The evolution of WRE to be owner and developer of world-class rare-earth resources in the US is well underway, validated by the US government’s focus on establishing a domestic rare earths industry and bolstering domestic critical minerals production. This is demonstrated by the US Department of Energy’s (DOE) plans to provide federal funding for cost-shared research and development under the funding opportunity announcement (FOA) Carbon Ore, Rare Earth, and Critical Minerals (CORE-CM) Initiative for U.S. Basins.
This government initiative is a key driver and powerful incentive for WRE to accelerate the growth and development of the La Paz Rare Earths Project together with the Halleck Creek asset in Wyoming. As a key US strategic resource, this and other critical mineral development programs are designed to provide feedstock for US-based processing. This commercial pathway that includes US Department of Energy incentives, along with reduced permitting hurdles provided by the Department of the Interior, allows WRE the opportunity to capitalize on the revival of a US supply chain for rare-earth elements (REE) and critical minerals. Our specific focus includes Scandium and especially the high-value REE Lanthanides needed for EV motors.
WRE is building scale as the world’s largest economy – the US – is scrambling to shore up its own supply of rare earths.