Rare Earth Prices in China Drop, Pr-Nd Oxide and Alloy See Significant Decline

American Rare Earths announced that it has been selected to supply raw material to the US Department of Energy (DOE)'s "Minerals to Materials Supply Chain Research Facility" (METALLIC) consortium. The Halleck Creek rare earth project in Wyoming, held by its subsidiary Wyoming Rare, is currently at an advanced exploration stage, with the Phase 1 Cowboy State mine having a 20-year mine life. The latest resource estimate shows that, at a cut-off grade of 1,000 ppm, total rare earth oxides amount to 547.5 million mt, while 18 channel samples collected in 2025 averaged a grade of 5,471 ppm, with the highest reaching 13,816 ppm. The project has an after-tax net present value of $558 million and an internal rate of return of approximately 24.

According to data released by the General Administration of Customs, from January to February 2026, China’s rare earth exports reached 10,468 mt, up 23% YoY, while the export value was approximately 480 million yuan, down 17.6% YoY. During the same period, exports of rare earths and their products totaled 22,745 mt, up 13.6% YoY, and the export value was approximately 4.51 billion yuan, up 11.4% YoY.