS Laboratories in Canada, demonstrate the occurrence of significant Total Rare Earth Oxide (TREO) values. A sample from drillhole R between 25.5 and
25.8m returned 20,092ppm (2.01%) TREO thus reinforcing the project's potential as a strategically located and globally significant source of magnetic and critical REEs essential for decarbonisation and advanced technologies.
Significant Analytical Results include:
- Drillhole R (25.5–25.8m) returned 20,092ppm (2.01%)TREO with 4,677ppm Nd₂O₃, 1,143ppm Pr₂O₃, 246ppm Dy₂O₃, 855ppm Y₂O₃ and 58ppm Tb₂O₃;
- Drillhole S (14.7–15.2m) returned 17,595ppm TREO including 4,269ppm Nd₂O₃, 484ppm Y₂O₃ and 371ppm Gd₂O₃
Director of Eclipse Metals, Mr Carl Poppal, stated:
“These latest analytical results are outstanding. They exceed our expectations and confirm the scale and quality of REE mineralisation present at depth in the Grønnedal prospect. With TREO grades over 2%, including significant Nd, Pr, Dy and Tb concentrations, the magnetic rare earth potential is truly world-class. Importantly, these findings allow us to calibrate the HyperXRF system, enabling rapid assessment across the broader project area and helping fast-track our pathway to an expanded MRE and feasibility development.”
Introduction
The Grønnedal carbonatite-hosted mineral resource is located within the Grønnedal Igneous Complex (Figure 1). The initial mineral resource estimate (MRE) (Table 1) is based on limited shallow drill testing of a small portion of the larger carbonatite complex.
Table 1:Grønnedal Classified Mineral Resource (LREO: Light Rare Earth Oxides, HREO: Heavy Rare Earth Oxides, MREO: Magnet Rare Earth Oxides)
The MRE is underpinned by analytical data derived from both exploration trenching and shallow drilling programs (refer to ASX announcement 25 July and 8th August 2023). Thus, the vertical extents of the MRE are limited to an average depth of only 12m.
In 1950, Kryolitselskabet Øresund A/S, Cryolite Company drilled six diamond holes in the vicinity of the Grønnedal resource to test for a potential iron ore deposit (Figure 1). This drilling extends to depths of up to 200m.
During 2024, the Greenland Government granted Eclipse permission to conduct non-destructive analyses of the government-archived core from these drillholes using the Minalyze XRF TruScan technology developed by Veracio in Gothenburg, Sweden. These data, which are summarised in Table 2, suggest that anomalous rare earth mineralisation, as defined by six key indicator elements, extends to depths of approximately 200m (refer to ASX announcement January 2025).
Table 2: Statistics of Minalyze XRF TruScan Program
To verify the TruScan data, conventional laboratory analyses were required. In late 2024 Eclipse were allowed to extract small specimens from selected core intervals, using sampling protocols approved by the Greenland Government, from 23 intervals representing key lithologies for analytical test work. Sample treatment was carried out by SGS Lakefield, Canada using a sodium peroxide (Na₂O₂) digestion followed by ICP-MS (Inductively Coupled Plasma Mass Spectrometry).
Click here for the full ASX Release
This article includes content from Eclipse Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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24 April
Lindian Resources Flags Security Breach at Kangankunde Rare Earths Project
Lindian Resources (ASX:LIN,OTC Pink:LINIF) confirmed on Tuesday (April 22) that a trespassing incident took placeearlier in the week at its Kangankunde rare earths project in Malawi, Africa.
According to the company, a group of individuals was detained by authorities after entering the site without authorisation and attempting to collect geological samples without consent.
Included in the group were two Chinese nationals.
The matter is currently under investigation by local law enforcement and security agencies.
“Lindian considers this a serious breach of site security and a concerning act of industrial trespass, particularly given the strategic nature of the Kangankunde asset," the company said in a press release.
"The Company takes site safety and security extremely seriously, especially with pre construction works well underway, to find foreign nationals on an active unmapped haul road allegedly taking geological samples is concerning specifically with the current geopolitical nature of the rare earths market," Executive Chairman Robert Martin also noted.
According to Lindian, Kangankunde is recognised as one of the world’s largest and highest-grade undeveloped rare earths resources, making it a strategic asset as the importance of these critical minerals grows.
The company believes the breach underscores Kangankunde's importance in the global rare earths supply chain, especially considering the current geopolitical nature of the rare earths market.
Monazite dominates the project's rare earths mineralisation, with its total indicated and inferred resource coming in at 261 million tonnes averaging 2.14 percent total rare earth oxide (TREO) above a 0.5 percent TREO cut-off grade.
A feasibility study completed in mid-2024 outlines a Stage 1 mine life of 45 years during with Kangankunde is expected to produce approximately 15,300 tonnes of concentrate per year at 55 percent TREO.
Its pre-tax real net present value stands at US$794 million at an 8 percent discount, while its pre-tax real internal rate of return is projected at 99 percent. CAPEX is calculated at US$40 million.
Rare earths are among the resources being affected by US-China trade tensions. Competition has intensified in the market, considering the use of rare earths in electric vehicles, smartphones and military equipment.
China has imposed export controls on key rare earths, while the US has been investing in its domestic processing capacity to reduce its dependence on Chinese rare earths. Other countries are also looking to secure supply.
With Kangankunde as its flagship asset, Lindian said it will continue to engage with local, regional and international authorities to ensure the site’s security. The company plans to provide further updates as appropriate.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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23 April
ERG Denies Sale Talks After Reported US$5 Billion Buyout Offer from US Investor
US investor James Cameron has reportedly made a US$5 billion offer to acquire Eurasian Resources Group (ERG), a major Kazakhstan-backed mining company central to the country’s rare earths expansion
However, the company maintains that no sale discussions are taking place.
A letter reviewed in a Reuters exclusive shows that Cameron, a former chair of London-based miner Petropavlovsk, proposed the multibillion-dollar buyout as ERG prepares to play a leading role in Kazakhstan’s rare earths ambitions.
The offer comes as western governments increasingly look for alternatives to China’s dominance in the global supply of critical materials used in electronics, defense and clean energy technologies.
“The financing will come from a combination of my own funds, as well as equity contributions from other investors in the United States, and possibly Australia and the Middle East,” Cameron reportedly said in the letter to ERG's board.
Sources familiar with the matter say Goldman Sachs (NYSE:GS) is in early talks to advise on the proposed transaction.
Cameron, who shares a name with an unrelated acclaimed film director, has shown interest in Kazakhstan’s untapped rare earths deposits, coincidentally aligning with US efforts to secure its supply chain amid a deepening rift with Beijing.
But, as mentioned, ERG has categorically denied any negotiations are underway. In a statement released on Monday (April 21), Chairman and CEO Shukhrat Ibragimov said that “there are no negotiations on the sale of ERG,” and that “the company’s management is fully committed to further consistent, sustainable development of the Group.”
ERG emphasized that it remains focused on implementing a long-term growth strategy adopted at the end of 2024.
ERG, headquartered in Luxembourg and 40 percent owned by the Kazakh government, is one of the world’s largest producers of copper, cobalt, aluminum and iron ore. It was privatized in 2013 in a US$4.5 billion buyout by its three founders and the state. Following the recent death of board chairman and company co-founder Alexander Mashkevich this past March, only one of the original founders, Patokh Chodiev, remains a shareholder of ERG.
Cameron’s unsolicited bid arrives at a pivotal moment for Kazakhstan’s mining ambitions.
Earlier this month, Kazakh geologists announced the discovery of a massive rare earths deposit that is estimated to contain resources of over 20 million metric tons. The find could potentially catapult the Central Asian nation into the ranks of the top three global holders of rare earth reserves, alongside China and Brazil.
Kazakhstan is now aiming to increase its output of rare and rare earth metals by 40 percent by 2028, with ERG expected to play a prominent role in the task. Prime Minister Olzhas Bektenov has also pledged to increase transparency around the country’s mineral reserves, which were previously kept secret since Soviet times.
ERG was once responsible for producing one-fifth of the world’s gallium, a critical component in semiconductors. That output ceased in 2012 when China flooded the market, depressing prices.
The strategic importance of such materials has re-emerged since China banned exports of gallium to the US in a tit-for-tat crackdown between Washington and Beijing over chip technology.
At the same time, ERG is undergoing a strategic overhaul of its African operations to reduce costs and refocus its investment priorities. The company is reviewing its mining licenses in the Democratic Republic of Congo (DRC) and weighing the potential sale of assets in Mozambique, according to Nicolas Treand, CEO of ERG Africa.
Speaking to Bloomberg at the Mining Indaba conference in Cape Town, South Africa, in February, Treand noted that the company is seeking to “clean house in the DRC.”
“The market is pretty, pretty bad and pretty depressed and I think it’s going to be depressed for the next two to three years,” he said, citing a global glut in cobalt that has driven prices of the battery metal to record lows.
Don't forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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22 April
Trump Orders Security Probe on Rare Earths and Critical Minerals Imports
In an escalation of his administration’s industrial and national security agenda, US President Donald Trump has signed an executive order directing the secretary of commerce to initiate a formal investigation into whether US reliance on imported processed critical minerals and their derivative products is a threat to national security.
The directive invokes Section 232 of the Trade Expansion Act of 1962, the same legal authority previously used to impose sweeping tariffs on steel and aluminum imports during Trump’s first term.
“Critical minerals, including rare earth elements, are essential for national security and economic resilience,” the White House states in a fact sheet released shortly after the order’s signing.
“Processed critical minerals and their derivative products are key building blocks of our defense industrial base and integral to applications such as jet engines, missile guidance systems, advanced computing, radar systems, advanced optics, and secure communications equipment,” the April 15 document also notes.
The executive order tasks the Department of Commerce with investigating the national security implications of US imports of critical minerals — such as tungsten, gallium and rare earth metals — and the manufactured goods that incorporate them, including semiconductors, electric vehicle components and high-performance magnets.
A report, due within 180 days, is expected to evaluate global supply chain vulnerabilities, market manipulation practices by foreign producers and the broader economic impact of import dependence.
The China factor
The executive action from the Trump administration arrives against the backdrop of escalating tensions with China, which has recently weaponized its dominance in the global critical minerals market once again.
In the past several months, China has imposed sweeping export controls on materials such as gallium, germanium, antimony and most recently, six heavy rare earth metals and rare earth magnets.
In early April, China implemented tighter export controls on samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium, key materials for electronics and defense manufacturing. These moves have significantly disrupted supply chains for sectors ranging from aerospace to automotive manufacturing.
The White House has characterized these actions as a form of “economic coercion,” warning that adversarial nations are leveraging control over mineral processing to manipulate prices and exert geopolitical influence.
“Foreign producers have engaged in price manipulation, overcapacity, and arbitrary export restrictions,” the fact sheet further notes, asserting that such tactics pose a serious national security risk to the US economy and defense.
A coordinated policy push
Trump’s latest order on critical minerals is part of a broader effort to reorient US trade and industrial policy around the principles of security, reciprocity and domestic production.
Since returning to office, Trump has reinvigorated his “America First” economic strategy by imposing a sweeping 10 percent blanket tariff on all countries, implementing targeted higher tariffs on nations with which the US runs significant trade deficits and launching multiple Section 232 investigations.
As part of this campaign, tariffs on Chinese goods have surged to as high as 245 percent, reflecting not only trade imbalances, but also punitive measures for China’s retaliatory tariffs and its role in the fentanyl crisis.
The American administration has also revived the original 25 percent tariff on steel and aluminum, closing loopholes and exemptions that had eroded its effectiveness.
In launching the latest investigation, the president emphasized the urgency of creating a domestic ecosystem capable of meeting demand for both raw materials and the high-tech goods they enable.
The executive order has received an immediate and favorable response from industry stakeholders.
For instance, American Tungsten (CSE:TUNG,OTCQB:DEMRF), a Canada-based company developing the IMA mine project in Idaho, issued a statement praising the White House’s action.
Ali Haji, CEO of American Tungsten, called the order a welcome development.
“We continue to be encouraged by the US Administration’s focus on developing the country’s critical metals capabilities and its endorsement of the sector,” he said in a company press release.
“As the Government continues to awaken to the potentials of its own domestic production capabilities, the American Tungsten team will continue to advance our past-producing tungsten project, the IMA Mine,” Haji added.
The company is an active member of the US Defense Industrial Base Consortium, and has engaged with the Department of Defense on potential partnerships aimed at revitalizing American mining and refining capacity.
Under the timeline outlined in the executive order, the Department of Commerce must produce a draft interim report within 90 days for interagency review. The final report, which will contain recommendations for possible actions — including the imposition of tariffs, import restrictions or incentives for domestic production — is due within six months.
Don't forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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