Rare Element Resources
- Company typePublic
- Founded1999
- HeadquartersLakewood, United States
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Rare Element Resources does
Rare Element Resources Ltd. (OTCQB: REEMF) is a publicly traded strategic materials company advancing domestic production of separated rare earth elements (REEs), primarily through the Bear Lodge Critical Rare Earth Project in northeastern Wyoming. The company was incorporated in 1999, is headquartered in Firestone, Colorado, and is majority owned (~71.4% post-March 2026) by Synchron, an affiliate of General Atomics, which has been the strategic technology partner since 2017. Its core technical offering is a proprietary, patented REE extraction and separation process developed in 2013 and refined in collaboration with General Atomics and its German affiliate UIT; the four-stage flowsheet (physical upgrading, primary hydromet processing, separation/refining, and final REE separation/refining) is engineered to produce >99.5% purity neodymium/praseodymium (Nd/Pr) oxide alongside samarium/europium/gadolinium (SEG), lanthanum, and heavy rare earth concentrate, using a zero-discharge, closed-loop hydrometallurgical design.
The business model is pre-commercial. A $66M+ demonstration plant in Upton, Wyoming commenced initial operations in March 2026 and is expected to produce up to 10 tons of separated Nd/Pr oxide over a 10-12 month operational period, primarily to generate technical, economic, and offtake data for a future commercial-scale facility. Target customers are U.S. defense contractors, electric vehicle and renewable energy manufacturers, and high-tech/medical technology companies needing secure domestic supply of magnet-grade REEs; a secondary optionality is licensing the separation technology to third-party feed sources and for heavy rare earth applications. Pricing is not publicly disclosed. Capital structure is dominated by a Synchron-led ownership base, multi-agency U.S. government support (~$24.2M DOE, $4.4M Wyoming Energy Authority, a non-binding $553M EXIM debt LOI), and two recent oversubscribed rights offerings of $35.8M (March 2024) and $30.9M (March 2026). The Bear Lodge mine itself is in permitting, with FAST-41 Covered Project status granted in March 2026 to accelerate federal environmental review. No commercial revenue has been recognized to date.
Rare Element Resources firmographics
Firmographics- Name
- Rare Element Resources
- Legal name
- Rare Element Resources Ltd.
- Website
- https://rareelementresources.com
- Company type
- Public
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Rare Element Resources industry classification
Industry- Product category
- Rare Earth Element Mining and Processing
- NAICS
- Nonferrous Metal (except Aluminum) Smelting and Refining (33141)
- SIC
- Metal Mining (1000), Primary Smelting & Refining Of Nonferrous Metals (3330)
- akta.pro primary industry
- Rare Earths Separation & Refining (Oxides/Metals) (IMAKAFAH)
- akta.pro secondary industry
- Rare Earths Mining & Concentrates (REE Ores) (IMAKAFAG)
Keywords
Where Rare Element Resources is headquartered
LocationHeadquarters
- HQ city
- Lakewood
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Rare Element Resources business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D
Revenue model
- Rare Earth Product Sales: The company plans to sell commercial-grade REE products including neodymium/praseodymium (Nd/Pr) oxide for use in high-strength permanent magnets. Products will be used to demonstrate quality for prospective customers and sold. Currently in demonstration plant phase with planned 10-12 months of operations producing up to 10 tons of Nd/Pr oxide to generate technical and economic data and support offtake discussions.
- Technology Licensing: Proprietary technology for REE extraction/separation may be licensed to third parties. The technology has been advanced by General Atomics affiliates and can be applied to separation of heavy rare earth elements and third-party feed sources.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Rare Element Resources product offering
Product offeringCore offering
Rare Element Resources is developing the Bear Lodge Critical Rare Earth Project in Wyoming, encompassing a mining operation, physical upgrade plant, and hydrometallurgical processing facility. The company produces high-purity neodymium/praseodymium (Nd/Pr) oxide and other separated rare earth products using its proprietary extraction/separation technology, targeting defense, electric vehicle, renewable energy, and high-tech manufacturing customers. The company is currently in pre-commercial demonstration phase, operating a processing plant in Upton, Wyoming to generate product samples and commercial-scale design data.
Product overview
Rare Element Resources Ltd. is a strategic materials company advancing rare earth products for technology, energy, and defense applications through two core offerings: the Bear Lodge Critical Rare Earth Project (a world-class mineral deposit in Wyoming) and a proprietary rare earth processing and separation technology. The company operates a demonstration plant in Upton, Wyoming that produces high-purity neodymium/praseodymium oxide and is developing heavy rare earth separation capabilities. The portfolio includes the Bear Lodge mining project, a Physical Upgrade Plant for ore concentration, and a Hydrometallurgical Plant designed as a zero-discharge facility, all integrated through the company's proprietary extraction/separation technology developed with General Atomics.
Differentiator
Problem solved
Functional benefit
Products and services
- Bear Lodge Critical Rare Earth Project A world-class rare earth mineral deposit in northeastern Wyoming containing high concentrations of critical magnet REEs (neodymium, praseodymium, samarium, terbium), with a proposed mine, physical upgrade plant, and hydrometallurgical processing facility supporting an estimated 22-year mine life at the Bull Hill deposit.
- Rare Earth Processing and Separation Demonstration Plant A $66M+ rare earth processing and separation demonstration plant in Upton, Wyoming designed to validate the company's proprietary extraction/separation technology and produce up to 10 tons of separated Nd/Pr oxide over 10-12 months of operation. The plant is designed with a zero-discharge closed-loop hydrometallurgical system.
- Neodymium/Praseodymium (Nd/Pr) Oxide High-purity (>99.5%) neodymium/praseodymium oxide produced at the demonstration plant, serving as the critical input for high-strength permanent magnets used in electric vehicles, wind turbines, defense systems, and high-tech manufacturing.
- Heavy Rare Earth Element Separation Separation technology for heavy rare earth elements (HREEs) being developed at the Upton, Wyoming demonstration plant, intended for application to both company and third-party feed sources.
Quantifiable outcome
- Demonstration plant operational data will confirm scalability of proprietary extraction/separation process and identify areas for improvement for commercial facility
- +3 more outcomes
Companies that use Rare Element Resources
Customer profileSegments4 records
Ideal customer profiles4 records
Rare Element Resources technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Rare Element Resources partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- General Atomics (GA)coreGeneral Atomics, one of the largest and most advanced technology companies in the world, took an equity position in Rare Element Resources in 2017. As a leader in new technology development for commercial and national security applications, GA is aware of the importance of developing a secure domestic supply of critical REEs. GA affiliate Synchron is the majority shareholder. GA and partners have brought full force of technology development team to refine and enhance the extraction/separation process. GA affiliate UIT conducted pilot testing in Germany. GA scientists optimize processes and monitor real-time innovative controls during demonstration plant operations.
- Umwelt-und-Ingenieurtechnik GmbH (UIT)coreUIT is a General Atomics affiliate that conducted extensive pilot-plant testing of REE extraction/separation process at labs in Germany. UIT was instrumental in advancing the technology through successful pilot testing phase. UIT mineral processing experts are currently undertaking system-wide review of demonstration plant with General Atomics-led consortium.
- Wood PLCminorWood PLC of Sheridan, Wyoming serves as staffing contractor for demonstration plant operations. Manages plant staffing in partnership with Rare Element Resources.
- U.S. Nuclear Regulatory Commission (NRC)coreNRC issued Source Material License for demonstration plant in July 2023 and will regulate radiation protection program during operations to ensure public safety. NRC requires Decommissioning Funding Plan for proper closure. Wyoming secured agreement with NRC to assume control over radioactive byproducts from rare earth mining.
Scale indicators13 records
Recent moves7 records
Expansion highlights6 records
Rare Element Resources competitors and assessment
Company assessmentDirect peers
- Ucore Rare Metals: Canadian-listed developer of the Bokan-Dotson Ridge heavy REE project in Alaska and the RapidSX™ separation technology. Direct peer pursuing a similar mining-plus-proprietary-separation strategy to break Chinese REE dominance.
- Lynas Rare Earths: Australia's largest rare earth miner and the largest non-Chinese producer of separated REE oxides (Nd/Pr). Directly comparable business model of mining and separating REEs for sale to global magnet and electronics manufacturers.
- Energy Fuels: US uranium and rare earth processor that began producing mixed rare earth carbonate from monazite sands at its White Mesa Mill. Comparable as a US-based, government-supported REE processor pursuing the same domestic supply-chain thesis.
- Neo Performance Materials: Global producer of rare earth magnets and specialty materials with operations across Europe, North America, and Asia. Comparable as a downstream REE processor and magnet producer serving the same automotive, electronics, and industrial customers.
- MP Materials: Operator of the Mountain Pass mine in California — the only scaled US rare earth mine and processor producing Nd/Pr oxide. Direct peer as the only other active US-based REE miner/separator pursuing the same defense and EV magnet supply opportunity.
- USA Rare Earth: Privately held US company developing the Round Top heavy REE deposit in Texas with in-house processing. Direct peer as a US-focused critical minerals developer leveraging federal policy support to build a domestic REE supply chain.
Emerging players
- Iluka Resources: Australian mineral sands producer building a dedicated rare earth refinery in Western Australia to process monazite feedstock. Comparable as an emerging non-Chinese REE separator using a different feedstock base.
- VITAL Metals / Cheetah Resources: Australian/Canadian junior developing the Nechalacho rare earth project in Northwest Territories, with early-stage Nd/Pr concentrate production. Smaller-scale emerging peer with overlapping North American footprint.
Broad incumbents
- Albemarle Corporation: Largest US lithium producer and a global specialty chemicals incumbent. Comparable as a US-listed, government-aligned critical minerals incumbent, though Albemarle's portfolio is dominated by lithium and bromine rather than rare earths.
Others
- Tronox Holdings: Global vertically integrated mineral sands miner and zircon producer with comparable mining and mineral-processing operating expertise. Adjacent rather than directly competitive, but shares the critical-minerals processing adjacency.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Rare Element Resources social profiles
Digital presenceRare Element Resources financial estimates
Financial estimateRevenue estimate
Valuation estimate
Rare Element Resources leadership team
Management profileNumber of profiles
Profiles12 records
Rare Element Resources subsidiaries and ownership
Company hierarchySubsidiaries1 record
Rare Element Resources funding detail
Funding detailFunding overview
Funding rounds5 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Rare Element Resources 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 Rare Element Resources
What does Rare Element Resources do?
Rare Element Resources is developing the Bear Lodge Critical Rare Earth Project in Wyoming, encompassing a mining operation, physical upgrade plant, and hydrometallurgical processing facility. The company produces high-purity neodymium/praseodymium (Nd/Pr) oxide and other separated rare earth products using its proprietary extraction/separation technology, targeting defense, electric vehicle, renewable energy, and high-tech manufacturing customers. The company is currently in pre-commercial demonstration phase, operating a processing plant in Upton, Wyoming to generate product samples and commercial-scale design data.
Is Rare Element Resources a public or private company?
Rare Element Resources is a public company. It is classified as public and is currently operating.
When was Rare Element Resources founded?
Rare Element Resources was founded in 1999. It employs 1 to 10 people.
Where is Rare Element Resources based?
Rare Element Resources is headquartered in Lakewood, United States, in the North America region.
How does Rare Element Resources make money?
Two revenue lines are on record. Rare Earth Product Sales are the primary driver. The others are technology Licensing.
Who are Rare Element Resources's main competitors?
Direct peers on record are Ucore Rare Metals, Lynas Rare Earths, Energy Fuels, Neo Performance Materials, MP Materials and USA Rare Earth. Emerging players are Iluka Resources and VITAL Metals / Cheetah Resources. Albemarle Corporation is listed as a broad incumbent. Tronox Holdings is listed as an others.
Does Rare Element Resources have an API?
No public API is recorded for Rare Element Resources.
What industry is Rare Element Resources in?
Rare Element Resources's product category is Rare Earth Element Mining and Processing. Its primary akta.pro industry code is IMAKAFAH, Rare Earths Separation & Refining (Oxides/Metals), with a secondary code of IMAKAFAG, Rare Earths Mining & Concentrates (REE Ores). Its NAICS code is 33141 and its SIC code is 1000.