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Rare Element Resources' Chairman, Dr. Ranta, to Retire; Patrick James to Join Board

by User Not Found | Apr 23, 2014
Dr. Donald E. Ranta, Chairman, intends to retire from the Company’s Board in June. Patrick “Pat” M. James, former President and Chief Executive Officer of Rio Algom Limited, to join board effective April 23, 2014.

April 23, 2014 – Lakewood, Colorado – Rare Element Resources Ltd. (NYSE MKT: REE and TSX: RES), a mineral resources company advancing development of the Bear Lodge Critical Rare Earth Project, announced today that Dr. Donald E. Ranta, Chairman, intends to retire from the Company’s Board and will not stand for reelection at the Company’s annual general meeting in June.  Additionally, the Company is pleased to announce the appointment to the Board of Patrick “Pat” M. James, former President and Chief Executive Officer of Rio Algom Limited, effective April 23, 2014.

“Don has been a driving force in the growth of the Company and the evolution of the Bear Lodge Project from early exploration to a world-class rare earth district now moving towards development,” said Randall J. Scott, Rare Element’s Chief Executive Officer. “Don’s contributions over the years, as an executive, a director and more recently as Chairman, have been invaluable and his extensive knowledge of the project as well as his dynamic and engaging personality will be missed.  His decision to retire was in part driven by his desire to see the Board continue to evolve as Bear Lodge moves toward development.  Consistent with this goal, Pat is an excellent addition to our Board bringing almost 50 years of operating experience in copper, uranium and gold.”  

Mr. James is the former President, Chief Executive Officer and director of Rio Algom Limited, an international copper mining company that had operations in the US, Canada and South America at the time of its purchase by Billiton Plc in 2000. During his time there, Mr. James grew the company rapidly while lowering operating costs.  For the majority of his career, he was with Santa Fe Pacific Gold Corporation, most recently as Chairman, President and Chief Executive Officer.  At the time of its acquisition by Newmont Mining, Santa Fe had five operating mines and was doing exploration throughout North and South America as well as in Kazakhstan.  Mr. James was awarded the Distinguished Lecturers Award by the Canadian Institute of Mining, Metallurgy and Petroleum and the Daniel C. Jackling Award for significant contributions to technical progress in mining, geology, and geophysics by the Society for Mining, Metallurgy and Exploration.  Currently, Mr. James serves on the board of General Moly, Inc. and has previously served on a number of boards, including Stillwater Mining Company, Centerra Gold Inc. and Newmont Mining.  He has a degree in mining engineering from the Colorado School of Mines, where he currently serves on the Foundation Board of Governors as Governor and Treasurer, and a Master of Management from the University of New Mexico, Anderson School of Business.  

Mr. Ranta will continue to serve as Chairman through the Company’s annual general meeting in June, at which time the board will elect a new Chairman and evaluate committee membership.  

Rare Element Resources Ltd. is a publicly traded mineral resource company focused on exploration and development of rare-earth element deposits, specifically those with significant distribution of critical rare earths.  The Company is advancing development of the Bear Lodge Project, located in northeast Wyoming.  Bear Lodge is a significant mineralized district containing many of the less common, more valuable critical rare earths that are essential for electronics, fiber optics, laser systems for health and defense, as well as many evolving green technologies, like hybrid cars, solar panels and wind turbines. Permitting and feasibility work on the Project is currently underway. 

Please visit our website at www.rareelementresources.com.   For additional information, please contact Robbin Lee at 720-278.2462 or rlee@rareelementresources.com.

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Rare Element Resources
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Open House – October 09, 2023

State and community leaders joined Senator Barrasso, Neal Blue and Brent Berg with the ceremonial groundbreaking shovel

Ceremonial groundbreaking with Senator Barrasso, state and community leaders, Neal Blue (GA) and Brent Berg (RER) 

The Company and General Atomics (GA), supported by state and community leaders, celebrated a ceremonial groundbreaking for their rare earth demonstration plant.

The presentation at the Open House made by Mr. Berg can be found here.

For a summary of the event, please click here.

Please click here to see a video replay from the Newcastle News Letter Journal of the event.

CEO Corner

Commentary from Kelli Kast,
Interim President, CEO and Director

Continuing Our Progress

As I step into the role of Interim President and Chief Executive Officer (“CEO”) for the coming weeks, I do so with confidence that we will seamlessly continue on the path the Board has set for us of progressing construction of the demonstration plant toward operations this summer, and in continuing to build awareness of the Company, the Bear Lodge Project, and the importance of establishing a secure domestic rare earth supply chain.

Please click here to read full content

Please click here to see appointed President and CEO Ken Mushinski's bio

Demo Plant Construction Update (2/20/24)

Utility Upgrades

Utilities Being Upgraded

Services to the site are being upgraded, including power, water and sewer, to support future plant operations.  Mild weather has allowed us to progress this and other outdoor work.

World-Class Technology Partner

General Atomics Fact Sheet
In 2017, an affiliate of General Atomics, one of the largest, most advanced technology companies in the world, took an equity position in Rare Element Resources.  Since that time, they have brought the full force of their technology development team enhance the Company's recovery/separation technology.
To learn more about General Atomics Click Here

Bear Lodge Panoramic
Sample Drilling
Core Samples

The Bear Lodge Project area is a significant mineralized district that contains one of the largest disseminated rare earth deposits in North America. This deposit contains many of the less common, more valuable rare earths that are essential for the magnet materials used in electronics, fiber optics, laser systems for health and defense, and many evolving green technologies, such as hybrid cars, solar panels and wind turbines. Rare Element Resources owns 100% of the Project. 

During the last few years, the Company, along General Atomics, whose affiliate is RER's majority shareholder, have been advancing their proprietary extraction/separation technology and have successfully produced commercial-grade neodymium/praseodymium (Nd/Pr) oxide in pilot-plant testing.  These materials are key components to the fast-growing, permanent magnet sector. The next step will be operations of a demonstration plant, which is currently under construction in Upton, WY.  Results generated from operating this plant will be used for the design and economic evaluation of a commercial rare earth processing facility. 

Project Highlights

  • Proprietary Rare Earth Extraction/Separation Technology – Successfully advanced the Company’s technology and produced neodymium/praseodymium (Nd/Pr) oxide in pilot-plant testing. Construction of a demonstration plant is currently underway to prove the scalability of the process and define the requirements for a commercial plant.
  • World-Class Technology Partner and Majority Shareholder – General Atomics, through its affiliate, is the majority shareholder in Rare Element Resources, is a technology leader with a proven track record of bringing new ideas to market.  Their understanding of the strategic role rare earths play in numerous advancing technologies makes them keenly aware of the need for a secure, domestic supply of rare earths. Their relationship within the U.S. Government have been essential to our ability to advance our technology.
  • Bear Lodge Project – Well-defined resource with excellent concentrations of the rare earth elements essential to high-strength, permanent magnets and the many industries that depend on them.  Two of those industries, electric vehicles and wind turbines, are expected to drive a doubling of demand for magnet materials in the next 10 years.
  • Strategic Location – Located in northeast Wyoming, the Bear Lodge Project has easy access to a major interstate, transcontinental rail, natural gas and low-power.  The area has existing infrastructure with a ready and skilled workforce.  The State of Wyoming has a rich history of mineral development and a pro-business focus, and its leaders are actively committed to economic diversification. 
  • Strong Federal and State Support – Both the Department of Energy (DOE) and the Wyoming Energy Authority (WEA) have shown their support for the Project through funding of over $26M for the demonstration plant.  The DOE continues to pursue ways to secure sources for material that will be key to industrial needs, especially those that support the country’s initiative of reducing carbon emissions, like electric vehicles and wind turbines. The WEA is supporting the State’s desire to diversify employment and understands that Wyoming can play a key role in developing a domestic supply chain – from minerals to magnets. 
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