American Rare Earths and its subsidiary, Wyoming Rare (USA) Inc., are moving forward with the development of the Cowboy State Mine at Halleck Creek in Albany County, Wyoming, Newsbreak reports.
This project represents a key step in bolstering domestic rare earth production and reducing US dependence on foreign suppliers, particularly China.
Rare earth elements (REEs) consist of 17 metallic elements that, while abundant in the Earth’s crust, are rarely found in economically viable concentrations. The Halleck Creek Project primarily focuses on neodymium and praseodymium, often called magnet metals, due to their strong magnetic properties. These elements are critical to various industries, including defense, technology, and energy.
According to Wyoming Rare (USA) Inc. President Joe Evers, these rare earths are essential for products ranging from fighter jets and submarines to smartphones and laptops. As the demand for advanced technology increases, securing a domestic supply of these elements has become a national priority.
On February 20, Wyoming Rare (USA) Inc. announced a major metallurgical breakthrough at the Halleck Creek Project. Recent testing revealed a tenfold increase in rare earth concentration in the mined ore, enabling the elimination of 93.5% of material during early processing. This advancement means only 6.5% of extracted ore requires further refining, significantly reducing processing costs and environmental impact.
In December, Wyoming Rare (USA) Inc. secured a facility at the Western Research Institute (WRI) in Laramie. WRI, a not-for-profit research organization, specializes in energy systems, environmental technologies, and materials research. This collaboration provides a centralized hub for core samples and pilot-scale development.
According to Justin Martin, Vice President of WRI’s Sustainable Emerging Technology Group, the institute will support the project with pilot development expertise and chemical process optimization. The Laramie facility’s proximity to Halleck Creek is expected to improve efficiency in sample analysis and reduce reliance on out-of-state testing.
On January 29, Wyoming Rare (USA) Inc. announced an increase in the estimated JORC-compliant mineral resource at Halleck Creek to 2.63 billion tonnes, a 12.2% increase from previous estimates. This update positions the mine as one of North America’s largest rare earth deposits and reinforces its potential for low-cost, open-pit mining.
With favorable geology and a streamlined permitting process due to its location on Wyoming state land, the project is advancing toward full-scale development. The high-grade resource data will be incorporated into an upcoming scoping study to assess feasibility.
American Rare Earths has secured its first reimbursement of more than $304,000 from a $7.1 million grant awarded by the Wyoming Energy Authority. This funding supports critical activities, including exploration drilling, environmental studies, and pre-feasibility assessments.
Additionally, the Export-Import Bank of the United States (EXIM) issued a nonbinding letter of interest for potential debt financing of up to $456 million. This financial support would facilitate the construction and initial operations of the Cowboy State Mine, aligning with federal efforts to strengthen domestic critical mineral supply chains.
American Rare Earths has actively engaged with local businesses, elected officials, and residents to discuss the project’s potential benefits. The mine, spanning less than 200 acres, is expected to contribute severance and ad valorem tax revenue to Albany County, supporting local infrastructure and public services.
The Halleck Creek Project is progressing toward key development milestones, including:
Pre-feasibility study completion by the end of the year
Continued resource exploration across uncharted areas of the site
Environmental monitoring and permitting efforts to ensure responsible development
Collaboration with BMO Capital Markets to secure investment and funding
