China leads world supply

Currently, China produces about 85% of the world supply of rare-earth elements—about 75,500 tons annually—and supplies over 75% of the $1 billion US market. Commodity prices for rare earths have been rising since China curtailed production by roughly 30% in 2000.

As our lives become more dependent on advanced technologies, new uses will be found for rare-earth elements, and demand for them will continue to grow rapidly. As that happens, Rare Element Resources intends to become an increasingly important North American supplier to the US and other world markets.

In an era of geopolitical uncertainties, industries worldwide are uneasy about relying on a single supplier for these critical metals. Accordingly, Rare Element Resources is working to establish solid worldwide contacts with potential purchasers of rare earths.

North American competition is minimal

Currently, there are few North American competitors and even fewer mines containing economical deposits of rare-earth elements. According to the US Geological Survey's extensive studies, Rare Element Reources' Bear Lodge property in Wyoming has the largest deposit of disseminated rare-earth elements in North America. Rare Element Resources is diligently exploring the potential of this deposit to supply rare-earth elements to the North American and world markets.