American rare Earth Company will produce nearly half of the key minerals in the USGS updated list

U.S. rare earths announced that it is expected to produce nearly half of the key minerals listed in the USGS's revised list of raw materials that are critical to national security and the economy.

In a press release, the Texas-based company said it was working with partner Texas Mineral Resources to develop Round Top heavy rare earths, lithium and key mineral projects in Hudspeth County, making it a supply chain for national strategic assets critical to the U.S. Economy.

"US rare earths will bring nearly half of the key minerals identified by the US Geological Survey into domestic production, including gallium, which is at the top of the new list of key minerals," Seyer Smith, president of US rare earths, said in a media briefing. "We commend the USGS for its strong assessment of these important mineral commodities and for determining the material limitations of U.S. technology and defense."

According to Smith, in February 2021, the United States Geological Survey identified Round Top as the largest gallium deposit in the United States. Gallium is a key semiconductor chip material and currently has no manufacturer in the United States.

In addition to gallium, the survey identified 16 rare earths, including neodymium, dysprosium, praseodymium and terbium.

Smith pointed out that the Round Top project, due to be operational in 2023, is a unique polymetallic deposit rich in heavy rare earths, containing 16 of the existing 17 rare earth elements, as well as lithium, gallium and other key minerals listed in the United States.

According to the planned initial production rate, the mine has been proved to have sufficient resources and can be operated for more than 100 years.

The mining rate is estimated at 20000 tons per day, and all mineral processing is expected to take place on site. REO production is expected to average 2313 tons per year, including about 180 tons of neodymium and 67 tons of praseodymium. The output of lithium resources is estimated to be 9800 tons of lithium carbonate per year.

"US rare earths are developing a complete domestic mine-to-magnet supply chain, and Round Top's lithium will also support the manufacture of battery electric vehicles, where rare earth magnets are necessary for defense, medical, green energy and electric vehicle production," Smith said. At present, most of the rare earth materials and magnets of American companies come from China. "

The Mount pass Mine in California, controlled by MP Materials Corp, is the only active rare earth mine in the United States.