American Rare Earths
American Rare Earths: Cowboy State Mine Study Strengthens Foundation for Domestic U.S. Rare Earth Supply
American Rare Earths has announced an updated Scoping Study for its Cowboy State Mine, projecting an after-tax NPV of approximately US$1.07 billion and a 26-year mine life, representing a significant increase in scale and value compared to the previous study. The updated plan includes a 50% increase in throughput to 4.5 Mtpa and a 36% increase in annual NdPr oxide production to 2,500 tonnes, based entirely on Indicated Mineral Resources. However, initial capital costs have risen to US$900 million, and reported metallurgical recoveries for rare earth oxides have decreased, particularly for heavy rare earths, which the company is addressing through ongoing optimization test work.