Western Rare Earths
Critical Minerals for Renewable Energy, Green Tech, Electric Vehicles, National Security, and a Carbon-Reduced Future While On-Shoring Jobs in an NMTC + Opportunity Zone
03/19/2021 – La Paz Groundbreaking Event
Western Rare Earths (WRE), the wholly-owned subsidiary of Australian traded American Rare Earths Limited (ASX:ARR), is an exploration company established to acquire and develop the advanced La Paz Rare Earths Project in Arizona and the Laramie Rare Earths Project in Wyoming. Additional Critical Minerals opportunities may be added to the platform.
WRE is focused on alleviating a supply deficit hindering the rapid growth of electric vehicles (EVs), the renewable energy revolution, and high-tech defense industries. While taking advantage of government push in the US, the EU, East Asia, and India, WRE will benefit from the pulling market trends of double-digit compound annual growth rates (CAGRs) for EV motors and wind turbines. WRE is in position to be the leader in planning and executing carbon-negative, environmentally responsible mining projects by leveraging world-class technical teams and experienced diverse leadership. We are collaborating with leading universities and national laboratories on research to develop disruptive sustainable biotech processing systems for Critical Minerals. With our La Paz Rare Earths Project location, WRE is on-shoring high-paying jobs to an Opportunity Zone location that is also eligible for New Markets Tax Credits (NMTC).
The evolution of WRE to be owner and developer of world-class rare-earth resources in the US is well underway, validated by the US government’s focus on establishing a domestic rare earths industry and bolstering domestic critical minerals production. This is demonstrated by the US Department of Energy’s (DOE) plans to provide federal funding for cost-shared research and development under the funding opportunity announcement (FOA) Carbon Ore, Rare Earth, and Critical Minerals (CORE-CM) Initiative for U.S. Basins.
This government initiative is a key driver and powerful incentive for WRE to accelerate the growth and development of the La Paz Rare Earths Project together with the Laramie asset in Wyoming. As a key US strategic resource, this and other critical mineral development programs are designed to provide feedstock for US-based processing. This commercial pathway that includes US Department of Energy incentives, along with reduced permitting hurdles provided by the Department of the Interior, allows WRE the opportunity to capitalize on the revival of a US supply chain for rare-earth elements (REE) and critical minerals. Our specific focus includes Scandium, Hafnium, and especially the high-value REE Lanthanides needed for EV motors.
WRE is building scale as the world’s largest economy – the US – is scrambling to shore up its own supply of rare earths. Concurrently, the world’s largest supplier, China, is dramatically restricting and reducing exports of these products, thus destabilizing supply chains for major manufacturers.
Focus on Sustainability and Our Communities
We are extremely well placed to provide the supply chain inputs required by renewable energy, electronics, and high-growth automotive technology, which are key to the fast emerging carbon-reduced economy. We are committed to a sustainable exploration and development strategy across our growing project portfolio. WRE will bring an eco-friendly supply chain to the green tech economy. Our approach to environmental management is founded on the identification and control of material risk during all phases of our exploration operations.
With world-class infrastructure set in mining-friendly, non-conflict jurisdictions, WRE is uniquely positioned to become the largest rare earths and Scandium supplier in the Western Hemisphere. Not only does our diverse leadership focus on sustainable efforts that include buy-in from local communities, but partnerships with technical leaders from universities around the country provide the research necessary for WRE to lead in rare earths processing.
At the core of our corporate responsibility and sustainability is a proactive stakeholder engagement policy. We strive to ensure that local communities and stakeholders surrounding our projects are both informed and consulted on the company’s exploration activities in a timely, accurate, and relevant manner. We aim to minimize our environmental footprint through the implementation of best practices across all aspects of our business.