American Rare Earths and Novex to Develop US Rare Earth Metal Supply Chain from Wyoming Project

American Rare Earths (ARE) and Novex plan to use raw materials from the Halleck Creek project in Wyoming to produce rare earth metals in the US, thereby building a domestic supply chain from ore to permanent magnets.

The two companies signed a memorandum of understanding to advance the conversion of separated rare earth oxides into metals required for permanent magnets, and to study and design a US rare earth metal production facility.

The two parties will primarily develop the Halleck Creek project in Wyoming, which is the deposit with the highest known rare earth oxide content in the US.