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announced Thursday that the Cowboy State mine at its Halleck Creek project in Wyoming has been approved by the state for up to $7.1 million in non-dilutive funding through a grant.
The funding agreement was reached with support from the Wyoming Energy Authority and the University of Wyoming Energy Resources Council with the mission to support projects to advance the state’s energy economy. The Australian-headquartered company published in March the results of a scoping study for Halleck Creek, which confirms its potential to become a world-class rare earth elements project. Based on a mineral resource estimate, Halleck Creek holds 2.
“Wyoming is investing in the future of the energy industry and exploring new opportunities,” WEA executive director Rob Creager added. “The American Rare Earths mine … will give us greater insight into potentially one of the largest deposits of rare earth materials in the United States.” American Rare Earths is also advancing the Beaver Creek project, also in Wyoming, the La Paz project in Arizona, and the Searchlight project in Nevada.
By market close Thursday, American Rare Earths’ OTC shares were up over 10%. The company has an $88.2 million market capitalization.Dakota Gold receives $6 million investment from OrionLynas targets Malaysian first production of heavy rare earths in CY25
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