Rare Element Resources Secures Funding for Rare Earth Processing Plant

Rare Element Resources Ltd., the mineral exploration and development company behind the Bear Lodge mining project in northeastern Wyoming, announced that it has secured funding for its rare earth processing plant in Upton.

Rare earths are a key component of technologies such as cell phones, computers, televisions and batteries, and are used in industrial processes such as petroleum refining and glass manufacturing. The expansion of clean energy technologies is driving growth in demand for rare earth elements as they are also needed in wind turbines, solar panels and electric vehicles.

While Wyoming boasts large deposits of 17 rare earth elements that are actually abundant in nature, often not in sufficient quantities to be mined in a reasonable manner, the economic and environmental impacts of mining and processing have hindered growth in the United States. But with federal support, several rare earth companies are now looking to establish domestic processing for the first time in decades.

After receiving a $21.9 million grant from the U.S. Department of Energy, Rare Element Resources has raised an additional $25.1 million from private investors. The company expects the funds to cover the costs of design, permitting, engineering, and construction of a demonstration rare earth processing plant.

The demonstration plant in Upton is essentially a stepping stone to ensure that all of the technology will work on a medium scale before it is applied on a commercial scale. But if it is successful, the comapny hopes to establish its commercial separation and processing facility at the same site.

The company aims to begin demonstration plant operations in mid-2025. It has not set a timetable for a full-scale facility or for the Bear Lodge mine. "We'll let the results of the demonstration plant determine our next steps," said George Byers, a consultant to the company.

The demonstration plant will use ore that has been recycled and stored as part of the Bear Lodge project, the company said. But eventually, the company hopes the commercial plant will be able to process not only material from its own mines, but also extract rare earths from less concentrated sources such as coal and coal ash.

Byers said that while many rare earths are present at the proposed mine, the company will focus primarily on the high-value magnet components neodymium and praseodymium, as well as other rare earth elements such as samarium, europium and gadolinium.

If the demonstration plant is successful, Rare Element Resources will have to obtain a number of additional local, state and federal permits - including approval from the Wyoming Department of Environmental Quality and the U.S. Forest Service - before it can expand its operations. "We have a few other things to do, and now that we've secured enough funding, we're going to go ahead with the demonstration rare earth processing plant," Byers said.

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