American Rare Earths expands Wyoming mine scoping study

American Rare Earths Limited has released an updated Scoping Study for its Cowboy State Mine, part of the Halleck Creek Project in Wyoming. The study proposes a significantly expanded operation aimed at bolstering domestic rare earth material supplies in the United States.

The updated plan outlines a 4.5 million tonne per annum throughput over a 26-year mine life, an increase from the previous 20-year estimate. This expansion is expected to result in an average annual production of approximately 2,500 tonnes of neodymium and praseodymium (NdPr) oxide, representing a 36% increase over previous projections.

Financial estimates for the project include an after-tax Net Present Value (NPV) of approximately US$1.07 billion at an 8% real discount rate, with initial capital expenditure projected at roughly US$900 million. The company intends to integrate these resources into the permanent magnet supply chain, with processing development located in Wyoming.