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Proudly Serving the Hulet and Devils Tower Community
Rare Element Resources announced this week that it has been awarded $4.4 million from the Wyoming Energy Authority (WEA) towards its demonstration plant in Upton.
The grant is a cost reimbursement award for future expenditures related to the project, which will see the company test its proprietary extraction technology via a demonstration plant, using ore previously gathered from its proposed mine site in the Bear Lodge to produce commercial grade neodymium/praseodymium high-purity oxide used to produce high-strength permanent magnets.
The award represents around 10% of the total cost of the project. Around $21.9 million of the $44 million total was provided by the U.S. Department of Energy.
“We are very pleased that the WEA, upon the approval of the University of Wyoming Energy Resources Council, recognizes the critical importance of this timely project for the trajectory of the rare earth industry in the United States,” said Brent Berg, RER’s new CEO.
“Wyoming’s financial support exemplifies its commitment to critical materials, specifically rare earth element production. We cannot imagine a more favorable location for this important project and look forward to working with the WEA and others in the state of Wyoming, including the University of Wyoming School of Energy Resources, for many years to come.”
Berg also spoke to the next stage of the company’s planned activities, once the demonstration plant project is complete.
“As we progress our demonstration plant through licensing, construction, and operations in the near-term, we will plan for the advancement of a commercial-scale plant to support the Bear Lodge deposit in the future,” he said.
“We understand, as does Wyoming, that our project will serve as a cornerstone for the rare earth industry in Wyoming and America while providing a venue for worker training in rare earth processing and separation.”
RER said recently that its demonstration plant project is reaching the final detailed engineering stage while the plant location in Upton is prepared for construction. The company expects to build the plant next summer, if given approval from the DOE to proceed, with an estimated completion time of 12 months.
The WEA grant will be made available once this approval has been granted.
“The need for domestic rare earth elements is a necessity for both our ‘all-of-the-above’ energy strategy and also our energy security. Given that Wyoming is home to one of the highest-grade rare earth deposits in North America, we felt supporting Rare Element Resources’ demonstration plant in Upton was vital,” said Glen Murrell, Executive Director of the WEA.
“We look forward to supporting this project and supporting the development of the critical minerals industry in Wyoming.”
The WEA is a consolidation of Wyoming’s energy program in one entity that aims to advance the state’s energy strategy by supporting its full energy portfolio. It combines the scopes of the Wyoming Infrastructure Authority, Wyoming Pipeline Authority and State Energy Office to promote and support energy development, preserve existing markets and identify new areas for market development, among other goals.
