American Rare Earth Wins $10.7mn Wyoming Grant

Rare Earth

American Rare Earth, a US rare earths mining developer, has secured a $10.7 million grant from the state of Wyoming to advance the Cowboy State rare earth element (REE) mine at the Halleck Creek Project.

This grant will finance various aspects of the Cowboy State Mine's development, such as exploration, environmental studies, a pilot processing plant, and assessments of economic and community impact, according to the company.

The mine is reported to contain 7.48 million metric tonnes of total rare earth oxides, as stated on the company's website.

The non-dilutive funding will be distributed over a three-year period as part of a Matching Funds arrangement. Within this agreement, American Rare Earth will deliver technical reports detailing their findings and offer recommendations for future work programs to the Wyoming Energy Authority.