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The Discovery of a Gigantic Rare Earth Reserve in the U.S. Could Transform the Country into a Global Leader in Strategic Material Supply
Recently, a surprising discovery in the state of Wyoming could change the future of the United States in the minerals sector. American Rare Earths announced the location of two billion tons of rare earth minerals, placing the country in a position to become one of the leading producers of these essential global resources.
These minerals, which are used in the manufacturing of everyday products like smartphones, hybrid cars, and light bulbs, have been a point of dependency for the U.S., which currently imports about 74% of its minerals.
On the other hand, China dominates global production, controlling an impressive 95% of the resources needed for modern technology. With the discovery in Wyoming, things could change significantly, creating an opportunity for the United States to reduce its external dependency.
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The investigation conducted by American Rare Earths began in March 2023, and initially, the expectation was to find about 1.2 million tons of minerals. However, the company found 64% more than expected, an impressive figure announced in the second quarter of 2024.
The most surprising thing is that they have only explored 25% of the land, suggesting that the amount of minerals found could be even greater.
Crucial Minerals for Advanced Technologies
The discovered minerals, such as neodymium, praseodymium, samarium, and terbium, are essential for the production of cutting-edge technologies, including aircraft and electric vehicles. These elements, known as rare earths, play a crucial role in advancing technological and energy technologies.
So far, the U.S. has relied on China for most of these resources, but the discovery in Wyoming may allow the country to become more self-sufficient and even increase its production.
The discovery also recalls another significant find made in Japan, which, in 2019, announced the location of 230 million tons of rare minerals in the Pacific Ocean. This gave Japan a significant advantage in access to resources for its industries, placing the country in a strategic position in the global minerals market.
In an interview, Don Schwartz, CEO of American Rare Earths, commented that, typically, the amount of minerals found decreases over time. However, in the case of Wyoming, the reality was different. As they continued to drill, more minerals were discovered.
Additionally, our American company, Ramaco Resources, also found rare minerals in an area near Sheridan, Wyoming, valued at US$ 37 billion, but American Rare Earths believes its discovery is even greater.
With these discoveries, the U.S. may be on the brink of a crucial advancement that could ensure greater security and autonomy over the set of essential minerals for its technology industries. The expectation now is that the country can utilize this resource efficiently, becoming a global leader in the rare earth minerals sector.
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