American Rare Earths
American Rare Earths is a pre-revenue mining company developing the Halleck Creek rare earth deposit in Wyoming — one of the largest in the United States — to supply magnet rare earths (NdPr, Dy, Tb) to defense contractors, EV manufacturers, and US government strategic reserves, with targeted commercial production in 2027-2029.
- Company typePublic
- Founded2011
- HeadquartersSydney, Australia
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What American Rare Earths does
American Rare Earths is a pre-revenue exploration and development company focused on rare earth elements critical to permanent magnets used in electric vehicles, wind turbines, defense systems, and consumer electronics. The company's flagship asset is the Halleck Creek project in Wyoming — one of the largest known rare earth deposits in the United States — with an updated mineral resource estimate of 547.5 million tonnes containing an estimated 8.6 million tonnes of total rare earth oxide (TREO), including the magnet rare earths neodymium, praseodymium, dysprosium, and terbium. The portfolio also includes the Cowboy State Mine (the initial development phase at Halleck Creek on State of Wyoming land), the Beaver Creek high-grade discovery in Wyoming, the La Paz project in Arizona, and the Searchlight project in Nevada, collectively covering more than 10,000 acres.
The company employs a distributed processing architecture rather than a single integrated refinery: front-end milling occurs at the Western Research Institute in Laramie, Wyoming; mineral separation uses DISA Technologies' patented High-Pressure Slurry Ablation (HPSA) technology at DISA's Casper, Wyoming facility; and final hydrometallurgical refining is conducted at the Saskatchewan Research Council's existing rare earth refining infrastructure in Saskatoon, Canada. In December 2025, ARR achieved its most significant technical milestone to date, producing mixed rare earth oxide (MREO) from Halleck Creek ore at the SGS Lakefield laboratory with approximately 97% average REE recovery, 98% magnet REE recovery, and 99% uranium removal from pregnant leach solution. Pilot processing has separately demonstrated 94% gangue rejection and 70% TREO recovery at targeted capacity of 3,100 tonnes of mined ore.
The business model targets commercial production in 2027-2029 with direct sales to defense contractors, EV and clean energy manufacturers, electronics producers, and US government strategic reserve programs. No revenue is currently generated; the company is funded through a mix of public equity on the ASX (ticker ARR) plus OTCQX/OTCQB listings, a US$7.1 million State of Wyoming grant, a US$456 million non-binding EXIM Bank Letter of Interest, and a private placement. ARR is pursuing a NASDAQ dual-listing in H2 2026 and US redomiciliation to Delaware by 2027 as part of its transition from an Australian-listed explorer to a US-domiciled critical minerals supplier.
American Rare Earths firmographics
Firmographics- Name
- American Rare Earths
- Legal name
- American Rare Earths Limited
- Website
- https://americanree.com
- Company type
- Public
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- American Rare Earths is a pre-revenue mining company developing the Halleck Creek rare earth deposit in Wyoming — one of the largest in the United States — to supply magnet rare earths (NdPr, Dy, Tb) to defense contractors, EV manufacturers, and US government strategic reserves, with targeted commercial production in 2027-2029.
- Ownership category
- akta.pro rank
American Rare Earths industry classification
Industry- Product category
- Rare Earth Mining
- NAICS
- Mining, Quarrying, and Oil and Gas Extraction (21), Geophysical Surveying and Mapping Services (541360)
- SIC
- Miscellaneous Metal Ores (1090)
- akta.pro primary industry
- Rare Earths Mining & Concentrates (REE Ores) (IMAKAFAG)
- akta.pro secondary industries
- Rare Earths Separation & Refining (Oxides/Metals) (IMAKAFAH), Physical Separation (Gravity, Magnetic & Electrostatic) (IMAKALAC), Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA), Surface Mine Development & Pre-Strip (Earthworks, Overburden Removal, Haul Roads) (IMAKAOAD)
Keywords
Where American Rare Earths is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices5 records
Markets served
American Rare Earths business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Rare Earth Mineral Sales: American Rare Earths is a pre-revenue exploration and development company that will generate revenue through the sale of rare earth minerals (including neodymium, praseodymium, dysprosium, terbium, and other magnet rare earth elements) extracted from its Wyoming properties. The company plans to sell to defense contractors, clean energy manufacturers, EV makers, and electronics manufacturers. Target production timeline is 2027-2029 with potential supply longevity of 100+ years from the Halleck Creek deposit.
- Mixed Rare Earth Oxide (MREO) Sales: The company is developing capability to produce and sell processed mixed rare earth oxide products, moving up the value chain from raw ore to refined materials. MREO production from Halleck Creek ore was successfully demonstrated in December 2025, with plans for commercial production following completion of pilot plant programs and feasibility studies.
- Byproduct and Co-Product Sales: American Rare Earths is evaluating commercial applications for mining byproducts including tailings from rare earth extraction. A National Science Foundation-funded study with the University of Wyoming is assessing potential end-uses for byproduct materials. The company has also identified zircon co-product potential at Halleck Creek.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
American Rare Earths product offering
Product offeringCore offering
American Rare Earths is an exploration and development mining company focused on identifying, extracting, and processing rare earth element deposits in the United States. Its flagship Halleck Creek project in Wyoming targets light (NdPr) and heavy (Dy, Tb) rare earth elements for permanent magnet production, with a distributed processing pipeline spanning Wyoming milling, DISA mineral separation, and Saskatchewan Research Council hydrometallurgical refining. The company is pre-revenue and preparing for commercial production targeted in 2027-2029.
Product overview
American Rare Earths is a mining company developing a portfolio of rare earth projects across the United States. The company's flagship project is the Halleck Creek Rare Earths Project in Wyoming, which includes the Cowboy State Mine development phase. The company is also advancing the La Paz Project in Arizona, the Searchlight Project in Nevada, and the Beaver Creek Project in Wyoming. American Rare Earths focuses on extracting and processing rare earth elements (including light rare earths like NdPr and heavy rare earths like Dy and Tb) for use in permanent magnets essential for clean energy, electric vehicles, and defense applications. The company operates a distributed processing strategy, concentrating ore in Wyoming before sending it to partner facilities for further hydrometallurgical refining.
Differentiator
Problem solved
Functional benefit
Products and services
- Halleck Creek Rare Earths Project Flagship rare earth mining project in Wyoming, considered one of the largest known rare earth deposits in the United States, targeting both light (NdPr) and heavy (Dy, Tb) rare earth elements for permanent magnet production. The project is permitted at the state level through Wyoming with no Federal NEPA requirements and has the potential to supply magnet rare earths for over 100 years.
- Cowboy State Mine Initial development phase within the Halleck Creek project, designed to provide near-term heavy and light rare earths supply for American industry, located on State of Wyoming land with permitting underway. Targeted for near-term production as a fast-track path to commercial output.
- Mixed Rare Earth Oxide (MREO) Processed mixed rare earth oxide product produced from Halleck Creek ore via oxalic acid precipitation followed by calcining at 1,000°C, achieving approximately 97% REE recovery and 98% magnet REE recovery, and removing 99% of uranium from pregnant leach solution. Represents ARR's move up the value chain from raw ore to refined materials.
- La Paz Project Rare earth and scandium project in Arizona, identified as having potential to be among the largest rare earth deposits in North America, currently under review for gold, silver, copper, and manganese mineralization.
- Searchlight Project
Quantifiable outcome
- 547.5 million tonnes mineral resource with increased indicated resources
- +4 more outcomes
Companies that use American Rare Earths
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles3 records
American Rare Earths technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
American Rare Earths partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered minor, core and major.
- Boart LongyearminorEngaged to drill approximately 3,050 meters of HQ core across 19 holes on Red Mountain at the Cowboy State Mine as part of feasibility-stage work. Drilling program designed to provide geological and geotechnical data for Definitive Feasibility Study.
- Saskatchewan Research Council (SRC)coreThree-stage pilot plant pathway with front-end processing in Wyoming (milling at Western Research Institute, mineral separation using DISA HPSA technology) and final hydrometallurgical refining at SRC's Saskatoon facility. SRC's existing rare earth refining infrastructure enables production of high-purity separated rare earth oxide from Halleck Creek ore.
- Western Research InstitutecorePartnership for front-end milling operations in Laramie, Wyoming as part of the distributed processing strategy. The institute provides facilities for crushing, grinding, and initial milling of Halleck Creek ore concentrate.
- DISA TechnologiescoreDISA's patented High-Pressure Slurry Ablation (HPSA) technology is used for mineral separation at their Casper, Wyoming facility. This technology enables efficient liberation of rare earth minerals from ore without requiring thermal cracking processes.
- Major Engineering Firm (WPDA)majorAwarded Whole of Property Development Assessment (WPDA) for Halleck Creek rare earths project to optimize development plans across multiple resource areas and support long-term, multi-phase expansion aligned with US critical minerals policy.
- Tetra TechcoreUS-based engineering consulting firm engaged to conduct Oxides to Metals study evaluating technologies to convert separated heavy rare earth oxides into metals using molten salt electrolysis and calciothermic reduction. Study will deliver preferred processing technology, process flow diagram, equipment list, and preliminary capital and operating cost estimates.
- US Department of Energy METALLIC ConsortiumcoreAmerican Rare Earths was selected to provide approximately 5 tonnes of ore from the Cowboy State Mine test pit for DOE's METALLIC research consortium led by the National Energy Technology Laboratory, involving nine national labs to establish domestic critical minerals supply chains. Provides third-party validation of ARR's processing methods.
- University of Wyoming School of Energy ResourcescoreNational Science Foundation Accelerating Research Translation award to study tailings and byproducts from rare earths production. Researchers will conduct computational modeling, laboratory experiments, and develop a comprehensive material properties database to assess potential commercial applications for mining byproducts.
- SGS CanadacoreMetallurgical testing at SGS Lakefield, Ontario facility, where the company successfully produced mixed rare earth oxides from Halleck Creek ore, achieving approximately 97% average REE recovery and 98% magnet REE recovery under optimal conditions.
Scale indicators11 records
Recent moves8 records
Expansion highlights6 records
American Rare Earths competitors and assessment
Company assessmentDirect peers
- MP Materials: MP Materials operates the Mountain Pass mine in California, the only currently producing rare earth mine in the US, and is building downstream magnetics capacity. It is the closest direct competitor to American Rare Earths in the US domestic rare earth supply narrative, with the same customer segments (defense, EVs, magnets) and federal policy exposure.
- Lynas Rare Earths: Lynas is the largest non-China rare earth producer, operating the Mt Weld mine in Australia and processing in Malaysia, with a planned US processing facility. It is a direct comparable for Halleck Creek in terms of mining-to-oxide processing pathway, light/heavy REE basket, and offtake-driven business model.
- USA Rare Earth: USA Rare Earth is developing the Round Top heavy rare earth project in Texas and pursuing domestic magnet manufacturing. It shares American Rare Earths' positioning as a US-focused REE developer targeting heavy magnet rare earths (Dy, Tb) and a federal policy-aligned go-to-market.
- Texas Mineral Resources: Texas Mineral Resources is developing the Round Top heavy REE project in partnership with USA Rare Earth, with similar downstream ambitions. Comparable in stage and target end-markets (defense, permanent magnets) to American Rare Earths.
- Rare Element Resources: Rare Element Resources is developing the Bear Lodge critical rare earth project in Wyoming, focused on heavy REE (dysprosium, terbium) with a processing pathway via General Atomics. It is a near-perfect Wyoming-based peer with overlapping government funding, processing strategy, and customer targets.
Broad incumbents
- Energy Fuels: Energy Fuels is a US-based critical minerals producer (uranium, vanadium) that has expanded into rare earth processing at its White Mesa Mill, processing monazite sands for separated rare earth oxides. It competes with ARR's downstream processing ambitions and shares exposure to DOE/DPA funding programs.
Emerging players
- Iluka Resources: Iluka Resources operates mineral sands mining in Australia with a planned rare earth refinery at Eneabba. Its mineral sands feedstock strategy and downstream refining ambitions are directly analogous to ARR's distributed processing model and represent a regional (non-US) but technologically comparable reference.
- Ucore Rare Metals: Ucore is developing the RapidSX rare earth separation technology and the Bokan Mountain heavy REE project in Alaska. Its technology-focused approach to REE separation is complementary to ARR's processing strategy, and its Alaska asset competes for the same US critical minerals funding pool.
- Peak Rare Earths: Peak Rare Earths is developing the Ngualla rare earth project in Tanzania, focused on light rare earth concentrate. Comparable as a single-asset, pre-revenue rare earth developer pursuing staged financing and offtake, though its African geography differentiates it from ARR's US-focused narrative.
- Ionic Rare Earths: Ionic Rare Earths is developing the Makuutu heavy REE project in Uganda and a UK-based ionic clay processing facility. Its focus on heavy rare earths and alternative processing technologies provides a relevant emerging reference point for ARR's downstream strategy, though geography differentiates it.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
American Rare Earths social profiles
Digital presenceAmerican Rare Earths financial estimates
Financial estimateRevenue estimate
Valuation estimate
American Rare Earths leadership team
Management profileNumber of profiles
Profiles11 records
American Rare Earths subsidiaries and ownership
Company hierarchySubsidiaries1 record
American Rare Earths funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
American Rare Earths M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about American Rare Earths
What does American Rare Earths do?
American Rare Earths is an exploration and development mining company focused on identifying, extracting, and processing rare earth element deposits in the United States. Its flagship Halleck Creek project in Wyoming targets light (NdPr) and heavy (Dy, Tb) rare earth elements for permanent magnet production, with a distributed processing pipeline spanning Wyoming milling, DISA mineral separation, and Saskatchewan Research Council hydrometallurgical refining. The company is pre-revenue and preparing for commercial production targeted in 2027-2029.
Is American Rare Earths a public or private company?
American Rare Earths is a public company. It is classified as public and is currently operating.
When was American Rare Earths founded?
American Rare Earths was founded in 2011. It employs 1 to 10 people.
Where is American Rare Earths based?
American Rare Earths is headquartered in Sydney, Australia, in the Oceania region.
How does American Rare Earths make money?
Three revenue lines are on record. Rare Earth Mineral Sales are the primary driver. The others are mixed Rare Earth Oxide (MREO) Sales and byproduct and Co-Product Sales.
Who are American Rare Earths's main competitors?
Direct peers on record are MP Materials, Lynas Rare Earths, USA Rare Earth, Texas Mineral Resources and Rare Element Resources. Energy Fuels is listed as a broad incumbent. Emerging players are Iluka Resources, Ucore Rare Metals, Peak Rare Earths and Ionic Rare Earths.
Does American Rare Earths have an API?
No public API is recorded for American Rare Earths.
What industry is American Rare Earths in?
American Rare Earths's product category is Rare Earth Mining. Its primary akta.pro industry code is IMAKAFAG, Rare Earths Mining & Concentrates (REE Ores), with a secondary code of IMAKAFAH, Rare Earths Separation & Refining (Oxides/Metals). Its NAICS code is 21 and its SIC code is 1090.