Beautiful and wild with amazing vistas and friendly people. What can you say about doing business in Wyoming – no place better.
Rare Element Resources (RER) started exploring the Bear Lodge Project, located in northeast Wyoming, in 2004. Wyoming is a state that understands resource development is a critical element of an industrial society with mineral extraction being the largest contributor to the State’s GDP. Given that, they recognized quickly that the identification of a large, mineralized district of rare earth elements at Bear Lodge represented an excellent opportunity to diversify further their mineral resource portfolio and bring new, high-paying jobs to the State.
Wyoming has the right ingredients for a resource development company – a rich history of mineral development, a pro-business focus, plus a skilled-workforce and positive tax climate. Former Governor Mead began in 2012 by introducing his Value-Added Business and Industry Plan to do more processing and end-use activities within Wyoming of minerals produced from Wyoming. Governor Gordon has taken additional meaningful action by passing legislation aimed at streamlining the permitting process for projects like Bear Lodge. The Wyoming Energy Authority also approved a $4.4M grant to support development of the Company’s demonstration plant with a goal of scaling up our proprietary recovery/separation technology in support of commercial development.
Federal and State legislators have met with the company, had site visits, and continue to have open dialogues on how they can support our efforts. Local leaders, like Mayor Trandahl (Upton) and city staff, follow the company’s progress closely and meet with our team regularly.
Recently, RER started working with the talented faculty and students at the University of Wyoming’s Center for Business and Economic Analysis (CBEA) on a review of the domestic and international outlook for rare earths as it relates to the company’s project. CBEA’s mission is to support the economic growth and diversification of Wyoming’s economy through applied economics to promote a thriving and prosperous State.
Rare earths, like gold or uranium, can be found in small quantities, almost everywhere on earth, even in seawater. What is rare is finding them in high grades with good volumes in a place where the value of mineral development is understood and encouraged and where State leaders actively support a project’s advancement. We have all those things with Bear Lodge and thank the great state of Wyoming for their continued support.