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Australian explorer focused on cementing itself as a key player in the development of critical high value scandium and rare earths in mining friendly Arizona in the US.
American Rare Earths Limited (ARR) made its mark as the only ASX-listed company with exposure to the US rare earths market following its acquisition of the La Paz Scandium and Rare Earths Project in August 2019. The project, which has the potential to be the largest rare earth project in North America, contains an existing NI 43-101 resource.
The company is focused on building scale to meet critical US demand, and in August 2020 expanded its portfolio to include the Laramie Rare Earths Project in Wyoming.
ARR has an investment in Cobalt Blue Holdings’ (ASX:COB). The Company continues to hold rights to a Net Smelter Return (NSR) royalty of 2% on all cobalt production from the Thackaringa Project which was sold to Cobalt Blue Holdings Limited in February 2020. In addition, holding a A$3M Promissory Note (PN).
The La Paz Rare Earths + Scandium Project was founded in August 2019 with the initial US claims purchase in La Paz County, Arizona, approximately 105 miles northwest of Phoenix and 16 miles northeast of Bouse. The road transects the claims into southwestern and northeastern portions. With a contiguous footprint of over 218 federal lode mining claims over approximately 4,503 acres plus an Arizona state exploration permit for 640 acres, the increasing energy surrounding the La Paz Rare Earths Project has resulted in an assemblage that has the potential to be the largest rare earths project in North America. The full 5,143 +/- acres and considerable surrounding area lies fully in the Opportunity Zone and New Market Tax Credit Zone of Census Tract ID: 04012020100.
In addition to the vast area of claim control held in this Project, it is bolstered by excellent local infrastructure, including electricity, water, and gas lines all within 11km of its western boundary. Additionally, this project has the local asset of a skilled local workforce that is supported by a state of Arizona training mine and workforce development incentives. The location is in a non-conflict jurisdiction, earning a top 10 rank of 83 global mining jurisdictions by the Fraser Institute. Furthermore, the vast network of transport routes optimizes production and distribution channels, and provides an additional sense of safety and security to the local community. Located within the structural domain known as the Harcuvar metamorphic core complex within the Basin and Range Province, the La Paz area is also known for favorable weather conditions that allow for year-round mining and exploration.
By leveraging Arizona’s history of being mining-friendly, our various stakeholders have a vested interest in preserving the area with responsible mining requirements that can meet the growing needs for rare earths as well as maintain respect for the land. Unearthing penalty elements that have plagued rare earths projects globally, such as radioactive thorium and uranium, is also kept at a minimum. The radioactive content per ton of raw ore is 30X higher in a typical rare earths project.
Western Rare Earths (WRE), the wholly-owned subsidiary of Australian traded American Rare Earths Limited (ASX: ARR; OTCQB:ARRNF), is an exploration company established to acquire and develop the advanced La Paz Rare Earths and Scandium Project in Arizona, the Halleck Creek Rare Earths Project in Wyoming, and the Searchlight Heavy Rare Earths Project in Nevada. Additional Critical Minerals opportunities may be added to the platform.
WRE is focused on alleviating a supply deficit hindering the rapid growth of electric vehicles (EVs), the renewable energy revolution, and high-tech defense industries. While taking advantage of government push in the US, the EU, East Asia, and India, WRE will benefit from the pulling market trends of double-digit compound annual growth rates (CAGRs) for EV motors and wind turbines. WRE is in position to be the leader in planning and executing carbon-negative, environmentally responsible mining projects by leveraging world-class technical teams and experienced diverse leadership. We are collaborating with leading universities and national laboratories on research to develop disruptive sustainable biotech processing systems for Critical Minerals. With our La Paz Rare Earths Project location, WRE is on-shoring high-paying jobs to an Opportunity Zone location that is also eligible for New Markets Tax Credits (NMTC).
WRE is supplying feedstocks to researchers who are seeking funding from DARPA’s new Rare Earths bioengineering research program.
American Rare Earth’s wholly-owned US subsidiary Western Rare Earths (WRE) is supplying feedstock to researchers seeking funding from the US Defense Advanced Research Projects Agency’s (DARPA) new Rare Earth Elements (REE) bioengineering research program.
ARR plans to drill eight diamond holes across the new La Paz Southwest Project are in the US state of Arizona in a bid to firm up a conceptual exploration target of 742-928 million tonnes.
https://www.youtube.com/watch?v=DDa1qMJN2Xg&list=PLnk_WM-WosgWoqrpVeHqznrFKhjGr9mWG
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