Proactive: American Rare Earths’ updated scoping study confirms world-class rare earths project

Chris Gibbs joined Steve Darling from Proactive’s OTC studio in New York City to announce the results of the company’s Updated Scoping Study for the Halleck Creek Rare Earths Project in Wyoming. The study reaffirms the project’s robust financial performance, scalability, and strategic importance as the only large-scale rare earths project in the United States with a clear path to production, positioning ARR to secure a domestic, tariff-free supply of critical minerals for U.S. and allied markets. The Updated Scoping Study outlines two development scenarios including 3 Million Tonnes Per Annum with a Net Present Value (NPV10%) of US$558 million, Internal Rate of Return (IRR) of 24%, Capital Expenditure (CAPEX) of US$456 million and a Payback period of 2.7 years. Gibbs told also shared the second being 6 Million Tonnes Per Annum (Mtpa) Case with a NPV10% of US$1.171 billion, IRR of 28.4%, CAPEX of US$737 million, Payback period of 1.8 years Gibbs also highlighted the success of recent large-scale metallurgical test work, which achieved a tenfold increase in rare earth concentration. Using commercially proven MG12 Spirals and Induced Roll Magnetic Separation (IRMS) technology, the company upgraded mineralized feedstock from 3,438 ppm (0.34%) TREO to approximately 37,200 ppm (3.72%) TREO. This significant increase means that only 6.5% of the mined ore requires further refining, substantially reducing processing volumes and operational costs. The large-scale test program validates the assumptions outlined in the company’s initial Scoping Study and reinforces the project’s potential for scalable, cost-efficient production of rare earth elements. Gibbs emphasized that these results, combined with the recent increase in the project’s JORC Resource estimate, strengthen the long-term viability of Halleck Creek. ARR plans to release an Updated Scoping Study shortly, incorporating these advancements and solidifying Halleck Creek’s position as a cornerstone of the U.S. rare earths supply chain.