Aussie miner American Rare Earths joins forces with US Department of Energy project partner
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Emerging Australian-based miner American Rare Earths has just won another major endorsement of its projects, innovation and strategy by a US Government supported agency.
Its latest collaboration in helping to secure rare earths supply for the US market sees the company’s subsidiary become a team member on a Department of Energy funded R&D project partner.
Western Rare Earths now sits alongside the world’s second-largest metals producer Rio Tinto on the highly esteemed Critical Materials Institute (CMI) Team Members list, with both companies the only rare earths miners in the select group. Other members include leading universities, national laboratories and private companies.
The coveted invitation to become a CMI Team Member provides a huge boost to American Rare Earths’ (ASX:ARR) vision to be not just an explorer but also a major rare earths processor for the key North American market.
The latest good news for the Sydney-headquartered company comes just a month after exploration permits for its flagship US projects were approved and it completed a $6m capital raise with leading funds manager Fidelity International.
It also follows the announcement last October that Western Rare Earths would supply feedstock for the US Defense Advanced Research Projects Agency’s Rare Earth Elements (REE) bioengineering research program.
As a Department of Energy (DOE) Energy Innovation Hub, the CMI’s focus is on developing innovative technology solutions to ensure supply chain security for materials critical to the United States’ clean energy transition.
Rare earths are essential for American competitiveness in technology such as wind turbines, solar panels, electric vehicles and energy-efficient lighting.
The support for American-based innovation in the rare earths sector is part of mounting efforts in the US to reduce its reliance on Chinese produced and processed critical minerals.
The CMI public-private partnership is led by the top tier Ames Laboratory, a DOE national facility that carries out research in areas of US national security and resource management.
Marty Weems, CEO of Western Rare Earths and the President for the US Business Unit of American Rare Earths says: “We are delighted to be admitted as a member of the Critical Minerals Institute and to be working with some of the brightest minds in the world leading the innovation efforts to assure the supply chain for materials critical to the United States.”
Chris Gibbs, CEO and Managing Director for American Rare Earths adds: “Marty and the US team have been working diligently with various R&D partners to establish our presence with a number of the rare earth innovation efforts.
“It’s our vision to be more than just a mining company but rather a technology leader in this space: vertically integrated and one day producing the rare earth metals that are critical to our future.
“It’s our strategy to not only focus on developing our rare earth mining projects that have some of the cleanest ore in the world but to work collaboratively with R&D leaders building processing and refining capability, using new, disruptive, green and clean technologies that will provide critical minerals for future generations.
“Becoming a member of the Critical Minerals Institute is one small step in the pursuit of our vision and the journey that lies ahead.”
Strategic objectives for CMI team members include opportunities to drive R&D and the option to license technology for deployment.
Western Rare Earths’ inclusion on the team is a result of the company being a cost sharing co-applicant to a recently approved CMI R&D project, details of which are expected to be announced early this year.
The project includes Western Rare Earths sharing industry guidance, as well as feedstock and beneficiated rare earths mineralized ore, with CMI team members in the National Lab and University categories.
With this pivotal support from another US government department project partner, all regulatory permits approved and funds received from its recent capital raise, American Rare Earths has a clear road ahead to realise its vision of becoming a leading supplier of rare earths to create a more sustainable future.
This article was developed in collaboration with American Rare Earths, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.