American Rare Earths Find Comes up Short

In early 2024, reports began to emanate out of Wyoming of a stunning find of a rare-earth elements (REE). The deposit was reportedly so big it would reshape the REE landscape and make the United States the world's leader in minerals of all kinds. The initial reports from Halleck Creek reported a find of 2.34 billion metric tonnes of REEs. To put that in perspective, total world reserves were estimated at 115 million tonnes in 2021 with China the single-largest holder of REE reserves at 44 million tonnes. Alas, the devil is in the details. And the technical report from American Rare Earths is full of the details.