American Rare Earths
American Rare Earths is an Australian exploration company focused on the development of it’s La Paz rare earth assets in Arizona, North America In addition it has strategic mineral resources (Heavy Mineral Sands) in the Broken Hill Region (industrial, base and precious metals. In addition it maintains an exposure in Thackaringa Cobalt Assets that had been cobalt blue (COB)
Broken Hill Region
American Rare Earths retains an exposure in the Broken Hill region by static investment in cobalt blue, cobalt blue has required a 100% ownership of the Thackaringa Cobalt Project.
The Thackaringa Cobalt Project is strategically located 25km south-west of Broken Hill, New South Wales, adjacent to the main transcontinental railway line. Mineralised outcrop extends for over 10km, with less than a quarter of this trend having been drill tested. The project is currently undergoing Bankable Feasibility Studies.
The Thackaringa Cobalt Project is under a Farm In and Royalty Agreement with Cobalt Blue Holdings Ltd (COB). COB has ceased earn-in to the project at a 70% beneficial interest, leaving ARR with a 30% beneficial interest in the Cobalt Project and 100% legal rights to the exploration leases. In addition, ARR will receive a 2% net smelter royalty on all cobalt produced from the Thackaringa tenements for the life of mine. ARR retains the base and precious metal exploration rights over the Thackaringa tenements, where it is actively exploring for a diverse range of deposit types including Broken Hill (Pb-Zn-Ag) style mineralisation.
Cobalt is a necessary metal for the production of the latest generation, high density Lithium-ion batteries. Due to its high run-time properties, the use of cobalt has risen dramatically as portable Li-ion battery usage accelerates and electric vehicles become a reality.