
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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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
23h
Auto Industry Takes Hit as China's Rare Earths Export Controls Impact Supply Chains
The global auto sector is under strain as China’s tightened export controls on rare earths begin to ripple across supply chains, shutting down parts production and forcing carmakers to brace for deeper disruptions.
The export curbs, imposed in April in response to US tariffs under President Donald Trump, are now triggering operational slowdowns and halts from Europe to Japan, with suppliers and automakers sounding the alarm.
The European Association of Automotive Suppliers (CLEPA) confirmed this week that several supplier plants in the region have already ceased production due to depleted inventories of rare earths and related magnets.
These materials are critical to both electric and internal combustion engine vehicles, and CLEPA has warned that more shutdowns are imminent if the situation remains unresolved. The group notes that while hundreds of export license applications have been submitted to Chinese authorities, only about a quarter have been approved so far.
“With a deeply intertwined global supply chain, China’s export restrictions are already shutting down production in Europe’s supplier sector,” said CLEPA Secretary General Benjamin Krieger in a statement.
The German Association of the Automotive Industry (VDA), which represents the country’s powerful car manufacturing lobby, echoed this concern in comments made this week.
“The Chinese export restrictions on rare earths are a serious challenge for the security of supply, and not just in the automotive supply chains,” VDA President Hildegard Müller told CNBC in an email.
“If the situation does not change quickly, production delays and even production stoppages can no longer be ruled out.”
China’s commerce ministry began implementing stricter export controls in early April, requiring suppliers of rare earth elements and high-performance magnets to obtain special licenses for overseas shipments.
The process has proven slow, opaque and burdensome, with applications running into the hundreds of pages. According to customs data, exports of rare earth magnets from China halved in April.
The policy has escalated a broader trade conflict between the world’s two largest economies.
Trump imposed tariffs as high as 145 percent on Chinese imports earlier this year in an attempt to rebalance trade flows and revive domestic manufacturing. After initial market backlash, some of those tariffs were scaled back, but China’s retaliatory move to weaponize its dominance of the critical minerals supply chain has reopened the standoff.
“US-based automotive production may have to halt production now because of shortages caused by China of high-performance permanent rare earth magnets,” warned Mark A. Smith, CEO of NioCorp Developments (NASDAQ:NB).
Smith said China is the world’s only source of processed heavy rare earths and holds complete leverage in this domain.
“The only real solution is to accelerate production in the US of these strategic materials and reduce our current dependence on China,” he added in a statement issued by his company this week.
The White House has not publicly commented on the situation, though expectations are high that Trump and Chinese President Xi Jinping will address the export curbs in an upcoming conversation.
In a social media post on Wednesday (June 4), Trump called Xi “VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH,” reflecting the fragile state of ongoing trade negotiations.
Analysts have long warned that overreliance on China for critical minerals — including the rare earths needed in wind turbines, electric vehicles, semiconductors and military systems — poses both economic and security risks.
Currently, China accounts for nearly 90 percent of global rare earths refining and 60 percent of rare earths mining.
As governments and companies scramble to shore up supply chains, the rare earths crisis has become emblematic of the vulnerabilities built into the green energy transition — and the geopolitical risks of concentrated supply.
With no immediate end in sight, the global auto sector may be facing the early stages of a protracted disruption.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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02 June
Eclipse Metals Unveils Transformational 89MT Rare Earths Resource Increase at Grønnedal
Eclipse Metals Limited (ASX: EPM) (Eclipse or the Company) is pleased to announce a significantly increased Inferred Mineral Resource of 89 million tonnes at a grade of 6,363 ppm Total Rare Earth Oxides (TREO) at the Grønnedal REE deposit, part of the Company’s wholly owned Ivigtût multi-commodity critical mineral project in southwest Greenland.
Highlights
- The inferred Mineral Resource Estimate (MRE) has increased to 89 million tonnes at a grade of 6,363ppm TREO, containing 567,600 tonnes TREO, using a 2,000ppm TREO cut-off.
- This represents a more than 70-fold increase, significantly enhancing Grønnedal’s scale, strategic value, and resource potential.
- The increased MRE incorporates analytical data from six diamond drill holes.
- With an average grade exceeding 6,000ppm (0.65%)TREO, the MRE positions Grønnedal amongst the highest-grade rare earth elements (REE) deposits globally.
- Notably, individual samples returned TREO values above 2%, including high concentrations of key magnetic REE such as: neodymium (Nd), praseodymium (Pr), dysprosium (Dy), and terbium (Tb).
- The mineralisation remains open in all directions, reinforcing Grønnedal’s strong resource potential.
- The resource represents a small fraction of a large carbonatite intrusive defined by surface mapping, sampling, and electromagnetic surveys, with indications of continuous mineralisation from the surface to depths exceeding 500 meters.
- The MRE reinforces a compelling upside case for development, strategic investment and long-term value creation.
Commenting on the transformational 89 Mt resource increase, Eclipse Metals Executive Chairman Carl Popal said:
“This is a transformational milestone for Eclipse and positions the Grønnedal REE deposit as a globally significant rare earths project. With 89 million tonnes now defined, and evidence suggesting we are only scratching the surface, Grønnedal REE has the scale and grade to become a cornerstone asset in global efforts to secure independent critical mineral supply chains. The MRE includes data from six deep historic diamond drill holes, all of which ended in mineralisation, indicating that the mineralisation potentially extends well beyond the current resource limits.
“Given the current geopolitical context and growing demand for clean energy technologies, we are fast-tracking plans for further drilling to delineate the broader potential of the Grønnedal carbonatite. As a small company entering a much larger strategic arena, we remain focused on delivering value to shareholders and progressing responsibly, with discipline and transparency.”
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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20 May
Lynas Becomes First Heavy Rare Earths Producer Outside China
Lynas Rare Earths (ASX:LYC,OTC Pink:LYSCF) said on May 16 that it has produced dysprosium oxide (Dy) at its facility in Malaysia, becoming the first commercial heavy rare earths producer outside of China.
Called Lynas Malaysia, the plant commenced production in 2012 and is located in the Gebeng Industrial Estate near the Port of Kuantan. Its heavy rare earths separation circuit was commissioned in the March quarter.
"The production of this on spec Dy is a significant step for supply chain resilience and provides customers with the option of sourcing product from an outside China supplier," said Lynas CEO and Managing Director Amanda Lacaze.
"Lynas is now the world’s only commercial producer of separated Heavy Rare Earth products outside China," she continued, adding that this distinction uniquely positions the company to help diversify heavy rare earths supply.
Lacaze noted that currently the company is engaged with customers in Japan, the US and Europe.
Dysprosium oxide is produced at Lynas' plant in Malaysia. Video via Lynas TV.
The plant's first dysprosium was produced on schedule, and first terbium output is expected in June.
The company said in its latest quarterly report that pricing for its new heavy rare earths products is expected to reflect high demand for these products outside China, and not the market index based on transactions in China.
Lynas also said it is expecting rare earths market volatility to continue through the June quarter as a result of the new global tariff environment and Chinese export controls. China placed export controls on seven rare earths on April 4, and although the country lifted some restrictions last week, it will reportedly continue to block exports of those elements.
In addition to its Malaysian rare earths processing facility, Lynas has a rare earths processing facility in Kalgoorlie, Western Australia, and is building a new rare earths processing facility in Texas, US.
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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13 May
3 Best-performing Canadian Rare Earth Stocks in 2025
Rare earths are important for many of today's technologies and tomorrow's carbon-free economy.
Investors may not be very familiar with the metals individually, but the group of elements is found in technology all around us, commonly in the form of rare earth magnets, which are used in everything from electric vehicles to smartphones to wind turbines. As technology continues to advance, they are expected to remain in high demand.
The 2025 rare earth market is navigating a volatile yet strategically critical phase shaped by supply concerns, demand fluctuations and intensifying US-China trade tensions.
Rare earth metals demand continues to be driven by uses such as clean energy technologies — particularly permanent magnets used in electric vehicles and wind turbines — as well as defense and electronics industries. However, global consumption forecasts for rare earth magnets have been revised downward slightly, with expected year-over-year growth in 2025 easing from 9 percent to around 5 percent as macroeconomic uncertainties weigh on manufacturing and industrial activity.
On the supply side, China's influence remains significant, accounting for over 50 percent of the world’s refined rare earth output. Beijing’s latest round of export controls on the strategic minerals, made in response to high tariffs enacted by US President Donald Trump, has intensified concerns about global supply chain vulnerability.
These measures have especially impacted US and European manufacturers, prompting renewed efforts to diversify supply, invest in recycling technologies and accelerate domestic production projects.
In response to China’s rare earth export measures, the Trump administration initiated a Section 232 national security probe into the rare earth supply chain in April 2025. The uncertainty has sparked renewed interest in miners, producers and refiners.
Here the Investing News Network looks at the Canadian rare earth metals companies on the TSXV that have had the biggest share price gains over the past year. Stocks with market caps above C$10 million were considered. TSX- and CSE-listed rare earth stocks were considered, but did not make the cut this time. This top Canadian rare earth stocks list was compiled using TradingView’s stock screener, and data was gathered on May 6, 2025.
1. Ucore Rare Metals (TSXV:UCU)
Yearly gain: 173.97 percent
Market cap: C$147.88 million
Share price: C$2.00
Founded in 2006, Ucore Rare Metals is a rare earth element processing and exploration company with operations in the US and Canada.
Following its 2020 acquisition of Innovation Metals, the company is commercializing its proprietary RapidSX separation technology. Ucore plans to implement this system at its first commercial facility, the Strategic Metals Complex, in Louisiana, US. Additionally, the company continues to develop its Bokan heavy rare earth elements project in Alaska, US.
In January, Ucore received C$500,000 from the Government of Ontario, Canada, as part of the provincial Critical Minerals Innovation Fund. The REE processor plans to use the cash infusion use the cash infusion to advance improvements at its RapidSX commercial demonstration facility in Ontario.
A subsequent private placement of 3.6 million shares priced at C$0.60 each raised an additional C$2.16 million for Ucore.
In March, Pat Ryan, chairman and CEO of Ucore, commented on an executive order by President Trump to investigate the critical minerals supply chain.
“(The) executive order underscores the urgent need to establish robust, domestic rare earth processing capabilities,” he said. “As the US looks to onboard rare earth mineral projects, there is strategic merit in knowing that significant security can be established by first dominating the processing and refining.”
Shares of Ucore rose to a year-to-date high of C$2.02 on May 4, 2025.
2. Leading Edge Materials (TSXV:LEM)
Yearly gain: 127.78 percent
Market cap: C$47.57 million
Share price: C$0.20
Vancouver-based Leading Edge Materials is focused on developing three critical raw material projects located in the European Union. The portfolio includes the wholly owned Norra Kärr heavy rare earth (HREE) project and the Woxna Graphite mine in Sweden, the company also has a 51 percent stake in the Bihor Sud Nickel Cobalt exploration alliance in Romania.
In January, Leading Edge released its 2024 results, noting that in early December, the company applied to the Mining Inspectorate of Sweden for an Exploitation Concession 25-year mining lease for Norra Kärr.
A February project update outlined plans to start up and down steam pre-feasibility work at Norra Kärr during the second quarter.
“As part of the PFS, the company will evaluate the business case for a Rapid Development Plan (RDP), whereby Norra Kärr can be in production in the shortest possible timeframe to be supplying REE concentrates to the market in advance of the completion of the downstream processing facility and selling nepheline syenite,” the statement read.
Shares of Leading Edge hit a year-to-date high of C$0.30 on March 23, 2025, coinciding with news that the company was awaiting a decision on its application for Strategic Project status under the EU’s Critical Raw Materials Act.
A few days later, Leading Edge learned that Norra Kärr did not earn the designation; however, the company plans to reapply for Strategic Project status when a new round of submissions are requested.
3. Mkango Resources (TSXV:MKA)
Yearly gain: 87.5 percent
Market cap: C$117.46 million
Share price: C$0.30
Mkango is positioning itself to be a leader in the production of recycled rare earth magnets, alloys and oxides. The company holds a 79.4 percent stake in Maginito, which owns HyProMag, a firm focusing on rare earth magnet recycling in the UK.
Maginito also owns Mkango Rare Earths UK, which focuses on long-loop rare earth magnet recycling. Additionally, Maginito and CoTec are expanding HyProMag’s recycling technology to the US through their joint venture, HyProMag USA.
Mkango’s mineral assets include the advanced Songwe Hill rare earths project and a diverse exploration portfolio in Malawi, covering rare earths, uranium, tantalum, niobium and more. Its subsidiary Lancaster Exploration signed a mining development agreement with the Government of Malawi for Songwe Hill in June 2024.
Mkango is also developing the Pulawy rare earths separation project in Poland through its subsidiary Mkango Polska.
In January, Mkango’s wholly owned subsidiaries Lancaster Exploration and Mkango Polska signed a non-binding letter of intent with special purpose acquisition company Crown PropTech Acquisitions for a proposed business combination that would list on the NASDAQ. The deal would create a vertically integrated rare earths company that holds Songwe Hill in Malawi and the Pulawy plant in Poland.
Later in the month Mkango announced plans for HyProMag and Areera to partner with Inserma and Sweden’s RISE Research Institutes to develop automated sorting and pre-processing of speakers, creating a concentrated feed of NdFeB magnets for recycling. The company also raised C$4.11 million in late January to advance rare earth magnet recycling in the UK and Germany.
On March 25, the European Commission granted Mkango’s Pulawy rare earth separation project in Poland Strategic Project status under the Critical Raw Materials Act. The designation highlights the project's importance to EU supply chains and will streamline permitting while enhancing access to financing and support from EU institutions and potential offtakers.
Company shares reached a year-to-date high of C$0.41 on April 13, 2025.
FAQs for rare earth investing
What are rare earth minerals?
Rare earths are a category of elements that share many chemical properties. In fact, all but two — yttrium and scandium — are also called lanthanides. These elements are commonly found in the same deposits and are necessary for diverse technological applications such as rare earth magnets.
How many rare earth elements are there?
In total there are 17 elements that make up the rare earths category, and they are split into light and heavy rare earths. On the light side, there are cerium, lanthanum, praseodymium, neodymium, promethium, europium, gadolinium and samarium, and on the heavy side there are dysprosium, yttrium, terbium, holmium, erbium, thulium, ytterbium, yttrium and lutetium.
Where are rare earth metals found?
In terms of both reserves and production, China is the frontrunner for rare earth metals by a long shot, with 44 million metric tons of reserves and 240,000 metric tons of production in 2023. However, Vietnam and Brazil also have significant reserves above 20 million MT. With regards to rare earth production, the US is in second place at 43,000 metric tons due to the Mountain Pass mine in California.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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07 May
Results of Channel Sampling Program at Halleck Creek
American Rare Earths Limited (ARR:AU) has announced Results of Channel Sampling Program at Halleck Creek
07 May
US Policy Shift Sparks Renewed Interest in Rare Earths Stocks
Rare earths stocks are gaining renewed investor attention following recent US government policies that sharpen its focus on securing critical mineral supply chains.
In early 2025, the Trump administration signaled stronger commitments to reduce American reliance on China for rare earth elements (REEs) — especially those essential for defense, energy and advanced manufacturing.
This policy momentum is driving capital into companies positioned to support US supply chain independence, particularly those with innovative and scalable rare earths solutions.
The US Department of Defense, Department of Energy and the White House have all expressed mounting concern over the vulnerability of American industries due to China’s overwhelming control of REEs — over 90 percent of global rare earth magnet production. These magnets are essential for defense systems, robotics, electric vehicles (EVs) and artificial intelligence technologies.
Amid these concerns, the Trump administration has been advancing executive actions designed to fast track domestic production and processing capacity. During his first term in office, Trump signed Executive Order 13953, which addressed the threat of reliance on foreign adversaries for critical minerals and instituted support for domestic mining and processing industries.
As the trade war with China escalates, the US president doubled down on this agenda with a new executive order, issued in March 2025, invoking his wartime powers to strengthen the US critical minerals supply chain.
This series of policy moves has boosted investor enthusiasm for rare earth equities. MP Materials (NYSE:MP), the sole US-based rare earths miner, has seen its stock price climb approximately 70 percent year-to-date, pushing its market capitalization to over US$4 billion, buoyed by its strategic role in domestic production and recent policy endorsements.
Similarly, USA Rare Earth (NASDAQ:USAR), which went public in early 2025, saw a 70 percent surge on its Nasdaq debut and now holds a valuation near US$887.5 million, reflecting strong investor confidence in its plans to establish a comprehensive US rare earths supply chain.
These gains underscore the market's positive response to governmental efforts aimed at reducing reliance on foreign sources, particularly China, for critical minerals essential to defense and advanced technologies.
Challenges in traditional supply chains
China’s dominance in the rare earths supply chain — from mining to processing to final manufacturing — presents a critical vulnerability for the US, especially in sectors like defense, robotics and artificial intelligence.
NdFeB (neodymium-iron-boron) magnets, essential for everything from drones and EVs to missile guidance systems and fighter jets, are largely sourced or processed in China. While MP Materials mines rare earths in California, most refining still happens overseas, underscoring a lack of domestic downstream capacity. Adding to the challenge, traditional rare earths mining is environmentally damaging and slow to permit in the US.
This urgent need for supply chain independence is also driving interest in alternative approaches like recycling and domestic magnet production.
CoTec Holdings: Positioned for the next phase of rare earths independence
As the US intensifies efforts to secure critical mineral supply chains, CoTec Holdings (TSXV:CTH,OTCQB:CTHCF), with a modest market capitalization of approximately US$33 million, is emerging as a key player in developing domestic rare earth magnet recycling capabilities. Through a 50/50 joint venture with Maginito, CoTec is advancing HyProMag USA, a project aimed at establishing a rare earth magnet recycling and manufacturing facility in the Dallas-Fort Worth area of Texas.
HyProMag USA will leverage the patented Hydrogen Processing of Magnetic Scrap (HPMS) technology, originally developed at the University of Birmingham. This innovative process enables the efficient recovery of NdFeB magnets from end-of-life products and offers a low-cost, environmentally sustainable alternative to mining.
HyProMag’s "short-loop" process provides a faster and less complex approach compared to conventional chemical-based methods. By using hydrogen gas, magnets within electronic scrap are caused to fracture naturally with minimal pre-processing. The demagnetized material can then be sieved into powder form, which is re-pressed and sintered into new magnets — all while bypassing many of the environmental challenges and delays associated with mining and refining.
The Texas facility is projected to produce 750 metric tons of recycled sintered NdFeB magnets annually by 2027, potentially supplying up to 10 percent of US domestic demand within five years by tripling the capacity contemplated by the Feasibility Study released in November 2024.
To put this in perspective, CoTec’s market capitalization of just US$33 million is a fraction of its larger peers — despite its advanced development stage and the strategic importance of its recycling model. The project’s positive November 2024 feasibility study highlights robust economics, with a net present value of US$262 million at current prices and up to US$503 million based on projected pricing scenarios.
The project has garnered support from the Minerals Security Partnership, a coalition of governments including the United States, aimed at developing secure and sustainable critical mineral supply chains. A positive feasibility study released in November 2024 highlighted robust economics for the project, estimating a net present value of US$262 million at current prices, with potential to reach US$503 million based on forecasted prices.
By focusing on recycling and domestic production, CoTec Holdings is strategically positioned to contribute to the US goal of reducing reliance on foreign sources for critical materials, particularly in sectors vital to national security and technological advancement.
Weighing the risks and rewards in rare earths investing
Government backing, mounting geopolitical urgency and rapid demand growth for applications in defense, artificial intelligence, EVs and clean energy technologies all point to a strong long-term outlook for rare earths.
The US push to secure domestic rare earths supply chains is creating strong tailwinds for investors, but the sector remains nuanced. Major players like MP Materials have benefited significantly from early mover status and government support. Similarly, USA Rare Earth, which went public in early 2025, debuted with a valuation of US$887.5 million despite still being in pre-production stages.
By contrast, CoTec Holdings’ lower market cap offers investors a markedly different value entry point. Yet, CoTec is progressing at a faster pace than many larger peers, with a US-based rare earth magnet recycling facility already in advanced development.
This contrast reveals a significant value gap in the market. While larger rare earth equities may offer liquidity and visibility, companies like CoTec provide exposure to near-term production, strategic alignment with US policy goals and cutting-edge technology at a much lower valuation.
Of course, investors should weigh this potential against sector-wide risks. Rare earths production and processing are technically complex and capital intensive, often facing long development timelines and regulatory hurdles. Price volatility is another factor, as rare earths markets are relatively illiquid and can be impacted by sudden changes in global supply — particularly from China.
But for those seeking to participate in the reshaping of the US critical minerals landscape, companies that combine innovative models with accelerated development timelines may offer an attractive mix of upside potential and policy-driven support.
Investor takeaway
Informed investing in this space requires balancing optimism about macro-level trends with a clear-eyed view of execution challenges. As US policy continues to favor domestic rare earth development, the right players could see significant upside — especially those aligned with sustainable, scalable supply chain solutions.
Unlike traditional miners, CoTec offers investors exposure to a low-footprint, tech-enabled model that may be better aligned with future regulatory and environmental expectations. In an era of supply chain instability, companies that can quickly deploy domestic capacity without the long timelines of mine development may have a distinct advantage.
This INNspired article is sponsored by CoTec Holdings (TSXV:CTH,OTCQB:CTHCF). This INNspired article provides information which was sourced by the Investing News Network (INN) and approved by CoTec Holdingsin order to help investors learn more about the company. CoTec Holdings is a client of INN. The company’s campaign fees pay for INN to create and update this INNspired article.
This INNspired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with CoTec Holdings and seek advice from a qualified investment advisor.
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