Bear Lodge Project Overview
The Bear Lodge Project is positioned to be a major North American source of rare earth elements (REEs). The quality and quantity of the mineralization at Bear Lodge make it a world-class mining district and a dependable, long-term source for the REEs that technology demands.
The Project is rich in the REEs critical to high-strength permanent magnet manufacturing and are higher-valued and expected to experience faster demand growth and better price support over the long term. It is situated in one of the best mining districts in the world. The mine site is ideally located in northeastern Wyoming, just off of I-90, and has easy access to power and supporting infrastructure. The processing facility will be located nearby, in the town of Upton, Wyoming, in an establish industrial area. Both communities contain a ready workforce, skilled in natural resource development.
- Outstanding Mineralized District – Not only does the Project have a well-defined and drilled mineral asset, it is also one of the highest-grade deposits for the critical magnet REEs neodymium, and praseodymium (Nd/Pr) as well as samarium (Sm) and terbium (Tb). These elements are expected to see the largest demand growth and price support over the next 10 years due to their importance in green technologies, like electric vehicles, solar panels and wind turbines.
- High-Grade Zone – An identified near-surface, high-grade zone, if mined initially, would accelerate early cash flows.
- Additional Targets Already Identified – Exploration drilling has been completed on two additional targets located within Rare Element Resources’ claims. These targets represent excellent potential to extend the Project’s life.
- Exceptional Location – Wyoming’s rich history of mineral development and pro-business focus makes it an excellent location. It also has a readily available, skilled workforce and business-friendly tax climate. In 2022, the Wyoming Energy Authority (WEA) granted $4.4M in support of the planned demonstration plant, which will confirm the scalability of the Company's innovative recovery/separation technology. This strong statement of support demonstrates Wyoming’s ongoing commitment to job creation and diversification, both well represented by the demonstration plant and the Bear Lodge Project.
- Excellent Existing Infrastructure – Easy access to a major interstate, transcontinental rail, natural gas, water and low-cost power.
- Permitting Work – Significant work was completed, and relationships were built by RER while previously pursuing permits for the Bear Lodge Project. The Company believes these efforts will have created a good foundation when permitting work resumes.
- Proprietary Technology - Could generate additional revenue through tolling of third-party material or licensing for use at other facilities.