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2/19/24 - Innovative News Network, Company Profile

Press Releases

Rare Element Resources named U.S. Department of Energy funding recipient for Rare Earth Separation and Processing Demonstration Project

by Rare Element Resources | Jan 21, 2021

DoE selects General Atomics and Rare Element consortium for $21.9 million in funding to advance commercial grade demonstration project

January 21, 2021 – Littleton, Colorado – Rare Element Resources Ltd. (the “Company”) (OTCQB: REEMF) is pleased to announce that formal notice has been received from the U.S. Department of Energy (“DoE”) that General Atomics, an affiliate of Synchron, the Company’s largest shareholder, along with Rare Element Resources, Inc. (“RER”), a wholly-owned subsidiary of the Company, have been selected to enter negotiations in relation to a financial award under the Critical Materials Funding Opportunity Announcement (“FOA”) for the engineering, construction and operation of a rare earth separation and processing demonstration plant.    

RER, along with partners General Atomics and affiliates, and LNV, an Ardurra Group, Inc. Company, as engineering and construction subcontractor, submitted a formal proposal to the DoE in response to a published FOA in mid-2020 for the construction and operation of a rare earth separation and processing plant utilizing proprietary technology to produce commercial grade products. The DoE funding represents one-half of the total estimated costs for the project and is contingent upon the negotiation of mutually agreeable documents which is expected to be completed within 60-90 days.  

Randall Scott, President and CEO of the Company stated, “We are very pleased that the Department of Energy has taken decisive action to advance a domestic rare earth supply chain through the Advanced Manufacturing Office’s funding initiatives and now has selected our team’s proposal as a critical materials large scale project. We stand ready to meet all the pre-award requirements to finalize the financial award within the coming weeks. Once this is completed, we will progress our team’s plans for the timely design, construction, and operation of the plant, utilizing our proprietary technology.” Mr. Scott added, “This funding evidences the federal government’s commitment to secure an American supply chain as we face Chinese dominance in the rare earth market. The Company remains focused on being the next domestic rare earth producer, and the DoE funding will provide key support to advance this goal through this demonstration project.” 

The demonstration plant will process the already stockpiled high-grade ore from RER’s Wyoming Bear Lodge Project. The Company anticipates that, once funding is secured, the demonstration plant design will be finalized and followed by construction within a period of 18-24 months. Operations to process and separate rare earth elements from the stockpiled ore will follow for an additional 12-month period.  

Synchron, UIT and General Atomics are privately held companies engaged in the development and production of advanced technology products and systems for the energy and defense sectors. 

Rare Element Resources Ltd. is a publicly traded, strategic materials company focused on delivering rare earth products for technology, energy and defense applications by advancing the Bear Lodge Critical Rare Earth Project 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 high-strength permanent magnets, electronics, fiber optics, laser systems for health and defense, as well as many technologies like electric vehicles, solar panels and wind turbines.  

Please contact Randy Scott at +1 720-278-2460 or rscott@rareelementresources.com, for additional information.

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward-looking statements are usually identified by our use of certain terminology, including “will,” “believes,” “may,” “expects,” “should,” “seeks,” “anticipates,” “plans,” “has potential to,” or “intends,” or by discussions of strategy or intentions. Such forward-looking statements include statements regarding the negotiation of definitive documents in relation to the award for the engineering, construction and operation of the demonstration plant, the expected timing for such negotiations, plans and timing for the financing, design, construction, and operation of the plant, and the Company’s goal of being the next domestic rare earth producer. Factors that could cause actual results to differ materially include, but are not limited to, the ability of the parties to negotiate definitive documents, the ability of the Company to secure additional funding for the demonstration plant, the ability to obtain demonstration plant licensing, successful further permitting activities for the Bear Lodge Project, the availability of sufficient capital for the future development and operations of the Company, and other matters discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and our other periodic and current reports filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on www.sec.gov and with the Canadian securities commissions available on www.sedar.com. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of these and other uncertainties and risk factors set out in our filings made from time to time with the SEC and the Canadian regulators, including, without limitation, our reports on Form 10-K and Form 10-Q. Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. While we may elect to update our forward-looking statements at any time, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Rare Element Resources
Fact Sheet

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Rare Element Resources
Technology Fact Sheet

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Site Visit by Governor Gordon – 5/9/24

Ken and Gov 5 9 24

Rare Element Resources (RER) was pleased to host Governor Gordon (R-WY) at our rare earth processing and separation demonstration plant project in Upton, Wyo. The Governor and several of his staff members, as well as community leaders, saw the construction progress and learned more about the Company's innovative rare earth recovery technology.  Photo: (Starting on right) Governor Gordon, Ken Mushinski (Pres/CEO of RER), Dante Leal (LNV, engineering firm).

For additional pictures of the event, please click here.

Most Recent Presentation
The MoneyShow Orlando

October 30, 2023

Money Show Orlando - October 2023

Technical Report Summary on Bear Lodge REE Project

Updated Mineral Resource for Bear Lodge Focused on Key Magnet Materials


CEO Corner (5/17/24)

Starting Off Strong

Ken Mushinski
During my first weeks serving as the President and CEO of Rare Element Resources, I have had the opportunity to join our team in several key events as we progress construction on our innovative rare earth recovery and separation demonstration plant project in Upton, Wyoming. 

Please click here to read the rest of Ken's comments

Demo Plant Construction Update (5/16/24)

Skid arriving

First Equipment Skid Arrives at Site

As building work and site upgrades are finishing up, the first equipment skid has arrived on site. Using an offsite integrator allows the equipment to arrive ready for installation and integrations with the other skids. Additional units are scheduled for delivery in the coming weeks.

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.