U.S. rare earth exploration company Rare Earths Americas (REA) announced that after completing a $16 million private financing round, it will develop and explore high-grade rare earth elements in the US and Brazil.
REA holds four assets in its portfolio—the Foothills project in the US and the Alpha, Constellation, and Homer projects in Brazil.
The company's Foothills project is a new rare earth discovery in Georgia, with rare earth oxide grades reaching up to 41.3%, and the monazite is rich in dysprosium and terbium.
REA's Alpha project in Bahia and Constellation project in Minas Gerais are ionic rare earth ore projects in Brazil, with total rare earth resources including dysprosium and terbium amounting to 1 billion mt.